Q3 2023 Kesko Oyj Earnings Call Transcript

Feb 14, 2024

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Oct 26, 2023 / 06:00AM GMT
Mikko Helander - Kesko Oyj - Chairman of the Group Management Board, President, CEO & MD

Ladies and gentlemen, welcome to Kesko's Third Quarter 2023 Release Call. I'm Kesko's CEO, Mikko Helander. I have together with me our Business Division Presidents, Jorma Rauhala, Ari Akseli and Sami Kiiski; as well as CFO, Jukka Erlund; and Investor Relations, Hanna Jaakkola.

Today's headline is a fine performance in a weak market. And it describes well our third quarter. Now I will first give an overview of our business performance in the third quarter. After the presentation, we will be happy to take questions both by phone and via chat.

Key events in third quarter. In grocery trade, sales were at a good level. In building and technical trade, profit decreased as construction volumes weakened. In car trade, sales and profit grew clearly in all car trade business segments.

In August, we announced that Kesko will acquire the Danish builders' merchant, Davidsen, and enter Denmark once the acquisition is completed. During the third quarter, cost efficiency improved, thanks to implemented

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