Solna, Sweden, 2017-May-11 — /EPR Retail News/ — Solid results in a weaker market.
First quarter of 2017 in summary
- Consolidated net sales amounted to SEK 24,984 million (24,761), an increase of 0.9%
- Operating profit excluding non-recurring items totalled SEK 996 million (959).
- Profit for the period was SEK 1,132 million (735). Profit includes capital gains on sales of non-current assets and impairment losses totaling SEK 399 million net (17)
- Earnings per share were SEK 5.61 (3.65)
- Cash flow from operating activities for continuing operations amounted to SEK -51 million (398). Excluding ICA Bank, cash flow was SEK 492 million (531)
- The sale of properties in Norway was completed on 1 February, generating a capital gain of approximately SEK 400 million
After the end of the quarter
- On 7 April the Annual General Meeting voted in favour of the Board’s proposed dividend of SEK 10.50 per share
- Anette Wiotti was elected by the Annual General Meeting as a new board member and replaces Peter Berlin, who declined re-elections
Comment from the CEO of ICA Gruppen, Per Strömberg:
“The first quarter looked roughly like the end of last year – a slightly more tentative market with weak volume development in which a comparatively large share of sales growth was price-driven. The fact that Easter falls in April this year and February 2016 included a leap day makes it a bit difficult to have an exact idea of the market’s development, but we believe our sales are well in line with the market. As for earnings, we are in line with our financial targets and have stable margins, which we are satisfied with.”
For further information, please contact:
Head of Investor Relations
tel. +46 8-561 500 20
ICA Gruppen press service
Tel +46 10 422 52 52
Press and analyst meeting
ICA Gruppen is arranging a press and analyst meeting via conference call, on Tuesday 9 May at 10.00 CET. CEO Per Strömberg and CFO Sven Lindskog will present the interim report. The conference can be followed at www.icagruppen.se/investerare.
To call in, please dial:
SE +46 8 5050 3050
UK +44 203 655 1001
Conference PIN: 8023887#
16 August 2017 Interim report second quarter
10 November 2017 Interim report third quarter
8 February 2018 Year-end report 2017
This is information that ICA Gruppen AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on Tuesday, May 9, 2017.
SOURCE: ICA Gruppen