ICA's Annual Report Including the Corporate Responsibility Report For
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ICA’s Annual Report including the Corporate Responsibility Report for 2008 This is ICA President’s statement 2 What makes ICA unique? 6 ICA’s strengths 8 Goals and strategies 10 “Good Business” for customers 12 “Good Business” for stores 20 “Good Business” for the ICA Group 26 ICA Sweden 33 ICA Norway 34 Rimi Baltic 35 ICA Bank 36 Annual Report Corporate Governance Report 38 Financial reports in 2009 Directors’ Report 44 Interim report January – March May 6 Defi nitions of key fi nancial ratios 46 Interim report January – June August 19 Consolidated Income statement 49 Interim report January – September November 4 Consolidated Balance Sheet 50 Financial information is also available at Changes in Consolidated Shareholders’ www.ICA.se > About ICA Equity 52 Consolidated Statement of Cash Flows 53 Contact Supplementary Information, the Group 54 Madelene Gummesson Parent Company Income Statement 67 Manager Financial Communication Parent Company Balance Sheet 67 Telephone: +46 8 561 505 83 Changes in Parent Company’s [email protected] Shareholders’ Equity 69 Parent Company Statement of Cash Flows 69 Supplementary Information, Parent Company 70 Audit Report 74 Corporate Responsibility Report Contact Overview 76 Lisbeth Kohls Management approach 77 Senior Vice President Corporate Responsibility Environment 80 Telephone: +46 8 561 502 12 Society 85 [email protected] Human rights 85 Product safety 87 Healthy living 89 Employees 90 Community engagement 91 Economic development 93 GRI content index 94 Glossary and abbreviations This is ICA The ICA Group is one of the Nordic region’s ICA’s values leading retail companies, with around 2,230 At ICA, a commitment to environmental work and com- of its own and retailer-owned stores in Swe- munity engagement go hand in hand with long-term pro- den, Norway and the Baltic countries. The fi tability. ICA’s customers and other stakeholders should Group includes ICA Sweden, ICA Norway and feel secure and have confi dence in ICA and its busines- Rimi Baltic, as well as ICA Bank, which offers ses. To describe its corporate responsibility, ICA has coi- fi nancial services to Swedish customers. ICA ned the term “ICA’s Good Business,” which means that AB is a joint venture 40 percent owned by ICA will: Hakon Invest AB and 60 percent by Royal · be driven by profi tability and high ethical standards Ahold N.V. · listen to customers and always base its decisions on their needs Vision We make every day a little easier. · nurture diversity and growth among employees Mission To be the leading retailer with a · maintain an open dialogue internally and with the focus on food and meals. community · ensure quality and safe products · promote a healthy lifestyle · adopt sound environment practices to promote sustainable development Distribution by subsidiary Store formats Sales % ICA Sweden ICA Nära ICA Supermarket ICA Kvantum 1. ICA Sweden 62.6 Format: Small, convenient stores Format: Wide assortment for eve- Format: Designed to be the leading with good service, a narrow pro- ryday meals or special occasions. local supermarket, with foods for 2. ICA Norway 22.3 duct range and quality fresh foods. Personal service is high, and the everyday, weekends and special 3. Rimi Baltic 13.9 Many serve as pick-up sites for stores carry a wide range of fresh occasions. Offer a variety of fresh 4. ICA Bank 0.6 Apoteket and Systembolaget, the foods. foods, alternatives for allergy suf- state-run pharmacy and alcohol Form of agreement: Independent ferers, healthy and organic choices, 5. Other 0.6 monopolies, and handle sales for retailers with ICA agreements. and local products. Total 100 ATG, the Swedish off-track betting Form of agreement: Independent service. retailers with ICA agreements. Operating income SEK m Form of agreement: Independent 1. ICA Sweden 2,644 retailers with ICA agreements. 2. ICA Norway –520 3. Rimi Baltic 182 ICA Norway ICA Nær ICA Supermarked ICA Maxi 4. ICA Bank 111 Format: Small convenience stores Format: A passion for good food Format: Everything in one location. 5. Other –300 offering good service, a specially and diversity, personal service and A wide selection of foods combi- designed product selection and lo- a wide selection. ned with non-foods. Convenient Total 2,117 cal choices. Form of agreement: Branch for drivers and transports. Number of employees Form of agreement: About 40 per- Form of agreement: Branch cent are branches and 60 percent 1. ICA Sweden 5,208 are franchises. 