In December 2022, Kesko Group’s sales reached a total of €968.2 million, representing a 1.8% increase in terms of comparable sales.
“December saw an increase in sales in both the grocery and automobile industries.
Within the grocery trade division, Kespro experienced particularly robust sales growth, and Christmas sales were in line with projections. Sales were generally strong across the board in the division that handles building and technical trade.
According to Mikko Helander, President and Chief Executive Officer of Kesko, “sales were up by 11.4% in the car trade division.”
The grocery trade division brought in a total of €578.7 million in sales during the month of December, representing an increase of 2.4%. The K Group’s grocery stores saw an increase of 0.5% in their sales of groceries year on year.
The home and speciality goods (non-food) department at K-Citymarket experienced a drop in sales. The increase in Kespro’s sales was 16.9%.
December sales for the building and technical trade division came in at a total of €313.9 million, representing a 1.2% drop in comparable terms expressed in local currencies.
With the exception of the trade in specialty goods, division sales were relatively unchanged year on year. The overall decline in sales in Finland was 4.7% when compared to the previous year.
The increase in sales in Sweden was 7.2%, while the increase in Norway was 7.3%. The leisure trade saw an 18% decrease in sales, which contributed to the overall decrease. The building and technical trade division’s reported sales experienced a 1.8% drop in revenue.
In December, sales in the automobile trade division amounted to a total of €78.8 million, representing an increase of 11.4%. The fact that new cars are readily available has continued to have a negative effect on the growth of sales.
When compared to the previous year, the number of new van registrations increased by 11.8%, while new passenger car registrations decreased by 5.3%.
In December, Kesko Group’s sales reached a total of €968.2 million, representing a 1.8% increase in terms of comparable sales.
Kesko Group’s sales in euros, excluding VAT, in December 2022:
| December 2022 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery trade, total | 578.7 | +2.4 | +2.4 |
| Building and technical trade, Finland | 167.2 | -6.6 | -6.6 |
| Building and technical trade, other countries | 146.7 | +4.3 | +5.6 |
| Building and technical trade, total | 313.9 | -1.8 | -1.2 |
| Car trade, total | 78.8 | +11.4 | +11.4 |
| Common functions and eliminations | -3.3 | ||
| Grand total | 968.2 | +1.6 | +1.8 |
| Finland, total | 821.4 | +1.2 | +1.2 |
| Other countries, total | 146.7 | +4.3 | +5.6 |
| Grand total | 968.2 | +1.6 | +1.8 |
Kesko Group’s sales in euros, excluding VAT, in October-December 2022:
| 1.10.-31.12.2022 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery trade, total | 1,638.8 | +4.4 | +4.4 |
| Building and technical trade, Finland | 623.1 | +3.3 | +3.3 |
| Building and technical trade, other countries | 554.9 | +3.8 | +5.8 |
| Building and technical trade, total | 1,178.0 | +3.5 | +4.4 |
| Car trade, total | 233.9 | +5.6 | +5.6 |
| Common functions and eliminations | -8.6 | ||
| Grand total | 3,042.0 | +4.1 | +4.5 |
| Finland, total | 2,487.1 | +4.2 | +4.2 |
| Other countries, total | 554.9 | +3.8 | +5.8 |
| Grand total | 3,042.0 | +4.1 | +4.5 |
Kesko Group’s sales in euros, excluding VAT, in January-December 2022:
| 1.1.-31.12.2022 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery trade, total | 6,188.3 | +4.0 | +4.0 |
| Building and technical trade, Finland | 2,672.6 | +9.4 | +10.0 |
| Building and technical trade, other countries | 2,291.0 | +9.7 | +8.5 |
| Building and technical trade, total | 4,963.6 | +9.5 | +9.3 |
| Car trade, total | 918.5 | -11.5 | -11.5 |
| Common functions and eliminations | -31.7 | ||
| Grand total | 12,038.6 | +4.7 | +4.6 |
| Finland, total | 9,747.6 | +3.6 | +3.7 |
| Other countries, total | 2,291.0 | +9.7 | +8.5 |
| Grand total | 12,038.6 | +4.7 | +4.6 |
The percentage change shows how much of a shift there was when compared to the same time period in the previous year.
The comparable change percentage was computed using the local currency and did not take into account the impact of any acquisitions or divestments that were finalised in the years 2021 or 2022.
According to the dates of completion, the acquisitions and divestments that were finalised in 2021 and 2022 have been accounted for in the sales figures reported by Kesko Group.
In 2021, the building and technical trade division successfully completed the acquisition of Byggarnas Partner and ceased operations of the Kookenka shoe store chain. Both of these events took place simultaneously. In the year 2022,
Kesko finished its acquisitions of the Swedish companies Kungalvs Travaruaktiebolaget in March, Follinge Sg AB and Djurbergs Jarnhandel Aktiebolaget in September, and XL-BYGG Bergslagen AB in October. Additionally, in June of that year, it finished its acquisition of the Norwegian company Seljord Elektriske AS.
Both Kesko’s grocery trade in Finland and the building and technical trade in Finland saw a decrease of one delivery day compared to the same time period the previous year in the month of December as well as from October through December 2022.
The number of delivery days for the building and technical trade in Sweden and Norway remained unchanged year on year for both the month of December and the period of October-December.
In the period from January to December, the number of delivery days in Kesko’s grocery trade as well as in building and technical trade in Finland and Sweden were identical to those of the previous year.
On the other hand, the number of delivery days in Norway increased by 1. In the grocery trade, wholesale deliveries take place on Saturdays,
but not in the construction or technical supply industries. Under typical conditions, one delivery day has an impact of approximately 2%–4% on Kesko’s wholesale, with the exact percentage varying from division to division.
When it comes to the automobile industry, the number of delivery days or their timing does not have the same effect on sales.
Statistics on the automobile trade market compiled by the Finnish Information Centre of the Automobile Industry.
In conjunction with the publication of interim reports on a quarterly basis, Kesko provides a sneak peek into the quarterly retail sales of K Group stores.
Further information is available from Hanna Jaakkola, Vice President, Investor Relations, tel. +358 105 323 540, and Eva Kaukinen, Vice President, Group Controller, tel. +358 105 322 338.
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