Kesko (KESKOB) Q3 2025 earnings summary

Executive summary

• Profit and revenue increased across all business segments in Q3 2025, with especially strong performance in car trade and international building and technical trade, despite a challenging market environment.

• Strategic actions in grocery led to improved market share and sales growth, with positive consumer demand trends.

• Construction and building services saw revenue and profit growth, supported by acquisitions, even as the market remained competitive.

• Car trade delivered significant increases in both revenue and comparable operating profit, outperforming the market in both new and used cars.

Financial highlights

• Q3 2025 revenue: €3,227.3 million (+6.6% reported, +3.5% comparable year-over-year).

• Q3 comparable operating profit: €208.1 million (Q3 2024: €201.5 million).

• Q3 earnings per share (undiluted): €0.36 (up from €0.34); reported as €0.35 in another source.

• Operating cash flow: €287.7 million in Q3; 1-9/2025: €587.1 million (1-9/2024: €707.2 million).

• 1-9/2025 revenue: €9,243.8 million (+4.1% reported, +2.0% comparable year-over-year).

Outlook and guidance

• 2025 comparable operating profit guidance narrowed to €640–690 million (previously €640–700 million).

• Operating environment expected to improve in 2026 across all segments and geographies, with grocery profit margin to remain well above 6% despite price investments.