Kesko reports increased sales and profit for the first quarter
Retailer Kesko Oyj's net sales grew by 7.1% to €3.03 billion in January-March. Comparable operating profit increased to €102 million.
Retail conglomerate Kesko Oyj has reported strong first-quarter results, with net sales rising 7.1% to €3.03 billion and comparable operating profit reaching €102 million.
The growth was observed across all three of Kesko's business segments: grocery trade, building and technical trade, and car trade. The grocery division saw sales of €1.56 billion and a comparable operating profit of €78.4 million. Kesko anticipates continued competition in grocery retail but expects its comparable operating profit margin to remain well above 6%.
Improvements were also noted in the building and technical trade, and car trade divisions, despite challenging market conditions. The company anticipates growth in its car trade segment for 2026, even though new car sales are expected to remain subdued compared to historical averages.
Kesko has updated its profit guidance for 2026, now expecting comparable operating profit to be in the range of €650–€750 million. However, the company acknowledged potential risks from the ongoing geopolitical situation, which could impact consumer confidence, corporate investment, and costs.