Kesko Corp

Latest Results (19.11.2025):

Kesko Corporation’s Q2 2024 financial report indicates a resilient performance amid a challenging market environment. The company posted net sales of €3,093.4 million, reflecting a slight year-on-year decline, while maintaining strong cash flow from operating activities at €309.0 million. Despite pressure on margins—with comparable operating profit at €178.3 million and an operating margin of 5.8%—Kesko reported steady performance across its divisions and has reinforced its full-year 2024 profit guidance amid cautious economic expectations.

Net Sales & Operating Profit

In Q2 2024, Kesko Corporation achieved net sales of €3,093.4 million, marking a marginal decrease of 0.4% year-on-year. The comparable operating profit reached €178.3 million, reflecting some pressure on profitability with the operating margin declining from 6.7% in the comparable period of 2023.

Division Performance

The grocery trade division registered net sales of €1,596.5 million with moderate declines, though online grocery sales surged by 13.5%. In building and technical trade, net sales benefited from the Davidsen acquisition, even as profitability was affected by a weak construction cycle in the Nordic markets. The car trade division experienced lower new car sales, while used car and service sales showed improvement.

Cash Flow & Investment

Kesko recorded robust cash flow of €309.0 million from operating activities, underscoring its cost-efficiency. However, capital expenditure was notable at €128.4 million, reflecting ongoing investments in the business during a turbulent economic period.

Guidance & Outlook

The company has updated its outlook for 2024, estimating that its comparable operating profit will range from €620–680 million. Despite an overall challenging operating environment—with headwinds from inflation, geopolitical tensions, and market-specific downturns—Kesko remains focused on profitable growth and strategic investments in digital services and operational efficiency.