Kesko Oyj Class A · OMXHEX:KESKOA
Kesko Oyj Class A — Investor Presentation (June 2026)
29 slides from Kesko Oyj Class A's investor presentation, June 2026
Slide 1: Davidsen - Solid Position in Growing Danish Builders' Merchant Market
DAVIDSEN - SOLID POSITION IN GROWING DANISH BUILDERS’ MERCHANT MARKET JUNE 2026 BO MICHAELSEN CEO DAVIDSEN
Slide 2: Kesko Segment Key Figures
KESKO SEGMENT KEY FIGURES NET SALES OPERATING PROFIT Car trade Car trade Sales to €81.3m €1,382m B2C-sales K-retailers ~16% 5.9% Grocery trade ~43% €6,519m Building and technical Grocery trade trade €661.4m €12,676m €12,676m €423.7m 5.2% €181.4m 6.5% Building and 3.8% technical trade B2B-sales ~41%
Slide 3: Building and Technical Trade in Brief
BUILDING AND TECHNICAL TRADE BUILDING AND TECHNICAL TRADE IN BRIEF NET SALES Onninen Leading operator in building and 80% B2B trade accounts for more Baltic technical trade in Northern Europe than 80% of net sales Onninen countries Poland K-Rauta 3% 8% Finland Customer segments: Technical profession
Slide 4: Focusing on Securing Profitability and Generating 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: Improving business perfo
Slide 5: Market Share in Danish Builders' Merchant Set to Rise Via Acquisitions
BUILDING AND TECHNICAL TRADE MARKET SHARE IN DANISH BUILDERS’ MERCHANT SET TO RISE FROM 0% TO ~17% VIA ACQUISITIONS Tømmergaarden A/S PART OF DAVIDSEN AS OF 1 JUNE 2025 • Financials: 2024 net sales €191 million, operating profit €5.5 million • Market share: ~11% in Northern and Central Jutland, 17 f
Slide 6: Denmark - Kesko's Third Largest Operating Country
BUILDING AND TECHNICAL TRADE DENMARK - KESKO’S THIRD LARGEST OPERATING COUNTRY NET SALES, M€ Q1 2026* FINLAND 905 M€ NORWAY 1 151 M€ 523 M€ SWEDEN 500 M€ POLAND AND THE 354 M€ BALTIC COUNTRIES 128 M€ Poland 385 M€ Baltics 157 M€ DENMARK 779 M€ 6 * Rolling 12 months
Slide 7: Profit Improvement in 2025 Came from Countries Outside Finland
BUILDING AND TECHNICAL TRADE PROFIT IMPROVEMENT IN 2025 CAME FROM COUNTRIES OUTSIDE FINLAND FINLAND SWEDEN NORWAY DENMARK POLAND AND THE BALTICS € million 20 21 22 23 24 25 20 21 22 23 24 25 20 21 22 23 24 25 24 25 20 21 22 23 24 25 Both K-Rauta and Closure of K-Rauta stores Significant profit Stron
Slide 8: Building and Home Improvement - Further Possibilities Outside Finland
BUILDING AND TECHNICAL TRADE BUILDING AND HOME IMPROVEMENT – STILL FURTHER POSSIBILITIES ESPECIALLY OUTSIDE FINLAND Total market size ~€18 billion Professional Consumers builders Professional Consumers Retail market (€bn) 3.1 1.8 builders Market share (2025) 12% Retail market (€bn) 1.7 0.9 Market sh
Slide 9: Technical Trade - Opportunities for Further Growth Outside Finland
BUILDING AND TECHNICAL TRADE TECHNICAL TRADE – OPPORTUNITIES FOR FURTHER GROWTH OUTSIDE FINLAND Total market size ~€22 billion Technical trade Retail Market (€bn) 2.8 Technical trade Market share 19% Retail Market (€bn) 2.4 Market share in current Market share (2025) 44% 39%* operating market (2025)
Slide 10: Nationwide Partner for the Builders of Denmark
NATIONWIDE PARTNER FOR THE BUILDERS OF DENMARK 10
Slide 11: Who We Are: From Regional Roots to a Nationwide Partner
WHO WE ARE: FROM REGIONAL ROOTS TO A NATIONWIDE PARTNER FOR THE BUILDERS OF DENMARK 11 1. Who we are 2. The way we do business 3. How we support our customers
Slide 12: The Roots in South Jutland (1944-2005)
THE ROOTS IN SOUTH JUTLAND (1944-2005) Davidsen acquires four new builder’s Povl Davidsen becomes Davidsen opens brand-new merchants and starts first co-lab Annual revenue exceeds manager for the newly HQ in Vojens, where it with homebuilding company. DKK 300 million. opened builder’s remains for ma
Slide 13: Nationwide Presence
NATIONWIDE PRESENCE Completion of the integration of 26 The Davidsen family sells new merchant branches. Davidsen launches first Davidsen HQ relocates to Kolding. 90 % of company shares Davidsen exceeds DKK 5 billion in web shop, becoming one Strategic shift towards B2B as the to Finnish company rev
Slide 14: Davidsen Ownership Structure
DAVIDSEN OWNERSHIP STRUCTURE KESKO GROUP DAVIDSEN FAMILY 90 % 10 % Kesko is a publicly listed company with more some The Davidsen family retains a 10 % 125.000 shareholders. Its largest stakeholder holds about ownership stake, remains actively 7,8 % of the shares. involved on the Board of Directors,
