Frontpage 
Kesko Group The year in figures
The year in figures
- The Kesko Group's net sales totalled €9,460 million, up 7.8% in January-December.
- Operating profit excluding non-recurring items was €278.9 million (€268.1 million), 2.9% of net sales (3.1%).
- Earnings per share excluding non-recurring items were €1.84 (€1.78).
- The Board of Directors proposes a dividend of €1.20 per share, which is 65% of the earnings per share excluding non-recurring items.
Net sales and operating profit excluding non-recurring items increased
In 2011, net sales continued to grow in the food trade, the building and home improvement trade and the car and machinery trade. In Finland, net sales increased by 7.3% and in other countries by 10.1%. International operations accounted for 17.1% (16.7%) of the net sales.
Profitability improved in the car and machinery trade, the food trade and the building and home improvement trade.
In the food trade, net sales were €4,182 million, up 7.3% in 2011. The sales growth of Pirkka products to K-food stores was excellent: 32%. Good sales performance was achieved especially by
In the home and speciality goods trade, net sales were €1,564 million, at the level of the previous year.
In the building and home improvement trade, net sales were €2,716 million, up 7.8%. Sales performance and structure varied between countries and customer groups. Foreign operations contributed 54.6% to the net sales of the building and home improvement trade. Operating profit excluding non-recurring items of the building and home improvement trade was €26.6 million (€24.0 million). Profit performance was affected by the sales growth mainly deriving from basic building materials with low margins, the expansion of the store network and by the costs related to the introduction and development of the international enterprise resource planning system.
Net sales of the car and machinery trade were €1,174 million, up 23.0%. Operating profit excluding non-recurring items of the car and machinery trade was €51.8 million (€33.1 million). The strong profit was attributable to excellent sales performance.
The K-Group's (Kesko's and K-retailers') retail and B2B sales (VAT 0%) totalled €11,767 million and increased by 7.2% from the previous year.
Capital expenditure in store sites
In 2011, the Kesko Group's capital expenditure totalled €425.4 million (€325.3 million), or 4.5% (3.7%) of net sales. Capital expenditure in store sites was €361.8 million (€209.2 million). Capital expenditure in foreign operations represented 31.7% (13.1%) of the total capital expenditure.
Store openings in 2011 included six new
READ MORE
Kesko's financial performance is presented in the financial statements.
Key figures |
2011 | 2010 | Change | ||
| Net sales | € million | 9,460 | 8,777 | 7.8 | % |
| Operating profit | € million | 280.6 | 306.7 | €-26.1 | million |
| Operating profit excl. non-recurring items | € million | 278.9 | 268.1 | €10.8 | million |
| Profit before tax | € million | 282.1 | 312.4 | €-30.3 | million |
| Return on capital employed | % | 13.2 | 16.0 | -2.8 | pp |
| Return on equity | % | 8.9 | 10.1 | -1.2 | pp |
| Cash flow from operating activities | € million | 216 | 438 | -50.8 | % |
| Capital expenditure | € million | 425.4 | 325.3 | 30.8 | % |
| Equity ratio | % | 53.9 | 53.5 | 0.4 | pp |
| Gearing | % | 1.5 | -16.8 | 18.2 | pp |
| Dividend per share | € | 1.20* | 1.30 | -7.7 | % |
| Earnings per share, diluted | € | 1.84 | 2.06 | -11.1 | % |
| Equity per share | € | 22.20 | 21.81 | 1.8 | % |
| Personnel, average | 18,960 | 18,215 | 4.1 | % | |
| *proposal to the AGM | |||||
Kesko had a year of profitable growth
- In the food trade, market share and profit improved.
- In the home and speciality goods trade, Asko's and Sotka's sales and profits were excellent.
- In the building and home improvement trade, sales increased markedly, profit performance remained slow.
- Volkswagen and Audi achieved record level profits and market shares.