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2020-08-19

ICA Gruppen AB: ICA Gruppen interim report Q2 2020

  • Consolidated net sales increased by 4.6% to SEK 31,924 million (30,529)
  • Operating profit excluding items affecting comparability increased to SEK 1,452 million (1,365)
  • Consolidated sales and operating profit were affected by the ongoing Covid-19 pandemic. ICA Sweden has benefited, while other segments have been negatively impacted. The overall earnings effect during the second quarter is estimated to be in the range of SEK -60 million
  • Profit for the period was SEK 976 million (520). Profit for the corresponding period a year ago included a capital loss of SEK 382 million on the sale of Hemtex
  • Earnings per share were SEK 4.83 (2.56)
  • Cash flow from operating activities, excluding ICA Bank, was SEK 2,911 million (3,047)

Events after the end of the quarter

  • Decision made to summons an Extraordinary General Meeting on 22 September to address the Board's proposal for payment of a dividend of SEK 6 per share in addition to the first dividend payment of SEK 6 per share what was made in April 2020

From our sustainability report

ICA Gruppen's greenhouse gas emissions have decreased by 71% on a rolling 12-month basis compared with the base year 2006. Emissions decreased during the reporting period due to a gradual increase in the use of refrigerants with a lower climate impact in stores and a switch to renewable electricity by Rimi Baltic. Greenhouse gas emissions are decreasing steadily, and the trend indicates that ICA Gruppen will reach the target to reduce emissions in own operations by 70% by year-end 2020. Remaining emissions will be climate-offset in 2021.

Comment from CEO Per Strömberg:

"The ongoing pandemic continues to impact the market, customer behaviours and thus all aspects of our business. The impacts are varied however, and while ICA Sweden is benefiting from the situation with higher sales and earnings, Apotek Hjärtat and Rimi Baltic in particular had a considerably tougher quarter. The very high growth for e-commerce continues to accelerate."

Författare ICA Gruppen AB

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