Cash flow Kesko Oyj

Equities

KESKOB

FI0009000202

Food Retail & Distribution

Real-time Estimate Tradegate Other stock markets 15:30:41 03/12/2024 GMT			5-day change	1st Jan Change
19.00 ^EUR	+0.76%		-0.24%	+6.05%

11-14	Kesko's sales grew by 6.2% in October - construction trade grew the most	FW
11-14	Kesko Oyj Announces Sales Results for the Month and Year to Date Ended October 2024	CI

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Published financial data: KESKO OYJ

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	10.72B	10.67B	11.3B	11.81B	11.78B
Total Revenues	10.72B	10.67B	11.3B	11.81B	11.78B
Cost of Goods Sold, Total	9.19B	9.16B	9.65B	10.07B	10.11B
Gross Profit	1.53B	1.51B	1.65B	1.74B	1.68B
Selling General & Admin Expenses, Total	1B	966M	982M	1B	1B
Depreciation & Amortization - (IS)	477M	485M	480M	489M	531M
Other Operating Expenses	-404M	-488M	-563M	-541M	-539M
Other Operating Expenses, Total	1.08B	964M	899M	951M	995M
Operating Income	453M	550M	749M	790M	682M
Interest Expense, Total	-101M	-89.7M	-76.1M	-72.4M	-98.3M
Interest And Investment Income	11M	9M	8.5M	9.7M	13.4M
Net Interest Expenses	-90.3M	-80.7M	-67.6M	-62.7M	-84.9M
Income (Loss) On Equity Invest.	46.8M	21.8M	33.9M	24.1M	21.1M
Currency Exchange Gains (Loss)	-100K	-5.7M	2.4M	1.5M	-1.4M
Other Non Operating Income (Expenses)	-3.7M	-3.1M	2.3M	13.8M	0
EBT, Excl. Unusual Items	406M	482M	720M	767M	617M
Restructuring Charges	-	-	-5.4M	-	-
Merger & Related Restructuring Charges	-	-1.3M	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	3.3M	1.7M	-1.9M	-3.7M	2.1M
Gain (Loss) On Sale Of Assets	3.7M	55.8M	1.8M	300K	500K
Asset Writedown	-9.6M	-10.9M	-1.6M	-2.4M	-5.9M
EBT, Incl. Unusual Items	403M	528M	713M	761M	614M
Income Tax Expense	69.6M	92.3M	141M	151M	118M
Earnings From Continuing Operations	334M	435M	572M	610M	496M
Earnings Of Discontinued Operations	11.6M	-	-	-	-
Net Income to Company	345M	435M	572M	610M	496M
Minority Interest	-6M	-2M	-	-	-
Net Income - (IS)	339M	433M	572M	610M	496M
Net Income to Common Incl Extra Items	339M	433M	572M	610M	496M
Net Income to Common Excl. Extra Items	328M	433M	572M	610M	496M
Per Share Items
Net EPS - Basic	0.86	1.09	1.44	1.53	1.25
Basic EPS - Continuing Operations	0.83	1.09	1.44	1.53	1.25
Basic Weighted Average Shares Outstanding	396M	397M	397M	397M	398M
Net EPS - Diluted	0.86	1.09	1.44	1.53	1.25
Diluted EPS - Continuing Operations	0.83	1.09	1.44	1.53	1.25
Diluted Weighted Average Shares Outstanding	396M	397M	397M	397M	398M
Normalized Basic EPS	0.62	0.76	1.13	1.21	0.97
Normalized Diluted EPS	0.62	0.76	1.13	1.21	0.97
Dividend Per Share	0.63	0.75	1.06	1.08	1.02
Payout Ratio	68.4	57.66	52.08	66.68	86.82
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	615M	720M	920M	959M	866M
