Kesko Oyj Class A · OMXHEX:KESKOA
Kesko Oyj Class A — Non-Deal Roadshow (August 2024)
74 slides from Kesko Oyj Class A's roadshow presentation, August 2024
Slide 1: Growth Strategy: Execution Driving Growth
KESKO GROWTH STRATEGY EXECUTION DRIVING GROWTH August 2024
Slide 2: Kesko Today: Key Financials
KESKO TODAY KEY FINANCIALS Leading trading sector ~ 45 000 employees in the Net sales, € million Q2/2024 11,704.0 2023 11,783.8 #1 company in Northern Europe with retail and B2B sales of nearly €16bn whole K Group,1,800 stores, 3 divisions, comprehensive digital services in 8 countries Operating pro
Slide 3: Kesko Segment Key Figures
KESKO SEGMENT KEY FIGURES NET SALES OPERATING PROFIT Car trade Car trade Grocery trade €70.0m B2C-sales 5.9% €1,193m Sales to Grocery trade ~15% €6,344m K-retailers €439.5m Building and ~46% 6.9% Building and technical technical trade trade €656.3m €4,189m €11,704m €11,704m 5.6% B2B-sales €173.4m ~3
Slide 4: Strong Position in Finnish Food Trade Yielding Good Results
GROCERY TRADE STRONG POSITION IN FINNISH FOOD TRADE YIELDING GOOD RESULTS 4
Slide 5: Grocery Trade Division in Brief
GROCERY TRADE GROCERY TRADE DIVISION IN BRIEF 34.3% MARKET 1,200 stores 6,300 SHARE IN employees The leading foodservice More than 700 K Group 2023 provider in Finland (NIELSEN) grocery stores offer online 900 grocery services K-retailers 47.9% market share NET SALES 2023 2022 2021 KCM non-food Net
Slide 6: Strong Position in All Areas of Finnish Food Trade
STRONG POSITION IN ALL AREAS OF FINNISH FOOD TRADE • Strong No. 2 in Finnish grocery trade, with a market • No. 1 in Finnish foodservice trade, with a market share of over 34% share of approx. 48% • Finland’s most extensive network of grocery stores, • Finland’s biggest online store for food, some 7
Slide 7: Grocery Trade Division: Grocery Store Business
GROCERY TRADE DIVISION GROCERY STORE BUSINESS In brief: Market and market shares: Operates in Finland, business comprises three grocery store Total Finnish grocery trade market €21–22 billion; chains with some 1,200 stores across the country operated Kesko the second biggest operator with a market b
Slide 8: Kesko and K-Retailers
KESKO AND K-RETAILERS Wholesale, product strategy Chain agreement, chain steering Services and business KESKO support Store concepts Chain selections, wholesale Responsible purchasing channels, K-RETAILERS purchasing alliances, logistics Responsible for ensuring customer Own brands satisfaction, res
Slide 9: Grocery Trade Division: Foodservice Business
GROCERY TRADE DIVISION FOODSERVICE BUSINESS In brief: Market and market share: Operates in Finland, business comprises Kespro’s foodservice Total Finnish foodservice market €2.5 billion; wholesale with 13 cash-and-carry outlets and online sales Kespro the market leader with a market share (70% of to
Slide 10: A Good Result in a Challenging Economic Cycle
BUILDING AND TECHNICAL TRADE A GOOD RESULT IN A CHALLENGING ECONOMIC CYCLE 10
Slide 11: Building and Technical Trade in Brief
BUILDING AND TECHNICAL TRADE BUILDING AND TECHNICAL TRADE IN BRIEF NET SALES Leading operator in building and B2B trade accounts for more technical trade in Northern Europe 80% than 80% of net sales Onninen Baltic Onninen countries 3% Poland 7% K-Rauta Customer segments: Technical professionals, pro
Slide 12: Leading Player in Building and Technical Trade in Northern Europe
LEADING PLAYER IN BUILDING AND TECHNICAL TRADE IN NORTHERN EUROPE Total retail sales of €6.0 billion*, B2B accounts for over 80% of sales** TECHNICAL TRADE BUILDING AND HOME IMPROVEMENT TRADE • Net sales €2,344.7 million • Net sales € 1,912.1 million • Operating profit €128.5 million • Operating pro
