”Kesko’s sales in June grew by 1.3%, and were flat year-on-year in comparable terms. In the grocery trade division, sales grew by 5.4% thanks to the good performance of Kespro and our grocery stores. In the building and technical trade division, sales decreased as construction activity weakened. In the car trade division, growth in car sales continued strong,” says Kesko’s President and CEO Mikko Helander.
Sales in the grocery trade division totalled €581.1 million in June, an increase of 5.4%. Grocery sales to K Group grocery stores increased by 5.1%. Sales in K-Citymarket’s home and speciality goods (non-food) were flat year-on-year. Kespro’s sales increased by 7.3%.
Sales in the building and technical trade division totalled €412.7 million in June, representing a decrease of 10.6% in comparable terms in local currencies. Sales in building and home improvement trade decreased by 15.9% in comparable terms. Onninen’s sales decreased by 4.3% in comparable terms. Sales decreased in comparable terms by 11.7% in Finland, 21.1 % in Sweden, and 4.9% in Norway. Reported sales in the building and technical trade division decreased by 7.6%.
Sales in the car trade division totalled €110.0 million in June, an increase of 19.0%. Sports trade has been part of the division from 1 April 2023 onwards. Prior to that, sports trade was part of the building and technical trade division. Car trade sales increased by 27.7% in comparable terms as new car deliveries clearly grew year-on-year. In June, registrations of new cars in Finland were up by 23.9% in passenger cars and by 29.9% in vans compared to the year before. The number of used passenger cars sold in Finland increased by 3.7% year-on-year. Sports trade sales decreased by 18.7%
Kesko Group's sales in June 2023 totalled €1,101.9 million, representing an increase of 1.3%.
Kesko Group's sales in euros, excluding VAT, in June 2023:
| June 2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 476.4 | +5.0 | +5.0 |
| Kespro | 104.8 | +7.3 | +7.3 |
| Grocery trade, total | 581.1 | +5.4 | +5.4 |
| Building and home improvement trade | 195.7 | -20.4 | -15.9 |
| Onninen | 222.2 | +7.4 | -4.3 |
| Building and technical trade, total | 412.7 | -7.6 | -10.6 |
| Car trade | 99.6 | +25.0 | +27.7 |
| Sports trade | 10.4 | -18.7 | -18.7 |
| Car trade, total | 110.0 | +19.0 | +21.1 |
| Common functions and eliminations | -1.9 | ||
| Grand total | 1,101.9 | +1.3 | +0.1 |
| Finland, total | 888.0 | +2.4 | +2.6 |
| Other countries, total | 213.9 | -3.2 | -9.4 |
| Grand total | 1,101.9 | +1.3 | +0.1 |
Kesko Group's sales in euros, excluding VAT, in April-June 2023:
| 1.4.-30.6.2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 1,341.4 | +4.1 | +4.1 |
| Kespro | 302.1 | +9.7 | +9.7 |
| Grocery trade, total | 1,643.5 | +5.1 | +5.1 |
| Building and home improvement trade | 568.6 | -23.2 | -19.1 |
| Onninen | 631.9 | +3.7 | -5.5 |
| Building and technical trade, total | 1,183.5 | -11.0 | -12.9 |
| Car trade | 303.4 | +31.5 | +35.1 |
| Sports trade | 37.5 | -23.3 | -23.3 |
| Car trade, total | 340.9 | +21.9 | +24.6 |
| Common functions and eliminations | -5.9 | ||
| Grand total | 3,161.9 | -0.1 | -0.8 |
| Finland, total | 2,580.3 | +1.9 | +2.2 |
| Other countries, total | 581.6 | -8.2 | -12.4 |
| Grand total | 3,161.9 | -0.1 | -0.8 |
Kesko Group's sales in euros, excluding VAT, in January-June 2023:
| 1.1.-30.6.2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 2,568.8 | +4.3 | +4.3 |
| Kespro | 587.5 | +18.2 | +18.2 |
| Grocery trade, total | 3,156.3 | +6.6 | +6.6 |
| Building and home improvement trade | 1,061.1 | -20.1 | -17.0 |
| Onninen | 1,215.6 | +5.9 | +0.2 |
| Building and technical trade, total | 2,242.1 | -8.0 | -9.1 |
| Car trade | 569.6 | +29.3 | +31.1 |
| Sports trade | 90.6 | -12.5 | -12.5 |
| Car trade, total | 660.1 | +21.4 | +22.8 |
| Common functions and eliminations | -12.6 | ||
| Grand total | 6,046.0 | +2.0 | +1.7 |
| Finland, total | 4,972.5 | +4.4 | +4.5 |
| Other countries, total | 1,073.5 | -7.7 | -10.0 |
| Grand total | 6,046.0 | +2.0 | +1.7 |
Change % indicates the change when compared to the corresponding period of the previous year. The comparable change % has been calculated in local currencies and excluding the impact of acquisitions and divestments completed in 2022 and 2023.
The reported sales for Kesko Group include the acquisitions and divestments completed in 2022 and 2023, in accordance with the dates of completion. In 2022, Kesko completed the acquisitions of the Swedish Kungälvs Trävaruaktiebolag in March, Föllinge Såg AB and Djurbergs Järnhandel Aktiebolag in September, and XL-BYGG Bergslagen AB in October, as well as the acquisition of the Norwegian Seljord Elektriske AS in June. In 2023, Kesko has completed the acquisition of Elektroskandia Norge AS in Norway in March, and Zenitec Sweden AB in Sweden in April. At the end of March 2023, Kesko completed the divestment of its MAN business (trucks and buses).
The number of delivery days in June 2023 equalled that of the year before in Kesko’s grocery trade and in building and technical trade in Finland and Sweden, and was up by 1 year-on-year in building and technical trade in Norway. In April-June and January-June, the number of delivery days equalled that of the year before in Kesko’s grocery trade and in building and technical trade in Finland, Sweden and Norway. Saturdays are wholesale delivery days in grocery trade, but not in building and technical trade. Under normal circumstances, one delivery day has an approximately 2-4% impact on Kesko’s wholesale, depending on the division.
Car trade market statistics by the Finnish Information Centre of Automobile Sector.
Kesko publishes advance information on the retail sales of K Group’s stores quarterly in connection with interim reports.
Further information is available from Hanna Jaakkola, Vice President, Investor Relations, tel. +358 105 323 540, and Eva Kaukinen, Vice President, Group Controller, tel. +358 105 322 338.
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