EBITA	494M	589M	787M	822M	720M
EBIT	453M	550M	749M	790M	682M
EBITDAR	601M	704M	906M	946M	874M
Effective Tax Rate - (Ratio)	17.26	17.49	19.79	19.87	19.23
Total Current Taxes	77.4M	80.8M	134M	142M	114M
Total Deferred Taxes	-8.1M	7.8M	7.1M	8.8M	3.6M
Normalized Net Income	248M	300M	450M	479M	386M
Interest on Long-Term Debt	95.4M	83.3M	71.3M	68.4M	73.4M
Non-Cash Pension Expense	-800K	1.4M	2M	200K	-1.2M
Supplemental Operating Expense Items
Marketing Expenses	215M	207M	211M	210M	208M
Selling and Marketing Expenses	215M	207M	211M	210M	208M
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	-13.9M	-16.3M	-14.1M	-13.7M	7.8M
Imputed Operating Lease Interest Expense	-3.93M	-4.14M	-3.5M	-3.37M	2.36M
Imputed Operating Lease Depreciation	-9.97M	-12.16M	-10.6M	-10.33M	5.44M
Maintenance & Repair Expenses, Total	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	7M	9.5M	9.6M	10.6M	8.1M
Stock-Based Comp., Other (Total)	-9.9M	-12.9M	-20.2M	-19.8M	-10.4M
Total Stock-Based Compensation	-2.9M	-3.4M	-10.6M	-9.2M	-2.3M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	124M	154M	280M	246M	212M
Short Term Investments	34.5M	31.7M	108M	68.6M	15.4M
Trading Asset Securities, Total	10.1M	120M	-	-	-
Total Cash And Short Term Investments	169M	306M	388M	314M	227M
Accounts Receivable, Total	805M	776M	909M	969M	970M
Other Receivables	14.4M	1.6M	100K	21.9M	6.6M
Notes Receivable	27.8M	57.9M	53.1M	84.6M	48.9M
Total Receivables	847M	836M	962M	1.08B	1.03B
Inventory	1.04B	837M	894M	1.12B	1.08B
Prepaid Expenses	181M	219M	251M	281M	258M
Other Current Assets, Total	61.8M	9.9M	500K	500K	-
Total Current Assets	2.3B	2.21B	2.5B	2.79B	2.6B
Gross Property Plant And Equipment	4.53B	4.17B	4.21B	4.44B	4.81B
Accumulated Depreciation	-883M	-914M	-986M	-1.07B	-1.17B
Net Property Plant And Equipment	3.64B	3.26B	3.22B	3.37B	3.64B
Long-term Investments	78.4M	222M	250M	245M	247M
Goodwill	479M	572M	589M	589M	664M
Other Intangibles, Total	192M	193M	178M	181M	207M
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	58.2M	71.5M	68.2M	64.7M	61.3M
Deferred Tax Assets Long-Term	7.6M	1.5M	1.1M	2.2M	13.7M
Other Long-Term Assets, Total	145M	116M	164M	236M	326M
Total Assets	6.9B	6.64B	6.97B	7.47B	7.75B
Liabilities
Accounts Payable, Total	1.03B	1.09B	1.33B	1.5B	1.42B
Accrued Expenses, Total	381M	393M	455M	443M	415M
Short-term Borrowings	98M	123M	121M	82.1M	64.5M
Current Portion of Long-Term Debt	39.8M	59.6M	39.4M	170M	34M
Current Portion of Leases	383M	313M	318M	328M	351M
Current Income Taxes Payable	11.8M	35.2M	28.9M	19.4M	11.2M
Other Current Liabilities	242M	250M	247M	254M	262M
Total Current Liabilities	2.19B	2.26B	2.54B	2.8B	2.56B
Long-Term Debt	477M	409M	206M	246M	691M
Long-Term Leases	2.04B	1.71B	1.61B	1.59B	1.65B
Pension & Other Post Retirement Benefits	400K	400K	400K	-	-
