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ICA Gruppen Equity Story a Stable Foundation for Continued Profitable Growth

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ICA Gruppen Equity Story a Stable Foundation for Continued Profitable Growth ICA Gruppen Equity story A stable foundation for continued profitable growth #1 #2 #3 #4 #5 Leading Unique Strong financial Capacity to Extensive positions and business model position and invest to capture digital strong brands in Sweden stable returns new opportunities agenda ICA Gruppen has Grocery retail business in A stable business and a Strong operational Ambitious agenda to leading market positions Sweden combines market strong financial position cashflows and scale reduce cost and capture in grocery retail and leading scale with local provides attractive returns enables investments in additional synergies pharmacy supported by knowledge and for shareholders. innovation, digitalisation through digitalisation. very strong brands. entrepreneurship through and infrastructure. independent retailers. 2 Leading positions and strong brands Our vision: • A leading retail company • Supporting businesses, We make everyday a little easier focused on food and health profitable in their own right and providing synergies to the core • A synergistic group structure where each part contributes • 2019 total sales: SEK 119bn of to the whole which ICA Sweden: SEK 85bn Grocery retail market Grocery retail with leading # 2 pharmacy chain • Core business in grocery retail • 2019 Operating profit: leader in Sweden positions in in Sweden – leading positions both online SEK 5.4 bn Estonia, Latvia & Lithuania and offline in Sweden under • Share listed on Nasdaq 1,277 36% 277 15% 390 31% the ICA brand and strong Stockholm (Large Cap) Stores Market share Stores Market share Stores Market share position in the Baltics under 85,187 3,712 16,168 744 14,778 464 the Rimi brand Net sales EBIT Net sales EBIT Net sales EBIT Ambitious Long-term sustainability targets financial targets ICA Real Estate - supports ICA Sweden’s ICA Bank - full-service bank and • Climate-neutral operations by 2020 Growth faster than the market store network insurance offering • Cut food waste in half by 2025 EBIT margin: Dividend payout ratio: Real estate portfolio – book value SEK 15.4 bn, >800 000 >170 000 • Best at helping consumers make 4.5% >50% estimated market value SEK 21.3 bn. Bank customers Insurance customers healthy choices by 2020 ROCE: Net debt/EBITDA: 2,731 504 1,570 244 • Socially audited and quality certified Net sales EBIT Net sales EBIT corporate brand suppliers 7.5% <3 SEK million. All figures as of end 2019. Real estate BV & MV as per Q3 2019 3 Unique business model in Sweden • A unique business model where independent retailers own their Combining local entrepreneurship with scale advantages… stores and decide on assortment and pricing. Founded in 1917 and a major success factor for ICA over the past century. Still unique and Goods and services relevant External Sweden Independent External • ICA Sweden – wholesale sales to suppliers ICA retailers suppliers (>10 000) the retailers while also offering Wholesale margin 19% supporting services, such as e- Royalty 81% • Purchasing • Approx. 1,500 retailers in of goods commerce fulfilment, central of goods • Assortment & private Profit sharing Sweden operating almost marketing and payment solutions label development Cost coverage 1,300 stores • Format & business • Independent store development companies with their own • ICA Sweden also responsible for • Marketing & market analysis P/L and B/S store network planning, initial • E-commerce solutions • Store network planning, Non-food • Set their own prices and financing & retailer recruiting financing & retailer recruiting (MAXI Special) assortment Customers • Logistics • Free to purchase from • Operational support other suppliers (today • Four different store formats ~80% from ICA Sweden) – ICA Maxi – ICA Kvantum Commitment – ICA Supermarket Brand Entrepreneurship – ICA Nära Scale Local market Efficiency knowledge A strong, locally adapted + = customer offering 4 Strong financial position and stable returns with the capacity to invest to capture new opportunities Attractive historical return Since formed in 2013, ICA Leading positions and …generating a solid cash flow and a …that allows us to capture Gruppen has gradually increased strong brands… stable financial performance… opportunities – both online and offline its ordinary dividend while also managing to maintain a high level of investment. The Group’s • ICA – a market leader in grocery retail • Supports core business development • Digitalisation of retail requires large upfront financial targets include providing in Sweden and one of Sweden’s best- • Funds growth projects investments in infrastructure, systems and known brands competences – scale matters a dividend of at least 50% of profit • Enables stable return for the for the year. The target reflects • Rimi Baltic – strong retailer positions in shareholders. • Growth in online sales outperforming ICA Gruppen’s stable earnings Estonia, Latvia and Lithuania. #1 in average online market growth and is to be at a competitive level Latvia for the sector. • Apotek Hjärtat – the second largest company in the Swedish pharmacy Dividend per share and market Cash flow from operations Online growth dividend yield • ICA Real Estate has a large and 10000 60 60% actively managed property portfolio 50 50% within the retail segment – 8000 40 40% AUM ~SEK 20 bn 6000 30 30% • ICA Bank – >800,000 customers 4000 20 20% and a vital part of the ICA system 2000 10 10% 0 0 0% 2016 2017 2018 2019 2016 2017 2018 2019 Cash flow from operations, MSEK Online market growth ICA Online growth Cash flow per share, SEK Excluding ICA Bank, IFRS16 5 Extensive digital agenda – focus on four areas E-commerce & omni channel Digital ecosystem Personalized & digital marketing Process automation • ICA: Increased capex spend on • ICAx has launched two services and has a • Scaling up personalisation across • Reduces labour costs and e-commerce infrastructure with back-end strong pipeline in five areas: shopping channels through new loyalty program increases quality and speed systems and e-commerce warehouse. journey, health, sustainability, simplifying (Costumer Loyalty 2020) • Machine learning to optimise performance Ocado-powered CFC to open in 2022. life, and household economy • Large volume of customer data of pricing, assortment planning, etc • Rimi Baltic: Launch of online shopping in 2019/2020 • Apotek Hjärtat: A broader offering and faster deliveries • Aim to significantly improve last mile offer in major cities Key digital initiatives ICA online 2019 Apotek Hjärtat online 2019 AI & Data centre of excellence Ocado deal signed Total Online share Online share Growth in sales Online total Online market Apotek Hjärtat First ICA dark store sales online: of total sales active stores: online 2019 market share of growth +36% online growth Apotek Hjärtat launches Click&collect, Click&express SEK 2.3 bn 1.9% 2.9% +33% sales: >10% +40% Investment in and partnership with Min Doktor Launch of My climate goal, ICA Voice and ICA Spara 6 EBIT equals ”EBIT excluding items affecting comparability” on all slides in this presentation. As of January 1, 2019, ICA Gruppen reports in accordance with IFRS 16. 2018 numbers have been recalculated Q4 Report 2019 Good conclusion to a strong year Financial Events Net sales: EBIT: EBIT margin: Ramp-up of Apotek Hjärtat warehouse in Launch of new loyalty program in Sweden +2.6% +7.3% 4.1% Norrköping back on track, improved efficiency Lena Boberg CEO of ICA Real Estate leaves by the summer Rimi Baltic e-commerce launch Board proposes dividend of 12.00 SEK/share at AGM Store sales and retail market in Q4 Sweden – Store sales growth in line with market Rimi Baltic – Sales impacted by store conversions in Latvia Apotek Hjärtat – Sales above market growth – driven by prescription sales • Rimi store sales +2.6%, comparable sales +0.9% • ICA store sales in Sweden, growth of +3.4%, in comparable • Estonia comparable +0.7% • Apotek Hjärtat sales growth +3.0% stores +3.7%. • Latvia comparable +0.1% • Prescription +3.3% • Price and calendar effect of +3.1% (price +3.1%, • Lithuania comparable +2.8% • OTC +0.3% calendar 0%) • Market growth +4.3% • Traded goods +3.2% (excl. Minutkliniken +3.7%) • Market growth* +3.7% • Inflation +2.7% • Market growth of %+2.7% • ICA Online sales growth +25% (food online +40% • Establishments Q4: 7 new stores • Prescription +1.7% and menu baskets -3%). Market growth* online +17% • OTC +2.2% • Establishments Q4: 5 new stores • Traded goods +7.1% % • Online growth, Apotek Hjärtat +37%, market+32% • Establishment Q4: 2 new pharmacies 8.0 % 8.0 % 6.0 12.0 6.0 10.0 4.0 8.0 4.0 6.0 2.0 2.0 4.0 2.0 0.0 0.0 0.0 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 2018 2019 2018 2019 2018 2019 Food Retail Market ICA ICA, comparables Inflation Food Retail Market Rimi Rimi, comparables Inflation Pharmacy Market Apotek Hjärtat MSEK Net sales EBIT EBIT margin Q4 2019 Q3 2018 Change % Q4 2019 Q3 2018 Change % Q4 2019 Q3 2018 Change % *Source DVI = Food retail index/Dagligvaruindex 30,850 30,069 +2.6% 1,267 1,180 +7.3% 4.1% 3.9% +0.2pp 7.
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