Challenging market situation
- Operating profit for the third quarter of 2022 (SEK 1,694 million) fell by 6.8% compared with the third quarter of 2021 (SEK 1,818 million).
ICA Gruppen's Q3 sales increased by 7.6% toSEK 34,533 million (32,094), driven by high inflation.- High inflation and rising energy costs are creating major challenges in all areas.
- Pressured margins especially in the grocery retail operations as a result of lower volumes and higher costs. ICA Sweden's margin for Q3 decreased to 4.7% (5.2%).
- Halving of earnings and considerably lower margin for Rimi Baltic as a result of extreme levels of inflation and energy costs.
- Apotek Hjärtat growing faster than the market, but with lower earnings and margin.
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Increase in revenue and earnings for
ICA Bank , includingICA Insurance . -
Stable quarter for
ICA Real Estate , with improved sales and earnings. -
Earnings include
SEK 300 million in capital gains on sales of properties inSweden .
Comments by
"From our side at ICA we need to work hard together with the ICA retailers to enable price value and competitive offerings to our customers to help make life easier in a tougher situation. The work with this is ongoing, but we have stepped up the pace considerably. This goes for how we will conduct promotional campaigns as well as focus on our private label products. Our "Stammis" loyalty programme in
For more information
icagruppen.se
This information is such that
https://news.cision.com/ica-gruppen-ab/r/ica-gruppen-s-interim-report-for-third-quarter-2022,c3656218
https://mb.cision.com/Main/7955/3656218/1644455.pdf
https://mb.cision.com/Public/7955/3656218/9844a5141a36fd82.pdf
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