Growth strategy continues across all divisions, focusing on market share gains, operational excellence, and omnichannel customer experience in all eight operating countries and business areas.
Investments remain high, with €200–€250 million annually in grocery store network, major investments in logistics and digitalization, and significant acquisitions, especially in Sweden and Denmark.
Updated sustainability strategy is integrated into business and bonus systems, targeting value chain-wide CO2 reductions and emphasizing climate, people, and governance.
Digitalization and AI adoption are prioritized, with over 200 Copilot agents created to enhance daily operations.
Consumer confidence remains low but shows early signs of improvement, with increased food spending and gradual improvement in the Finnish operating environment.
Net sales reached €12,084m (Q2/2025 rolling 12 months), with 2023 EBIT at €712 million and rolling 12-month EBIT at €645 million by June 2024; gross margin stable at 14.6%.
Return on capital employed stands at 10.7%, with a target of over 14.5% achievable upon market recovery.
Net debt to EBITDA is 1.8, well below the 2.5 target, providing financial flexibility for future investments.
Dividend policy remains at 60–100% of comparable EPS, with 81% distributed in 2024 and a history of steady growth.
Operating cash flow rolling 12 months is close to €900 million, with strong cash flow from operating activities at €1,152m, supported by disciplined capital expenditure.
Grocery trade targets market share gains, profitability above 6%, and ongoing investments in store network and price competitiveness.
Building and technical trade is the main growth driver, maintaining profitability despite weak construction markets, with a long-term EBIT margin target of 6–8% and ongoing integration of acquisitions.
Car trade outperforms the market in new and used car sales, with strong growth in services and EV charging.
Kespro leads Finnish foodservice with a 49.1% market share and 75% of sales via digital channels.
Operational excellence, process improvement, and quality leadership are emphasized to drive competitive advantage.
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Kesko Corporation is a retail conglomerate established in 1940 and based in Helsinki, Finland. The company operates in a variety of sectors within the retail industry such as groceries & consumer goods, building materials, and automotive services. Over the decades the company has expanded its reach, not just within Finland but also by making inroads into several neighboring markets. Kesko is a diversified company, and its operations encompass both wholesale and retail activities.
Kesko was established in 1940 in Helsinki as a cooperative endeavor by a consortium of independent retailers. The cooperative model was adopted to bolster buying power and ensure competitive retail prices, benefiting both members and consumers. As the years passed, Kesko's commitment to this collective approach not only solidified its place in the Finnish retail sector but also facilitated its expansion into diverse product and service categories. While Kesko is a company firmly rooted in Finland both businesswise and culturally, the company now has a presence in several countries across northern Europe.
The grocery business is a key segment of Kesko's diversified portfolio, and the company has a significant share of the market in Finland. Operating under various banners such as K-Citymarket, K-Supermarket, and K-Market, Kesko has stores in everything from metropolitan hubs as well as in more rural areas. The grocery division thrives on a distinctive model that combines the power of centralized buying and supply chain management with the flexibility and local insight of independent K-retailers. These retailers, while benefiting from the collective strength of the Kesko group, maintain autonomy over their outlets, tailoring offerings to the specific demand and preferences of their local clientele.
As previously mentioned, Kesko operates other retail segments apart from just their grocery stores. The company has a strong foothold in the building, home improvement, and technical trade sectors, offering tools, machinery, construction materials, and even B2B services. Brands like K-Rauta cater to both individual consumers and professional builders alike and can be compared to the offerings of international companies such as Home Depot and Lowes. Kesko’s car trade division deals with the import, retail, and after-sales services of various automobile brands, including names such as Volkswagen and Audi, as well as several other well-known automotive brands. The company has an array of car dealerships, and the segment offers new and used cars, as well as associated services.
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