ICA Group’s interim report January-March 2012

Solna, Sweden, 9 May, 2012

Strong first quarter for the ICA Group

First quarter 2012

• Net sales for the first quarter amounted to SEK 23,309 million (21,885), up 6.5 percent. At constant exchange rates net sales increased by 5.8 percent.
• Operating income amounted to SEK 681 million (490), up 39.0 percent. Operating income excluding capital gains and impairments amounted to SEK 675 million (490), up 37.8 percent.
• Income after net financial items amounted to SEK 615 million (422).
• Net income for the first quarter amounted to SEK 438 million (254).

Extract from CEO comment – Per Strömberg, CEO ICA AB:

“I am pleased to announce a strong interim report with a net sales increase in the first quarter of 5.8 percent at constant exchange rates as well as an improvement in operating income of 39 percent compared to the same period last year. The main reasons for this were improvements in Norway and the Baltic countries. Easter came earlier this year compared to 2011, which affected sales and income in a positive direction, especially for ICA Sweden. At the same time, I know there is room for improvement in various parts of the Group, and I am now devoting all my energy to get to know our businesses so that Group Management and I together can formulate a strategy for ICA going forward.”

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:

Per Strömberg, CEO, ICA AB, phone: +46 10-422 50 05

ICA’s press office, phone +46 70-253 66 60

The ICA Group (ICA AB) is one of the Nordic region’s leading retail companies, with around 2,100 of its own and retailer-owned stores in Sweden, Norway and the three Baltic states. The Group includes retail companies ICA Sweden, ICA Norway and Rimi Baltic; ICA Real Estate, which owns and manages properties; and ICA Bank, which offers financial services to Swedish customers. 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 www.ica.se