2. ICA Norway 4,826 3. Rimi Baltic 9,870 4. ICA Bank 234 Rimi Baltic SuperNetto (Latvia, Lithua- Rimi Supermarket Rimi Hypermarket and 5. Other 1,885 nia), Säästumarket (Estonia) Format: Wide selection for food lo- Rimi Compact Hypermarket. Total 22,023 Format: Discounters that emphasi- vers with an emphasis on fresh Format: Everything under one roof ze price and a wide selection of foods and good service for every- at good prices. Wide selection of everyday items. day needs. Located close to where fairly priced foods, combined with Form of agreement: Branch customers live or work. non-foods such as house wares and Form of agreement: Branch sporting goods. ICA Bank Mission: To make life a little easier for ICA’s customers Business volume 2008: SEK 16,363 million through its fi nancial services and increase their loyalty (14,728 million) to ICA. Deposits 2008: SEK 8,683 million (7,509) ICA Real Estate’s operations are included in ICA Sweden and ICA Norway. From January 2009, ICA Real Estate is reported as a separate segment. 2008 in brief • The ICA Group’s net sales amounted to SEK 90,963 million (82,326), an increase of 10.5 percent compared with 2007. • Operating income amounted to SEK 2,117 million (2,602), a decrease of 18.6 percent compared with 2007. • The operating margin was 2.3 percent, a decrease from 3.2 percent in 2007. Net sales (SEK m) Operating income (SEK m) Income after net fi nancial Operating margin (%) items (SEK m) 3.5 90,963 2,282 2,602 82,326 2,046 2,297 73,334 1,794 71,663 2,117 1,741 67,395 1,671 1,977 1,958 3.0 2.5 2.0 04 05 06 07 08 04 05 06 07 08 04 05 06 07 08 04 05 06 07 08 Maxi ICA Hypermarket Number of stores* Store sales in Sweden Format: Everything at good prices Form of agreement: Independent under one roof. Wide variety of retailers with ICA agreements for ICA Nära 732 ICA Nära SEK 13,547 m foods and non-foods such as house food sales as well as separate wares, sporting goods and garden branch operations, Maxi Special ICA Supermarket 454 ICA Supermarket SEK 28,809 m supplies. Extended opening hours, AB, for non-food departments. ICA Kvantum 117 ICA Kvantum SEK 21,365 m convenient for drivers. Maxi ICA Stormarknad 66 Maxi ICA Stormarknad SEK 22,707 m * Including retailer-owned stores Rimi Number of stores* Store sales in Norway Format: Discount stores that make Form of agreement: About half of it easy and convenient for custo- the stores are managed as bran- ICA Nær 278 ICA Nær NOK 4,550 m mers to do their daily shopping. ches and half are franchises. ICA Supermarked 79 ICA Supermarked NOK 4,748 m Modern, airy stores designed for families, with everyday products ICA Maxi 26 ICA Maxi NOK 3,001 m at low prices. Rimi 253 Rimi NOK 7,698 m * Including franchise stores Rimi Compact Hypermarket emp- Number of stores Store sales in the Baltics hasizes atmosphere, comfort and Estonia 74 Estonia EUR 391 m effi cient use of space. Accessible by car with generous store hours. Latvia 97 Latvia EUR 642 m Form of agreement: Branch Lithuania 62 Lithuania EUR 276 m Number of ATMs 2008: 136 (105) Number of payment terminals 2008: Sweden 6,300 (6,000), Norway 2,000 (0) CUSTOMERS ICA GROUP STORES “Good Business” generates good business Good business begins with satisfi ed customers. That’s something you learn if you help millions of people a day to make their lives a little easier. At ICA, customers can always feel secure in knowing that they will get a good deal – in several different ways. They will fi nd value for the money, high-quality products and service to fi t their needs. What’s more, customers will fi nd inspiration to eat well and healthier. Without question, they can also feel secure in know- ing that ICA is working long-term with major corporate responsibility issues, such as social responsibility and the environment. The stores should also be a good business. In Sweden, the ICA stores are run according to the successful model of independent retailers. In Norway and the Baltics, the stores are wholly owned or run as franchises. Regardless of how it is run, the store is where relationships with customers are built and the foundation for success is laid. The stores should, of course, be a source of good business in the form of sound fi nances, as well as from a local perspec- tive. The stores often have a strong local connection and are positive contributors to the community. Lastly, ICA should be a good business for its owners. Hakon Invest, which is publicly listed in Sweden, and the Dutch ICA ANNUAL REPORT 2008 REPORT ICA ANNUAL public company Royal Ahold, which share ownership infl uence over ICA, should naturally receive a satisfactory return on their capital. Good business is also important for ICA to continue to reinvest wisely in the sustainable development of its stores, selections and products.