ICA AB year-end report 2008
ICA AB year-end report 2008
Solna February 18, 2009
Increased sales but lower operating income in fourth quarter
Fourth quarter ? Net sales were SEK 24,131 million (22,139), up 9.0 percent compared to the same period last year. At constant exchange rates, net sales increased by 8.1 percent.
? Operating income excluding capital gains on property sales of SEK 111 million and impairment losses of SEK -120 million, was SEK 524 million (662), down 20.8 percent compared to the same period last year. Operating income, including capital gains and impairment losses was SEK 515 million (762), down 32.4 percent.
? Net income was SEK 430 million (598), down 28.1 percent compared to the same period last year.
Full year ? Net sales were SEK 90,963 million (82,326), up 10.5 percent compared to 2007. At constant exchange rates, net sales were up 9.6 percent.
? Operating income for the full-year, excluding capital gains on property sales of SEK 332 million and impairment losses of SEK -120 million, was SEK 1,905 million (2,006), down 5.0 percent compared to 2007. Operating income, including capital gains and impairment losses, was SEK 2,117 million (2,602), down 18.6 percent. ? Net income was SEK 1,728 million (2,166), down 20.2 percent compared to the same period last year.
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 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