Slide 13: Building and Technical Trade: Technical Trade
BUILDING AND TECHNICAL TRADE TECHNICAL TRADE In brief: Market and market shares: Operates in 7 countries. Kesko subsidiary Onninen offers Total market (est.) for 8 countries (incl. Denmark) technical wholesale products and services (offering varies €23 bn; Kesko’s market shares Finland 45% (market b
Slide 14: Technical Trade: Still Further Potential for Growth
TECHNICAL TRADE STILL FURTHER POTENTIAL FOR GROWTH Market size €23 billion Technical trade Retail market (€bn) 3.3 Technical trade Market share 20 % Retail market (€bn) 2.6 Market share of current Market share 45% 41%* operating market Technical trade Retail market (€bn) 7.8 Technical trade Market s
Slide 15: Building and Technical Trade: Building and Home Improvement
BUILDING AND TECHNICAL TRADE BUILDING AND HOME IMPROVEMENT In brief: Market and market shares: Operates in 7 countries; offers products and services for Total market (est.) for 8 countries (incl. Denmark) building, renovation, garden, interior decoration and home €25 bn; Kesko’s market shares Finlan
Slide 16: Successful M&A Carried Out – Still Further Possibilities
BUILDING AND HOME IMPROVEMENT SUCCESSFUL M&A CARRIED OUT – STILL FURTHER POSSIBILITIES Market size €21 billion Professional Consumers builders Professional Consumers Retail market (€bn) 3.7 1.9 builders Market share 2023 13% Retail market (€bn) 1.8 1.0 Market share 49% Professional Consumers builder
Slide 17: Strong Focus on B2B Trade in Building and Home Improvement
STRONG FOCUS ON B2B TRADE IN BUILDING AND HOME IMPROVEMENT TRADE ALSO IN FINLAND Case K-Rauta, Finland B2B-sales B2C-sales, project customers B2C-sales, occational customers 18% 22% 60% DIRECT DELIVERIES TO INDUSTRY 17 Project customers purchase typically e.g. the whole kitchen or bathroom renovatio
Slide 18: Good Result in Car Trade
CAR TRADE GOOD RESULT IN CAR TRADE 18
Slide 19: Car Trade in Brief
CAR TRADE CAR TRADE IN BRIEF K-Auto is the leading and most interesting automotive company 2023 2022 2021 in Finland Net sales, € million 1,079 911 1,028 Importing and sales of attractive and high-quality new cars. Operating profit*, € million 73 48 52 Significant multi-brand used car sales in Finla
Slide 20: Car Trade
CAR TRADE In brief: Market and market shares: Operates in Finland. The whole value chain - imports and sells Total first registrations of new cars in Finland approx. Volkswagen Group car brands, sells used cars, and offers car- 90,000 in 2023, of which Kesko’s K-Auto accounted for related services (
Slide 21: Highlights of the Strategy
HIGHLIGHTS OF THE STRATEGY 21
Slide 22: Kesko Is Affected by Various Megatrends
KESKO IS AFFECTED BY VARIOUS MEGATRENDS INTEREST RATES & INFLATION URBANISATION CLIMATE CHANGE & GREEN TRANSITION • Weak FOCUS : consumer and business confidence • Migration to growth centres • Energy efficiency and energy infrastructure investments • Higher cost of capital • Substantial infra and b
Slide 23: Kesko Growth Strategy
KESKO GROWTH STRATEGY THE LEADING AND MOST ATTRACTIVE TRADING SECTOR VISION GROWTH COMPANY IN NORTHERN EUROPE STRATEGIC DELIVERING STRENGTHENING BUILDING A FOCUSED INCREASING TARGETS PROFITABLE GROWTH MARKET POSITION B2C AND B2B CUSTOMER VALUE BUSINESS PORTFOLIO COMPETITIVE OPERATIONAL OMNICHANNEL K
Slide 24: Grocery Trade: Maintain Good Profitability and Gain Market Share
GROCERY TRADE: TARGET TO MAINTAIN GOOD PROFITABILITY AND GAIN MARKET SHARE KEY ACTIONS: • STRENGTHENING STORE SPECIFIC BUSINESS IDEAS: INVESTMENTS WILL HAVE A SLIGHT EFFECT ON Focusing on strengthening chosen competitive advantages PROFITABILITY. and raising the level of stores. • DEVELOPING STORE S
