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ICA Gruppen
ICA Gruppen (ICA) investor relations material
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ICA Gruppen Tertial 2 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Tertial 2 2026 summary30 Sep, 2026
Executive summary
Net sales for T2 2026 rose 5.0% year-over-year to SEK 51,070 million, driven by strong volume growth, especially in ICA Sweden and Apotek Hjärtat, with both segments gaining market share in-store and online.
Operating profit excluding items affecting comparability and IFRS 16 Leases increased 33.7% to SEK 2,543 million, reflecting efficiency improvements, cost savings, and property acquisitions.
Food prices at ICA stores fell more than the VAT reduction, supporting higher customer spend and volume growth.
Strategic property transactions, including the acquisition from Trecore and divestments to Delcore and Vendus, resulted in a net investment of SEK 0.5 billion and ICA Real Estate becoming a co-owner of Vendus.
After the period, ICA Sweden’s CEO announced his resignation, effective by February 2027.
Financial highlights
EBITDA for T2 was SEK 5,033 million, up 27.1% year-over-year.
Operating margin excluding items affecting comparability and IFRS 16 Leases improved to 5.0% from 3.9% a year earlier.
Profit for the period was SEK 2,387 million, up 67.4% year-over-year.
Cash flow from continuing operations increased by SEK 1,668 million to SEK 5,031 million, mainly due to higher earnings and positive working capital effects.
Net debt (excl. ICA Bank and IFRS 16 Leases) rose to SEK 8.5 billion, mainly due to property acquisitions.
Outlook and guidance
Investments for 2026 are expected to total SEK 6–7 billion, with SEK 4.5 billion allocated to ICA Real Estate.
The pace of investment in logistics, IT, and infrastructure will remain high to support future growth and efficiency.
The Group aims to maintain a net debt/EBITDA ratio below 2x and a return on capital employed above 10%.
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Latest events from ICA Gruppen
- Net sales rose 5.5% but operating profit fell 18.9% as price investments squeezed margins.ICA
Tertial 1 2025 - Strong sales growth and market share gains in T3, with profit boosted by Rimi Baltic divestment.ICATertial 3 2025
- Rimi Baltic divestment drove profit surge, but core Swedish operations saw margin pressure.ICATertial 2 2025
- Strong sales growth, improved margins, and lower net debt driven by volume and efficiency gains.ICATertial 1 2026
- Q3 2024 saw robust sales, higher profits, lower debt, and SBTi-approved net zero climate targets.ICAQ3 2024
- Q2 2024 saw strong sales growth, market share gains, and robust capital management.ICAQ2 2024
- Rimi Baltic sold for EUR 1.3bn, enabling strategic focus and reinvestment in Sweden.ICAInvestor update
- Strong sales growth, higher market shares, and lower net debt marked ICA Gruppen's 2024.ICAQ4 2024
Next ICA Gruppen earnings date
Tertial 3 20264 Feb, 2027
ICA Gruppen
Next ICA Gruppen earnings date
Tertial 3 20264 Feb, 2027
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Frequently asked questions
ICA Gruppen is a Swedish retail company founded in 1938. Their core business consists of grocery retail, pharmacy, and IT services to independent retailers. They have been on the market for more than 80 years and are one of Sweden’s leading retailers with approximately 2,400 stores and more than 66,000 employees. In total ICA Gruppen has more than 1,900 pharmacies; stores which now provide healthcare advice, instead of just medication. Their online platform for pharmacies, Apotek365, launched in February 2019 to make the home delivery process easier for consumers.