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2020-10-23

ICA Gruppen AB: ICA Gruppen interim report Q3 2020

Third quarter 2020

  • Consolidated net sales increased by 5.3% to SEK 31,400 million (29,818)
  • Operating profit excluding items affecting comparability increased by 6.2% to SEK 1,698 million (1,599)
  • Consolidated sales and operating profit were affected by the continuing Covid-19 pandemic. ICA Sweden has benefited, while other segments have been negatively impacted. The estimated, overall earnings effect during the third quarter is approximately SEK -15 million
  • Profit for the period was SEK 1,302 million (1,202)
  • Earnings per share were SEK 6.45 (5.96)
  • Cash flow from operating activities, excluding ICA Bank, was SEK 1,752 million (2,342)
  • An Extraordinary General Meeting on 22 September resolved in favour of a dividend of SEK 6 per share, which is the second part of the year's total dividend of SEK 12 per share

Events after the end of the quarter

  • No events after the end of the quarter

From our sustainability report

ICA Gruppen's greenhouse gas emissions have decreased by 74% 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 its target of climate neutrality by reducing emissions in own operations by at least 70% by year-end 2020 and offset remaining emissions through climate compensation.

Comment from CEO Per Strömberg:

"During the third quarter we saw essentially the same pattern as in the preceding quarter - strong volume growth for ICA Sweden, while sales were weaker for Rimi Baltic and Apotek Hjärtat. In terms of earnings, however, Rimi Baltic had a strong quarter. The updated market appraisal of our property portfolio shows continued stable development."

Författare ICA Gruppen AB

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