ICA Gruppen (ICA) Investor Update summary

Transaction overview

• Signed agreement to divest all shares in Rimi Baltic to Salling Group at an enterprise value of EUR 1.3 billion, with EUR 0.5 billion in debt included in the transaction.

• Expected capital gain is around SEK 7 billion, with a positive cash flow effect of approximately SEK 9 billion.

• The divestment includes all stores, warehouses, logistics centers, online business, and trademarks, with no remaining operations in the Baltics.

• Transaction closing is subject to approval by European and Lithuanian authorities.

Strategic rationale

• Decision driven by a desire to focus exclusively on Swedish operations and strengthen core businesses.

• No ambition to expand outside Sweden; funds will be used to develop offerings for Swedish customers.

• The timing is based on strategic fit and opportunity, not due to competitive pressure or recent market changes.

Rimi Baltic performance and market position

• Rimi Baltic had 2024 net sales of EUR 1.9 billion and an EBIT of EUR 74 million, with a 3.9% operating margin.

• Operated 315 stores with around 11,000 employees and a 13% market share, being the second largest player in the Baltics.

• Sales grew over 4% annually in the last decade, with EBIT growth averaging nearly 6%.