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

Half Year 2023 Kesko Oyj Earnings Call Transcript

Jul 27, 2023 / 06:00AM GMT

Release Date Price: $19

Transcript

Mikko Helander

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

Ladies and gentlemen, welcome to Kesko's Second Quarter 2023 Release Call. I'm Kesko's CEO, Mikko Helander. I have, together with me, our Business Division Presidents, Jorma Rauhala, Ari Akseli and Sami Kiiski, as well as CFO, Jukka Erlund, and Investor Relations, Hanna Jaakkola.

Today's headline is strong performance on a challenging market and it describes well our second quarter overall. Now, I will first give an overview of our business performance in the first quarter -- excuse me, in the second quarter. After the presentation, we will be happy to take questions, both by phone and via chat.

Key events in the second quarter. In grocery trade, sales improved compared to earlier this year. Kespro continued to perform well. In building and technical trade, results were down due to weakened construction volumes. In car trade, sales and profit were at a record level, thanks to deliveries of cars that have been ordered earlier. During the second quarter, cost efficiency improved, thanks to

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