PresentationCFO Jukka Erlund
Q1/2015
Kesko today
3/2015Jukka Erlund2
Net sales 2014€9,071m
Food trade
Home and speciality goods trade
Building and home improvement trade
Car and machinery trade
• Kesko’s net sales €9.1bn
- K-Group’s sales €11.3bn
• 2,000 stores in eight
countries
• Over one million customer
visits every day
• Book value of real estate
€1.4bn
• Market capitalisation €3.5bn
(Feb. 28, 2015)
• 40,000 shareholders
• 24,000 employees
• Combination of the building and home
improvement trade with the home and
speciality goods trade
• Integration of the non-food part of the K-
citymarket chain into Kesko Food
• Focus is on e-commerce and online services
• The objective is to improve efficiency and to
have a more competitive multi-channel non-
food trade
Kesko changed its divisional structure
3/2015Jukka Erlund3
Net sales 2014€9,071m
Grocery trade
Home improvement andspeciality goods trade
Car and machinery trade
4
FINLAND82%
RUSSIA4%
ESTONIA1%
LATVIA1%
BELARUS1%
SWEDEN2%
NORWAY5%
K-group has 2,000 storesin eight countries
LITHUANIA4%
Percentage of Kesko’s net salesJukka Erlund
Total about 56m consumers
Grocery trade
• Finland, Russia
Home improvement and
speciality goods trade
• Finland, Sweden, Norway,
Baltic countries, Russia,
Belarus
Car and machinery trade
• Finland, Baltic countries
3/2015
Business models
3/2015Jukka Erlund5
Suppliersand service
providers
Retailer
entrepreneurs’
retail trade, 51%
Kesko’s own
retail trade,
27%
B2B sales,
22%
Consumers
• Store concepts and business models
• Sourcing, logistics and marketing services
• Store chainmanagement
• Store sites• Retailer resources• Support processes
Strategic priorities
Jukka Erlund6
Strengthening
sales growth and
improving
profitability
E-commerce and
multi-channel service
models
Utilising Russia’s
business
opportunities
Strong financial position and good dividend payment capacity
3/2015
Focus on profitability in DIY and Home and speciality goods
3/2015Jukka Erlund7
-100
0
100
200
300
400
2007 2008 2009 2010 2011 2012 2013 2014
Operating profit excl. non-recurring items
Common operations and eliminations Car and machinery trade
Building and home improvement trade Home and speciality goods trade
Food trade
€m
Expansion of Kesko’s business operations in Russia
3/2015Jukka Erlund8
• Kesko has 13 K-rauta stores in Russia and net sales
total €250 million
• Kesko has 6 K-ruoka stores in St. Petersburg and net
sales total some €100 million
• In 2015, two more new K-ruoka stores will be opened
• Launch of business operations has been as expected
• Kesko has 19 stores and net sales total €15 million
• Changes in the business model, concept and network of
Intersport Russia to improve profitability
Russian retail growth has exceededGDP growth
3/2015Jukka Erlund9
-10
-5
0
5
10
15
20
2000 2002 2004 2006 2008 2010 2012 2014
Retail GDP
Source: Rosstat, y-o-y real change
%
Net sales
3/2015Jukka Erlund10
0
2000
4000
6000
8000
10000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Finland Other countries
+5.8%
+11.1%
+9.3% +3.3%
-11.9%+3.9%
+7.8%+2.4%
-3.8%
€m
-2.6%
-100
0
100
200
300
400
500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Operating profit excl. non-recurring items Non-recurring items
Operating profit
3/2015Jukka Erlund11
€m
Significant strengthening of cash flow
3/2015Jukka Erlund12
-500
-400
-300
-200
-100
0
100
200
300
400
500
2008 2009 2010 2011 2012 2013 2014
Cash flow fromoperatingactivities
Cash flow frominvestingactivities
€304m
€-182m
€m
Capital expenditures have been adjustedto a lower level
3/2015Jukka Erlund13
0
50
100
150
200
250
300
350
400
450
500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Capital expenditure in store sites Acquisitions Other capital expenditure
€m
3/2015Jukka Erlund14
Strong financial position
Liquid assets €598m €681m
Interest bearing net debt €-99m €-126m
Equity ratio 54.5% 54.5%
Gearing -4.4% -5.4%
2014 2013
3/2015Jukka Erlund15
Earnings / share and dividend
