S Group’s travel industry and hospitality business remained remarkably strong in 2019
S Group’s tax-free retail sales result for year 2019 was EUR 11,713 million, with a growth of 1.7% in comparison to last year.
S Group’s operating result of its main line of business, daily consumer good sales, in Finland grew 1.8% and totalled EUR 7,383 million.
“Over the course of the year, we began our planned quality and product range projects, which was clearly reflected in the positive development of sales at the end of the year. We expect this positive momentum to continue this year, with the concept of the S Market chain being updated. Almost all or about 440 S-market stores in Finland will be updated during this or next year”, says SOK CEO Taavi Heikkilä.
In 2019, S Group’s travel industry and hospitality business recorded the largest increase in sales by 3.1% and stood at EUR 842 million.
“The travel industry and hospitality business is also undergoing a major update programme. This will continue, but is already paying off in the form of continued sales growth. Original Sokos Hotel Tripla, a brand-new hotel in Pasila, Helsinki, has made an excellent start and will consolidate this development.
S Group’s total sales result, including household consumables and other areas, was EUR 8,249 million, an increase of 1.9%. Service station store and fuel sales decreased by 0.5% from the previous year, totalling €1,721 million. Department store and specialised trading showed a slight drop in sales, down to EUR 290 million, or 1.4% less than in the previous year.
Other business areas achieved sales of EUR 612 million in total. Most of these sales were generated by regional cooperatives that independently carry out automotive sales, which grew by 7.3% last year.
The S Group's tax-free retail sales 1-12/2019
|Business area||Sales (EUR million, S Group total)||Change compared to 1–12/2018 (%)|
|Service station store and fuel sales||1,720.6||-0.5|
|Travel industry and hospitality business*||842.2||3.1|
|Department stores and speciality stores||289.8||-1.4|
|S Group total||11,713.5||1.7|
* The figure includes sales in the Baltic countries and Russia.
S Group’s result for 2019 will be announced on 10/02/2020.
Photos: Nico Backström