SOLNA, Sweden, Dec 15, 2016 /PRNewswire/ --
Today, 15 December 2016, ICA Gruppen is arranging a Capital Markets Day in Stockholm. The programme includes, among other things, a review of the Group's strategic priorities and goals as well as business reviews for Rimi Baltic, Apotek Hjärtat and ICA Sweden.
ICA Gruppen's management is today meeting with financial analysts, bank representatives and the media to present the company's strategies, view of the market, and investments. During the day ICA will, among other things, talk about the Group's investment level for 2017 and the number of establishments.
To secure its long-term growth, ICA Gruppen will expand its capex budget from SEK 2.5 billion in 2016 to SEK 3.5 billion in 2017. Among other things, ICA Gruppen is increasing its investments in IT in all companies. The investments will create better conditions for continued digitalisation, improved loyalty services and improved operation of the daily business. But ICA Gruppen is also investing in strengthening and modernising its pharmacy and store network as well as in an expansion of Rimi Baltic's central warehouse.
The investments will be partly financed through the sale of real estate. On top of the previously communicated sale of the Norwegian property portfolio, during the spring of 2017 ICA will sell additional properties to a joint venture, which is expected to generate approximately SEK 800 million.
The number of new store establishments in 2017 is expected to be slightly lower than in 2016. ICA Sweden plans to open 10 to 15 new stores in 2017, compared with a total of 17 in 2016. Rimi Baltic plans to open ten new stores in 2017, compared with a total of 15 in the current year. Apotek Hjärtat plans to open a total of 14 new pharmacies in 2017, compared with 11 this year.
For more information
ICA Gruppen press service,
Telephone number: +46 10 422 52 52
This information is such that ICA Gruppen is obligated to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication at 07.30 CET on Thursday, 15 December 2016.
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SOURCE ICA Gruppen AB