Slide 25: Grocery Trade Store Site Investment: Focus on Growth Centres
GROCERY TRADE GROCERY TRADE STORE SITE INVESTMENT FOCUS ON GROWTH CENTRES Emphasising hypermarkets and other larger units • Urbanisation is expected to accelerate in Finland • Long-term store site investment program to ensure Kesko’s competitiveness and market share development • During up-coming ye
Slide 26: New Hypermarkets to Be Opened in Finnish Growth Centres
GROCERY TRADE NEW HYPERMARKETS TO BE OPENED IN FINNISH GROWTH CENTRES Several new growth centre hypermarkets in pipeline • K-Supermarket Columbus in Eastern Helsinki to be converted into a K-Citymarket hypermarket in 2024 • New K-Citymarket in Lempäälä near Tampere in 2025 • New K-Citymarket in Laht
Slide 27: Acquisitions Have Played a Significant Role in International Growth
BUILDING AND TECHNICAL TRADE ACQUISITIONS HAVE PLAYED A SIGNIFICANT ROLE IN INTERNATIONAL GROWTH 4/2016 6-7/2018 1/2019 3/2020 08/2021 4/2022 3/2023 1/2024 Suomen Reinin Liha Sørbø Trelast MIAB Kungälvs Trä Djurbergs Zenitec Sweden Davidsen A/S Lähikauppa and Kalatukku and Tau & Jørpel €18 million €
Slide 28: Elektroskandia Strengthened Onninen's Position in Norway
BUILDING AND TECHNICAL TRADE ELEKTROSKANDIA STRENGTHENED ONNINEN’S POSITION IN TECHNICAL TRADE IN NORWAY ONNINEN NOW THE MARKET LEADER IN ELECTRICAL WHOLESALE IN NORWAY • Kesko acquired Elektroskandia Norge in March 2023 • One of the most significant distributors of electricals in Norway • Net sales
Slide 29: Entry to Denmark an Important Strategic Step
BUILDING AND TECHNICAL TRADE ENTRY TO DENMARK AN IMPORTANT STRATEGIC STEP • Kesko has a consistent strategy in building and technical trade: to consolidate the market in Northern Europe and to be among the leading players in B2B business in each country • The Danish market is not yet consolidated, g
Slide 30: Danish Builders' Merchant Market Share to Rise via Acquisitions
BUILDING AND TECHNICAL TRADE MARKET SHARE IN DANISH BUILDERS’ MERCHANT SET TO RISE FROM ~10% TO ~20% VIA ACQUISITIONS DAVIDSEN ACQUISITIONS ANNOUNCED ON 14 AUGUST 2024 * KESKO SUBSIDIARY AS OF 1 FEB. 2024 TØMMERGAARDEN A/S • Kesko acquired 90% of the Company: A builders’ merchant focusing mainly on
Slide 31: Building and Technical Trade: Securing Profitability and Cash Flow
BUILDING AND TECHNICAL TRADE BUILDING AND TECHNICAL TRADE: FOCUSING ON SECURING PROFITABILITY AND GENERATING CASH FLOW KEY ACTIONS: • FINLAND: Continuing growth and winning market share. THE LONG-TERM STRATEGIC TARGET OF 6-8 % EBIT MARGIN IS STILL VALID. • SWEDEN AND NORWAY: Stabilising and improvin
Slide 32: Building and Technical Trade Long-Term EBIT-% Target Intact
BUILDING AND TECHNICAL TRADE BUILDING AND TECHNICAL TRADE LONG-TERM EBIT-% TARGET INTACT EBIT-% Target Kesko 8 6-8% 6 7.1% Kesko 4 5.1% Kesko 2 2.4% 0 2018 2021 2023 Time 32
Slide 33: Car Trade: Performing Better Than the Market
CAR TRADE CAR TRADE: FOCUSING ON PERFORMING BETTER THAN THE MARKET IN ALL BUSINESSES KEY ACTIONS: • CONTINUING WITH GROWTH STRATEGY: SOLID EBIT DEVELOPMENT Major turnaround and continuous development establish a robust foundation for the next strategy period. #1 IN BRAND AWARENESS AND PREFERENCE • M
Slide 34: Kesko's Financial Targets Intact
KESKO’S FINANCIAL TARGETS INTACT TARGET 2023 OPERATING MARGIN, OVER 6% COMPARABLE 6.0% RETURN ON CAPITAL OVER 14.5% 13.4% EMPLOYED, COMPARABLE, % INTEREST-BEARING NET DEBT/EBITDA, AT MAXIMUM 2.5 0.7 EXCLUDING IFRS 16 IMPACT 34
