Kesko Oyj (STU:KEK)

€ 19.215 0.06 (0.31%) Market Cap: 7.61 Bil Enterprise Value: 10.48 Bil PE Ratio: 18.31 PB Ratio: 2.88 GF Score: 84/100

Q1 2020 Kesko Oyj Earnings Call Transcript

Apr 28, 2020 / 09:00AM GMT

Release Date Price: €15.06 (+2.38%)

Transcript

Mikko Helander

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

Ladies and gentlemen, welcome to our Q1 2020 release call. I'm Kesko's CEO, Mikko Helander. Together with me, I have our CFO, Jukka Erlund; and Vice President, Investor Relations, Hanna Jaakkola.

We published again a record result for first quarter. The impact of COVID-19, coronavirus epidemic was seen from mid-March and onwards. I will first give a brief overview of our business performance in first quarter, and thereafter, I will go through the impact of the corona epidemic to Kesko and K Group. After the presentation, we will be happy to take questions, both by phone and via chat.

Key events in the first quarter. Market shares have strengthened further. The market shares of K-food stores, K-rauta and Onninen are growing. Grocery sales in K-food stores grew by 7.8%. Also, online grocery sales grew significantly. At their highest, our online grocery sales have grown at a pace of over 800% a week.

In technical trade, I would like to highlight the performance of Onninen, strong net sales

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