Q3 2025 Kesko Oyj Earnings Call Transcript
Key Points
- Kesko Oyj (KKOYY) reported improved results with positive development across all business divisions.
- The grocery trade division saw an increase in market share and a rolling 12-month EBIT margin of 6.6%, indicating strong profitability.
- Car trade division experienced a clear increase in both sales and operating profit.
- Net sales grew in all three divisions, with a total increase of EUR201 million in Q3.
- Kesko Oyj (KKOYY) completed its largest ever construction project, the Onninen and K-Auto Logistics Center, on schedule and under budget.
- The building and technical trade division's results were slightly below expectations due to continued tight price competition.
- The construction cycle improvement has been slower than anticipated, impacting the building and technical trade division's performance.
- Net debt increased due to investments in store sites and acquisitions, impacting the financial position.
- The grocery trade division's comparable operating profit slightly declined by EUR1.2 million.
- Price competition in the technical trade business remains intense, affecting profit margins.
Dear all, warmly welcome virtually to Helsinki and thank you for tuning in for Kesko's Q3 2025 release call. Result improved, positive development in all divisions is our headline. We also updated our guidance and are giving some outlook regarding next year.
Our agenda today is the following. President and CEO, Jorma Rauhala will give the Q3 presentation. We have here with us our business division President, Ari Akseli for grocery trade; Sami Kiiski for building and technical trade; and Johanna Ali for car trade, as well as CFO, Anu Haemaelaeinen.
After Jorma's presentation, it is time for questions, both by phone and via chat function. All materials related to Q3 can be found at our website kesco.fy under investors.
My name is Hanna Jaakkola. I am responsible for IR at Kesko. I will be at your service after the presentation for your questions and discussions.
But now, without further ado, Jorma, the virtual stage is yours.
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