ICA Gruppen interim report Q1 2019

Good start to the year – improved profitability

First quarter 2019

  • Consolidated net sales amounted to SEK 28,098 million (27,181), an increase of 3.4%
  • Operating profit excluding items affecting comparability was SEK 1,125 million (972). Operating profit, recalculated according to IFRS 16, was SEK 1,005 million in 2018
  • ICA Sweden's operating profit excluding items affecting comparability includes an estimated negative calendar effect of approximately SEK 35 million for the Easter weekend. At the same time, the result includes positive effects in roughly the same amount from divestments of store subsidiaries in ICA Sweden and the effect of the changed assessment of the useful life for properties and their components in ICA Real Estate
  • Profit for the period was SEK 813 million (700). Profit includes capital gains on sales of non-current assets and impairment losses totalling SEK -10 million net (0)
  • Earnings per share were SEK 4.02 (3.46)
  • Cash flow from operating activities amounted to SEK 1,669 million (732). Excluding ICA Bank, cash flow was SEK 1,609 million (1,016)

Events after the end of the quarter

  • On 11 April the Annual General Meeting approved the dividend of SEK 11.50 per share, in accordance with the Board's proposal
  • At the Annual General Meeting, Lennart Evrell and Bo Sandström were elected as new directors on ICA Gruppen's board, replacing Göran Blomberg and Bengt Kjell, both of whom declined re-election

From the sustainability report

  • During the quarter ICA Gruppen adopted a new Group target: to cut food waste in its own operations in half by 2025

Comment from CEO Per Strömberg:

“We have had a good start to the year with good sales and profitability in most of our businesses. This is particularly noticeable for ICA Sweden and Rimi Baltic, which despite negative calendar effects for Easter posted a considerably better quarter than a year ago. Starting with this report we are integrating the sustainability report in our quarterly earnings reports. In doing so we are further underscoring the importance of – and our strong focus on – sustainability issues.”

For more information
ICA Gruppen press service, telephone number: +46 (0)10 422 52 52
Frans Benson, Head of Investor Relations, telephone number: +46 (0)705 10 70 95

This is information that ICA Gruppen AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.00 CET on Friday, May 3, 2019

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About Us

About ICA GruppenICA 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 the wholly owned portfolio company inkClub and the partly owned portfolio company Hemtex. For more information see icagruppen.se