2009 2010 2011 2012 2013 2014
2.0
1.5
1.0
0.5
0.0
1.50
1.65
1.40
1.68
1.20
1.47
1.20
1.84
1.30
1.78
0.90
0.71
Dividend (2014 Board’s proposal to the AGM)
Earnings / share excl. non-recurring items % Effective dividend yield
3.9% 3.7% 4.6% 4.8% 5.2% 5.0%€
Financial targets
3/2015Jukka Erlund16
The objectives Target level Realised 2014
Net sales growth Growth rate exceeding that of the market
Realised**: Building and home improvementtrade in Finland, Estonia and Russia, cartrade and agricultural trade in Finland
Return on equity* 12% 7.6%
Return on capital employed*
14% 9.9%
Interest-bearing net debt/EBITDA
< 3 -0.3
Equity ratio 40–50% 54.5%
*Excluding non-recurring items
**Kesko’s own estimate
Dividend policy: Kesko Corporation distributes at least 50% of its earnings
per share excluding non-recurring items as dividends, taking however the
company's financial position and operating strategy into account.
Jukka Erlund17
Future outlookUpdated March 16 2015
• Estimates of the future outlook for Kesko Group's net sales and operating profit excluding non-recurring items are given for the 12 months following the reporting period (1/2015-12/2015) in comparison with the 12 months preceding the reporting period (1/2014-12/2014).
• The general economic situation and the expected trend in consumer demand vary in Kesko’s different operating countries. In Finland, demand in the trading sector is expected to be weak also in the current year and the competitive situation is expected to tighten further, especially in the grocery trade and the home and speciality goods trade. In Sweden and Norway and in the Baltic countries, the growth in demand in the trading sector is expected to continue. In Russia, the economic situation and consumers’ purchasing power will weaken.
• Kesko's net sales for 2015 are expected to be lower than the net sales for 2014 and the operating profit excluding non-recurring items for 2015 is expected to exceed the operating profit excluding non-recurring items for 2014.
3/2015
Divisions
3/2015Jukka Erlund19
Grocery trade
•Net sales €4,754 million, -2.2%
•Operating profit* €223.2 million (4.7%),
€-7.6 million
•Return on capital employed* 22.2%
*excl. non-recurring items
Total 912 stores
2014 K-Group 33.1%
S-Group 45.7%
Lidl 7.6%
Suomen Lähikauppa 6.8%
Others 6.8%
33.1%
Total market €16.7 billion
Source: Nielsen
K-food stores’ focusareas
Superior fresh food departments
Pirkka and K-Menu private labels
(share of sales some 20%)
Developments in e-commerce,
personalised marketing and pricing
Pirkka – a true brand
By far the most valued and best-known store
private label in Finland
Launched in 1986
Pirkka range comprises more than 2,300 products
More than 100 of Pirkka products are organic
and almost 50 are Fairtrade products
Introducing a new PL, K-Menu
Target is to have more than 300 products
by the end of 2015
3/201521 Jukka Erlund
Russian business operations started
in St. Petersburg in December 2012
At the end of 2014, a total of five stores and net sales of €103 million
Target is to open three new stores
during 2015
Net sales target of the food trade €500
million and positive result in 2017
The basic concept is a large, better
than the average food store – ”Best in Fresh”, with a selection of home and
speciality goods for everyday needs
Kesko in Russia
Russian food market
Market size some €247 billion
Share of all retailing some 50%
Operative EBITDA of peers 6-12%
RetailerRevenues ’14,
€ bn
Magnit 13.8
X5 11.6
Auchan 6.5
Dixy 4.1
O’key 3.1
Metro 2.3
Lenta 1.9
Source: PMR
Home improvement and speciality goodstrade
3/2015Jukka Erlund24
Total 568 stores
•Net sales €3,324 million, -3.4%
•Operating profit* €-0.3 million (0.0%), €+9.8 million
•Return on capital employed* 0.0%
*excl. non-recurring items
2014 (numbers include Anttila)
25 Jukka Erlund
Strategic focus areas
’K-rauta makes it happen with you’
Common selections, own brands and reduced
inventories
Increasing B2B sales
