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    KESKOB   FI0009000202

KESKO OYJ

(KESKOB)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 08/03 03:59:58 pm
37.405 EUR   +2.14%
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Kesko Oyj : comparable sales grew in May

06/14/2021 | 12:31pm EDT

Kesko Group's sales totalled €1,002.6 million in May 2021, representing an increase of 14.5% in comparable terms on the previous year.

"Kesko's sales grew by 14.5% in comparable terms in May. Sales in the grocery trade division grew by 5.0% thanks to strong sales development in Kespro and K-Citymarket's home and speciality goods trade. Growth in the building and technical trade division continued strong in all operating countries - in comparable terms, the division's sales grew by 17.8%. In the car trade division, sales were strong and up by 69.4%, and our market share also grew", says Kesko's President and CEO Mikko Helander.

Sales in the grocery trade division totalled E480.8 million in May, an increase of 5.0%. Grocery sales to K-food stores decreased by 1.1% from the strong level achieved in May 2020 due to the pandemic. Sales grew by 7.6% in K-Citymarket's home and speciality goods, and Kespro's sales were up by 54.2%.

Sales in the building and technical trade division totalled E423.3 million in May, an increase of 17.8% in comparable terms in local currencies. Sales in the building and technical trade excluding the speciality goods trade grew by 18.0% in comparable terms. Sales in Finland grew by 18.4% and sales elsewhere by 17.4%. In the speciality goods trade, sales in the leisure trade increased by 14.0%. Reported sales in the building and technical trade increased by 0.6%.

Sales in the car trade division totalled E100.4 million in May, an increase of 69.4%.

Kesko Group's sales in May totalled E1,002.6 million, representing an increase of 14.5% in comparable terms.

Kesko Group's sales in euros, excluding VAT, in May 2021:

May 2021 Comparable
E million Change, % change, %
Grocery trade, total 480.8 +5.0 +5.0
Building and technical trade, Finland 227.9 +17.0 +18.0
Building and technical trade, other countries 195.4 -13.5 +17.4
Building and technical trade, total 423.3 +0.6 +17.8
Car trade, total 100.4 +69.4 +69.4
Common functions and eliminations -1.9
Grand total 1,002.6 +7.1 +14.5
Finland, total 807.2 +13.7 +13.9
Other countries, total 195.4 -13.5 +17.4
Grand total 1,002.6 +7.1 +14.5

Kesko Group's sales in euros, excluding VAT, in January-May 2021:

1.1.-31.5.2021 Comparable
E million Change, % change, %
Grocery trade, total 2,323.7 +2.5 +2.5
Building and technical trade, Finland 985.2 +12.1 +12.2
Building and technical trade, other countries 797.8 -15.0 +14.2
Building and technical trade, total 1,783.0 -1.9 +13.0
Car trade, total 460.9 +33.5 +33.5
Common functions and eliminations -9.6
Grand total 4,558.0 +3.1 +8.9
Finland, total 3,760.2 +8.0 +8.0
Other countries, total 797.8 -15.0 +14.2
Grand total 4,558.0 +3.1 +8.9

                     

Change % indicates the change when compared to the corresponding period of the previous year. The comparable change % has been calculated in local currencies and excluding the impact of Kesko Senukai and acquisitions and divestments completed in 2020.

The reported sales for Kesko Group include the acquisitions and divestments completed in 2020, in accordance with the dates of completion. In 2020, the building and technical trade division completed the acquisitions of Mark & Infra i Sverige, Carlsen Fritzøe Handel, and Bygg & Interiör, and the divestment of Konekesko's machinery trade operations in the Baltics.

In May 2021, the number of delivery days in Kesko's grocery trade equalled that of the year before. Kesko's building and technical trade had one more delivery day in Finland and Sweden and one delivery day less in Norway than the year before. In January-May 2021, Kesko's grocery trade had one delivery day less than in the corresponding period the year before. In building and technical trade, the period had an equal number of delivery days in Finland and Sweden and two fewer delivery days in Norway than the year before. Under normal circumstances, one delivery day has an approximately 2-4% impact on Kesko's wholesale, depending on the division. The number or timing of delivery days in the car trade does not have a similar impact on sales.

Kesko publishes advance information on the retail sales of K Group's stores quarterly in connection with interim reports.

Further information is available from Hanna Jaakkola, Vice President, Investor Relations, tel. +358 105 323 540.

Kesko Corporation

DISTRIBUTION
Main news media

www.kesko.fi

https://news.cision.com/k-ryhma/r/kesko-s-comparable-sales-grew-in-may,c3366957

https://mb.cision.com/Main/13061/3366957/1431829.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 11 240 M 13 334 M 13 334 M
Net income 2021 534 M 634 M 634 M
Net Debt 2021 2 236 M 2 652 M 2 652 M
P/E ratio 2021 27,7x
Yield 2021 2,28%
Capitalization 14 377 M 17 045 M 17 056 M
EV / Sales 2021 1,48x
EV / Sales 2022 1,43x
Nbr of Employees 18 055
Free-Float 85,2%
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Mean consensus SELL
Number of Analysts 4
Last Close Price 37,31 €
Average target price 29,08 €
Spread / Average Target -22,1%
EPS Revisions
Managers and Directors
Mikko Matias Helander President & Chief Executive Officer
Jukka Henrik Erlund Chief Financial Officer & Executive Vice President
Esa Mikael Kiiskinen Chairman
Arto Hiltunen Chief Information Officer & Vice President
Jannica Charlotta Fagerholm Independent Non-Executive Director
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