Brief: Kesko's Operating Environment Is Estimated To Remain Challenging In 2024

Kesko

26/10/2023 06:20

Oct 26 (Reuters) - Kesko Oyj  KESKOB.HE :
    * KESKO'S OPERATING ENVIRONMENT IS ESTIMATED TO REMAIN
CHALLENGING
IN 2024
    * 2024 OPERATING PROFIT IS EXPECTED TO REMAIN AT A GOOD
LEVEL ALSO
IN 2024 DESPITE CHALLENGES IN COMPANY'S OPERATING ENVIRONMENT
    * OUTLOOK 2024: IN GROCERY TRADE, B2C TRADE AND FOODSERVICE
MARKET
ARE EXPECTED TO REMAIN STABLE, AND INFLATION IS EXPECTED TO SLOW
DOWN IN 2024
    * OUTLOOK 2024: PROFITABILITY IN GROCERY TRADE IS ESTIMATED
TO
REMAIN GOOD ALSO IN 2024
    * IN BUILDING AND TECHNICAL TRADE, MARKET IS EXPECTED TO
CONTINUE
TO DECLINE IN 2024
    * OUTLOOK 2024: ECONOMIC CYCLE WILL HAVE BIGGEST IMPACT ON
NEW
RESIDENTIAL BUILDING, WHILE DECLINE IN OTHER BUILDING
CONSTRUCTION, RENOVATION BUILDING, AND INFRASTRUCTURE
CONSTRUCTION IS EXPECTED TO BE SMALLER, CYCLE IS EXPECTED TO
TURN IN 2025
    * PROFITABILITY IN BUILDING AND TECHNICAL TRADE IS ESTIMATED
TO
FALL SHORT OF 2023 LEVEL, BUT TO STILL REMAIN AT A REASONABLY
GOOD LEVEL IN 2024
    * OUTLOOK 2023: ESTIMATES THAT ITS COMPARABLE OPERATING
PROFIT IN
2023 WILL BE IN RANGE OF EUR 680-730 MILLION
    * OUTLOOK 2023: BEFORE, THE COMPANY ESTIMATED THAT THE
COMPARABLE
OPERATING PROFIT WOULD BE IN THE RANGE OF €680–760 MILLION
    * OUTLOOK 2023: KEY UNCERTAINTIES IMPACTING KESKO'S OUTLOOK
ARE
DEVELOPMENTS IN INFLATION AND INTEREST RATE LEVELS, AND RUSSIA'S
ONGOING OFFENSIVE WAR IN UKRAINE
    * OPERATING PROFIT IS EXPECTED TO REMAIN AT A GOOD LEVEL
ALSO IN
2024 DESPITE CHALLENGES IN OPERATING ENVIRONMENT
    * OUTLOOK 2024: IN CAR TRADE, ORDERS FOR NEW CARS ARE
EXPECTED TO
FALL SHORT OF THE 2023 LEVEL, DEMAND FOR USED CARS AND SERVICES
IS ESTIMATED TO STAY AT A GOOD LEVEL

Source text for Eikon:  ID:nWkr7KPMd8 
Further company coverage:  KESKOB.HE 

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