Strong development of online services
Cost efficiency and inventory programs
Nordic retailer business model
Maintaining Intersport Finland’s and Asko’s and Sotka’s
strong brands, market positions and profitability
3/2015
Building and home improvement trade
3/2015Jukka Erlund26
Net sales by country in 2014
Finland, €1,157 m
Sweden, €194 m
Norway, €431 m
Estonia, €78 m
Latvia, €53 m
Lithuania, €312 m
Russia, €250 m
Belarus, €125 m
0 10 20 30 40
Belarus
N-w and…
Lithuania
Latvia
Estonia
Norway
Sweden
Finland
N-w and central
Russia
Market shares in 2014
13.10 13.04
5.434.27
3.36 3.152.26
0
2
4
6
8
10
12
14
Jukka Erlund27
The biggest DIY-enterprisesin Europe 2013
Sources: Companies’ annual reports, companies’ webpages, Baumarktmanager
NET SALES € BN
3/2015
Russian DIY market
Retail chains share of DIY sales about
50%Share of modern retail on the increase
K-rauta is the second largest operator in
St. Petersburg Targeting a network of some 10 stores
The focus of the expansion will be
Moscow and cities nearby Moscow
Net sales target of €500 million in 2017
3/2015Jukka Erlund28
Car and machinery trade
3/2015Jukka Erlund29
•Net sales €1,011 million, -2.5%
•Operating profit* €29.6 million (2.9%),
€-4.3 million
•Return on capital employed* 18.3%
*excl. non-recurring items
2014
Volkswagen 11.6%
Toyota 9.8%
Skoda 9.7%
Volvo 8.2%
Ford 7.4%
Nissan 7.0%
BMW 6.3%
Audi 6.1%
Seat 1.6%
Others 32.3%
19.3%
Source: TraFi
Market share (passenger cars),
new registrations 1-2/2015
Kesko
as an investment
3/201530 Jukka Erlund
Basic information
3/2015Jukka Erlund31
• Established in 1940
• Listed on the Helsinki Stock Exchange (Nasdaq Helsinki) in 1960
• Employees 24,000, of whom 51% work in Finland and 49% outside Finland
• 40,000 shareholders
– 27% of all shares owned by non-Finnish
– 39% of B-shares owned by non-Finnish
• Market capitalisation €2.9 billion (Dec. 31, 2014)
• Share series: A and B – voting rights 10:1
Number of shares
A shares31.7%
B shares68.3%
Voting rights
B shares
18%A shares
82%
Shareholders
3/2015Jukka Erlund32
Ownership by shareholder category
At 2/2015
The largest registered shareholders
At 2/2015 by number of shares%
Non-financial corporations and housingcorporations 26%Financial and insurance corporations 9%
General Government 6%
Households 27%
Rest of the world 26%
Others 6%
1 K-retailers´ Association 3,750,635 3.75
2 Vähittäiskaupan Takaus Oy 3,491,771 3.49
3 Kruunuvuoren Satama Oy 3,438,885 3.44
4 Ilmarinen Mutual Pension Insurance Company
2,086,499 2.09
5 Valluga-sijoitus Oy 1,340,439 1.34
6 Elo Pension Company 1,192,968 1.19
7 Varma Mutual Pension Insurance Company
1,130,986 1.13
8 Foundation for Vocational Training in the Retail Trade
1,069,506 1.07
9 Oy The English Tearoom Ab 1,000,000 1.00
10 Kesko Oyj 995,315 1.00
Real estate in 2014
3/2015Jukka Erlund33
Owned properties
CountryArea,
1,000 m2
Finland 770
Other Nordic countries 117
Baltic countries and Belarus 113
Russia 164
Total
Carrying amount
1,164
€1,430 M
Leased properties total1,000 m2 2,958
Owned properties by region
Finland 69%
Other Nordiccountries 6%
Baltic countriesand Belarus 3%
Russia 22%
Owned properties by division
Grocery 61%
Home improvementand speciality goods30%Car and machinery5%
Others 4%
Reclassification of store sites
3/2015Jukka Erlund34
Old classification
Strategic properties 77%
Standard properties 19%
Development properties 4%
New classification
Strategic properties 53%
Standard properties 43%
Development properties 4%
Realisation properties 0%
Key criteria for
strategic properties
• Catchment area
with over 100,000
inhabitants
• Store area over
2,000 m2
• Useful life over 10
years
• Development
possibilities
Kesko continues the preparation of a real estate arrangement
3/2015Jukka Erlund35
• The intention is to sell some of the store sites it owns to a joint venture to be set up instead of a real estate investment trust planned earlier. The arrangement is expected to be implemented during the first part of 2015.
