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ICA Gruppen posts Q4 profit

ICA Gruppen AB (publ) said its fourth-quarter normalized net income amounted to 717.3 million kronor.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 2.7%.

Total revenue came to 26.49 billion kronor, and total operating expenses came to 25.66 billion kronor.

Reported net income totaled 1.43 billion kronor, or 7.10 kronor per share.

For the year, the company's normalized net income totaled 12.07 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15.44 kronor.

EPS rose 16.7% from 10.35 kronor in the prior year.

Normalized net income was 2.43 billion kronor, an increase of 16.7% from 2.08 billion kronor in the prior year.

Full-year total revenue grew 16.1% from the prior-year period to 101.22 billion kronor from 87.17 billion kronor, and total operating expenses rose 16.4% year over year to 97.28 billion kronor from 83.58 billion kronor.

The company said reported net income rose 23.9% on an annual basis to 3.66 billion kronor, or 18.22 kronor per share, in the full year, from 2.96 billion kronor, or 14.71 kronor per share.

As of March 9, US$1 was equivalent to 8.43 Swedish kronor.