• Consolidated net sales increased 6.8% in the fourth quarter to SEK 40,879 million (38,273). Operating profit excluding items affecting comparability and IFRS 16 was SEK 1,405 million (1,327), corresponding to an operating margin of 3.4% (3.5).
• ICA Sweden performed well with increased volumes driven by a higher number of customer visits and increased market shares for the ICA stores. In parallel, the price investments made by ICA Sweden in the form of reduced prices to ICA retailers for certain basic items resulted in a lower operating margin of 3.2% (3.6). Operating profit excluding items affecting comparability amounted to SEK 926 million (971), and was thus down on last year, in particular with regard to the structural costs of SEK 170 million included in profit for the previous year.
• Rimi Baltic ended the year very strongly, where, among other measures, effective campaigns led both to higher market shares and to significantly higher earnings. Operating profit excl. items affecting comparability amounted to SEK 246 million (138).
• Apotek Hjärtat delivered another strong quarter with increased market shares and profit excluding items affecting comparability of SEK 187 million (171).
• ICA Bank including ICA Insurance posted an operating profit of SEK 77 million (99). ICA Insurance’s premium income continued to develop positively, but an unfavourable claims outcome with a few large claims during the quarter led to lower overall earnings which amounted to SEK -26 million (profit: 9). Excluding the insurance company, the bank’s profit increased SEK 13 million.
• Emissions from own operations decreased 16% in the full-year 2024 to 82,441 (tonnes CO2e). During the year, the largest emission reductions arose from the transition to more fossil-free transportation, including reaching ICA’s goal of only using fossil-free goods transport in the three largest cities by 2025.
  
  

ICA Gruppen’s CEO Nina Jönsson comments

“To sum up, this has been an eventful year with challenges as well as important progress. Our investment in better everyday prices, especially for fruit & vegetables, has had clear results when it comes to countering price inflation and strengthening ICA’s pricing. This is work that we will pursue with full force in 2025. Our excellent performance in 2024 is something we are proud of. Stable growth and good profitability are basic preconditions for everything else.

But we are, perhaps, even more proud of our social impact. Close to 60,000 people work in ICA’s various operations or at ICA stores. Few other companies, if any, directly or indirectly create more jobs in the Swedish labour market. In 2025, ICA will open in Älvkarleby, at which point we will have a presence in 287 of Sweden’s 290 municipalities. This is important. ICA is present in people’s everyday lives – when they buy food, collect medicines or pay at the checkout.”

From 1 January 2025, ICA Gruppen will change to four-monthly reporting.

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

ICA Gruppen AB (publ) is one of the leading retail companies in the Nordic countries with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic, which mainly conduct grocery retail, ICA Real Estate, which owns and manages properties, ICA Bank, which offers financial services, ICA Insurance, and Apotek Hjärtat, which conducts pharmacy business. ICA Gruppen had sales of approximately SEK 157 billion in 2024.

This information is such that ICA Gruppen AB is obligated to make public in accordance with the Swedish Securities Market Act. The information was submitted for publication by the contact person above at 07.00 CET on Wednesday, 5 february 2025.