Underlying earnings stable; higher costs from new ventures
Solna, Sweden, 2017-Aug-17 — /EPR Retail News/ —
Second quarter of 2017 in summary
- Consolidated net sales amounted to SEK 27,198 million (26,222), an increase of 3.7%
- Operating profit excluding non-recurring items totalled SEK 1,094 million (1,154)
- The sale of ICA Real Estate in Norway and inkClub, and costs ahead of the integration of the acquisition of IKI in Lithuania, affected operating profit excluding nonrecurring items by a combined total of SEK -53 million
- Profit for the period was SEK 1,021 million (829). Profit includes capital gains on sales of non-current assets and impairment losses totalling SEK 165 million net (-37)
- Earnings per share were SEK 5.06 (4.12)
- Cash flow from operating activities amounted to SEK 2,001 million (1,785). Excluding ICA Bank, cash flow was SEK 1,836 million (1,463)
- The sale of 12 properties to Secore Fastigheter was completed on 2 June, generating a capital gain of approximately SEK 150 million
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:
“We had stable underlying earnings during the second quarter, with Apotek Hjärtat – above all – posting a good quarter. Other businesses have been affected by divestments to varying degrees – particularly the sale of properties in Norway – as well as by ongoing activities and ventures. Higher costs have resulted in a slightly lower operating margin than a year ago, but with a high level of activity it is at the same time natural that there will be variations from quarter to quarter that affect earnings. In the long-term perspective we are on track to meeting our targets.”
Press and analyst meeting
ICA Gruppen is arranging a press and analyst meeting on Wednesday 16 August at 10.00 CET at Tändstickspalatset, Västra Trädgårdsgatan 15 in Stockholm. CEO Per Strömberg and CFO Sven Lindskog will present the interim report. The conference can also be followed at www.icagruppen.se/investerare.
To call in, please dial:
SE +46 8 5050 3050
UK +44 203 655 1001
Conference PIN: 1839741#
Calendar
10 November 2017 Interim report third quarter
14 December 2017 Capital Markets Day
8 February 2018 Year-end report 2017
This information is such that ICA Gruppen AB is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at time 07.00 CET on Wednesday, August 16, 2017.
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