• Kesko's objective is to set up a limited liability company (joint venture) to own and manage mainly Kesko-owned store sites and shopping centres with Kesko as one of its significant investors. If the joint venture is set up, Kesko Group would continue operating on the store sites under long-term leases signed in connection with their sale.
• The fair value of store sites planned to be sold to the joint venture from Finland and Sweden has been specified at a maximum of around €670 million.
• Investors and finance providers have shown interest in the joint venture. Launching the joint venture depends, in addition to investor interest, on whether it is possible for Kesko to achieve such terms and conditions in the arrangement that are economically justifiable for it, taking the Group's strong financial position into account.
• If implemented, the sale of store sites is estimated to generate a significant non-recurring profit, the amount of which will be specified as the examination progresses.
Responsibility
Kesko is the most responsible food and staples retailer in the world
3/2015Jukka Erlund37
• In ’The Global 100 Most Sustainable Corporations in the World’ list since 2005.
• In the Sustainability Yearbook 2015, Kesko was classified into the bronze class
in the Food & Drug Retailers sector.
• Included in the Dow Jones sustainability indexes DJSI World and DJSI Europe
since 2003.
• Included in the FTSE4Good index focusing on responsible investment since
2009.
• At the top of the Nordic Carbon Disclosure Leadership climate index in 2011-
2014.
• 2011-2013 World Finance Award for Best Corporate Governance in Finland
Responsibility is an integral part of Kesko’sstrategy and key business operations
3/2015Jukka Erlund38
• Kesko’s updated responsibility programme includes objectives for
- responsible purchasing and sales
– sustainable choices and services for customers
– welfare in the workplace
– mitigation of climate change
– sustainable use of natural resources
– stakeholder inclusion.
• Statements and policies supporting the work of buyers and stores
include:
- Palm oil policy
- Stand on sandblasting of jeans
- Fish and shellfish statement
- Timber policy
• In supplier assessment for high-risk countries, Kesko uses
international auditing systems, BSCI auditing and SA8000
certification.
