ICA AB year-end report 2009
ICA AB year-end report 2009
Solna 17 February, 2010
Strong operating income for the ICA Group 2009
Fourth quarter ? Net sales for the fourth quarter amounted to SEK 24,597 million (24,131), an increase of 1.9 percent. At constant exchange rates, net sales were up 0.1 percent.
? Operating income amounted to SEK 929 million (515), an increase of 80.4 percent. Operating income excluding capital gains on property sales of SEK 9 million (111) and reversed impairment losses on fixed assets of SEK 72 million (-120) amounted to SEK 848 million (524), up 61.8 percent. ? Income after net financial items amounted to SEK 850 million (415), an increase of 104.8 percent. ? Net income for the fourth quarter amounted to SEK 527 million (430), an increase of 22.6 percent.
Full-year ? Net sales for the full-year amounted to SEK 94,651 million (90,963), an increase of 4.1 percent. At constant exchange rates, net sales were up 1.8 percent.
? Operating income amounted to SEK 2,713 million (2,117), an increase of 28.2 percent. Operating income excluding capital gains on property sales of SEK 121 million (332) and the net of reversed and recognized impairment losses on fixed assets of SEK 9 million (- 120) amounted to SEK 2,583 million (1,905), up 35.6 percent. ? Income after net financial items amounted to SEK 2,309 million (1,794), an increase of 28.7 percent ? Net income for the full-year amounted to SEK 1,587 million (1,728), down 8.2 percent. The decrease is due to higher tax expenses.
Extract from CEO comment – Kenneth Bengtsson, CEO and President ICA AB: "The ICA Group delivered a strong operating result in 2009 despite the impact from global recession. The strong result was mainly due to the positive performance of ICA Sweden. ICA Norways reduced loss also contributed to the Groups improved result. ICA Bank and ICA Real Estate are both stable operations that developed well during the year. Rimi Baltics operating income fell however as a result of the major economic slowdown in the Baltics, but it still managed to gain market share and strengthen our market position during the year."
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 2,220 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