”Sales in March grew in grocery trade and car trade. In grocery trade, sales growth was particularly strong in Kespro. Easter this year was one week earlier than last year, which had a positive impact on sales in grocery trade. Sales in building and technical trade declined markedly compared to March 2022, when the Russian attack on Ukraine led to hoarding and exceptionally high sales. In car trade, sales rose to an all-time high as availability improved,” says Kesko’s President and CEO Mikko Helander.
Sales in the grocery trade division totalled €560.7 million in March, an increase of 7.3%. Grocery sales to K Group grocery stores increased by 5.7% year-on-year. Sales in K-Citymarket’s home and speciality goods (non-food) increased. Kespro’s sales grew by 14.7%.
Sales in the building and technical trade division totalled €440.2 million in March, a decrease of 12.1% in comparable terms in local currencies. Excluding sports trade, division sales decreased by 12.5% in comparable terms. Sales decreased in comparable terms by 9.0% in Finland, 15.8% in Sweden, and 16.2% in Norway. Sports trade sales decreased by 3.2%. Reported sales in the building and technical trade division decreased by 10.0%.
Sales in the car trade division totalled €102.1 million in March, an increase of 32.8%. In March, new car registrations in Finland were up by 2.1% in passenger cars and down by 13.3% in vans compared to the year before. The number of used passenger cars sold in Finland increased by 3.3% year-on-year.
Kesko Group’s sales in March 2023 totalled €1,100.5 million, representing an increase of 0.4% in comparable terms.
Kesko Group’s sales in euros, excluding VAT, in March 2023:
|€ million||Change, %||change, %|
|Grocery trade, total||560.7||+7.3||+7.3|
|Building and technical trade, Finland||242.7||-8.4,||-8.4|
|Building and technical trade, other countries||197.5||-11.8||-16.4|
|Building and technical trade, total||440.2||-10.0||-12.1|
|Car trade, total||102.1||+32.8||+32.8|
|Common functions and eliminations||-2.5|
|Other countries, total||197.5||-11.8||-16.4|
Kesko Group’s sales in euros, excluding VAT, in January – March 2023:
|€ million||Change, %||change, %|
|Grocery trade, total||1,512.8||+8.4||+8.4|
|Building and technical trade, Finland||619.8||-2.2||-2.2|
|Building and technical trade, other countries||491.9||-7.1||-7.1|
|Building and technical trade, total||1,111.7||-4.4||-4.4|
|Car trade, total||266.2||+26.9||+26.9|
|Common functions and eliminations||-6.7|
|Other countries, total||491.9||-7.1||-7.1|
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 completed the acquisition of Elektroskandia Norge AS in Norway in March.
The number of delivery days was flat year-on-year in March in Kesko’s grocery trade and in building and technical trade in Finland, Sweden and Norway. The number of delivery days in January-March 2023 was up by one year-on-year in Kesko’s grocery trade and 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. The number or timing of delivery days in car trade does not have a similar impact on sales.
Car trade market statistics by the Finnish Information Centre of Automobile Sector.
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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