ICA Group’s Year-end report 2012
Solna, Sweden, 11 February, 2013
A successful year for the ICA Group
Ownership changes in ICA
- Hakon Invest and Ahold have today announced that Hakon Invest is acquiring Ahold’s shares in ICA. Following completion of the acquisition, ICA and Hakon Invest will become one group – ICA Gruppen. ICA’s CEO Per Strömberg is envisioned as CEO of ICA Gruppen. Due to this announcement, ICA has moved forward the publication of the year-end report to today.
- Net sales for the fourth quarter amounted to SEK 24,990 million (24,921), up 0.3 percent. Adjusted for the divested ICA Maxi stores in Norway, net sales increased by 3.6 percent, or 4.2 percent at constant exchange rates.
- Operating income amounted to SEK 928 million (947), a decrease of 2.0 percent.
- Income after net financial items amounted to SEK 812 million (853).
- Net income for the fourth quarter amounted to SEK 733 million (711). The quarter contains a one-time tax reduction of SEK139 million after the Swedish corporate tax rate was cut to 22 percent as of 2013.
- Net sales for the year amounted to SEK 96,863 million (95,179), up 1.8 percent. Adjusted for the divested ICA Maxi stores in Norway, net sales increased by 4.0 percent, or 4.2 percent at constant exchange rates.
- Operating income amounted to SEK 3,466 million (3,097) excluding non-recurring items of SEK 192 million (592), up 11.9 percent.
- Income after net financial items amounted to SEK 2,937 million (2,156).
- Net income for the year amounted to SEK 919 million (1,395). Net income for the year includes a tax expense of SEK 1,274 million related to a tax dispute for the years 2004–2008 as well as a one-time tax reduction of SEK 139 million after the Swedish corporate tax rate was cut to 22 percent as of 2013.
Extract from CEO comment – Per Strömberg, CEO ICA AB:
2012 was a successful year for the ICA Group. The grocery market in all the countries where ICA operates performed fairly strongly despite the turbulent economic situation in Europe. Operating income excluding non-recurring items amounted to SEK 3,466 million, up 12 percent, mainly driven by a continued strong sales trend in ICA Sweden. Rimi Baltic, ICA Bank and ICA Real Estate also posted better results during the year. However, net income was affected by a tax expense of about SEK 1.3 billion due to a ruling by the County Administrative Court on October 4.
For the entire report, with a complete comment by the CEO and description of the financial results, please see the attached pdf-file.
For more information:
Per Strömberg, CEO, ICA AB, phone: +46-10-422 50 05
ICA’s press office, phone +46 70-253 66 60
The ICA Group (ICA AB) is one of the Nordic region’s leading retail companies, with around 2,100 of its own and retailer-owned stores in Sweden, Norway and the three Baltic states. The Group includes retail companies ICA Sweden, ICA Norway and Rimi Baltic; ICA Real Estate, which owns and manages properties; and ICA Bank, which offers financial services to Swedish customers. ICA AB is a joint venture 40% owned by Hakon Invest AB and 60% by Royal Ahold N.V. of the Netherlands. According to a shareholder agreement, Royal Ahold and Hakon Invest jointly share controlling influence over ICA AB. Through Royal Ahold, ICA AB is part of an international retail network. For more information, please visit www.ica.se