ICA AB interim report January – June 2007
ICA AB interim report January – June 2007
Solna August 21, 2007
Continued sales increase but lower operating income in first half year
? Net sales during the first half year amounted to SEK 39,490 million (32,671), an increase of 20.9 percent. Rimi Baltics net sales of SEK 5,120 million are consolidated as of this year. Excluding Rimi Baltic, the Groups net sales were SEK 34,370 million, an increase of 5.2 percent.
? Operating income for the first half year decreased to SEK 941 million (1,249), or by 24.7 percent. Operating income includes capital gains on real estate sales and impairment losses on fixed assets of SEK 333 million (193). Excluding these items, operating income decreased by 42.4 percent.
? Net income for the first half year amounted to SEK 832 million (1,000), a decrease of 16.8 percent.
? Net sales during the second quarter amounted to SEK 20,699 million (17,076), an increase of 21.2 percent. Rimi Baltics net sales of SEK 2,730 million are consolidated as of this year. Excluding Rimi Baltic, the Groups net sales were SEK 17,969 million, an increase of 5.2 percent.
? Operating income for the second quarter decreased to SEK 595 million (688), or by 13.5 percent. Operating income includes capital gains on real estate sales and impairment losses on fixed assets of SEK 215 million (97). Excluding these items, operating income decreased by 35.7 percent.
? Net income for the second quarter amounted to SEK 491 million (535), a decrease of 8.2 percent.
For the entire report, with comment by the CEO and description of the financial results, please see the attached pdf-file.
For more information: Kenneth Bengtsson, President and CEO, ICA AB, phone: +46 8 561 502 58 ICAs press hotline, phone +46 70 253 66 60
----------------------------------------------------------------------------------------------------- About ICA The ICA Group (ICA AB) is one of the Nordic regions leading retail companies, with around 2,300 of its own and retailer-owned stores in Sweden, Norway and in the Baltic States. The Group includes the sales companies ICA Sverige, ICA Norge and Rimi Baltic. ICA also offers financial services to Swedish customers through ICA Banken. 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 http://www.ica.se