Slide 15: Davidsen Today
DAVIDSEN TODAY 48 DKK 5,8 BILLION STORES (Q1 2026) 1.800 76/100 JOB SATISFACTION EMPLOYEES (2024) 120th BIGGEST COMPANY IN 17 % MARKET SHARE DENMARK* IN DENMARK *Børsen.dk – Measured on comparable revenue in 2024. 15 1. Who we are 2. The way we do business 3. How we support our customers
Slide 16: 2025 Has Been Busy with Three Integrations Simultaneously
2025 HAS BEEN BUSY WITH THREE INTEGRATIONS SIMULTANEOUSLY EXCECUTED: • A single brand across the entire country • Shared IT systems and e-commerce platform • Unified core values • Consistent shelf pricing nationwide • One company operating from January 1, 2026 • Simplified customer experience throug
Slide 17: The Way We Do Business: Close to the Customer
THE WAY WE DO BUSINESS: CLOSE TO THE CUSTOMER 17 1. Who we are 2. The way we do business 3. How we support our customers
Slide 18: Our Strategic Focus
OUR STRATEGIC FOCUS LOCAL PRESENCE, STRONG EXPERTISE EFFECTIVE LOGISTICS RELEVANT RESPONSIBLE NATIONAL STRENGTH AND CLOSE CUSTOMER AND HIGH DELIVERY ASSORTMENT - SOLUTIONS AND RELATIONSHIPS RELIABILITY TAILORED LOCALLY DOCUMENTATION WE SOLVE EVERYTHING FOR YOUR BUILDING PROJECT - Powering our growth
Slide 19: The Most Local of the National Players
THE MOST LOCAL OF THE NATIONAL PLAYERS LOCAL EMPOWERMENT NATIONAL SCALE AND EFFICIENCY Close to the customer and locally engaged The strength of shared resources Expertise and Tailored Decision-making We solve it A strong Logistics and IT and Procurement Systems, Processes local assortment authority
Slide 20: How We Support Our Customers
HOW WE SUPPORT OUR CUSTOMERS: CUSTOMER SEGMENTS, PRODUCT CATEGORIES AND SERVICES 20 1. Who we are 2. The way we do business 3. How we support our customers
Slide 21: Our Customer Segments
OUR CUSTOMER SEGMENTS PROFESSIONAL CUSTOMERS 80% PRIVATE CUSTOMERS 20% CARPENTERS CONTRACTORS AND INDUSTRIAL SEMI-PROFESSIONALS DIY CUSTOMERS GARDEN MASONS ENTHUSIASTS 21 1. Who we are 2. The way we do business 3. How we support our customers
Slide 22: Strong Product Categories at Davidsen
STRONG PRODUCT CATEGORIES AT DAVIDSEN TIMBER & BUILDING MATERIALS STORE MATERIALS TIMBER & SHEET TOOLS & MACHINERY MATERIALS WINDOWS PAINT, GLUE WORKWEAR DRYWALL & & DOORS & SEALANTS & SAFETY INSULATION MASONRY & OTHER OTHER FASTENERS FOUNDATION 22 1. Who we are 2. The way we do business 3. How we s
Slide 23: Delivery You Can Rely On
DELIVERY YOU CAN RELY ON NEXT-DAY DELIVERY OF PRODUCTS AND MATERIALS Materials delivered on time – direct service from our 16 logistics centers EXPRESS DELIVERY (WHEN TIME IS CRITICAL) Need it fast? Get delivery within hours – in some cases as little as one hour CLICK & COLLECT (READY WITHIN 3 HOURS
Slide 24: Beyond Building Materials
BEYOND BUILDING MATERIALS EXPERT ADVICE Talk to our specialists – from idea to solution SAME PRICE, NO MATTER WHERE YOU BUY Your fixed salesperson ensures consistent pricing across all locations SPECIAL ORDERS If we do not have what you need, we will source it quickly LOCAL TRADE FAIRS AND DIY EVENT
Slide 25: We Invest in What Customers Notice
WE INVEST IN WHAT CUSTOMERS NOTICE STORE DEVELOPMENT NEW VISUAL IDENTITY DATA & DIGITALISATION Køge was renovated in Q1 2026 and Skive was New tagline: ”We solve it”. Better data and documentation for construction renovated in 2025. At the same time, we are building National campaign: ”We solve it p
Slide 26: Market Outlook
MARKET OUTLOOK MACRO OUTLOOK DANSK INDUSTRI/FORECON BUILDING FORECAST GDP growth forecast 2026 & 2027 Production value for 2025 +1.8% / +1.8% -0.3% / +3.0% Inflation forecast 2027 & 2028 Production value forecast 2026 +2.1% / +2.1% +3.3% / +7.3% Interest policy rate 2026 & 2027 Production value fore
Slide 27: Where Do We See Improvement Potential?
WHERE DO WE SEE IMPROVEMENT POTENTIAL? Logistics optimization Assortment Own brand Larger nationwide contractors Best practice 27
Slide 28: 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 6-8% 8 7.1% 6 Kesko 4 Kesko 3.8% 2 2.4% 0 Time 2018 2021, 2022 2025 28
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