Deferred Tax Liability Non Current	6.8M	16.4M	37.9M	63.2M	70.9M
Other Non Current Liabilities	49.5M	49.9M	40.2M	34.6M	31.4M
Total Liabilities	4.76B	4.45B	4.44B	4.73B	5B
Common Stock, Total	197M	197M	197M	197M	197M
Additional Paid In Capital	198M	198M	198M	198M	198M
Retained Earnings	1.42B	1.58B	1.9B	2.13B	2.19B
Treasury Stock	-35.4M	-31.4M	-30.3M	-28.1M	-26.7M
Comprehensive Income and Other	246M	245M	266M	250M	199M
Total Common Equity	2.03B	2.19B	2.53B	2.74B	2.76B
Minority Interest	115M	-	-	-	-
Total Equity	2.14B	2.19B	2.53B	2.74B	2.76B
Total Liabilities And Equity	6.9B	6.64B	6.97B	7.47B	7.75B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	396M	397M	397M	397M	398M
ECS Total Common Shares Outstanding	396M	397M	397M	397M	398M
Book Value / Share	5.11	5.52	6.37	6.9	6.93
Tangible Book Value	1.35B	1.42B	1.76B	1.97B	1.89B
Tangible Book Value Per Share	3.42	3.59	4.44	4.96	4.75
Total Debt	3.04B	2.62B	2.3B	2.42B	2.79B
Net Debt	2.87B	2.31B	1.91B	2.1B	2.56B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-93.1M	-89.5M	-94.7M	-86.9M	-79.3M
Debt Equivalent Oper. Leases	-111M	-130M	-113M	-110M	62.4M
Minority Interest, Total (Incl. Fin. Div)	115M	-	-	-	-
Equity Method Investments, Total	57.8M	199M	235M	232M	233M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	1.03B	836M	890M	1.11B	1.08B
Inventories - Others	10.6M	1.3M	3.8M	2.4M	5.5M
Land - (BS)	302M	302M	318M	352M	391M
Buildings, Total	1.38B	1.41B	1.47B	1.65B	1.87B
Machinery, Total	611M	604M	642M	666M	701M
Full Time Employees	25.17K	17.65K	17.4K	17.84K	17.7K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	21.5M	19.6M	19.4M	24.4M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	339M	433M	572M	610M	496M
Depreciation & Amortization - CF	436M	446M	442M	457M	494M
Amortization of Goodwill and Intangible Assets - (CF)	40.9M	39.3M	38M	31.6M	37.8M
Depreciation & Amortization, Total	477M	485M	480M	489M	531M
(Gain) Loss From Sale Of Asset	1.2M	-49.5M	3.5M	3.9M	3.9M
(Gain) Loss on Sale of Investments - (CF)	-	-	1.9M	3.7M	-2.1M
Asset Writedown & Restructuring Costs	9.6M	10.9M	7M	2.4M	5.9M
Provision for Credit Losses	3.6M	6.1M	2.2M	4M	5.1M
(Income) Loss On Equity Investments - (CF)	-46.8M	-21.9M	-34.1M	-24.1M	-21M
Stock-Based Compensation (CF)	-2.9M	-3.4M	-10.6M	-9.2M	-2.3M
Net Cash From Discontinued Operations	3.5M	-	-	-	-
Other Operating Activities, Total	101M	62.6M	46.5M	5.2M	42.6M
Change In Accounts Receivable	26.3M	-64.3M	-147M	-107M	69.3M
Change In Inventories	-47.8M	5.5M	-53.2M	-226M	58.3M
Change in Other Net Operating Assets	33.1M	288M	284M	164M	-137M
Cash from Operations	897M	1.15B	1.15B	915M	1.05B
Capital Expenditure	-378M	-204M	-239M	-352M	-539M
Sale of Property, Plant, and Equipment	29.7M	10.6M	13.3M	14M	24.8M
