The total operating result (FAS) of S Group’s regional cooperatives, SOK and their subsidiaries in January–June 2025 was EUR 135 million. The operating result decreased by 11 per cent from the corresponding period last year. The development was due to S-Bank’s lower operating profit than in the previous year. The retail sales excluding taxes of regional cooperatives, SOK and their subsidiaries amounted to approximately EUR 7 billion. This represents an increase of 1.0 per cent from the previous year.

SOK Corporation’s operating profit (IFRS) in January–June increased from the previous year to EUR 77 million. Behind the performance improvement was the sale of the shopping centre Mylly to Turku Cooperative Society. SOK Corporation’s net sales (IFRS) for the first half of the year were nearly EUR 4.7 billion.

“The performance level remained stable in a subdued market situation and under fierce price competition. For example, the continued strong growth of all of our online stores is gratifying. However, consumers’ purchasing behaviour was still cautious during the first part of the year. In addition, the exceptionally cool weather in May and June affected the performance during the first half of the year in all our business areas and postponed the consumption of the summer season to the heatwave in July,” says SOK’s CEO Hannu Krook.

The Bonus paid to the co-op members in January–June totalled EUR 225 million, which is more than ever before and EUR 6 million more than in the previous year.

Total investments in the 2020s already close to EUR 4 billion

S Group’s investments reached EUR 338 million in January–June. The strong investments by the regional cooperatives in the service network is evident across Finland in new and renovated supermarkets, restaurants and hotels, as well as the country’s largest high-power charging network. The development of online stores and digital services also continued.

“In the 2020s, we have already invested almost EUR 4 billion in Finland and the development of our services. Cooperatives play a significant role in maintaining the vitality, employment situation and security of supply of the whole country,” says Hannu Krook.

Supermarket trade growth driven by price competitiveness and attractive online stores

The operating result of S Group’s supermarket trade in January–June remained at a good level, and sales grew by more than two per cent from the previous year. The downward economic cycle emphasised the importance of price competitiveness. S Group’s grocery trade fulfilled its promise of an affordable shopping basket, and its sales continued to grow stronger than the rest of the sector’s market. In grocery shopping, the demand for fruit and vegetables turned to a clear increase in the early part of the year. Customers were also interested in new products, delicacies, ready-made meals that make the everyday life easier and products related to cooking.

Demand for consumer goods remained subdued in the early part of the year. In the consumer goods trade of Prisma, which increased its customer volumes, total sales remained at the market level. The home appliances trade was clearly busier than the market. This development was accelerated by the doubling of the sales of TVs and the up to six-fold increase in the sales of set-top boxes.

The strong growth of online stores continued in the early part of the year. In the consumer goods trade, Prisma.fi’s sales made a growth leap of more than 60 per cent. Sales of the S-kaupat service increased by more than 20 per cent in January–June compared to the previous year, and the online grocery trade was still performing clearly better than the market. In addition to the online grocery trade collection centres, the service was enhanced by the expanding robot deliveries and the express delivery partners Foodora and Wolt.

In the specialty stores business, multichannel services were strengthened and procurement cooperation with Åhléns was launched

In the January–June period, the operating result of the speciality stores business was at the last year’s level, but sales were over three per cent below the previous year’s level. The difficult economic situation highlighted the importance of campaigns. In the early-year campaigns of the Sokos and Emotion chains, sales even rose to a record level. The varying weather conditions had an impact particularly on fashion sales. The mild winter and cool early summer caused many to postpone their seasonal purchases.

The Sokos.fi online store increased its sales by a third compared to the previous year. Smooth transactions, an interesting selection and fast deliveries are also reflected in high customer satisfaction. The online store’s free store pick-up service is already available at Sokos, Prisma and Emotion stores, and its extension to S-market, Alepa and Sale stores is being tested.

A significant new initiative in the first half of the year was the launch of procurement cooperation between S Group and Åhléns. It brings the Swedish department store’s popular private label products to the home and fashion selections of Sokos and Prisma.

Favourable development continued in the ABC chain, which is digitalising its services

The operating result of S Group’s fuels retail and service stations for January–June increased from the previous year. Road traffic volumes increased slightly in January–June from the previous year, and business was busy at the ABC service stations. Due to the fall in the world market prices of fuels, total sales fell by about six per cent from the level of 2024.

The development was favourable in all ABC station services, and especially strong in electric charging and car washes. Charging sales increased more than 1.5 times due to the expanded charging network. Demand at restaurants was boosted by the revised buffet offering. Direct sales deliveries of fuels to companies also showed good growth in the early part of the year.

“We have invested in the fuels retail and service stations services, and more and more road users are stopping at ABC service stations. A key growth factor is well-functioning digital services. The ABC-mobiili application already has more than 700,000 users, and mobile sales are growing rapidly,” Hannu Krook says.

During a sluggish economic cycle, the development of the travel industry and hospitality business outperformed the market

S Group’s travel industry and hospitality business sales increased by almost two per cent in January–June from the level of 2024. However, its performance development was weaker than in the previous year. Consumers’ caution, the increased cost level and fierce price competition were reflected in the operating conditions of the sector. The tax increases last autumn and at the turn of the year also came at a very difficult moment for the industry.

Despite the challenging market, S Group’s hotels and restaurants attracted customers more than other operators. S Group’s travel industry, which has returned to the market leader position, developed better than the market during the first part of the year. International tourists are returning to Finland, and an increasing share of them chose an S Group hotel. In the demand for restaurant services, fast food concepts were particularly emphasised. Sales were also busier than in the previous year at meeting and private restaurants.

Prerequisites for the economy and consumption to pick up are already in place

“Our outlook for the rest of the year is moderate. There are still uncertainties associated with the operating environment, and the rising costs put pressure on our performance development. However, there are signs of a positive turn in the economy, although a bigger pick-up in consumption is likely to be postponed until next year. We expect the cooperatives’ full-year operating result to remain at last year’s level and SOK Corporation’s operating profit (IFRS) to improve slightly from the previous year,” says Hannu Krook.

Key figures in January–June 2025

Regional cooperatives, SOK and their subsidiaries January–June 2025:

• Retail sales before taxes totalled EUR 7,005 million (6,961 million in the previous year).

• The operating result (FAS) was EUR 135 million (EUR 152 million).

• Investments totalled EUR 338 million (EUR 397 million).

• The total number of co-op members at the end of June was 2,672,313 (2,603,016).

• Bonuses paid totalled EUR 225 million (EUR 219 million).

• The number of active employment contracts was 49,167 (48,397) at the end of June. (The figure includes S-Bank.)

• The total number of outlets at the end of June was 2,053 (2,015).

* non-consolidated and unaudited

SOK Corporation (SOK + subsidiaries), January–June 2025:

• Net sales (IFRS) stood at EUR 4,677 million (EUR 4,562 million in the previous year).

• Operating profit (IFRS) stood at EUR 77 million (EUR 45 million).

• Investments totalled EUR 18 million (EUR 20 million).

• At the end of June, the number of personnel was 6,699 (6,466).

** unaudited

SOK Corporation’s interim report will be available at S-ryhmä.fi on 26 August 2025.