Slide 35: Sustainability Is Integrated into Our Business
SUSTAINABILITY IS INTEGRATED INTO OUR BUSINESS SUSTAINABILITY STRATEGY VISION EXECUTION BY THE BUSINESS DIVISIONS We enable sustainable choices for our customers and Grocery trade drive change throughout the value chain Building and technical trade Car trade FOCUS AREAS Climate and nature PROGRESS M
Slide 36: Focus Areas and Key Objectives in ESG
FOCUS AREAS AND KEY OBJECTIVES IN ESG WE ENABLE SUSTAINABLE CHOICES FOR OUR CUSTOMERS AND DRIVE CHANGE THROUGHOUT THE VALUE CHAIN Achieving carbon neutral K Group • Carbon neutrality by 2025 and zero emissions by 2030 in our own operations and transports Ensuring sustainability in the supply chain I
Slide 37: One of the Most Sustainable Trading Sector Operators
KESKO IS ONE OF THE MOST SUSTAINABLE TRADING SECTOR OPERATORS IN THE WORLD Kesko’s sustainability has been recognised in various independent assessments Kuva, joka sisältää kohteen teksti Kuvaus luotu automaattisesti Kuva, joka sisältää kohteen teksti, clipart-kuva Kuvaus luotu automaattisesti 37
Slide 38: Forerunner in Trading Sector Digitalisation
FORERUNNER IN TRADING SECTOR DIGITALISATION Using digitalisation to improve customer experience and make operations more efficient Online and digital sales Data and analytics at the core Digitalisation of stores and Digitalisation increases growing forcefully of business operations processes proceed
Slide 39: Sales via Digital Channels Over €2.0 Billion
SALES VIA DIGITAL CHANNELS OVER €2.0 BILLION 2% 1% 11% 44% 42% K-ruoka.fi (online grocery) Kespro (foodservice) Onninen Building and home improvement Sportstrade 39 Q2 2024, rolling 12 months, excl. VAT
Slide 40: Dividend
DIVIDEND Dividend for 2023: €1.02 / share, to be paid in four instalments. Kesko's dividend policy: In the long-term, Kesko aims to distribute a steadily growing dividend of some 60-100% of its comparable earnings per share, taking into account the company’s financial position and strategy. 1.54 1,5
Slide 41: Number of Shareholders Has Grown
NUMBER OF SHAREHOLDERS HAS GROWN ~115,000 REGISTERED SHAREHOLDERS BALANCED OWNERSHIP STRUCTURE 115 000 105 000 26,3 % 32,7 % 95 000 85 000 7,5 % 75 000 65 000 33,5 % 55 000 45 000 Nominee-registered, foreign ownership 35 000 Finnish institutions 07 07 07 07 07 07 01/19 04 04 04 04 04 04 01/21 01/20
Slide 42: Jorma Rauhala Appointed Kesko's President and CEO
JORMA RAUHALA APPOINTED KESKO’S PRESIDENT AND CEO AS OF 1 FEBRUARY 2024 MASTER OF SCIENCE (ECON.), BORN 1965 A STRONG TRACK-RECORD IN RESULT-DRIVEN LEADERSHIP A LONG CAREER IN KESKO WITH VARIOUS RESPONSIBILITIES • Joined Kesko Corporation in 1992 • President of building and technical trade division
Slide 43: Kesko Strategy Summary 2024-2026
KESKO STRATEGY SUMMARY 2024-2026 # The portfolio will most likely stay as is during 2024-2026. The focus is on maintaining and further developing current businesses. # Targeting growth and profitability improvement as outlook strengthens in construction in 2025-2026. # In grocery trade, focusing on
Slide 44: Good Performance in a Weak Market – Half-Year Report Q2/2024
KESKO HALF-YEAR FINANCIAL REPORT Q2/2024 GOOD PERFORMANCE IN A WEAK MARKET Jorma Rauhala President and CEO 23 July 2024
Slide 45: Key Events in Q2/2024
KEY EVENTS IN Q2/2024 • Net sales and profit decreased as expected, cash flow from operating activities Q2/2024 Q2/2023 strengthened Net sales, € million 3,093.4 3,104.7 • Grocery trade: net sales down, profit at a good level Change in net sales, %* -4.1 -0.8 • Building and technical trade: profitab
Slide 46: Net Sales
