ICA Gruppen announces Q3 FY2016 financial results

Solna, Sweden, 2016-Nov-09 — /EPR Retail News/ — Favourable earnings and higher market shares

Third quarter of 2016 in summary

  • Consolidated net sales amounted to SEK 25,752 million (25,517), an increase of 0.9%
  • Operating profit excluding non-recurring items totalled SEK 1,376 million (1,321). Operating profit for the comparison period included costs of SEK 52 million associated with the acquisition and integration of Apotek Hjärtat
  • Profit from continuing operations (ICA Gruppen excl. ICA Norway) was SEK 1,049 million (979). Profit includes capital gains on sales of non-current assets and impairment losses totalling SEK 20 million, net (-43)
  • Earnings per share for continuing operations were SEK 5.21 (4.83)
  • Cash flow from operating activities for continuing operations amounted to SEK 550 million (955). Excluding ICA Bank the cash flow was SEK 1,045 million (624)

After the end of the quarter

  • No significant events have taken place after the end of the quarter

Comment from the CEO of ICA Gruppen, Per Strömberg: “Compared with the market, we had good growth in our store sales during the third quarter. At the same time, in Sweden we saw clearly lower food price inflation and a significantly lower rate of growth in the market during the summer. Most of our businesses are showing improved earnings and have stable or growing margins. We are pleased with this, especially in view of the slightly higher level of costs we have in many parts of the Group for ongoing future investments.”

Press and analyst meeting

ICA Gruppen is arranging a press and analyst meeting at Tändstickspalatset, Stockholm, on Wednesday, 9 November 2016 at 10.00 CET. CEO Per Strömberg and CFO Sven Lindskog will present the interim report. The meeting will be webcast and can be followed at www.icagruppen.se/investerare.

There is also an opportunity to call in on tel.

SE: +46856642695
UK: +442030089801

Calendar:

15 December 2016                Capital Markets Day

8 February 2017                    Year-end report 2016

7 April 2017                            Annual General Meeting

9 May 2017                             Interim report first quarter

16 August 2017                      Interim report second quarter

10 November 2017               Interim report third quarter

This information is such that ICA Gruppen AB is obligated to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication at time 07.00 CET on Wednesday, November 9, 2016.

For further information, please contact:

Frans Benson
Head of Investor Relations
tel. +46 8-561 500 20
ICA Gruppen press service
Tel +46 10 422 52 52

Source: ICA Gruppen