”Kesko’s sales decreased by 3.5% in November, or by 4.3% in comparable terms. Sales in the grocery trade division were flat year-on-year, impacted by the timing of wholesale deliveries to K Group grocery stores and slowing inflation. Sales in the building and technical trade division decreased as construction volumes weakened. Sales in the car trade division increased in all car trade business areas,” says Mikko Helander, Kesko’s President and CEO.
Sales in the grocery trade division totalled €537.1 million in November, an increase of 0.1% year-on-year. Grocery sales to K Group grocery stores decreased by 0.2%. Sales in K-Citymarket’s home and speciality goods (non-food) decreased year-on-year. Kespro’s sales increased by 5.4%.
Sales in the building and technical trade division totalled €362.1 million in November, representing a decrease of 10.0%, or 12.4% in comparable terms. Sales in building and home improvement trade decreased by 15.2% in comparable terms. Sales in technical trade decreased by 1.7%, or by 10.2% in comparable terms. Sales decreased in comparable terms by 17.2% in Finland, 18.1% in Sweden, and 3.9% in Norway.
Sales in the car trade division totalled €100.9 million in November, an increase of 2.3%. Car trade sales increased by 12.5% in comparable terms. Sports trade sales decreased by 22.0%.
Kesko Group’s sales in November 2023 totalled €998.2 million, representing a decrease of 3.5%.
Kesko Group sales in euros, excluding VAT, in November 2023:
| November 2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 432.5 | -1.1 | -1.1 |
| Kespro | 104.7 | +5.4 | +5.4 |
| Grocery trade, total | 537.1 | +0.1 | +0.1 |
| Building and home improvement trade | 153.6 | -19.7 | -15.2 |
| Technical trade | 214.2 | -1.7 | -10.2 |
| Building and technical trade, total | 362.1 | -10.0 | -12.4 |
| Car trade | 83.7 | +9.3 | +12.5 |
| Sports trade | 17.2 | -22.0 | -22.0 |
| Car trade, total | 100.9 | +2.3 | +4.6 |
| Common functions and eliminations | -1.9 | ||
| Grand total | 998.2 | -3.5 | -4.3 |
| Finland, total | 803.9 | -3.7 | -3.4 |
| Other countries. total | 194.2 | -2.9 | -8.0 |
| Grand total | 998.2 | -3.5 | -4.3 |
Kesko Group sales in euros, excluding VAT, in January-November 2023:
| 1.1.-30.11.2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 4,771.3 | +2.9 | +2.9 |
| Kespro | 1,092.9 | +12.2 | +12.2 |
| Grocery trade, total | 5,864.2 | +4.5 | +4.5 |
| Building and home improvement trade | 1,879.5 | -19.0 | -15.3 |
| Technical trade | 2,267.6 | +3.2 | -4.2 |
| Building and technical trade, total | 4,083.8 | -8.2 | -9.9 |
| Car trade | 1,015.5 | +20.9 | +23.2 |
| Sports trade | 174.0 | -14.1 | -14.1 |
| Car trade, total | 1,189.3 | +14.1 | +15.8 |
| Common functions and eliminations | -22.1 | ||
| Grand total | 11,115.2 | +0.4 | -0.2 |
| Finland, total | 9,093.2 | +1.9 | +2.1 |
| Other countries. total | 2,022.0 | -5.7 | -9.3 |
| Grand total | 11,115.2 | +0.4 | -0.2 |
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, Zenitec Sweden AB in Sweden in April, and Geitanger Bygg AS in Norway in October. At the end of March 2023, Kesko completed the divestment of its MAN business (trucks and buses).
Sports trade has been part of the car trade division as of 1 April 2023 onwards. Prior to that, sports trade was part of the building and technical trade division. In this release, sales for sports trade are included in the figures for the car trade division from the start of 2023 as well as for the comparison period.
The number of delivery days equalled that of the year before in November and January-November 2023 in Kesko’s grocery trade, Kespro and building and technical trade in Finland, Sweden and Norway. Saturdays are wholesale delivery days in grocery trade but not in Kespro or 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.
Kesko publishes advance information on the retail sales of K Group 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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