Kesko Oyj (STU:KEK)

€ 19.215 0.06 (0.31%) Market Cap: 7.57 Bil Enterprise Value: 10.44 Bil PE Ratio: 18.31 PB Ratio: 2.88 GF Score: 84/100

Q2 2020 Kesko Oyj Earnings Call Transcript

Jul 23, 2020 / 09:30AM GMT

Release Date Price: €17.22 (+1.83%)

Transcript

Mikko Helander

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

Ladies and gentlemen, welcome to our second quarter 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, record result for second quarter. Profitability improved thanks to fast response to exceptional circumstances and well-functioning strategy.

I will first give an overview of our business performance in second quarter. And thereafter, we will be happy to take questions, both by phone and via chat.

Key events in second quarter. First of all, record results and very strong cash. Grocery trade sales grew and profitability improved further. Also, demand continued to be strong in building and technical trade. Good development continued in K-rauta and Onninen in Finland, and there was a significant profit improvement in building and home improvement trade in Sweden.

In July, we announced the acquisition of Carlsen FritzÃ¸e Handel, which is a leading building

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