ICA Real Estate sells shopping center in Norway
ICA Real Estate sells shopping center in Norway
Solna, May 14, 2009
Kiellands Hus Eiendom AS, which is 51 percent owned by ICA Eiendom Norge AS, has sold the Kiellands Hus shopping center to a German fund managed by Catella Real Estate AG Kapitalanlagegesellschaft. The purchase price is NOK 222.5 million.
The property consists of about 6,000 square meters of retail space and about 4,000 square meters of parking. The buyer is scheduled to take possession of the property on May 28, 2009.
The agreement will generate a profit gain for the ICA Group of NOK 40 million in the second quarter of this year.
"The sale of this property is in line with our strategy to sell fully developed properties," says Rolf Hansteen, CEO of ICA Eiendom Norge AS.
For further information, please contact: ICAs press hotline, 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 Sweden, ICA Norway 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 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 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 in 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 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 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 in 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 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 ICA-koncernen (ICA AB) är ett av Nordens ledande detaljhandelsföretag med cirka 2 230 egna och handlarägda butiker i Sverige, Norge och Baltikum. I gruppen ingår detaljhandelsbolagen ICA Sverige, ICA Norge och Rimi Baltic. ICA erbjuder också finansiella tjänster till de svenska kunderna genom ICA Banken. ICA AB är ett joint venture som ägs till 40 procent av Hakon Invest AB och till 60 procent av holländska Royal Ahold. Enligt aktieägaravtal har Royal Ahold och Hakon Invest ett gemensamt bestämmande inflytande i ICA AB. Genom Royal Ahold är ICA AB en del av ett internationellt detaljhandelsnät. Mer information finns på http://www.ica.se