Q4 2025 Kesko Oyj Earnings Call Transcript
Key Points
- Kesko Oyj (KKOYY) reported net sales growth in all divisions for 2025, indicating a strong overall performance.
- The company's comparable operating profit improved, with a notable increase in the car trade division.
- Kesko Oyj (KKOYY) gained market share in the grocery trade, with customer satisfaction and visits increasing.
- The building and technical trade division saw profit improvements, especially in Denmark, due to successful acquisitions.
- The company maintained a strong financial position with a net debt to EBITDA ratio of 1.6, well below the target of 2.5.
- The grocery trade division experienced a decline in operating profit despite gaining market share.
- The operating margin for the building and technical trade division was relatively low at 3.8%, reflecting market challenges.
- Interest-bearing net debt increased due to investments in acquisitions and store networks.
- The company faced a negative cash flow impact of approximately €100 million due to changes in payment terms under the Food Market Act.
- Consumer confidence remains a key uncertainty impacting Kesko Oyj (KKOYY)'s outlook for 2026, potentially affecting growth.
Dear all, warmly welcome virtually to Helsinki and thank you for tuning in for CESCO's full year 2025 release call.
Today's headline is Cesco's Results Improved. Net sales grew in all divisions, and it outlines 2025 well. In this presentation, we are also presenting 2026 guidance as well as dividend proposals for the annual general meeting.
Today's agenda is the following. President and CEO Jorma Rajala will give the full year and Q4 presentation.
We have here with us our business division Presidents, Ari Axelli for grocery trade, Sammi Kki for building and technical trade, and Johanna Ali for car trade, as well as CFO Anu Hamalainen.
After Jorma's presentation, we have time for questions, both by phone and via chat function.
All the materials related to Fulier and Q4 can be found at our website, CEO.fifi under Investors.
My name is Hannah Jaakkola. I am responsible for IR at CESCO. I will be at your service after the presentation for your questions and discussions. But now, Jorma,
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