New circumstances, new strategy
In addition to the retail operations, ICA Bank and ICA Real Estate, ICA Gruppen also owns – wholly or partly – a publishing company and four retail companies.
The strategy in 2013 involved evaluating the five portfolio companies owned by the Group alongside the ICA operations. The portfolio companies were evaluated based on three criteria: their own commercial potential, cost synergies with ICA Gruppen and, most importantly, what contribution the companies can make to ICA Gruppen’s core business and non-food strategy. The evaluations concluded that Forma, Kjell & Company and Cervera did not sufficiently meet the criteria and will therefore be divested. Hemtex and inkClub are believed to have the potential to support the core business and will therefore continue to have the same ownership structure. In line with the evaluation results, Forma Books was sold to Massolit Media at the end of the year. The purchase price was SEK 19 million on a debt-free basis.
|ICA Gruppen’s ownership, %|
|Kjell & Co||50|
|Net sales, SEK m||2,657||2,726|
|Operating income excl. non-recurring items, SEK m||21||–124|
|Operating margin excl. non-recurring items, %||0.8||–4.5|
|Number of employees||1,126||1,100|
|Store sales (excluding VAT)|
|2013, SEK m||Development all, %||Development comparable, %|
|Kjell & Co||965||5.5||4.5|
|Number of stores in Sweden, including franchise stores|
|Profile||December 2012||New||Closed||December 2013|
|Kjell & Co||154||7||–3||158|