ICA Gruppen: Strong performance during a volatile 2021

Stockholm / SE. (ica) Sweden’s ICA Gruppen AB in February announced a strong performance during a volatile year 2021. CEO Per Strömberg: «We can now sum up the full year 2021 – a year characterised by continued volatile markets, but for which we can show favourable performance for our businesses. Important steps have been taken in our future-oriented projects, and given the conditions, sales and earnings performance were favourable for the various parts of the Group. In addition, we succeeded in maintaining the operating margin at the same high level as in 2020.»

«The sustainability issue is growing increasingly important in our real estate operations, and extensive work is in progress to reduce the environmental and climate impacts both from existing properties and from new construction. In this regard, several of our ongoing projects meet the highest standards for sustainability. We can also note that we have concluded our first year with our new climate targets, and our journey to net zero emissions by 2030 is under way. During 2021 we reduced our emissions of CO2 equivalents by 14% from 2020.»

Summary of ICA Gruppen’s volatile year

  • Continued strong earnings performance for Apotek Hjärtat and higher market share
  • Stable earnings for Rimi Baltic in challenging market
  • ICA Bank launches home mortgages and improves earnings
  • ICA Sweden – start-up of automated e-commerce warehouse in Stockholm
  • ICA-handlarnas Förbund and AMF make public acquisition offer to ICA Gruppen’s shareholders

Fourth quarter 2021 Highlights

  • Consolidated net sales increased by 0.8% to SEK 32,860 million (32,593)
  • Operating profit excluding items affecting comparability decreased to SEK 1,298 million (1,371)
  • Profit for the period was SEK 1,043 million (919). This includes the net result of divestments and impairment losses, totaling SEK +6 million (-47)
  • Earnings per share were SEK 5.16 (4.54)
  • Cash flow from operating activities, excluding ICA Bank, was SEK 2,379 million (3,772)

Events after the end of the fourths quarter

  • ICA Gruppen shares delisted – last day of trading 13 January 2022
  • Voluntary repurchase offer to holders of outstanding Notes
  • Extra general meeting on 03 February 2022

ICA Gruppen publishes annual report 2021

ICA Gruppen published its annual report 2021 on 25 February. The annual report, which also includes ICA Gruppen’s sustainability report, is available as a downloadable PDF document.

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