Additional material
Main events in 2014• Kesko’s profitability remained at a good level despite the difficult
market situation
• In the food trade, profitability remained good and pricecompetitiveness was strengthened
• In the building and home improvement trade, profit more than doubledand market share continued to strengthen
• In the home and speciality goods trade, excluding Anttila, performance in a difficult market situation was good
• In the car trade, profitability remained good and Audi and Volkswagen were again market leaders
• Kesko’s financial position is very strong, €600 in liquid assets and netdebt-free balance sheet
• Kesko was assessed as the fifth most sustainable company in the world
Jukka Erlund40 3/2015
41 Jukka Erlund
Profit for 1-12/2014
1-12/2014 1-12/2013
Net sales, €m 9,071 9,315
Fixed costs excl. non-recurring items, €m -1,742 -1,768
Operating profit excl. non-recurring items, €m
233 239
Non-recurring items, €m -81 10
Net financial items, €m -6 -6
Income tax, €m -37 -58
Net profit for the period, €m 108 185
Net profit for the period excl. non-recurring items, €m
176 178
3/2015
Net sales
3/2015Jukka Erlund42
4,316(47%)
1,316(14%)
2,598(28%)
1,011(11%)
Food tradeBuilding and home
improvement
trade
Home and specialitygoods trade
Car and machinerytrade
Net sales by quarter
3/2015Jukka Erlund43
2,159
2,420 2,374 2,3622,129
2,371 2,304 2,267
0
500
1000
1500
2000
2500
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014
€m
-6.9%
-1.6% -3.1% -3.9%
-1.4%
-2.1% -2.9% -4.0%
Operating profit excl. non-recurring items by quarter
3/2015Jukka Erlund44
18.6
69.8
83.6
66.8
19.1
67.6
84.0
61.9
0
20
40
60
80
100
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014
€m
Jukka Erlund45
Financial position
1-12/2014 1-12/2013
Equity ratio, % 54.5 54.5
Liquid assets, €m 598 681
Capital expenditure, €m 194 171
Interest-bearing net liabilities, €m -99 -126
Inventories, €m 776 797
Return on capital employed, %* 9.9 9.8
* excl. non-recurring items
3/2015
Food trade
46 Jukka Erlund 3/2015
Food trade
3/2015Jukka Erlund47
5,000
4,000
3,000
2,000
1,000
0
-1.6%
-2.5%
2014
4,316
2013
4,387
Q4/2014
1,119
Q4/2013
1,148
0
50
100
150
200
250
2014
202.4
2013
203.3
Q4/2014
46.7
Q4/2013
48.3
Net sales Operating profit excl. non-recurring items
€m €m
3/201548 Jukka Erlund
• Decline in consumers’ purchasing
power slightly reduced the net sales of
the food trade
• K-food stores lowered the prices of
several hundreds of products
• New affordable K-Menu product family
was launched
• Kespro’s market position and
profitability remained at a good level
• In Russia, sales and profitability
developed according to plan
Food trade
Home and speciality
goods trade
49 Jukka Erlund 3/2015
Home and speciality goods trade
3/2015Jukka Erlund50
393439
1,500
1,000
500
0
-9.6%
-10.4%
2014
1,316
2013
1,457
Q4/2014Q4/2013
-40
-30
-20
-10
0
10
20
30
2014
-37.4
2013
-8.3
Q4/2014
11.0
Q4/2013
21.6
Net sales Operating profit excl. non-recurring items
€m €m
51 Jukka Erlund
• Profits of K-citymarket, Intersport Finland, Budget Sport, Asko and Sotka remained at a good level
• Anttila’s profit was clearly negative. New measures are planned to stop Anttila’sprolonged loss-making
- Anttila accounts for less than 4% of Kesko’s net sales
• Investments in e-commerce werecontinued in all chains
Home and specialitygoods trade
3/2015
Building and home
improvement trade
52 Jukka Erlund 3/2015
Building and home improvement trade
3/2015Jukka Erlund53
585596
3,000
2,500
2,000
1,500
1,000
500
0
-0.4%
-1.9%
2014
2,598
2013
2,607
Q4/2014Q4/2013
-10
0
10
20
30
40
50
60 57.7
2013
25.7
Q4/2014
11.9
Q4/2013
-1.1
2014
