Kesko's Q2 Profit Rises on Strong Technical Trade Performance
Kesko reported increased net sales across all divisions in the second quarter, with profit significantly improving, driven by a strong performance in its technical trade segment.
Kesko Oyj's net sales grew by 4.2% to €3.38 billion in the second quarter of 2026. The company’s comparable operating profit rose to €194 million, an increase of €17.3 million year-on-year. This improvement was largely attributed to the building and technical trade division, which saw particularly strong sales and profit performance in its technical trade segment.
The grocery trade division reported net sales of €1.62 billion, with a comparable operating profit of €110.6 million. Despite a slight decrease in profit, Kesko's grocery sales increased by 4.3%, outpacing the market's estimated 2% growth. All K-Group grocery chains gained market share, with K-Supermarket showing the strongest gains. The building and technical trade division's net sales jumped 14.3% to €1.41 billion, and its comparable operating profit increased to €71.2 million, boosted significantly by technical trade.
The car trade division's net sales were €353 million, flat compared to the previous year, while its comparable operating profit decreased to €18.4 million. However, the order book for new cars has grown substantially, setting the stage for sales in the latter half of the year. Sports trade sales and profits remained steady.
Kesko also announced its largest acquisition to date in June: the purchase of Dahl's businesses in Sweden, Norway, and Denmark from Saint-Gobain for €1.2 billion. This move is expected to significantly strengthen Kesko's technical trade operations in the stable Nordic markets. The transaction is anticipated to finalize by early 2027. The company has updated its profit guidance for 2026, now expecting comparable operating profit to be between €670–€730 million.