Kesko Corporation changes the consolidation method of Kesko Senukai in Kesko’s consolidated financial statements from a subsidiary to a joint venture from 1 July 2020 onwards
Kesko will be reporting Kesko Senukai Group, which is part of Kesko’s building and technical trade segment and operates in the Baltic countries and Belarus, as a joint venture from 1 July 2020 onwards. Kesko has reported Kesko Senukai Group as a subsidiary up until 30 June 2020. In its half year financial report on 23 July 2020, Kesko stated that it would continue the strategic review of operations in the Baltics and Belarus, initiated in April. The review process continues. Kesko also stated at the time that it was examining conditions for subsidiary consolidation of Kesko Senukai in