ICA AB interim report January – March 2007
ICA AB interim report January – March 2007
Solna May 15, 2007
Strong sales growth but lower operating income during first quarter
? Net sales during the first quarter amounted to SEK 18,791 million (15,595), an increase of 20.5 percent. Rimi Baltics net sales of SEK 2,390 million are consolidated beginning this year. Excluding Rimi Baltic, the Groups net sales were SEK 16,401 million, an increase of 5.2 percent.
? Operating income for the first quarter decreased to SEK 346 million (561), or by 38.3 percent. Operating income includes capital gains on real estate sales and impairment losses on fixed assets of SEK 117 million (96). Excluding these items, operating income decreased by 50.8 percent. Income after tax from continuing operations decreased to SEK 341 million (469).
? Net income for the first quarter amounted to SEK 341 million (465), a decrease of 26.7 percent, and includes the impact from the sale of ICA Meny of SEK 0 million (–4).
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