Interim report ICA AB. January 1 June 30, 2009

Transcription

1 Interim report ICA AB January 1 June 30, 2009

2 Interim report Stockholm, Sweden, August 19, 2009 Increased sales and improved operating income excluding capital gains and impairments Second quarter Net sales for the second quarter amounted to SEK 24,037 million (22,765), an increase of 5.6 percent. At constant exchange rates, net sales were up 2.8 percent. Operating income amounted to SEK 582 million (660), a decrease of 11.8 percent. Operating income excluding capital gains on property sales of SEK 56 million (137) and impairment losses on fixed assets of SEK 58 million amounted to SEK 584 million (523), an increase of 11.7 percent. Income after net financial items amounted to SEK 497 million (597), a decrease of 16.8 percent. Net income for the second quarter amounted to SEK 360 million (557), a decrease of 35.4 percent. The decrease is a result of higher tax expenses as well as lower capital gains from property sales and higher impairment losses on fixed assets. First half-year Net sales for the first half-year amounted to SEK 46,596 million (44,064), an increase of 5.7 percent. At constant exchange rates, net sales were up 2.8 percent. Operating income amounted to SEK 848 million (919), a decrease of 7.7 percent. Operating income excluding capital gains on property sales of SEK 71 million (171) and impairment losses on fixed assets of SEK 58 million amounted to SEK 835 million (748), an increase of 11.6 percent. Income after net financial items amounted to SEK 661 million (753), a decrease of 12.2 percent. Net income for the first half-year amounted to SEK 469 million (748), a decrease of 37.3 percent. The decrease is a result of higher tax expenses as well as lower capital gains from property sales and higher impairments losses on fixed assets. Key financial ratios April - June January June Full-year % % 2008 Net sales 24,037 22, % 46,596 44, % 90,963 Operating income % % 2,117 Operating income excl. capital gains and impairment losses 1) % % 1,905 Operating margin, % Operating margin excl. capital gains and impairment losses 1) Income after net financial items % % 1,794 Net income for the period % % 1,728 Total assets 40,111 37,619 39,969 Cash flow from operating activities 1,312 1, ,670 4,577 Equity/assets ratio, % Return on equity, % 2) Return on capital employed, % 3) ) Operating income excluding capital gains on property sales and impairment losses on fixed assets. 2) Return on equity = Income after tax as a percentage of average equity. The operations of ICA Bank are excluded from both the income statement and balance sheet in the calculation. The return is calculated on a moving 12-month period. 3) Return on capital employed = Income after financial income as a percentage of average capital employed. The operations of ICA Bank are excluded from both the income statement and balance sheet in the calculation. The return is calculated on a moving 12- month period. 2

3 Comment by the CEO The ICA Group s net sales increased during the second quarter and operating income excluding capital gains from property sales and impairment losses improved. The improvement was due to a strong result from ICA Sweden and higher income from ICA Bank. ICA Norway and Rimi Baltic reported lower second-quarter operating results, compared with last year and ICA Real Estate s operating income decreased due to lower capital gains compared with last year. ICA Sweden s sales increased during the second quarter partly thanks to the successful price reduction campaign that was launched in April. The higher sales contributed to an improved and strong operating income with an operating margin of 3.8 percent. The improved result was also due to lower costs for logistics and administration as well as an improved result within non-food. Our cost savings actions continue according to plan. In ICA Norway, sales increased during the quarter as a result of higher sales in comparable stores, primarily Maxi and converted Rimi stores, and the fact that more stores are now owned by ICA Norway. During the second quarter, 29 stores were converted to the new Rimi concept. In total, 50 stores have been converted during the first half-year with an average sales increase of over 10 percent. More Rimi stores will be converted during the year. ICA Norway s operating result declined during the second quarter compared to last year due to higher costs as a result of the turnaround process that we are implementing. Greater price competition in the market has put pressure on the margins. We are heading in the right direction with our turnaround process which is progressing according to plan. The measures now under way are expected to have an impact later in the year and as a whole will help ICA Norway to improve its operating result for the full-year Rimi Baltic s sales decreased in local currency during the second quarter. The economic instability and increased unemployment in the Baltic countries have affected consumer behavior and, among others, led to lower average purchases. We have therefore continued with our various sales activities at the same intensity. This has put pressure on margins, and operating income fell during the second quarter. Rimi Baltic has managed to quickly implement various cost-savings programs including, among others, significant staff cuts as well as salary cuts in order to adapt to the current situation. During the quarter we also continued to modernize 30 stores in the Supernetto discount concept. Despite the competition in the market, Rimi Baltic raised its market share in all countries from December 2008 to May 2009, according to the marketing research company Nielsen. We see this as a confirmation that we are undertaking the right activities in Rimi Baltic. The ICA Group s consolidated net sales rose during the first half-year and operating income excluding capital gains from property sales and impairment losses rose compared with last year. ICA Sweden showed a strong result during the first half year. Also ICA Bankens result improved although ICA Norway s and Rimi Baltic s operating income decreased. ICA Real Estate s operating income decreased due to lower capital gains than last year. In the current economy, our customers are more price-conscious. We continue to focus on a clearer price positioning, sales campaigns and more low-price products in all our markets. Other priorities during the year are our cost-savings programs and to turn around ICA Norway. 3

