July 27, 2017 12:18 AM ET

Real Estate Management and Development

Company Overview of ICA Fastigheter Sverige AB

Company Overview

ICA Fastigheter Sverige AB owns, acquires, manages, and sells commercial and retail real estate properties. The company was founded in 1935 and is based in Västerås, Sweden. ICA Fastigheter Sverige AB operates as a subsidiary of ICA Gruppen AB.

Ingenjör Bååths gata 11, T2

Västerås,  72184

Sweden

Founded in 1935

Phone:

46 21 19 30 00

Fax:

46 21 18 63 32

Key Executives for ICA Fastigheter Sverige AB

Chief Executive Officer and Chairman
Age: 69
Chief Operation Officer
Compensation as of Fiscal Year 2017.

ICA Fastigheter Sverige AB Key Developments

ICA Real Estate Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015

ICA Real Estate announced earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company announced net sales of SEK 606 million compared to SEK 575 million for the same period a year ago. Operating profit before depreciation and amortization was SEK 402 million compared to SEK 222 million for the same period a year ago. Operating profit excluding non-recurring items was SEK 112 million compared to SEK 95 million for the same period a year ago. The earnings growth is attributable to higher rental income and to income from Ancore, which partly countered by slightly higher costs. For the full year, the company announced net sales of SEK 2,382 million compared to SEK 2,253 million for the same period a year ago. Operating profit before depreciation and amortization was SEK 1,145 million compared to SEK 973 million for the same period a year ago. Operating profit excluding non-recurring items was SEK 456 million compared to SEK 409 million for the same period a year ago.

ICA Real Estate Form New Jointly Owned Property Company with Första AP-fonden

ICA Gruppen AB announced the formation of a new, jointly owned property company by ICA Real Estate and Första AP-fonden, Secore Fastigheter. The formation of the jointly owned company is in line with ICA Real Estate's strategy to maintain ICA's influence in the respective marketplaces while freeing up capital for future investments. This new JV, which is 50%-owned each by ICA and Första AP-fonden, will have an initial property portfolio worth approximately SEK 1.1 billion. The aim of the JV is to buy and own ICA stores in strategic locations. Also, ICA Real Estate Sweden will continue to manage the sold store properties. Reportedly, initially the company will acquire 13 store properties from ICA Real Estate Sweden, in which ICA will be the main tenant. These 13 store properties being acquired by the jointly owned company are Maxi ICA Stormarknad Hässleholm, Maxi ICA Stormarknad Motala, Maxi ICA Stormarknad Kristinehamn, Maxi ICA Stormarknad Bromölla, ICA Supermarket Simrishamn, ICA Supermarket Perstorp, ICA Supermarket Sölvesborg, ICA Supermarket Eksjö, ICA Supermarket Hedemora, ICA Supermarket Alunda, ICA Ettan i Västerås (ICA Supermarket), ICA Nära Katrineholm and ICA Supermarket Österbybruk and comprise a total area of slightly more than 55,000 square metres. The company will be 60%-financed through external funding.

ICA Real Estate Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

ICA Real Estate announced earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net sales of SEK 600 million compared to SEK 562 million a year ago. Operating profit before depreciation/amortisation (EBITDA) was SEK 266 million compared to SEK 290 million a year ago. Operating profit excl. non-recurring items was SEK 134 million compared to SEK 112 million a year ago. For the nine months, the company reported net sales of SEK 1,776 million compared to SEK 1,678 million a year ago. Operating profit before depreciation/amortisation (EBITDA) was SEK 743 million compared to SEK 751 million a year ago. Operating profit excl. non-recurring items was SEK 344 million compared to SEK 314 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 2, 2016
ICA Eiendom Norge AS
Merger/Acquisition
November 4, 2016
Hagby 1:101 and 1:102 in Åkersberga
 

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