ICA Gruppen (ICA) investor relations material

Executive summary

• Strong sales growth and increased market share, especially in ICA Sweden and Apotek Hjärtat, with volumes up across all businesses year-over-year.

• Food prices in stores fell 5.53% in April, driven by a halved VAT on food and additional price investments, benefiting customers beyond the VAT reduction.

• Continued investments in infrastructure, IT, and logistics, with a focus on efficiency and customer value.

• Social responsibility initiatives expanded, including job market integration and mental health support.

Financial highlights

• Net sales for T1 2026 were SEK 47,761 million, up 5.6% year-over-year.

• Operating profit before depreciation and amortisation (EBITDA) was SEK 3,635 million, up 10.9% year-over-year.

• Operating profit excluding items affecting comparability and IFRS 16 Leases was SEK 1,368 million, up 8.8% year-over-year.

• Profit for the period from continuing operations was SEK 932 million, up SEK 71 million year-over-year.

• Cash flow from continued operating activities (excl. ICA Bank) was SEK 1,691 million, down SEK 278 million year-over-year due to working capital trends.

Outlook and guidance

• Full-year 2026 investments expected to slightly exceed SEK 5 billion, with SEK 3 billion allocated to ICA Real Estate.

• Cautious optimism for Swedish household finances, but geopolitical risks and energy prices could impact food prices later in the year.

• Continued focus on price competitiveness, efficiency, and sustainability to support customers amid uncertainty.