Year-end report ICA AB 2006
Year-end report ICA AB 2006
Solna February 21, 2007
Strong net income for ICA Group in 2006 despite weak fourth quarter
? Net sales in 2006 amounted to SEK 67,395 million (66,096), an increase of 2.0 percent.
? Operating income for 2006 rose to SEK 2,297 million (1,940), an increase of 18.4 percent. Capital gains from real estate sales and impairment losses on fixed assets of SEK 588 million (75) are included in operating income. Excluding these items, operating income decreased by 8.4 percent. Income after tax from continued operations rose to SEK 2,034 million (1,520).
? Net income for 2006 amounted to SEK 2,401 million (1,518), an increase of 58.2 percent. The earnings impact from the sale of ICA Meny of SEK 367 million (–2) are included in net income.
? Fourth-quarter net sales amounted to SEK 17,631 million (17,784), a decrease of 0.9 percent.
? Fourth-quarter operating income amounted to SEK 358 million (601), a decrease of 40.4 percent. Operating income includes capital gains from real estate sales and impairment losses on fixed assets of SEK 377 million (–4). Operating income excluding these items decreased by SEK 624 million which among others is due to the negative development in ICA Norway and start-up and structural expenses for the new warehouse in Helsingborg of approximately 100 MSEK as well as other extra costs during the quarter. Income after tax from continued operations rose to SEK 459 million (446).
? Net income for the fourth quarter amounted to SEK 460 million (452), an increase of 1.8 percent.
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 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 2,300 of its own and retailer-owned stores in Sweden, Norway and in the Baltic States. The Group includes the sales companies ICA Sverige, ICA Norge, Rimi Baltic and Etos. 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