The total operating result (FAS) of S Group’s regional cooperatives, SOK and their subsidiaries in January–December 2025 was EUR 495 million (499 million). The retail sales, excluding taxes, of the regional cooperatives, SOK and their subsidiaries increased by 1.5 per cent year-on-year, totalling EUR 14.5 billion.

SOK Corporation’s operating profit (IFRS) was EUR 140 million. The operating profit improved by 21.7 per cent from the previous year. The improvement was supported by the sale of the ownership stake in the Mylly shopping centre to the Turku Cooperative Society. SOK Corporation’s net sales (IFRS) were around EUR 9.7 billion.

– The result remained at a good level despite the weak economic situation and consumer caution. Price competition was very intense. A permanently affordable shopping cart, well‑targeted services and a well-maintained network provided us with a solid foundation to compete. It was a particularly successful year for fuels retail and service stations, as well as for rapidly growing online stores. Online stores and mobile sales already constitute a billion‑euro business for us,” says Hannu Krook, CEO of SOK.

EUR 3 billion to co-op members in the 2020s, more than half a billion in 2025

In 2025, more Bonus and other monetary benefits were paid to the co-op members than ever before, EUR 558 million. In total, around EUR 3 billion in monetary benefits have been paid to co-op members in the 2020s. Nearly 112,000 new members joined S Group’s cooperatives.

“The figures show that the idea of a cooperative is still relevant today. Our task is to produce growing benefits for our owners; that is, Finnish consumers. We achieve this through benefits, services valued by customers and a competitive price level. Every day, four million S-Etukortti membership card users evaluate how we succeed in our task,” Hannu Krook sums up.

Investments in the 2020s total nearly EUR 4.3 billion – strengthening Finland as a whole

Investments by the regional cooperatives, SOK and their subsidiaries remained at a significant level, totalling EUR 683 million in 2025. In addition to strengthening the network of outlets, major investments focused on expanding the ABC chain’s vehicle charging network, as well as on online stores and the commissioning of the Arina Cooperative Society’s online grocery shopping collection centre in early 2026.

In total, the companies of the retail group have invested almost EUR 4.3 billion in their home country and the development of their services in the 2020s. The substantial and long‑term investments made by the cooperatives create jobs and vitality and strengthen the security of supply across the country.

Outperforming the market in grocery and non-food retail and in the foodservice wholesale business

The operating result of S Group’s grocery and non-food retail strengthened in 2025. Sales increased by 2.5% from the previous year, amounting to nearly EUR 11 billion.

The number of transactions in grocery and non-food retail increased, and S Group’s grocery sales continued to outperform the rest of the Finnish market. The weak economic cycle highlighted the importance of an affordable shopping cart. In grocery retail, major price reductions were implemented just before the turn of the year 2025 and again in November, when the prices of more than 1,300 products were lowered. In our estimation, non-food retail sales as a whole also developed faster than the market. In the foodservice wholesale business, Meira Nova clearly outperformed the market and increased its sales by 8 per cent from the previous year.

In grocery shopping, solutions that make everyday life easier, such as ready meals and ready-to-eat products, as well as fruit and vegetables, grew in popularity. There was also increased spending on festive foods. In non-food retail, customers were particularly interested in Prisma’s private labels House, Luode12 and WKLY. The digital transition boosted the sales of televisions.

Online stores delivered another significant growth leap. The S-kaupat online grocery store strengthened its market leadership and increased its sales by 28 per cent from the previous year. Sales in the Prisma.fi online store grew by more than 60 per cent. Growth was supported by the expansion of the popular click‑and‑collect service. Orders from the Prisma.fi and Sokos.fi online stores can now be picked up free of charge from all Prisma and Sokos stores.

Specialty retail was boosted by campaigns and strong online momentum

In S Group’s speciality retail, the operating result for 2025 fell short of the previous year’s level. Sales amounted to around EUR 266 million, decreasing by 1.7 per cent from the previous year. The subdued economic cycle continued to weigh on demand and highlighted the importance of campaigns.

Sales and operating profit for the Sokos and Emotion chains, which form part of specialty retail, remained at the previous year’s level. The chains’ campaigns were successful, and their sales even reached a record level. Multichannel transactions also grew in popularity. Sales in the Sokos.fi online store grew by more than 30 per cent, and the number of customers rose by 40 per cent from the previous year. Key drivers of growth included smooth service and deliveries, as well as free click‑and‑collect, which was expanded to cover all Prisma stores. In cosmetics, Sokos and Emotion maintained their position as market leaders. Retail in fashion outperformed the market, and the demand for home products increased markedly. The Åhléns products introduced to the selection also attracted strong consumer interest.

Fuels retail and service stations on a path of renewal and strong growth

2025 was a year of strong development for the ABC chain. S Group’s fuels retail and service stations improved their operating result from the previous year, with total sales of nearly EUR 2 billion. Sales were 3.8 per cent below the previous year’s level due to the decline in the world market prices of fuels.

