Shares and shareholders

The price of the ICA Gruppen share went up in 2013 by 81%, making it one of the share price winners on NASDAQ OMX Stockholm, whose All-Share Index went up by 23%. The acquisition of the remaining shares in ICA AB and formation of ICA Gruppen was very well received on the market and contributed to the increase in the share price.

In May 2013 Hakon Invest changed its name to ICA Gruppen and consequently the Company’s ticker was changed to ICA. ICA Gruppen is in the Large Cap segment and in the Consumer Staples sector index according to the NASDAQ OMX classification.

Share price development and return

The ICA Gruppen share reached its highest price for the year of SEK 210.00 on September 19, 2013. The lowest price of SEK 110.19 was on January 2. At the end of the year the share price was SEK 201.00, which represents a price increase of 81% from the beginning of the year. This is equivalent to a market capitalisation of around SEK 40,402 million.

Since 2005, when Hakon Invest was floated on the stock exchange, the share has provided a total return of 284.8% compared to the SIX Return Index with a return of 93.6%.

The total trading volume for ICA Gruppen shares on NASDAQ OMX in 2013 was 68.8 million shares for a value of SEK 12.4 billion, equivalent to an average daily trading volume of 275,150 shares. On average shares were traded for SEK 49.4 million per day in 2013.

Trading on NASDAQ OMX Stockholm during the year accounted for 92% of all trading in ICA Gruppen shares. The remaining trading took place on exchanges such as Chi-X: 7%, Turquoise: 1% and Bats: 1%.

Share structure

ICA Gruppen’s share structure consists of ordinary shares and C shares. Both types carry the same voting entitlement. The ordinary shares are listed and constitute 59.2% of the total number of shares. The remaining 40.8% consist of C shares which are unlisted and do not carry entitlement to cash dividends for the financial years 2005–2015. On 1 January 2016 the C shares will be converted into ordinary shares and will then carry entitlement to cash dividends. All C shares are owned by ICA-handlarnas Förbund.

In May 2013 ICA Gruppen carried out a new share issue amounting to SEK 5 billion and consisting of 40,229,359 new ordinary shares. This increased the number of ordinary shares to 119,078,903. The number of C shares remains the same at 82,067,892.

Shareholders

The number of shareholders as of 31 December 2013 was 24,342, an increase of 10,126 shareholders compared with the previous year. The largest shareholder on the same date was ICA-handlarnas Förbund with 51.3% of the shares and votes in ICA Gruppen, of which 41 percentage points consisted of C shares and 10.3 percentage points of listed ordinary shares. The second largest shareholder was AB Industrivärden with 10% of the shares and capital. The remaining 38.7% is owned by institutional investors and private individuals in Sweden and other countries. 5.7% of the shares were foreign owned at the end of the year (4.5%). 

Share capital

ICA Gruppen’s share capital amounted to 502,866,987.50 distributed among 201,146,795 shares with a quota value of SEK 2.50. All shares carry the same number of votes.

Treasury shares

During the years 2007–2009 ICA Gruppen repurchased its own shares to cover the allotments in the incentive programmes for the respective years. In April 2013 16,119 shares were transferred to cover the allotment in the 2010 incentive programme. In May 2013 94,096 ordinary shares were transferred to cover the allotments in the 2011 and 2012 incentive programmes following a decision at the 2013 Annual General Meeting to discontinue these.

ICA Gruppen’s holdings of treasury shares subsequently amounted to 141,655 ordinary shares.

Dividends

The Board of ICA Gruppen proposes a dividend of SEK 8 per ordinary share for 2013 or a total of SEK 951 million. Due to the acquisition of the remaining shares in ICA, ICA Gruppen did not pay out any dividend the previous year. The targets established by the Board of Directors include ICA Gruppen providing an annual dividend to shareholders of 50% of profit for the year. Only ordinary shares, which constitute 59% of the total number of outstanding shares in ICA Gruppen, carry entitlement to cash dividends. The dividend proposed by the Board is equivalent to 68% of profit for the year.

Largest shareholders

  Number of shares Percentage of capital and votes
ICA-handlarnas Förbund 103,163,599 51.3
AB Industrivärden 20,125,000 10.0
AMF – Försäkring och fonder 3,462,302 1.7
Lannebo Fonder 2,955,455 1.5
SEB Investment Management 1,986,663 1.0
Swedbank Robur Fonder 1,957,130 1.0
Robur Försäkring 1,318,331 0.7
Danske Capital Sverige 1,264,845 0.6
Leif Jönsson 1,254,651 0.6
Enter Fonder 1,031,100 0.5
Ten largest shareholders, total 139,136,916 69.2
ICA Gruppen's holdings 141,655 0
Other shareholders 61,868,224 30.8
Total 201,146,795 100.0
The table above only includes the shareholders named in Euroclear’s register of shareholders.
Source: Euroclear

Ownership structure

Holding, no. of shares No. of shareholders Capital and votes, %
1–500 17,386 1.40
501–1,000 2,458 1.00
1,001–5,000 3,020 3.40
5,001–10,000 577 2.10
10,001–15,000 247 1.50
15,001–20,000 131 1.10
20,001– 523 89.40
Total 24,342 100
Source: Euroclear Sweden AB as of  30 December 2013

Share data

  2013 2012
Earnings per ordinary share, SEK 49.68 1.65
Earnings per ordinary share proforma, SEK 7.05 1.65
Earnings per C share, SEK 49.68 1.65
Earnings per C share proforma, SEK 7.05 1.65
Cash flow per C share, SEK 17.87 0.27
Equity per C share, SEK 116.23 55.28
Dividend per ordinary share, SEK 8 0
Dividend payout ratio, % 68 0
Share price at end of year, SEK 201 118.3
Dividend yield, % 4 0
P/E ratio 28.5 71.7
Share price/Equity 173 214
No. of ordinary shares at end of year 118,937,248 78,597,674
No. of C shares at end of year 82,067,892 82,067,892
Total no. of shares at end of year 201,005,140 160,665,566
Average no. of shares 190,006,752 169,828,539
Average number of shares after dilution 190,194,330 169,911,961
     

Share information

Marketplace NASDAQ OMX Stockholm, Large Cap segment.
Ticker ICA
ICB code 5300
ISIN-code SE SE0000652216
Round lot 1
Market cap as of 31 December 2013, SEK million 40,402
Share price as of 31 December 2013, SEK 201.00
Change during the year, % 81
Highest price for the year, SEK 210.00
Lowest price for the year, SEK 110.19
   

Analysts following ICA Gruppen

Company Analyst Phone no E-mail
ABG Sundal Collier Andreas Lundberg +46 8 566 286 51 andreas.lundberg@abgsc.se
Carnegie Niklas Ekman +46 8 588 686 92  niklas.ekman@carnegie.se
Danske Bank Anders Hansson +46 8 568 805 35 anders.g.hansson@danskebank.se
Handelsbanken Erik Sandstedt +46 8 701 3128  ersa07@handelsbanken.se
Nordea Stellan Hellström +46 8 534 922 02  stellan.hellstrom@nordea.com
SEB Stefan Nelson +46 8 52 22 98 07 stefan.nelson@seb.se
Swedbank Christian Andersson    +46 8 5859 38 59   christian.anderson@swedbank.se