Kesko Oyj: All Divisions Report Strong Q1 Performance
Kesko Oyj reported strong first-quarter 2026 results, with net sales growing 4.6% and comparable operating profit improving. All three divisions showed positive development amid challenging market conditions.
Kesko Oyj announced robust financial results for the first quarter of 2026, indicating growth across all its business divisions: grocery trade, building and technical trade, and car trade. The company reported positive developments in both net sales and profitability despite facing challenging market conditions.
The group's comparable net sales increased by 4.6% year-on-year, reaching €3.03 billion. The comparable operating profit rose by €6.5 million to €102 million. Operating cash flow saw a significant improvement, attributed to effective working capital management.
In the grocery trade division, Kesko reported growth in net sales, profit, and market share for the first time since the pandemic. Net sales grew by 4.4%, outpacing the total market growth of 2.9%. The building and technical trade division also experienced growth, although comparable operating profit for K-Rauta saw a slight decrease. The car trade division's net sales increased, driven particularly by used car sales, with the company gaining market share in both new and used vehicles.
Kesko reiterated its profit guidance for the full year 2026, projecting a comparable operating profit between €650 million and €750 million. The company anticipates an improvement in the operating environment, net sales, and profit across all divisions and operating countries throughout 2026.