Kesko Corp

Latest Results (06.01.2025):

Net Sales Growth

In the third quarter of 2024, Kesko Corp reported a 2.6% increase in group net sales, reaching €3,026.6 million compared to €2,949.1 million in the same period the previous year. However, when adjusted for comparable terms, net sales saw a slight decline of 0.8%. This growth was primarily driven by the building and technical trade division, which saw a 7.4% increase in net sales.

Operating Profit

Kesko Corp's operating profit for Q3 2024 was €202.1 million, a slight decrease from €206.6 million in Q3 2023. The comparable operating profit also saw a decline, totaling €201.5 million compared to €208.1 million in the previous year. This decrease was attributed to challenges in the operating environment, despite improvements in certain divisions.

Earnings Per Share

For the third quarter of 2024, Kesko Corp reported earnings per share of €0.35, down from €0.37 in the same quarter of the previous year. The comparable earnings per share also decreased to €0.34 from €0.38. This decline reflects the overall decrease in operating profit during the period.

Cash Flow

Kesko Corp's cash flow from operating activities in Q3 2024 was €285.6 million, a significant decrease from €394.9 million in Q3 2023. This reduction in cash flow is indicative of the challenging market conditions and the impact on the company's financial operations during the quarter.

Profit Guidance

Despite the challenging operating environment, Kesko Corp has specified its profit guidance for 2024, estimating a comparable operating profit of €630–680 million. This adjustment is based on the positive profit development observed in the building and technical trade division during the third quarter. The company remains optimistic about maintaining a good level of net sales and operating profit for the year.