Kesko Oyj Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 29, 2024
Share
Kesko Oyj reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was EUR 2,902 million compared to EUR 2,983.4 million a year ago. Net income was EUR 112.9 million compared to EUR 141.6 million a year ago. Basic earnings per share from continuing operations was EUR 0.28 compared to EUR 0.36 a year ago. Diluted earnings per share from continuing operations was EUR 0.28 compared to EUR 0.36 a year ago.
For the full year, sales was EUR 11,783.8 million compared to EUR 11,809 million a year ago. Net income was EUR 495.6 million compared to EUR 609.9 million a year ago. Basic earnings per share from continuing operations was EUR 1.25 compared to EUR 1.53 a year ago. Diluted earnings per share from continuing operations was EUR 1.25 compared to EUR 1.53 a year ago.
Kesko Oyj is the leading wholesaler and retailer in Finland. Net sales break down by family of products as follows:
- grocery and convenience goods (53.8%; K-retailer; No. 2 in Finland): owned 1,208 supermarkets and stores under the names K-citymarket, K-supermarket, K-Market, Neste K., etc.;
- building, home improvement, DIY and gardening products (35.6%): building materials, interior design materials, gardening products, household appliances, furniture, etc. distributed via 483 outlets primarily under the Onninen, K-rauta, K-Bygg, Byggmakker, Byggarnas Partner and Carlsen Fritzøe brands;
- automotive (10.6%; K-Auto): cars (Volkswagen, Audi, Seat, CUPRA, Porsche, Bentley and MAN brands), spare parts and original accessories marketed through 49 outlets in Finland. The group also offers leisure and sports goods (owned 62 stores under the Intersport and Budget Sport names).
Net sales are distributed geographically as follows: Finland (82.4%), Nordic countries (13.7%), Baltic countries (1.1%) and other (2.8%).
KESKO OYJ 
