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 2023 Kesko Oyj Earnings Call Transcript

Apr 28, 2023 / 06:00AM GMT

Release Date Price: €19.18 (-7.86%)

Transcript

Mikko Helander

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

Ladies and gentlemen, welcome to Kesko's First 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 Matti Virtanen as well as CFO, Jukka Erlund; and Investor Relations, Hanna Jaakkola. Today's headline is a good result in a weakened economic situation.

Now, I will first give an overview of our business performance in the first quarter. After the presentation, we will be happy to take questions, both by phone and via chat.

Key events in the first quarter. The grocery trade, sales grew and performance was particularly strong in Kespro. In building and technical trade, operating profit decreased clearly from the exceptional levels of the last year. In car trade, first quarter result was a record, sales grew as availability improved. During the first quarter, Kesko acquired the technical wholesale operators Elektroskandia in Norway and Zenitec in Sweden. In March, Sami Kiiski was appointed as President of

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