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2022-04-28

ICA Gruppen AB: ICA Gruppen's interim report for first quarter 2022

Stable business and important progress despite turbulent time

  • ICA Gruppen's Q1 sales increased by 3.2% to SEK 31,595 million (30,602).
  • On the whole, operating profit excl. items affecting comparability for the first quarter of 2022 (SEK 1,276 million) was slightly stronger than for the first quarter of 2021 (SEK 1,264 million).
  • Strong improvement for Apotek Hjärtat, but ICA Real Estate and ICA Bank also posted stronger earnings.
  • Slightly lower earnings for ICA Sweden, mainly owing to start-up costs coupled to e-commerce operations.
  • Rimi Baltic's earnings decreased, owing to lingering pandemic effects and higher competition in the market.
  • The new e-commerce warehouse in Brunna is now up and running, marking a significant milestone on the path to offering Sweden's leading online solution for grocery shopping.
  • ICA Real Estate's formation of a new joint venture, Trecore, together with Bonnier Fastigheter, and ICA Bank's continued launch of new home mortgages are other important areas of progress.
  • Inflation pressure growing in the market.

Comments by ICA Gruppen's CEO, Per Strömberg:

"Just as the global pandemic has begun ebbing, the world has been cast into new uncertainty and human suffering with the devastating war in Ukraine. The consequences are not easy to sum up, but for the grocery retail industry, in the near term we can expect higher sourcing costs as a result of supply chain disruptions that the war is causing. All the while, our operations moved forward with progress in a number of key areas. Our new, automated e-commerce warehouse in Brunna, outside Stockholm, was inaugurated, and the move from the former warehouse was concluded.

"In a time such as this our double societal responsibility is extra clear. On the one hand, we are doing everything we can to provide the best possible price value for our customers. At the same time we must contribute to ensuring a long-term sustainable food supply. At the very core it's a matter of safeguarding the strength of Swedish agriculture and stable domestic food production. In this respect, as a major actor we have a key role to play and a great responsibility to bear."

For more information
ICA Gruppen press service, telephone number: +46 (0)10 422 52 52
Frans Benson, Head of Investor Relations, telephone number: +46 (0)8 553 399 01

icagruppen.se

This information is such that ICA Gruppen AB is obligated to make public in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication by the contact person above at 07.00 CET on Thursday, 28 April 2022.

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