ICA Gruppen Q2 report 2017

Underlying earnings stable; higher costs from new ventures

Second quarter of 2017 in summary

  • Consolidated net sales amounted to SEK 27,198 million (26,222), an increase of 3.7%
  • Operating profit excluding non-recurring items totalled SEK 1,094 million (1,154)
  • The sale of ICA Real Estate in Norway and inkClub, and costs ahead of the integration of the acquisition of IKI in Lithuania, affected operating profit excluding nonrecurring items by a combined total of SEK -53 million
  • Profit for the period was SEK 1,021 million (829). Profit includes capital gains on sales of non-current assets and impairment losses totalling SEK 165 million net (-37)
  • Earnings per share were SEK 5.06 (4.12)
  • Cash flow from operating activities amounted to SEK 2,001 million (1,785). Excluding ICA Bank, cash flow was SEK 1,836 million (1,463)
  • The sale of 12 properties to Secore Fastigheter was completed on 2 June, generating a capital gain of approximately SEK 150 million

After the end of the quarter

  • No significant events have taken place after the end of the quarter

Comment from the CEO of ICA Gruppen, Per Strömberg:

“We had stable underlying earnings during the second quarter, with Apotek Hjärtat – above all – posting a good quarter. Other businesses have been affected by divestments to varying degrees – particularly the sale of properties in Norway – as well as by ongoing activities and ventures. Higher costs have resulted in a slightly lower operating margin than a year ago, but with a high level of activity it is at the same time natural that there will be variations from quarter to quarter that affect earnings. In the long-term perspective we are on track to meeting our targets.”

For further information, please contact:

Frans Benson, Head of Investor Relations

tel. +46 8-561 500 20

ICA Gruppen press service

Tel +46 10 422 52 52

Press and analyst meeting

ICA Gruppen is arranging a press and analyst meeting on Wednesday 16 August at 10.00 CET at Tändstickspalatset, Västra Trädgårdsgatan 15 in Stockholm. CEO Per Strömberg and CFO Sven Lindskog will present the interim report. The conference can also be followed at www.icagruppen.se/investerare.

To call in, please dial:   

SE +46 8 5050 3050                   

UK +44 203 655 1001               

Conference PIN: 1839741#


10 November 2017                Interim report third quarter

14 December 2017                Capital Markets Day

8 February 2018                    Year-end report 2017

This information is such that ICA Gruppen AB is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at time 07.00 CET on Wednesday, August 16, 2017.

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