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    KESKOB   FI0009000202

KESKO OYJ

(KESKOB)
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Kesko Oyj : comparable sales grew in April

05/17/2021 | 01:01am EDT

Kesko Group's sales totalled €969.1 million in April 2021, representing an increase of 11.7% in comparable terms on the previous year.

"Kesko's sales grew by 11.7% in comparable terms in April. Sales for the grocery trade division were flat year-on-year, with wholesale sales for Easter taking place in March. Strong sales growth continued in the building and technical trade division both in Finland and elsewhere. In comparable terms, the division's sales grew by 20.6%. In the car trade division, sales were up by 62.4%," says Kesko's President and CEO Mikko Helander.

Sales in the grocery trade division totalled E473.2 million in April, flat compared to the year before. Grocery sales to K-food stores decreased by 6.9%. Wholesale sales were impacted by the timing of Easter. Sales increased markedly in K-Citymarket's home and speciality goods trade. Kespro's sales grew by 48.5%.

Sales in the building and technical trade division totalled E402.1 million in April, an increase of 20.6% in comparable terms in local currencies. Sales in the building and technical trade excluding speciality goods trade grew by 17.1% in comparable terms. Sales in Finland grew by 14.4% and sales elsewhere by 20.9%. In the speciality goods trade, sales in leisure trade increased by 127.0%. Reported sales in the building and technical trade increased by 8.6%.Sales in the car trade division totalled E96.0 million in April, an increase of 62.4%.

Kesko Group's sales in April totalled E969.1 million, representing an increase of 11.7% in comparable terms.

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

April 2021 Comparable
E million Change, % change, %
Grocery trade, total 473.2 -0.2 -0.2
Building and technical trade, Finland 221.5 +20.0 +20.3
Building and technical trade, other countries 180.6 -2.7 +20.9
Building and technical trade, total 402.1 +8.6 +20.6
Car trade, total 96.0 +62.4 +62.4
Common functions and eliminations -2.2
Grand total 969.1 +7.4 +11.7
Finland, total 788.5 +10.1 +10.2
Other countries, total 180.6 -2.7 +20.9
Grand total 969.1 +7.4 +11.7

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

1.1.-30.4.2021 Comparable
E million Change, % change, %
Grocery trade, total 1,843.0 +1.9 +1.9
Building and technical trade, Finland 757.3 +10.7 +10.5
Building and technical trade, other countries 602.4 -15.5 +13.2
Building and technical trade, total 1,359.7 -2.7 +11.6
Car trade, total 360.5 +26.1 +26.1
Common functions and eliminations -7.7
Grand total 3,555.4 +2.0 +7.4
Finland, total 2,952.9 +6.5 +6.5
Other countries, total 602.4 -15.5 +13.2
Grand total 3,555.4 +2.0 +7.4

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 April 2021, the number of delivery days equalled that of last year in both Kesko's grocery trade and building and technical trade in Finland. Sweden and Norway. In January-April, both Kesko's grocery trade and building and technical trade in Finland, Sweden and Norway had one delivery day less 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

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www.kesko.fi

https://news.cision.com/k-ryhma/r/kesko-s-comparable-sales-grew-in-april,c3347593

https://mb.cision.com/Main/13061/3347593/1417920.pdf

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

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Financials
Sales 2021 10 984 M 13 048 M 13 048 M
Net income 2021 506 M 601 M 601 M
Net Debt 2021 2 280 M 2 708 M 2 708 M
P/E ratio 2021 25,1x
Yield 2021 2,67%
Capitalization 11 889 M 14 095 M 14 123 M
EV / Sales 2021 1,29x
EV / Sales 2022 1,25x
Nbr of Employees 17 120
Free-Float 85,2%
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Mean consensus SELL
Number of Analysts 4
Average target price 26,10 €
Last Close Price 30,92 €
Spread / Highest target 0,26%
Spread / Average Target -15,6%
Spread / Lowest Target -27,6%
EPS Revisions
Managers and Directors
NameTitle
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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