ICA’s Capital Markets Day – investing in new customer benefits and to capitalise on synergies
Today, 13 December 2018, ICA Gruppen is arranging a Capital Markets Day in Stockholm. The programme includes, among other things, a review of the Group’s strategic priorities, ICA Gruppen’s work with sustainability and digitalisation, and of the Group’s various businesses. ICA will also announce the increase in the Group’s capex budget for 2019 to SEK 4 billion.
ICA Gruppen’s management is today meeting with financial analysts, bank representatives and the media to present the company’s strategies, view of the market, and investments. During the day ICA will also talk about the Group’s capex budget for 2019, among other things.
“Digitalisation and the Group structure give us a number of new opportunities to create synergies and new customer benefits. We can spread investments in new technology among the companies, and we can create new customer offerings that combine our various businesses. To capitalise on these opportunities and ensure long-term growth, we need to maintain a high rate of investment. Compared with 2017 we have doubled our IT investments, and we continue to invest in our marketplaces and in logistics and infrastructure,” comments Per Strömberg, CEO of ICA Gruppen.
Capital expenditures (capex) in 2019 are estimated to amount to SEK 4 billion. Capital expenditures for 2018 are expected to total approximately SEK 3.5 billion by year-end. ICA Gruppen continues to invest heavily in the store network and in IT, CRM and e-commerce solutions. At the same time, the Group will be increasing its investments in Rimi Baltic in 2019, among other things to build the central warehouse in Riga, as previously communicated. During 2019 Rimi Baltic is expected to open 8 to 10 new stores, Apotek Hjärtat is expected to open 6 to 8 new pharmacies, and ICA Sweden is expected to open 12 to 14 new stores.
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