ICA AB interim report January - March 2010
ICA AB interim report January - March 2010
Solna 5 May, 2010
Increased net sales and improved operating income in first quarter
First quarter ? Net sales for the first quarter amounted to SEK 22,719 million (22,559), up 0.7 percent. At constant exchange rates, net sales were up 1.7 percent.
? Operating income amounted to SEK 620 million (266), up 133.1 percent. Operating income excluding capital gains on property sales of SEK 4 million (15) amounted to SEK 616 million (251), up 145.4 percent. ? Income after net financial items amounted to SEK 537 million (164), up 227.4 percent. ? Net income for the first quarter amounted to SEK 395 million (109), up 262.4 percent.
Extract from CEO comment – Kenneth Bengtsson, CEO and President ICA AB: "The first quarter of the year was another strong quarter for the ICA Group despite a challenging economic environment. Our positive development is the result of a good customer offering and the right investments. ICA Swedens income improved substantially at the same time that ICA Norways loss was reduced significantly during the first quarter. Rimi Baltics result also improved slightly in spite of continued difficult market conditions in the Baltic countries. ICA Real Estate and ICA Bank continued their stable development despite slightly lower operating income during the first quarter."
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 2,200 of its own and retailer-owned stores in Sweden, Norway and in the Baltic States. The Group includes ICA Sweden, ICA Norway, Rimi Baltic and ICA Real estate. 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