Net sales Operating profit excl. non-recurring items
€m €m
54 Jukka Erlund
• Operating profit of the building and home improvement trade more thandoubled
• Operating profit strengthenedsignificantly in all foreign operations
• Net sales were at the previous year’slevel, up 3.6% in local currencies
• Market share increased especially in Finland and the Baltics
• Kesko is the fifth largest DIY tradeoperator in Europe
Building and home
improvement trade
3/2015
Car and machinery
trade
55 Jukka Erlund 3/2015
3/2015Jukka Erlund56
216226
1,200
1,000
800
600
400
200
0
-2.5%
-4.7%
2014
1,011
2013
1,037
Q4/2014Q4/2013
0
10
20
30
40
2014
29.6
2013
33.9
Q4/2014
1.8
Q4/2013
3.3
Net sales Operating profit excl. non-recurring items
€m €m
Car and machinery trade
57 Jukka Erlund
• In the car trade, profitability remained at
a good level
• Net sales of the car trade increased
by1.5%
• Volkswagen continued as the market
leader in passenger cars and vans
• Audi was number one in its class with
an all-time high market share
• Car trade market share increased and
was 20.7%
• Konekesko’s net sales decreased by
12.6%; market demand was weak
especially in agricultural machinery
Car and machinery
trade
3/2015
Market situationand outlook
58 Jukka Erlund 3/2015
3/2015Jukka Erlund59
Consumer confidence in Finlandexpectations for own finances in 12 months
0
2
4
6
8
10
12
14
16
1/0
0
7/0
0
1/0
1
7/0
1
1/0
2
7/0
2
1/0
3
7/0
3
1/0
4
7/0
4
1/0
5
7/0
5
1/0
6
7/0
6
1/0
7
7/0
7
1/0
8
7/0
8
1/0
9
7/0
9
1/1
0
7/1
0
1/1
1
7/1
1
1/1
2
7/1
2
1/1
3
7/1
3
1/1
4
7/1
4
1/1
5
Expectations for own finances
Expectation, 21st centuryaverage
Source: Statistics Finland
Weak retail trade performance in Finland(excl. motor vehicles and fuel)
3/2015Jukka Erlund60
Source: Eurostat
%
-2,0
-1,0
0,0
1,0
2,0
3,0
4,0
5,0
6,0
7,0
8,0
9,0
01/2013 04/2013 07/2013 10/2013 01/2014 04/2014 07/2014 10/2014
Estonia
Lithuania
Latvia
Norway
Sweden
Finland
Key management focus areas
Jukka Erlund61
• Kesko’s strategy work is underway. Kesko will be a more
focused and unified operator in the future
• Further improvement of the price and quality
competitiveness of the grocery trade
• New actions with which to put an end to Anttila’s prolonged
loss-making are planned
• Preparatory work for the real estate arrangement continues.
Implementation during the first part of 2015, provided that
the terms and conditions are acceptable to Kesko
• Continued weak trend in purchasing power in Finland
requires Kesko to be more cost effective
3/2015
Kesko’s management was revamped
62
Mikko Helander,
President and CEO
Jorma Rauhala,
grocery trade
Anni Ronkainen,
Chief Digital Officer
Jukka Erlund,
CFO
Pekka Lahti,
car and
machinery trade
Terho Kalliokoski,
home improvement
and speciality
goods trade
Matti Mettälä,
human resources
Anne Leppälä-Nilsson,
legal affairsLauri Peltola, corporate
responsibility,
communications and
stakeholder relations
Year-on-year change in fixed costsexcluding non-recurring items
3/2015Jukka Erlund63
10.3%
7.5% 8.0%
1.2%
-4.0%-4.5%
-4.0%
-2.0% -1.3%-1.0%
-1.6%-1.9%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
Return on capital employedexcl. non-recurring items, moving 12 mo
3/2015Jukka Erlund64
-9.5%
8.1%
18.3%
9.9%
-15
-10
-5
0
5
10
15
20
25
30
Group totalHome and
speciality
goods trade
Food
trade
Car and
machinery
trade
Building and
home
improvement
trade
%
26.2%
€772m €395m €716m €162m €2,354m
Capital
employed:
Return on capital employednew divisional structure
Jukka Erlund65
Group totalHome improvement
and speciality
goods trade
Grocery trade Car and
machinery
trade
%
€1,007m €876m €162m €2,354m
Capital
employed:
22.2%
0.0%
