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    KESKOB   FI0009000202

KESKO OYJ

(KESKOB)
  Report
Delayed Quote. Delayed Nasdaq Helsinki - 01/14 11:29:34 am
27.29 EUR   -1.52%
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Kesko's sales grew in October

11/12/2021 | 01:01am EST

Kesko Group's sales totalled €985.7 million in October 2021, representing an increase of 5.0% on the previous year. In comparable terms, sales grew by 3.7%.

"Kesko's sales grew in October thanks to the strong sales performance in building and technical trade," says Mikko Helander, Kesko's President and CEO.

Sales in the grocery trade division totalled E498.3 million in October, a decrease of 1.2%. Grocery sales to K-food stores decreased by 5.1%, impacted by the fact that in 2020 sales for All Saints' Day fell on October. Sales grew in K-Citymarket's home and speciality goods trade. Kespro's sales grew by 14.3%.   

Sales in the building and technical trade division totalled E410.1 million in October, an increase of 12.4% in comparable terms in local currencies. Sales in the building and technical trade excluding the speciality goods trade grew by 13.8% in comparable terms. Sales grew in comparable terms by 12.8% in Finland, 8.3% in Sweden and 9.8% in Norway. In the speciality goods trade, leisure trade sales increased by 2.8% in comparable terms. Reported sales in the building and technical trade division increased by 15.7%.

Sales in the car trade division totalled E79.1 million in October, down by 3.8%. Sales were impacted by the weakened availability of cars. New car registrations were down by 11.8% in passenger cars and 22.7% in vans compared to the year before. The number of used cars sold in Finland decreased by 6.2% year-on-year.  

Kesko Group's sales in October totalled E985.7 million, representing an increase of 3.7% in comparable terms.

Kesko Group's sales in euros, excluding VAT, in October 2021:

October 2021 Comparable
E million Change, % change, %
Grocery trade, total 498.3 -1.2 -1.2
Building and technical trade, Finland 210.7 +10.0 +10.3
Building and technical trade, other countries 199.5 +22.4 +14.9
Building and technical trade, total 410.1 +15.7 +12.4
Car trade, total 79.1 -3.8 -3.8
Common functions and eliminations -1.9
Grand total 985.7 +5.0 +3.7
Finland, total 786.2 +1.3 +1.4
Other countries, total 199.5 +22.4 +14.9
Grand total 985.7 +5.0 +3.7

Kesko Group's sales in euros, excluding VAT, in January-October 2021:

1.1.-31.10.2021 Comparable
E million Change, % change, %
Grocery trade, total 4,882.4 +2.7 +2.7
Building and technical trade, Finland 2,051.2 +11.1 +11.0
Building and technical trade, other countries 1,753.7 +0.5 +15.8
Building and technical trade, total 3,804.9 +6.0 +13.0
Car trade, total 895.4 +18.9 +18.9
Common functions and eliminations -19.5
Grand total 9,563.2 +5.3 +7.9
Finland, total 7,809.5 +6.5 +6.4
Other countries, total 1,753.7 +0.5 +15.8
Grand total 9,563.2 +5.3 +7.9

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 Kesko Senukai and the acquisitions and divestments completed in 2020 and 2021.

The reported sales for Kesko Group include the acquisitions and divestments completed in 2020 and 2021, in accordance with the dates of completion. In 2020, the building and technical trade division completed the acquisitions of Mark & Infra i Sverige, Carlsen Fritzøe Handel, and Bygg & Interiör, and the divestment of Konekesko's machinery trade operations in the Baltics. In 2021, the building and technical trade division completed the acquisition of Byggarnas Partner.

In October 2021, the number of delivery days in Kesko's grocery trade equalled that of the year before. Kesko's building and technical trade had one delivery day less than the year before in Finland, Sweden and Norway. In January-October, Kesko's grocery trade in Finland and building and technical trade in Finland and Sweden had one delivery day less than the corresponding period the year before, while in building and technical trade in Norway there were two fewer delivery days. Under normal circumstances, one delivery day has an approximately 2-4% impact on Kesko's wholesale, depending on the division. The number or timing of delivery days in the car trade does not have a similar impact on sales.

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.

Kesko Corporation

DISTRIBUTION
Main news media
www.kesko.fi

https://news.cision.com/k-ryhma/r/kesko-s-sales-grew-in-october,c3452544

https://mb.cision.com/Main/13061/3452544/1495479.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 11 260 M 12 853 M 12 853 M
Net income 2021 555 M 634 M 634 M
Net Debt 2021 2 182 M 2 491 M 2 491 M
P/E ratio 2021 19,6x
Yield 2021 3,24%
Capitalization 10 604 M 12 111 M 12 103 M
EV / Sales 2021 1,14x
EV / Sales 2022 1,11x
Nbr of Employees 17 407
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Number of Analysts 3
Last Close Price 27,29 €
Average target price 26,77 €
Spread / Average Target -1,92%
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Managers and Directors
Mikko Matias Helander President & Chief Executive Officer
Jukka Henrik Erlund Chief Financial Officer & Executive Vice President
Esa Mikael Kiiskinen Chairman
Arto Hiltunen Chief Information Officer & Vice President
Jannica Charlotta Fagerholm Independent Non-Executive Director
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