Kesko Oyj — Earnings Release 2008

Apr 14, 2008

Disclosure 257710

Kesko Oyj - Company Announcement

Kesko's March sales decreased by 2.1%

KESKO CORPORATION STOCK EXCHANGE RELEASE 14.04.2008 AT 11.00 1(2) Kesko's March sales decreased by 2.1% The Kesko Group's sales from continuing operations in March 2008 totalled €800.3 million (excluding VAT) and showed a decrease of 2.1% over the corresponding period of the previous year. Due to Easter falling in March, the number of wholesale and retail days was three less than in the previous year. In January-March, the sales from continuing operations were €2,306.3 million (excluding VAT), up 6.7%. The sales from foreign operations in March were €162.9 million, an increase of 3.5%. Foreign operations accounted for 20% of the Group's sales. Kesko Food's sales were €330.4 million in March, a decrease of 2.1%. Besides the number of selling days, the sales trend was affected by Easter wholesale sales being divided into February and March. Rautakesko's sales decreased by 4.5% to €206.2 million in March. Sales decreased in Finland by 7.1% and in other countries by 2.6%. Sales in the Baltic countries dropped by 4.1%. In Russia, sales increased by 35.8%. VV-Auto's sales in March amounted to €79.0 million, which was 3.8% less than in the previous year. The sales trend was partly affected by a decrease in the average passenger car price, resulting from the car tax change. In Finland, first registrations of passenger cars decreased by 1.4% in March. The market share of passenger cars represented by VV-Auto was 15.5% (14.1%). Anttila's sales in March were €42.1 million, which was 5.5% less than in the previous year. The sales of Kodin Ykkönen department stores increased by 8.9%, while the sales trend of Anttila department stores was -13.1% and that of distance sales by NetAnttila -2.3%. Kesko Agro's sales in March were €78.9 million, up 16.5%. Sales in Finland increased by 3.2% and in the Baltic countries by 45.4%. Sales growth can be attributed to grain trade. The Kesko Group's sales, excluding VAT, in March 2008: March 2008 1.1. - 31.3.200 8 € million Change,% € Change,% million Kesko Food, Finland 328.9 -2.2 944.8 6.1 Kesko Food, other countries 1.5 8.7 4.4 15.1 Kesko Food, total 330.4 -2.1 949.3 6.1 Rautakesko, Finland 85.0 -7.1 239.5 7.8 Rautakesko, other countries 121.2 -2.6 355.4 11.0 Rautakesko, total 206.2 -4.5 594.9 9.7 VV-Auto, Finland 77.6 -3.2 262.1 5.8 VV-Auto, other countries 1.4 -30.5 4.2 -27.1 VV-Auto, total 79.0 -3.8 266.3 5.1 Anttila, Finland 39.9 -6.3 121.8 7.2 Anttila, other countries 2.2 5.7 6.3 3.4 Anttila, total 42.1 -5.5 128.1 7.0 Kesko Agro, Finland 47.9 3.2 118.3 -1.0 Kesko Agro, other countries 31.0 45.4 62.7 24.5 Kesko Agro, total 78.9 16.5 181.0 6.6 Other operating activities, 59.7 -9.4 171.1 4.6 Finland Other operating activities, 6.3 -13.4 22.3 -6.4 other countries Other operating activities, 66.0 -9.8 193.5 3.2 total Common operations and -2.3 -6.8 eliminations Finland, total 637.3 -3.5 1,852.2 5.7 Other countries, total 162.9 3.5 454.1 11.1 Grand total 800.3 -2.1 2,306.3 6.7 Other operating activities consist of Konekesko, Intersport Finland, Indoor Group, Musta Pörssi and Kenkäkesko. The Kesko Group has classified Kauko-Telko as a discontinuing operation on 28 February 2008 and Tähti Optikko Group as a discontinuing operation on 31 March 2008, and their sales are accordingly not included in the figures given above. Starting from July 2007, Rautakesko's sales figures include the sales of OMA, the Belorussian subsidiary of Rautakesko's subsidiary Senukai. Change,% indicates the change over the corresponding period of the previous year. In March 2008, the number of selling days in Kesko's wholesale was 19, which was three less than in March 2007. In January-March, the total number of selling days was two less than in the previous year. The number of retail days in March was three less than the year before. Kesko publishes advance information about the K-Group's retail sales quarterly, in connection with the interim financial reports. Further information is available from Jukka Erlund, Vice President, Corporate Controller, tel. +358 1053 22338. Kesko Corporation Harri Utoslahti Communications Manager DISTRIBUTION Helsinki Stock Exchange Main news media