Cash Acquisitions	-281M	-248M	-13.2M	-45.3M	-140M
Divestitures	-	19.6M	2.8M	2.2M	9.9M
Investment in Marketable and Equity Securities, Total	4.6M	5.8M	-55.9M	400K	100K
Net (Increase) Decrease in Loans Originated / Sold - Investing	3.6M	2.7M	-	36.8M	54.3M
Other Investing Activities, Total	3.6M	-100K	100K	-	-
Cash from Investing	-617M	-414M	-292M	-344M	-590M
Long-Term Debt Issued, Total	209M	18.9M	-	133M	283M
Total Debt Issued	209M	18.9M	-	133M	283M
Long-Term Debt Repaid, Total	-331M	-363M	-547M	-333M	-354M
Total Debt Repaid	-331M	-363M	-547M	-333M	-354M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-232M	-250M	-298M	-407M	-430M
Common & Preferred Stock Dividends Paid	-232M	-250M	-298M	-407M	-430M
Other Financing Activities, Total	58.4M	-113M	10M	2.1M	9M
Cash from Financing	-295M	-708M	-834M	-605M	-492M
Foreign Exchange Rate Adjustments	400K	-1.2M	200K	-500K	-700K
Miscellaneous Cash Flow Adjustments	-	100K	-	-	-
Net Change in Cash	-15.2M	30.1M	25.5M	-34.3M	-33.6M
Supplemental Items
Cash Interest Paid	104M	91M	78.3M	73.8M	98.3M
Cash Income Tax Paid (Refund)	94.7M	54M	137M	175M	108M
Levered Free Cash Flow	273M	896M	738M	364M	350M
Unlevered Free Cash Flow	336M	952M	786M	409M	411M
Change In Net Working Capital	43.4M	-330M	-87.3M	212M	4.8M
Net Debt Issued / Repaid	-122M	-344M	-547M	-200M	-70.9M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.27	5.08	6.88	6.84	5.6
Return on Total Capital	5.72	6.89	9.72	9.89	7.96
Return On Equity %	16.03	20.11	24.23	23.14	18.02
Return on Common Equity	16.63	20.56	24.23	23.14	18.02
Margin Analysis
Gross Profit Margin %	14.27	14.19	14.58	14.75	14.23
SG&A Margin	9.36	9.06	8.69	8.5	8.51
EBITDA Margin %	5.73	6.75	8.14	8.12	7.35
EBITA Margin %	4.61	5.52	6.96	6.96	6.11
EBIT Margin %	4.23	5.16	6.63	6.69	5.79
Income From Continuing Operations Margin %	3.11	4.08	5.06	5.16	4.21
Net Income Margin %	3.16	4.06	5.06	5.16	4.21
Net Avail. For Common Margin %	3.06	4.06	5.06	5.16	4.21
Normalized Net Income Margin	2.31	2.81	3.98	4.06	3.27
Levered Free Cash Flow Margin	2.55	8.4	6.53	3.08	2.97
Unlevered Free Cash Flow Margin	3.14	8.92	6.95	3.47	3.49
Asset Turnover
Asset Turnover	1.62	1.58	1.66	1.64	1.55
Fixed Assets Turnover	3.12	3.09	3.49	3.58	3.36
Receivables Turnover (Average Receivables)	13.19	13.5	13.41	12.57	12.15
Inventory Turnover (Average Inventory)	9.42	9.77	11.15	10.02	9.19
Short Term Liquidity
Current Ratio	1.05	0.97	0.98	1	1.02
Quick Ratio	0.45	0.48	0.51	0.47	0.47
Operating Cash Flow to Current Liabilities	0.41	0.51	0.45	0.33	0.41
Days Sales Outstanding (Average Receivables)	27.66	27.12	27.22	29.03	30.04
Days Outstanding Inventory (Average Inventory)	38.74	37.47	32.73	36.43	39.71
Average Days Payable Outstanding	39.43	43.35	45.56	50.23	52.85
Cash Conversion Cycle (Average Days)