The fall in fuel prices contributed to the increase in purchasing power and road traffic volumes. This was also reflected in the demand for the ABC chain’s services. Car washes and vehicle charging saw particularly strong activity. Sales from vehicle charging increased by almost 1.5 times compared with the previous year. This trend was supported by the expansion of the network with 29 new charging stations. The sales of the ABC-mobiili app grew by more than 20 per cent year-on-year. The app already has more than 800,000 users.

“Performance in our fuels retail and service stations has been excellent. The services have been modernised across the board. The work done is reflected in the result and the increase in the number of transactions. At the same time, we have responded to the transformation of the industry and changes in the market. ABC’s first refuelling and charging stations for heavy‑duty traffic will open in 2026,” Hannu Krook says.

The travel industry and hospitality business was boosted by the growth of international tourism

The operating result of S Group’s travel industry and hospitality business developed positively. Sales increased from the previous year and amounted to nearly EUR 838 million. Consumer caution and higher costs continued to weigh on the sector.

S Group’s hotels and restaurants outperformed the market in a challenging situation. Development in the hospitality business was strong, particularly in fast-food restaurants and cafés. In the tourism trade, demand picked up during the year, and Sokos Hotels strengthened its position as the market leader.

“It’s great that so many customers chose an S Group hotel or restaurant. It was especially encouraging to see robust growth in international tourism and the return of Sokotel Oy, SOK’s hotel company, to profit after the pandemic and the drop in visitors to the Helsinki region,” Hannu Krook notes.

S‑Bank’s result at a good level, strategy on track

S-Bank’s operating profit in 2025 was EUR 106.4 million (165.2 million). The result remained at a good level, and the bank’s capital adequacy ratio and liquidity also remained strong. The number of active customers increased due to the successful Handelsbanken integration and service development. During the year, S-Bank gained more than 100,000 new active customers, and in December they numbered 858,000.

December 2025 marked one year since the corporate transaction through which S‑Bank acquired Handelsbanken’s private customer and asset management businesses in Finland. The transaction has supported S-Bank’s growth strategy and competitiveness. S-Bank’s assets under management increased, the range of funds diversified and the number of Private Banking customers nearly doubled. The financial statements bulletin of S‑Bank Plc for 1 January–31 December 2025 is available on S‑Bank’s website.

Conditions for a pickup in demand are in place, consumer confidence will be decisive

S Group’s outlook for 2026 is positive, although uncertainties remain and consumers are cautious.

“The conditions for a recovery in domestic consumption are in place. The economic turnaround appears to have taken place, purchasing power is improving and inflation is expected to remain at a moderate level. It is now important to strengthen consumer confidence. It must also be kept in mind that many Finns genuinely do not have extra money to spend. It is therefore imperative to refrain from VAT increases. Temporarily removing the transfer tax should also be considered to boost the housing market,” Hannu Krook emphasises.

Key figures in January–December 2025

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

• Retail sales before taxes totalled EUR 14,506 million (14,288 million in the previous year).

• Net sales (FAS) were EUR 15,353 million (15,034 million).

• The operating result (FAS)* was EUR 495 million (499 million).

• Investments*, ** totalled EUR 683 million (866 million).

• The total number of co-op members at the end of the year was 2,713,138 (2,653,271).

• The cooperatives paid a total of EUR 471 million (453 million) in bonus to co-op members.

• An average amount of 206 euros was paid to co-op members during the year, including bonus, payment method benefit, return of surplus and interest on the membership fee.

• The number of personnel was 41,619 (42,025) at the end of the year. This figure is based on active employment relationships (including regional cooperatives, SOK Corporation and S-Bank personnel).

• The total number of outlets at the end of the year was 2,059 (2,036).

* combined, non-consolidated and unaudited ** The basis for calculating the investment figure has changed. The 2024 comparison figure has been updated accordingly.

SOK Corporation (SOK + subsidiaries), January–December 2025***:

• Net sales (IFRS) stood at EUR 9,652 million (9,328 million in the previous year).

• Operating profit (IFRS) was EUR 140 million (115 million).

• Investments totalled EUR 37 million (140 million).

• The number of personnel was 6,315 (6,228) at the end of the year. This figure is based on active employment relationships.

*** unaudited

The retail sales before taxes of regional cooperative enterprises, SOK and their subsidiaries 1–12/2025

The grocery and non-food retail includes S Group’s grocery retail and Prisma non-food retail.

*The figure includes sales in Estonia.

SOK Corporation’s Financial Statements Bulletin 1–12/2025, SOK Corporation’s Financial Statements for 2025 with notes, S Group’s Sustainability Statement and S Group’s Annual Review will be published on S Group’s website on 31 March 2026.