Slide 1: Strong sales and profit in all divisions
Kesko interim report Q1/2026 Strong sales and profit in all divisions Jorma Rauhala, President and CEO 29 April 2026
Slide 2: Summary of Q1/2026
SUMMARY OF Q1/2026 • Kesko’s comparable operating profit improved, net sales grew in Q1/2026 Q1/2025 all divisions Net sales, € million 3,029.0 2,827.7 • Grocery trade: K Group stores gained market share, profitability strong Change in net sales, %* 4.6 1.1 despite investments Operating profit, € mi
Slide 3: Net sales
NET SALES €+201 million € million € million rolling 12 months 3
Slide 4: Operating profit
OPERATING PROFIT €+6.4 million € million € million rolling 12 months Operating Operating 3.4% 5.5% 6.4% 5.4% 3.4% 5.3% 5.2% margin margin 4 Comparable figures
Slide 5: Return on capital employed
RETURN ON CAPITAL EMPLOYED % rolling 12 months 5 Comparable figures
Slide 6: Financial position
FINANCIAL POSITION Good cash flow from operating activities, net debt has increased due to capital expenditure Q1/2026 Q1/2025 Cash flow from operating activities, € million 77.7 -24.5 Liquid assets, € million 169.3 147.5 Capital expenditure, € million 113.5 138.0 Interest-bearing net debt excl. lea
Slide 7: Capital expenditure
CAPITAL EXPENDITURE Main CAPEX: investments in store sites Q1/2026 Q1/2025 Store sites, € million 71.3 66.2 Acquisitions, € million - 34.8 IT, € million 5.4 3.1 Other investments, € million 36.9 33.9 Total, € million 113.5 138.0 7
Slide 8: Expenses
EXPENSES Expenses have increased mainly due to acquisitions Q1/2026 Q1/2025 Fixed costs, € million 563.6 529.6 - Employee benefit expenses, € million 244.3 223.1 - Other expenses, € million 172.6 165.3 - Depreciation, € million 146.6 141.2 Cost ratio, % 18.6 18.7 8 Figures excluding items affecting
Slide 9: Potential impacts of the Middle Eastern conflict on Kesko in Q2/2026
POTENTIAL IMPACTS OF THE MIDDLE EASTERN CONFLICT ON KESKO IN Q2/2026 No significant impacts in the short term – a prolonged crisis could weaken consumer confidence, purchasing power and corporate investments, and increase costs BUILDING AND TECHNICAL GROCERY TRADE CAR TRADE TRADE • Rise in inbound p
Slide 10: Market share gained, result strong
Grocery trade Q1 Market share gained, result strong 10
Slide 11: Grocery trade: Net sales
GROCERY TRADE NET SALES €+72 million € million € million rolling 12 months 11
Slide 12: Grocery trade: Operating profit
GROCERY TRADE OPERATING PROFIT €+5.6 million € million € million rolling 12 months Operating Operating margin 4.9% 6.9% 7.1% 6.8% 5.0% margin 6.5% 6.5% 12 Comparable figures
Slide 13: Grocery trade highlights in Q1
GROCERY TRADE HIGHLIGHTS IN Q1 • Division net sales increased and comparable operating profit improved. Most of Easter wholesale took place in March, versus April in 2025 • Total grocery market grew by approximately 2.9% • K Group grocery sales were up by 4.4% • K Group grocery stores gained market
Slide 14: Market share in grocery trade grew clearly in Q1
MARKET SHARE IN GROCERY TRADE GREW CLEARLY IN Q1 CHANGE IN THE MARKET SHARE FOR • Our objective in grocery trade is to strengthen market share while K GROUP GROCERY STORES (percentage points) maintaining good profitability (operating margin clearly above 6%) • Market share for K Group grocery stores
Slide 15: Sales grew and result improved
Building and technical trade Q1 Sales grew and result improved 15
Slide 16: Building and technical trade: Net sales
BUILDING AND TECHNICAL TRADE NET SALES €+114 million € million € million rolling 12 months 16
Slide 17: Building and technical trade: Operating profit
BUILDING AND TECHNICAL TRADE OPERATING PROFIT €+2.8 million € million € million rolling 12 months Operating Operating margin 1.1% 4.1% 5.8% 3.7% 1.3% margin 3.8% 3.8% 17 Comparable figures
Slide 18: Building and technical trade highlights in Q1
BUILDING AND TECHNICAL TRADE HIGHLIGHTS IN Q1 Q1/2026 Q1/2025 • Division net sales increased and profit improved, sales margin also improved • Market demand continued to be muted, especially in new housing construction Net sales, € million 1,147.2 1,033.1 Technical trade 555.5 527.0 • A pick-up seen
Slide 19: Sales of K-Rauta Finland and Onninen Finland
SALES OF K-RAUTA FINLAND AND ONNINEN FINLAND Retail and B2B sales development, % Onninen Q1 sales: +11.0% K-Rauta Q1 sales: -1,4% Competitors, total: -1.5% Competitors, total: -0.6% Sources: Talteka and STK Source: RaSi 19
Slide 20: Good sales development driven by used cars
Car trade Q1 Good sales development driven by used cars
Slide 21: Car trade: Net sales
CAR TRADE NET SALES €+17 million € million € million rolling 12 months 21
Slide 22: Car trade: Operating profit
CAR TRADE OPERATING PROFIT €-1.8 million € million € million rolling 12 months Operating Operating margin 5.7% 6.1% 6.4% 6.0% 4.9% margin 6.1% 5.9% 22 Comparable figures
Slide 23: Car trade highlights in Q1
CAR TRADE HIGHLIGHTS IN Q1 K-AUTO, NET SALES • Division net sales increased and comparable operating profit decreased, due to the increase in the share of used car sales, where sales margins are lower than in new car sales • Market demand for new cars still muted, Q1 first registrations of passenger
Slide 24: Long-awaited more affordable electric models coming to market
LONG-AWAITED MORE AFFORDABLE ELECTRIC MODELS COMING TO MARKET RAVAL and ID. Polo in a completely new price range CUPRA RAVAL Volkswagen ID.Polo Sales began 9 April 2026 Sales begin 29 April 2026 Prices starting at €25,990 Upcoming: ID.Polo GTI and ID. Cross 24
Slide 25: Profit guidance and outlook
PROFIT GUIDANCE AND OUTLOOK 25
Slide 26: Profit guidance for 2026
PROFIT GUIDANCE FOR 2026 Kesko Group’s profit guidance is given for the year 2026, in comparison with the year 2025. Kesko’s operating environment is estimated to improve in 2026, but to still remain somewhat challenging. Kesko’s comparable operating profit is estimated to improve in 2026. Kesko est
Slide 27: Outlook for 2026
OUTLOOK FOR 2026 The operating environment for Kesko is estimated to improve in 2026 in all divisions and all operating countries. Kesko’s net sales and comparable operating profit are also estimated to improve in 2026 in all divisions and all operating countries. In grocery trade, B2C trade is esti
Slide 28: Kesko's net sales grew and profit improved
#Kesko’s net sales grew and profit improved – an excellent performance in a turbulent operating environment #Strategic actions are yielding results in grocery trade; growth seen on all fronts for the first time since the pandemic – net sales increased, profit improved, and market share grew #In buil
Slide 29: Al
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