Q2 2026 Kesko Oyj Earnings Call Transcript
Key Points
- Kesko Oyj (KKOYY) reported a significant improvement in profit, driven primarily by the technical trade sector.
- Net sales grew across all divisions, with notable increases in building and technical trade, grocery trade, and car trade.
- The company gained market share in the grocery trade, with K Group stores showing strong performance.
- Kesko Oyj (KKOYY) announced a strategic acquisition of Dahl's operations in Sweden, Norway, and Denmark, which is expected to strengthen its position in the technical trade sector.
- The company's financial position improved, with cash flow from operating activities reaching EUR 362 million, supported by effective working capital management.
- Operating profit declined slightly in the grocery and car trade divisions despite sales growth.
- Kespro, a part of the grocery trade division, experienced a EUR 2.2 million decline in profit.
- The car trade division saw a decrease in operating profit due to a higher share of used car sales, which have lower margins compared to new cars.
- The Baltic countries experienced a slight decrease in profit within the technical trade division, attributed to investments in logistics centers and price pressures.
- The company's updated profit guidance for 2026 reflects a narrower range, indicating potential uncertainties in achieving higher profit margins.
Dear all, warmly welcome virtually to Helsinki and thank you for tuning in for Kesko's Q2 2026 release call. Kesko's profit improved significantly. Technical trade as the driver is our headline. This describes well the source of the profit improvement in Q2.
We have the usual agenda today. First, President and CEO Jorma Rauhala will give the presentation. After the presentation, we are happy to take questions from the virtual audience. We have here with us our business division Presidents Ari Akseli for grocery trade, Sami Kiiski for building and technical trade, and Johanna Ali for car trade, as well as CFO Anu Hämäläinen.
The questions can be posed both by phone and via chat function. All the materials related to the quarter can be found at our webpage kesko.fi under Investors.
My name is Hanna Jaakkola, responsible for IR at Kesko. I will be happy to take discussions and answer your follow-up questions after the presentation. But now, Jorma, the virtual stage is yours. Please.
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