18.3%
9.9%
0
5
10
15
20
25
3/2015
Operating margin excl. non-recurringitems by division
3/2015Jukka Erlund66
1-3/2013
4-6/2013
7-9/2013
10-12/2013
1-3/2014
4-6/2014
7-9/2014
10-12/2014
Food 4.6 4.6 5.1 4.2 4.6 4.8 5.2 4.2
Home and specialitygoods
-5.2 -3.1 -0.6 4.9 -7.3 -6.3 -2.3 2.8
Building and home improvement
-3.0 2.6 3.4 -0.2 -1.8 3.6 4.3 2.0
Car and machinery
3.1 4.3 3.8 1.5 3.0 3.8 3.6 0.8
Total 0.9 2.9 3.5 2.8 0.9 2.9 3.6 2.7
Operating margin excl. non-recurringitems by division, new divisional structure
3/2015Jukka Erlund67
1-3/2014
4-6/2014
7-9/2014
10-12/2014
Grocery 4.1 4.6 5.1 4.9
Home improvement and speciality goods
-4.1 0.6 2.1 0.9
Car and machinery 3.0 3.8 3.6 0.8
Total 0.9 2.9 3.6 2.7
Operating profit as % of net sales
3/2015Jukka Erlund68
Operating margin
excl. non-recurring
items
2014,
% of net
sales
2013,
% of net
sales
Change,
pp
Q4/14,
% of net
sales
Q4/13,
% of net
sales
Change,
pp
Food trade 4.7 4.6 0.1 4.2 4.2 0.0
Home and speciality
goods’ trade-2.8 -0.6 -2.3 2.8 4.9 -2.1
Building and home
improvement trade2.2 1.0 1.2 2.0 -0.2 2.2
Car and machinery
trade2.9 3.3 -0.3 0.8 1.5 -0.6
Total 2.6 2.6 0.0 2.7 2.8 -0.1
Kesko Group’s sales 2/2015
3/2015Jukka Erlund69
February 2015 1.1. - 28.2.2015
€ million Change, % € million Change, %
Grocery trade, total 346.2 -0.3 696.1 -3.1
Home improvement and speciality goods trade, Finland
141.3 0.7 266.3 -4.5
Home improvement and speciality goods trade, other countries
87.8 -5.4 175.9 -6.5
Home improvement and speciality goods trade, total
229.1 -1.7 442.2 -5.3
Car and machinery trade, total 74.9 -8.0 166.7 -8.4
Common operations and eliminations -1.4 -2.8
Grand total 648.8 -1.6 1,302.2 -4.5
Finland, total 550.7 -0.1 1,105.4 -3.8
Other countries, total 98.1 -9.1 196.8 -8.4
Grand total 648.8 -1.6 1,302.2 -4.5
Maturities of interest-bearing liabilities
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€ millionAt 31 Dec.
2014 2015 2016 2017 2018
2019 and
later
Loans from financial institutions 26.9 24.5 0.4 0.1 0.1 1.8
Bonds 240.3 240.3
Private placement notes (USD) 50.2 30.1 20.1
Pension loans 26.1 5.8 5.8 5.8 5.8 2.9
Finance lease liabilities 12.4 6.2 3.2 1.5 0.6 0.9
Payables to K-retailers 119.3 119.3
Other interest-bearing liabilities 23.3 23.3
Unused commercial paper programmes, €359m
Two unused committed borrowing facilities, total €100m
Unemployment rate
3/2015Jukka Erlund71
Source: Statistics Finland
Jukka Erlund71
Daily consumer goods trade, trenddevelopment
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60
70
80
90
100
110
120
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Turnover Volume index
Retail trade, trend development
Jukka Erlund73
60
70
80
90
100
110
120
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Turnover Volume indexLähde: Tilastokeskus
Building permits granted, mil. m3, moving annual total
3/2015Jukka Erlund74
Source: Statistics Finland
Volume index for newbuilding2005=100, trend
3/2015Jukka Erlund75
Source: Statistics Finland
Development of the number of transactions of dwellings in housing companies
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0
10 000
20 000
30 000
40 000
50 000
60 000
70 000
80 000
2008 2009 2010 2011 2012 2013 2014
Whole country Greater Helsinki
Source: Statistics Finland
Development of prices of old dwellings in housing companies by monthindex 2010=100
3/2015Jukka Erlund77
Source: Statistics Finland
First registrations of passenger cars in Finland
3/2015Jukka Erlund78
Source: Statistics Finland
Contact information
3/2015Jukka Erlund79
• www.kesko.fi/investors
• Twitter.com/Kesko_IR
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