Kesko Oyj Class A · OMXHEX:KESKOA
Kesko Oyj Class A — Q1 2009 Earnings Presentation
18 slides from Kesko Oyj Class A's earnings presentation, Apr 28, 2009
Slide 1: Interim financial report January-March 2009
Interim financial report January-March 2009 28 April 2009
Slide 2: Kesko's interim financial report 1-3/2009
Kesko’s interim financial report 1-3/2009 • Kesko Food shows steady growth and profitability • Demand declined especially in the building and home improvement trade and the car and machinery trade • Positive cash flow from operating activities and profit before tax (€18 million) for the first quarte
Slide 3: Group's net sales
Group’s net sales (M€) 2,277 2,018 -11.4% 2,500 2,000 458 315 -31.3% 1,500 1,000 1,819 1,703 -6.4% 500 0 1-3/2008 1-3/2009 Finland 2009 84.4% Other countries 2009 15.6% Page 3 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 4: Net sales by segment 1.1.-31.3. (M€)
Net sales by segment 1.1.-31.3. (M€) 2009 2008 Change, % Food trade 888 853 4.0 Home and speciality goods trade 346 364 -5.0 Building and home improvement trade 529 695 -23.9 Car and machinery trade 296 402 -26.3 Common operations and eliminations -41 -37 9.7 Total 2,018 2,277 -11.4 Page 4 Q1 2009 M
Slide 5: Group's net sales by quarter
Group’s net sales by quarter (M€) 3,000 +6.1% +3.0% -2.4% 2,500 +6.8% 588 -11.4% 560 454 2,000 458 315 -31.3% 1,500 1,000 1,819 1,959 1,875 1,879 1,703 -6.4% 500 0 Q1 Q2 Q3 Q4 Q1 2008 2009 Finland Other countries Page 5 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 6: Operating profit by quarter (M€), continuing operations
Operating profit by quarter (M€), continuing operations 180 150 120 90 113.6 3.7 60 81.1 72.0 30 36.6 27.3 3.4 19.8 0 -28.2 -20.4 -30 Q1 Q2 Q3 Q4 Q1 2008 2009 Operating profit excl. non-recurring items, Non-recurring items, continuing operations continuing operations Page 6 Q1 2009 Media and analyst
Slide 7: Operating profit excluding non-recurring items 2000 - 2009
Operating profit excluding non-recurring items 2000 - 2009 (€ million) FAS IFRS 350 300 250 200 150 100 50 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 -50 Q1 Year Page 7 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 8: Food trade 1-3/2009
Food trade 1-3/2009 Net sales 1-3, M€ 1 000 853 888 • K-food stores’ grocery sales grew by 5.3% 800 600 • Especially the K-citymarket chain and +4.0% Pirkka products recorded a good sales 400 growth, up 14% and 12% respectively 200 • Investments in the store site network were 0 Q1/2008 Q1/2009 €17.4
Slide 9: Home and speciality goods trade 1-3/2009
Home and speciality goods trade 1-3/2009 Net sales 1-3, M€ 364 346 -5.0% 400 • Increased consumer uncertainty -46.8% 300 reflected especially in the home 200 electronics and interior decoration trade -3.2% 100 • Anttila’s sales decreased especially in 0 the Kodin Ykkönen stores Q1/2008 Q1/2009 • Sal
Slide 10: Building and home improvement trade 1-3/2009
Building and home improvement trade 1-3/2009 Net sales 1-3, M€ 695 529 -23.9% • Profit performance was affected by the 800 600 substantial decline in the Nordic and Baltic 400 -27.1% construction markets 200 • Sales performance was also affected by -20.4% 0 the weakening of the Swedish krona, the Q1
Slide 11: Car and machinery trade 1-3/2009
Car and machinery trade 1-3/2009 Net sales 1-3, M€ • VV-Auto’s net sales and profit were 402 296 -26.3% 500 decreased by the declined demand in 400 the car trade -48.6% 300 • Profit remained at a good level 200 -21.3% • Audi’s, Volkswagen’s and Seat’s 100 combined market share reached 19.0% 0 (16.4%
Slide 12: Group's investments, continuing operations
Group’s investments, continuing operations 80 60.3 51.5 60 10.3 9.1 40 50.0 20 42.3 0 1-3/2008 1-3/2009 Store sites Others Page 12 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 13: Equity ratio, %
Equity ratio, % 60 50 40 30 46.3 49.8 20 10 0 3/2008 3/2009 Page 13 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 14: Financial indicators
Financial indicators Continuing operations 1-3/2009 1-3/2008 Net sales, € million 2,018 2,277 Operating profit, € million 23.2 150.1 Operating profit excl. non-recurring items, € million 3.4 36.6 Group’s profit before tax, € million 18.2 148.6 Investments, € million 51.5 60.3 Whole Group Earnings/sh
Slide 15: Share price trend, 12 months
Share price trend, 12 months OMX Helsinki CAP KESKO B 04/08 01/09 27.4.2009 Page 15 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 16: Market capitalisation
Market capitalisation at 31 March (M€) 5 000 4 000 3,245 3 000 1,719 2 000 2,163 1,033 15.63/share 1 000 1,082 686 21.60/share 0 2008 2009 B share A share Page 16 Q1 2009 Media and analyst briefing 28 April 2009 ATa
Slide 17: 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 (4/2009-3/2010) in comparison with the 12 months preceding the reporting period (4/2008-3/2009). The developmen
Slide 18: Thank you!
Thank you! Page 18 Q1 2009 Media and analyst briefing 28 April 2009 ATa