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

Q4 2020 Kesko Oyj Earnings Call Transcript

Feb 03, 2021 / 10:30AM GMT

Release Date Price: €21.62 (-1.82%)

Transcript

Mikko Helander

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

Ladies and gentlemen, welcome to Kesko's Full Year 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.

Kesko had a very strong year 2020. We were able to increase significantly our sales and profits. I will first give an overview of our business performance in 2020 and Q4. Thereafter, we will be happy to take questions both by phone and Viasat.

Main facts for 2020. We were able to increase significantly our profit in comparable terms by nearly EUR 120 million. The record result proves that we are able to successfully execute our growth strategy also during these exceptional times. The year 2020 is, of course, the year of COVID-19 pandemic, and it affected our businesses in different ways. The pandemic had a positive impact on the company's profit, but less than half of the profit growth was related to the pandemic. In 2020, Kesko sales grew, and profitability improved. The performance of all K

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