A turbulent 2022 - strong customer focus ahead of 2023
- The operating margin for
ICA Gruppen fell in Q4 2022 to 3.9% (4.0%). -
Operating profit for the fourth quarter of 2022 increased by 6.4%, driven by high inflation, to
SEK 1,382 million compared with the fourth quarter of 2021 (1,298). -
Q4 sales increased by 8.2% to
SEK 35,547 million (32,860), also driven by inflation. -
Drop in volume put pressure on earnings for
ICA Gruppen's grocery retail business and ICA Sweden's margin. Operating profit decreased by 12.0% toSEK 767 million during the fourth quarter compared with the same quarter in 2021. The margin for Q4 decreased to 3.1% (3.7%). - On 9 December ICA Sweden announced an efficiency improvement programme, which will initially entail the elimination of approximately 200 positions.
- Rimi Baltic showed very strong performance during the fourth quarter.
- Apotek Hjärtat continued to take market shares. Higher costs led to a decrease in earnings, however.
ICA Bank's business volume (includingICA Insurance ) continued to grow, but fourth quarter earnings were affected by higher loan losses.-
Just before
Christmas ICA Real Estate announced two real estate transactions. A new, jointly owned company is being formed with Alecta, and two logistics properties are being sold to Catena.
Comments by
"We leave behind a year that has been exceptionally turbulent. From having high hopes as the pandemic receded to a devastating war in our neighbourhood, which has had dramatic consequences on the entire economy, on
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