Press release
Solna
5 June 2025
ICA Gruppen's report for the first four months shows a strengthened market position, while continuing investments in price adversely impacted earnings for ICA Sweden. The transaction with the Danish company Salling Group was completed on 2 June and the entire operations in the Baltic countries, Rimi Baltic, have now been divested.
- ICA Sweden grew faster than the market but reported a lower operating margin of 2.3% (3.5) compared with the same four-month period last year, largely due to ongoing price investments and costs for double bonus cheques for Stammis loyalty programme members that ICA introduced in the spring. The double bonus cheques were introduced to offset the rise in inflation driven by such factors as increases in the price of cocoa and coffee in the first four months of the year. ICA Sweden's operating profit excl. items affecting comparability amounted to SEK 859 million (1,195).
- Apotek Hjärtat increased its market shares for physical pharmacies in the four-month period, while the performance of online sales was weaker. At the end of the period, total growth for Apotek Hjärtat again outperformed the market. Apotek Hjärtat's profit excluding items affecting comparability for the four-month period was SEK 242 million (277) and the lower profit was mainly due to costs for a number of large and ongoing IT projects.
- ICA Bank including ICA Insurance posted an operating profit excluding items affecting comparability of SEK 179 million (142). Business volumes for ICA Bank grew during the period and credit losses were significantly lower, which strengthened earnings. ICA Insurance is continuing to gain market shares, but earnings were negatively affected by unfavourable claims outcomes.
- For the Group as a whole, net sales increased 5.5% in the first four months to SEK 45,234 million (42,864). Operating profit excluding items affecting comparability and IFRS 16 Leases declined to SEK 1,257 million (1,632), corresponding to an operating margin of 2.8% (3.8).
- The Group's profit for the period increased SEK 203 million to SEK 1,223 million (1,020). The increase was entirely related to earnings from discontinued operations (Rimi Baltic), which are included in profit for the period in the amount of SEK 362 million (-9), an increase of SEK 371 million.
- The divestment of Rimi Baltic to the Danish company Salling Group was completed on 2 June after securing the approval of the relevant authorities. This transaction will result in a reduction in debt for ICA Gruppen and thus enhanced financial capacity and flexibility to fully invest in the Swedish operations.
ICA Gruppen's CEO Nina Jönsson comments:
"During the first four months, ICA Sweden gained market shares and online sales performed favourably. However, earnings were weaker than last year. The reason for this is the ongoing price investments and the costs of double bonus cheques for Stammis members in the spring, an initiative we launched in response to the rise in inflation during the first four months of the year, caused by such factors as higher prices for coffee, cocoa and dairy products. It was gratifying that food prices started to fall again in April, down 0.2% from March according to Statistics Sweden's Consumer Price Index."
For more information
ICA Gruppen's press service, telephone number: +46 (0)10 422 52 52, e-mail: press@ica.se
Frans Benson, Head of Investor Relations, telephone number: +46 (0)8 561 500 57
icagruppen.se
ICA Gruppen AB (publ) is one of the leading retail companies in the Nordics with a focus on food and health. The Group includes ICA Sweden which mainly conducts grocery retail, ICA Real Estate which owns and manages properties, ICA Bank which offers financial services, ICA Insurance and Apotek Hjärtat which conducts pharmacy operations. In 2024, ICA Gruppen had a turnover of approximately SEK 135 billion. For more information, see icagruppen.se.
This is information that ICA Gruppen AB (publ.) is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:00 a.m. CEST on Thursday, 5 June 2025.
