ICA Gruppen’s financial targets recalculated for IFRS
ICA Gruppen has recalculated two of its long-term financial targets in view of the new IFRSs 15 and 16.
ICA Gruppen applies IFRS 15 starting in 2018 and will begin reporting in accordance with IFRS 16 in 2019. As a consequence of this, two of ICA Gruppen’s financial targets are being adjusted as from 1 January 2019.
The Group’s financial targets have been set to ensure that ICA Gruppen creates long-term value for the shareholders and reflect the Group’s focus on the stable grocery retail sector. The table below summarises how the financial targets will be affected.
|Previously reported targets||Change||Targets adjusted for IFRS|
|Grow faster than the market||All markets||No change||All markets|
|Operating margin excluding items affecting comparability||4.5%||No change||4.5%|
|Net debt/EBITDA||< 2.0x||1.0x||< 3.0x|
|Dividend (% of profit for the year)||> 50%||No change||> 50%|
*** Excluding ICA Banken
For more information
ICA Gruppen press service, Telephone number: +46 10 422 52 52
ICA Gruppen AB (publ) is a leading retail company with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic which mainly conduct grocery retail, ICA Real Estate which owns and manages properties, ICA Bank which offers financial services and Apotek Hjärtat which conducts pharmacy operations. The Group also includes Hemtex. For more information see icagruppen.se