Kesko Oyj (KKOYY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Dear all, welcome to Kesko's Q2 2025 release call and also welcome to warm Helsinki, at least virtually. Today's headline is steady profit development, turnaround in construction cycle slower than previously anticipated and it describes the Q2 and also our guidance update well. Our agenda today is the following. President and CEO Jorma Rauhala will give the Q2 presentation. We have here together with us our business division presidents, Ari Akseli for grocery trade, Sami Kiiski for building and technical trade, and Johanna Ahli for car trade, as well as CFO Anu Hämäläinen. After Jorma's presentation, it is time for questions both by phone and via chat function. All the materials related to Q2 can be found at our website kesko.fi under investors. My name is Hanna Jaakkola, responsible for IR at Kesko. I will be at your service after the presentation for your questions and discussions. But now Jorma, the virtual stage is yours. Thank you, Hanna. Ladies and gentlemen, welcome also on my behalf to this release call. I am Jorma Rauhola and I have now the pleasure to present Kesko's Q2 results. Steady profit development, turnaround in construction cycles slower than previously anticipated is our headline. Q2 was actually better than we expected for grocery trade and car trade, but construction cycle improvement has been slower than anticipated and building and technical trade was comparably slightly below our expectations. Now I will give you an overview of our business performance and open up elements behind the result. In the end, I'll present updated guidance and outlook for 2025 and we are ready for the Q&A. Summary of Q2 2025. Net sales increased, profit improved by nearly 5 million euros in comparable terms, meaning excluding share of results from Keskosenokai from b...