NET SALES - €11 million 11,784 11,704 12 000 12,000 3,105 3,093 2,949 2,902 3 000 3,000 2,828 2,759 10 000 10,000 8 000 8,000 € million 2 000 2,000 € million 6,000 6 000 44,000 000 1,000 1 000 22,000 000 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months 46
Slide 47: Operating Profit
OPERATING PROFIT - €29.3 million 800 712.0 207.6 208.1 656.3 200 178.3 600 170.5 € million 125.9 € million 400 99.5 100 200 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months Operating Operating margin 4.5% 6.7% 7.1% 5.9% 3.6% 5.8% 6.0% 5.6% margin 47 Comparable figures
Slide 48: Return on Capital Employed
RETURN ON CAPITAL EMPLOYED 20 17.4 16.5 15.8 15 13.6 13.4 11.4 11.8 10 % 8.5 5 0 Grocery trade Building and technical trade Car trade Group 2023 Q2/2024 rolling 12 months 48 Comparable figures
Slide 49: Financial Position
FINANCIAL POSITION Q2/2024 Q2/2023 Cash flow from operating activities, € million 309.0 285.2 Liquid assets, € million 354.4 271.0 Capital expenditure, € million 128.4 161.2 Interest-bearing net debt excl. lease liabilities, € million 847.3 629.6 Interest-bearing net debt / EBITDA (excl. IFRS 16 imp
Slide 50: Capital Expenditure
CAPITAL EXPENDITURE Q2/2024 Q2/2023 Store sites, € million 68.2 79.2 Acquisitions, € million -0.0 1.4 IT, € million 5.5 5.6 Other investments, € million 54.7 75.0 Total, € million 128.4 161.2 50
Slide 51: Expenses
EXPENSES Expenses up due to the Davidsen acquisition and real estate costs Q2/2024 Q2/2023 Fixed costs, € million 531.5 494.9 - Employee benefit expenses, € million 217.9 201.9 - Other expenses, € million 172.5 161.2 - Depreciation, € million 141.1 131.7 Cost ratio, % 17.2 15.9 51 Figures excluding
Slide 52: Profitability at a Good Level
GROCERY TRADE PROFITABILITY AT A GOOD LEVEL 52
Slide 53: Grocery Trade: Net Sales
GROCERY TRADE NET SALES - €28 million 6,352 6,344 1,624 1,593 1,639 1,596 1,495 1,515 6 000 6,000 1 500 1,500 5,500 5 500 € million € million 1 000 1,000 5,000 5 000 500 4 500 4,500 0 4 000 4,000 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months 53
Slide 54: Grocery Trade: Operating Profit
GROCERY TRADE OPERATING PROFIT - €3.9 million 444.8 439.5 118.4 124.2 400 118.2 114.5 120 300 90 83.9 82.5 € million € million 60 200 30 100 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months Operating margin 5.6% 7.3% 7.4% 7.6% 5.4% 7.2% 7.0% 6.9% 54 Comparable figures
Slide 55: Key Events in Grocery Trade in Q2
KEY EVENTS IN GROCERY TRADE IN Q2 • Net sales and profit decreased, operating margin close to flat year-on-year • K Group grocery sales down by 1.1% • Kespro’s net sales down by 1.3%, still again exceeding market growth • K-Citymarket non-food sales down by 4.3% • Online grocery sales up by 13.5% th
Slide 56: Beverages with 5.6-8.0% Alcohol Content Added to Grocery Stores
BEVERAGES WITH 5.6-8.0% ALCOHOL CONTENT SUCCESSFULLY ADDED TO GROCERY STORE SELECTIONS • Change in Finnish legislation has enabled the sales of beverages with a 5.6-8.0% alcohol content in grocery stores as of 10 June • Impact of the legislative change on Kesko’s sales expected to be around few doze
Slide 57: Result in Line with Expectations in a Difficult Cycle
BUILDING AND TECHNICAL TRADE RESULT IN LINE WITH EXPECTATIONS IN A DIFFICULT CYCLE 57
Slide 58: Building and Technical Trade: Net Sales
BUILDING AND TECHNICAL TRADE NET SALES €55 million 1,204 1,200 1 200 1,149 4,193 4,189 1,023 1,050 971 964 44,000 000 € million 800 € million 33,000 000 400 0 22,000 000 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months 58
Slide 59: Building and Technical Trade: Operating Profit
