ICA AB interim report January – March 2009
ICA AB interim report January – March 2009
Solna May 6, 2009
Increased net sales and improved operating income for the ICA Group during the first quarter
First quarter ? Net sales for the first quarter were SEK 22,559 million (21,299), up 5.9 percent compared to the same period last year. At constant exchange rates, net sales were up 2.9 percent.
? Operating income was SEK 266 million (259), up 2.7 percent compared to the same period last year. Operating income excluding capital gains on property sales of SEK 15 million was SEK 251 million (225), up 11.6 percent compared to the same period last year. ? Income after net financial items for the first quarter was SEK 164 million (156), up 5.1 percent compared to the same period last year.
? Net income for the first quarter was SEK 109 million (191), down 42.9 percent compared to the same period last year. The decrease is a result of higher tax expenses.
Extract from CEO comment – Kenneth Bengtsson, CEO and President ICA AB: "The ICA Groups net sales increased by 5.9 percent during the first quarter to SEK 22,559 million compared to last year even though last year was positively affected by Easter sales. Operating income also improved for the Group by 2.7 percent to SEK 266 million, although the level of income differed markedly at each company. ICA Sweden, ICA Bank and ICA Real Estate performed well, while income from ICA Norway and Rimi Baltic declined. We continue to focus on our priority areas: pricing and sales campaigns, cost savings programs and the turnaround of ICA Norway. "
For the entire report, with a complete 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 office, phone +46 70 253 66 60
----------------------------------------------------------------------------------------------------- About ICA The ICA Group (ICA AB) is one of the Nordic regions leading retail companies, with around 2,230 of its own and retailer-owned stores in Sweden, Norway and the Baltic states. The Group includes the retail 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 a 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