Slide 1: Interim report January-June 2010
Interim report January-June 2010 23 July 2010 CFO Arja Talma
Slide 2: Increasing customer satisfaction and efficiency generate results
Increasing customer satisfaction and efficiency generate results • Positive trend in Kesko’s net sales strengthened and profit improved clearly compared to the previous year • K-citymarket, Anttila, Asko, Sotka and Intersport clearly improved their profitability • Volkswagen, Audi and Seat achieved
Slide 3: Net sales by division 1.4.-30.6. (M€)
Net sales by division 1.4.-30.6. (M€) 2010 2009 Change,% Food trade 976 974 0.2 Home and speciality goods trade 334 331 0.9 Building and home improvement trade 712 643 10.6 Car and machinery trade 298 233 27.6 Common operations and eliminations -41 -39 4.6 Total 2,279 2,143 6.4 Page 3 Q2 2010 Media
Slide 4: Group's net sales by quarter
Group’s net sales by quarter (M€) 2 500 +6.4% -15.9% -12.4% -7.7% -11.4% -3.0% 409 +3.6% 2 000 395 392 346 304 272 1 500 +7.0% 1 000 1 713 1 741 1,807 1,686 1 686 1 870 1,870 1,713 1,748 1 748 1,741 1 807 500 0 Q1 Q2 Q3 Q4 Q1 Q2 2009 2010 Finland Other countries Page 4 Q2 2010 Media and analyst brie
Slide 5: Net sales by division 1.1.-30.6. (M€)
Net sales by division 1.1.-30.6. (M€) 2010 2009 Change,% Food trade 1,888 1,861 1.4 Home and speciality goods trade 689 677 1.8 Building and home improvement trade 1,207 1,173 2.9 Car and machinery trade 534 529 0.9 Common operations and eliminations -81 -80 1.5 Total 4,237 4,160 1.8 Page 5 Q2 2010
Slide 6: Operating profit excl. non-recurring items by division 1.4.-30.6. (M€)
Operating profit excl. non-recurring items by division 1.4.-30.6. (M€) 2010 2009 Change Food trade 42.1 30.1 12.0 Home and speciality goods trade 7.0 -6.0 13.0 Building and home improvement trade 17.9 14.8 3.1 Car and machinery trade 14.1 1.9 12.2 Common operations and eliminations -3.1 -4.4 1.3 Tot
Slide 7: Operating profit by quarter
Operating profit by quarter (M€) 120 90 50.1 50,1 1,0 1.0 60 0,8 0.8 6,3 78.1 78,1 30 36,4 36.4 47.5 47,5 68.0 0,1 68,0 0.1 19.8 19,8 20,9 20.9 0 3,4 Q1 Q2 Q3 Q4 Q1 Q2 2009 2010 Operating ilman Liikevoitto profit excl. non-recurring kertaluonteisia items eriä Kertaluonteiset erät Non-recurring items
Slide 8: Operating profit excl. non-recurring items by division 1.1.-30.6. (M€)
Operating profit excl. non-recurring items by division 1.1.-30.6. (M€) 2010 2009 Change Food trade 73.7 63.9 9.9 Home and speciality goods trade 7.1 -16.7 23.8 Building and home improvement trade 4.2 5.6 -1.5 Car and machinery trade 20.5 -4.1 24.6 Common operations and eliminations -6.5 -9.0 2.4 Tot
Slide 9: Group's profit before tax
Group’s profit before tax 1-6/2010 (M€) 100.6 110 0,6 0.6 1,0 1.0 90 56.5 70 50 26,1 26.1 99,0 99.0 30 39,8 39.8 10 -10 -9.5 -9,5 1-6/2009 1-6/2010 Net financial ja Rahoitusnetto items and income from osakkuusyhtiötulos associates ilman excl. non-recurring kertaluonteisia eriä items Non-recurringerä
Slide 10: Food trade 1-6/2010
Food trade 1-6/2010 Net sales 1-6, M€ • K-food stores’ grocery sales grew by 2 000 1,861 1,888 +1.4% 3.3% (VAT 0%) 1 500 • Growing customer satisfaction and 1 000 efficiency reflected in sales and profit growth 500 • Four new K-supermarkets and six K- 0 2009 2010 markets were opened during the first
Slide 11: Home and speciality goods trade 1-6/2010
Home and speciality goods trade 1-6/2010 Net sales 1-6, M€ 800 677 689 +1.8% • K-citymarket’s sales clearly increased and -30.0% new hypermarkets have performed better 600 than expected +2.3% 400 • Asko’s and Kodin Ykkönens’ sales grew 200 especially in interior decoration products 0 • Budget Sport
Slide 12: Building and home improvement trade 1-6/2010
Building and home improvement trade 1-6/2010Net sales 1-6, M€ 1 500 1,173 1,207 +2.9 % • Building and home improvement trade market returned to growth in Finland, 1 000 +0.9 % Sweden and Norway. Weak market situation continues in the Baltic 500 +5.1 % countries 0 • Profit for the first part of the y
Slide 13: Car and machinery trade 1-6/2010
Car and machinery trade 1-6/2010 Net sales 1-6, M€ • VV-Auto’s comparable net sales grew 600 529 534 +0.9% by 17% -28.1% • Record level market share of Audi, 400 Volkswagen and Seat at 19.9% +5.7% (18.4%) 200 • Konekesko’s net sales growth was dampened by the disposal of 0 agricultural supplies trad
Slide 14: Group's investments (M€)
Group’s investments (M€) 120 107.2 100 18.8 87.7 80 24.2 60 88.4 40 .63,5 63.5 20 0 1-6/2009 1-6/2010 Others Store sites Page 14 Q2 2010 Media and analyst briefing 23.7.2010 ATa
Slide 15: Equity ratio, %
Equity ratio, % 51.0 51.2 06/2009 06/2010 Page 15 Q2 2010 Media and analyst briefing 23.7.2010 ATa
Slide 16: Interest-bearing net liabilities
Interest-bearing net liabilities (M€) 06/2009 06/2010 Page 16 Q2 2010 Media and analyst briefing 23.7.2010 ATa
Slide 17: Performance indicators
Performance indicators 1-6/2010 1-6/2009 Net sales, € million 4,237 4,160 Operating profit, € million 100.0 65.9 Operating profit excl. non-recurring items, € million 99.0 39.8 Group’s profit before tax, € million 100.6 56.5 Investments, € million 87.7 107.2 Earnings/share, €, diluted 0.67 0.31 Earn
Slide 18: Share price trend 12 mo
Share price trend 12 mo KESKO B OMX Helsinki CAP 07/09 01/10 21.7.2010 Page 18 Q2 2010 Media and analyst briefing 23.7.2010 ATa
Slide 19: Market capitalisation
Market capitalisation 30.6. (M€) 2,626 1,904 26.63/share 26.60/share B share A share Page 19 Q2 2010 Media and analyst briefing 23.7.2010 ATa
Slide 20: Future outlook
Future outlook Estimates of the future outlook for the Kesko Group's net sales and operating profit excluding non-recurring items are given for the 12 months following the reporting period (7/2010-6/2011) in comparison with the 12-month period preceding the reporting period (7/2009-6/2010). The outl
Slide 21: Thank you!
Thank you! Sivu 21 Q2 2010 Media and analyst briefing 23.7.2010 ATa