"Kesko's sales grew by 6.6% in April. Sales in the building and technical trade division increased, while sales in the grocery trade division were flat year-on-year, and sales in the car trade division decreased. Sales in April were impacted by the timing of Easter and the fact that the number of delivery days was up in year-on-year comparison," says Jorma Rauhala, Kesko's President and CEO.

Sales in the grocery trade division totalled €510.4 million in April, up by 0.3%. Sales to K Group grocery stores were flat year-on-year. Sales in K-Citymarket's home and speciality goods (non-food) decreased. Kespro's sales increased by 4.8%. The number of delivery days in grocery trade was up by 2 year-on-year, while the number of delivery days for Kespro was up by 3 year-on-year.

Sales in the building and technical trade division totalled €413.5 million in April, up by 20.0%, or by 9.4% in comparable terms. The number of delivery days in April was up by 3 year-on-year in Finland and Sweden, and by 4 in Norway. The positive calendar impact on sales was approximately 14-17 percentage points. Sales in building and home improvement trade increased by 27.8%, or by 5.5% in comparable terms. Sales in technical trade increased by 12.7% in comparable terms. In comparable terms, sales increased by 2.5% in Finland and by 27.8% in Norway, while in Sweden sales were down by 1.9%. The sales figures of the Danish Davidsen have been consolidated into the figures of Kesko's building and technical trade division from 1 February 2024 onwards.

Sales in the car trade division totalled €106.4 million in April, a decrease of 5.7%. Car trade sales decreased by 7.5%; sales for used cars and services increased. Sports trade sales increased by 6.1%.

Kesko Group sales in April 2024 totalled €1,028.2 million, representing an increase of 6.6%.

Kesko Group sales in euros, excluding VAT, in April 2024:

April 2024 Comparable
€ million Change, % change, %
Grocery sales to K Group grocery 413.0 -0.7 -0.8
stores and non-food sales, total
Kespro 97.3 +4.8 +4.8
Grocery trade, total 510.4 +0.3 +0.3
Building and home improvement 211.5 +27.8 +5.5
trade
Technical trade 207.7 +12.3 +12.7
Building and technical trade, 413.5 +20.0 +9.4
total
Car trade 90.4 -7.5, -7.5
Sports trade 16.0 +6.1 +6.1
Car trade, total 106.4 -5.7 -5.7
Common functions and -2.1
eliminations
Grand total 1,028.2 +6.6 +2.8

Finland, total 799.0 -0.1 -0.1
Other countries, total 229.2 +39.1 +16.9
Grand total 1,028.2 +6.6 +2.8

Kesko Group sales in euros, excluding VAT, in January-April 2024:

1.1.-30.4.2024 Comparable
€ million Change, % change, %
Grocery sales to K Group grocery 1,662.3 +1.1 +1.1
stores and non-food sales, total
Kespro 383.7 +1.4 +1.4
Grocery trade, total 2,046.0 +1.2 +1.2
Building and home improvement 683.9 +3.9 -10.5
trade
Technical trade 748.3 -2.7 -7.4
Building and technical trade, 1,411.3 +0.6 -8.8
total
Car trade 338.0 -7.1 -5.7
Sports trade 57.3 -15.9 -15.9
Car trade, total 395.3 -8.5 -7.3
Common functions and -7.6
eliminations
Grand total 3,844.9 -0.1 -3.4

Finland, total 3,088.2 -3.2 -3.1
Other countries, total 756.7 +15.2 -4.8
Grand total 3,844.9 -0.1 -3.4

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 2023 and 2024. In addition, the calculation of comparable sales also takes into account the minor change in the business model of technical trade in Norway.

The reported sales for Kesko Group include the acquisitions and divestments completed in 2023 and 2024 in accordance with the dates of completion. In 2023, Kesko 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). In February 2024, the business operations of an individual Neste K service station were transferred to Kesko. As of 1 February 2024, Davidsen Koncernen A/S in Denmark has been part of Kesko.

The number of delivery days in April 2024 was up by 2 year-on-year in Kesko's grocery trade, by 3 in Kespro and in building and technical trade in Finland and Sweden, and by 4 in building and technical trade in Norway. In January-April, the number of delivery days was up by 1 year-on-year in grocery trade, by 2 in Kespro and in building and technical trade in Finland and Sweden, and by 1 in 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 percentage point 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.

Kesko Corporation

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