Kesko Oyj (OTCPK:KKOYF)

$ 20 0 (0%) Market Cap: 8.00 Bil Enterprise Value: 10.99 Bil PE Ratio: 18.06 PB Ratio: 2.84 GF Score: 85/100

Q2 2019 Kesko Oyj Earnings Call Transcript

Jul 24, 2019 / 11:00AM GMT

Release Date Price: $12.85

Transcript

Mikko Helander

Kesko Oyj - Chairman of the Group Management Board, President, CEO & MD

Ladies and gentlemen, welcome to our 2019 second quarter result call. I am Kesko's President and CEO, Mikko Helander. Together with me, I have our CFO, Jukka Erlund; and Vice President of Investor Relations, Kia Aejmelaeus. I will first give a brief overview of our business performance, and after that, we will be happy to take questions.

Our strong strategy execution increased net sales and improved profit to all-time best second quarter result. In the grocery trade, growth is still clearly outpacing the market. In the building and technical trade division, sales grew and profit increased. Acquisitions of the Fresks building and home improvement store chain in Sweden and Laakkonenâs Volkswagen, Audi and SEAT businesses were completed.

Strong strategy execution increased net sales by 2.1%. Operating profit was our all-time best second quarter result, EUR 122.5 million, and operating margin went up to 4.4%. The net finance costs for the group's continuing operations totaled EUR 23.1 million,

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