ICA Gruppen – Reporting in accordance with IFRS 16 Leases
Starting on 1 January 2019 ICA Gruppen reports in accordance with IFRS 16 Leases, which entails a significant change in the consolidated financial statements. To facilitate historical comparisons when quarterly reports are published in 2019, ICA Gruppen is therefore today publishing, on its website, 2018 figures recalculated in accordance with IFRS 16. No recalculation of reporting prior to 2018 will be made.
Adoption of IFRS 16 has a major effect on ICA Gruppen’s financial statements. To facilitate comparisons, as a complement to its presentation of the formal comparison figures for 2018, ICA Gruppen has also chosen to present 2018 figures recalculated according to IFRS 16. Recalculation of 2018 figures has been done as if IFRS 16 had begun to be applied on 1 January 2018 with the lease contracts in force at that time. Key ratios for 2018 that are based on rolling 12-month figures are presented only for the full year 2018, as 2017 figures have not been recalculated for IFRS 16. The various segments within ICA Gruppen will continue to recognise all rents as operating leases. The segment reporting for 2019 will thus be unchanged compared with 2018.
More information about IFRS 16 is available on ICA Gruppen’s website, www.icagruppen.se, in the 2018 Annual Report under Note 1, Accounting principles and general information.
The interim report for the first quarter of 2019 will be published on 3 May 2019.
For more information
ICA Gruppen press service, telephone number: +46 (0)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