BUILDING AND TECHNICAL TRADE OPERATING PROFIT - €15.9 million 90 212.5 200 72.0 69.8 173.4 60 56.1 € million € million 40.6 100 30.0 30 6.8 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months Operating margin 2.9% 6.3% 6.6% 4.2% 0.7% 4.7% 5.1% 4.1% 59 Comparable figures
Slide 60: Key Events in Building and Technical Trade in Q2
KEY EVENTS IN BUILDING AND TECHNICAL TRADE IN Q2 Q2/2024 Q2/2023 • Construction cycle still weak in the Nordics; turnaround seen in Poland and the Baltics Net sales, € million 1,203.7 1,148.8 where Onninen’s sales growing Technical trade 583.8 614.1 • Overall, net sales and operating profit developm
Slide 61: Sales of K-Rauta Finland and Onninen Finland 2019-2024
61 -5% -25% 0% 5% 25% -15% -20% -10% 10% 15% 20% Q1/2019 Q2/2019 Retail and B2B sales % Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 IN 2019-2024 Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 SALES OF K-RAUTA FINLAND AND ONNINEN FINLAND Q2
Slide 62: Good Performance in a Challenging Market
CAR TRADE GOOD PERFORMANCE IN A CHALLENGING MARKET 62
Slide 63: Car Trade: Net Sales
CAR TRADE NET SALES - €39 million 1,262 1,193 338 1 200 1,200 316 311 297 299 300 286 900 € million 200 € million 600 100 300 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months 63 Figures incl. sports trade
Slide 64: Car Trade: Operating Profit
CAR TRADE OPERATING PROFIT - €9.5 million 30 82.6 80 24.3 24.3 70.0 19.5 60 20 € million 16.4 € million 14.4 14.9 40 10 20 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 2023 Q2/2024 rolling 12 months Operating margin 6.2% 7.2% 7.8% 4.8% 5.7% 5.0% 6.5% 5.9% 64 Comparable figures Figures incl. sports trade
Slide 65: Key Events in Car Trade in Q2
KEY EVENTS IN CAR TRADE IN Q2 • Market demand for new cars muted, Q2 first registrations in Finland -19.7% K-AUTO NET SALES (passenger cars and vans); market for used cars up +2.9% New cars Used cars Services • Net sales and profitability at expected level in a difficult market 21 % • New car sales
Slide 66: Key Highlights
KEY HIGHLIGHTS 66
Slide 67: Key Highlights by Division
GROCERY TRADE BUILDING AND TECHNICAL CAR TRADE TRADE FOCUS : • Consumer confidence still weak, • A balanced business portfolio • Market showing signs of picking but has improved in recent months up in all operating countries, ONE UNIFIE D • New car sales muted, but GROCE RY TRAD E though the cycle s
Slide 68: Outlook and Guidance
OUTLOOK AND GUIDANCE 68
Slide 69: Outlook
OUTLOOK In grocery trade, B2C trade and the foodservice market are expected to remain stable despite tightened price competition, and inflation is expected to slow down in 2024. Profitability in grocery trade is estimated to remain good also in 2024. In building and technical trade, the market is ex
Slide 70: Guidance for 2024 (Specified)
GUIDANCE FOR 2024 (SPECIFIED) Kesko Group’s profit guidance is given for the year 2024, in comparison with the year 2023. Kesko’s operating environment is estimated to remain challenging in 2024. Kesko’s net sales and operating profit are estimated to remain at a good level in 2024 despite the chall
Slide 71: Management and IR Contact
MANAGEMENT AND IR CONTACT 71
Slide 72: Kesko Group Management Board
KESKO GROUP MANAGEMENT BOARD President and CEO Jorma Rauhala EVP, Chief Financial Officer EVP, Human Resources Anu Hämäläinen Matti Mettälä EVP, Brand and Communications EVP, Legal and Sustainability Karoliina Partanen Lasse Luukkainen Grocery trade Building and technical trade Car trade President P
Slide 73: IR Contact
IR CONTACT Hanna Jaakkola Vice President, Investor Relations tel.+358 40 5666 070 hanna.jaakkola@kesko.fi
Slide 74: Al
Al