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

Kesko Oyj Annual Shareholders Meeting Transcript

Apr 12, 2021 / 10:00AM GMT

Release Date Price: €25.24 (-1.06%)

Transcript

Mikko Helander

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

Distinguished shareholders, 80 years ago, Kesko was founded in Katajanokka in Helsinki, when 4 retailer-owned regional wholesale businesses were merged. Already at its birth, Kesko was a major corporation in Finland. Kesko started its operations on January 1, 1941.

Kesko and the K Group can be considered a Finnish success story. During 80 years, Kesko has developed into a leading Nordic retailer, a retail group, which retail sales are already approximately EUR 14 billion. We operate in 8 European countries, and the K Group has 1,800 stores. We have about 1.9 million customer contacts per day.

One key element in Kesko and the K Group are the independent K retailers of whom there are 1,200. Whereas, all together, at Kesko and K Group, retailers and their personnel included, they are already 46,000 today.

Kesko is financially strong. As a company, we are practically debt-free, excluding lease liabilities.

As the Chairperson of the Board stated in his own speech, our growth

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