4 Important events during the second quarter In April, ICA launched one of its largest pricing campaigns to date in the Swedish market. Kiellands Hus Eiendom AS, which is 51% owned by ICA Eiendom Norway AS, sold the Kiellands Hus shopping center in May. The sale produced a capital gain for the ICA Group of NOK 40 million during the second quarter. Sales and financial results ICA GROUP During the second quarter, consolidated net sales amounted to SEK 24,037 million (22,765), up 5.6 percent. At constant exchange rates, net sales were up 2.8 percent. Operating income amounted to SEK 582 million (660) and includes capital gains on real estate sales of SEK 56 million (137) and impairment losses on fixed assets of SEK 58 (0) in Rimi Baltic. Operating income excluding capital gains and impairment losses amounted to SEK 584 million (523). Income after net financial items amounted to SEK 497 million (597). Net income for the period amounted to SEK 360 million (557). The lower income was mainly due to higher tax expenses. During the first half-year, consolidated net sales amounted to SEK 46,596 million (44,064), up 5.7 percent. At constant exchange rates, net sales were up 2.8 percent. Operating income amounted to SEK 848 million (919) and includes capital gains on real estate sales of SEK 71 million (171) and impairment losses on fixed assets of SEK 58 (0). Operating income excluding capital gains and impairment losses amounted to SEK 835 million (748). Income after net financial items amounted to SEK 661 million (753). Net income for the period amounted to SEK 469 million (748). The lower income was mainly due to higher tax expenses. ICA SWEDEN During the second quarter, net sales amounted to SEK 15,062 million (14,080), up 7.0 percent. The increase was partly the result of the price reduction campaign launched in April. Operating income amounted to SEK 567 million (358). The improvement was due to increased sales and lower costs for logistics and administration as well as a better result in non-foods. The lower logistics costs were mainly due to more efficient logistics and lower costs in the warehouse in Helsingborg. The quarter was negatively affected by a higher cost of goods partly caused by a weaker Swedish krona. During the first half-year, net sales amounted to SEK 28,629 million (27,120), up 5.6 percent. The increase was partly the result of the price reduction campaign launched in April. Operating income amounted to SEK 945 million (655). The improvement was due to increased sales, lower costs for logistics and administration, and a better result in non-foods. The quarter was negatively affected by a higher cost of goods partly caused by a weaker Swedish krona. ICA NORWAY During the second quarter, net sales amounted to SEK 5,348 million (5,004), up 6.9 percent. In local currency the increase was 3.1 percent. The increase was mainly due to higher sales in comparable stores and the conversion of more franchised stores to Group-owned stores in ICA Norway. The operating loss was SEK 215 million (-86). The higher loss was primarily due to increased costs for more Group-owned stores and higher costs as a consequence of the turnaround process. The higher costs are among others related to the conversion of Rimi stores into the new concept, and costs for terminating lease and personnel agreements as a consequence of closing two Maxi stores during the year. During the first half-year, net sales amounted to SEK 10,600 million (9,867), up 7.4 percent. In local currency the increase was 3.6 percent. The improvement was mainly due to a sales increase in comparable stores of 2.4 percent, but also the conversion of more franchised stores to Group-owned stores in ICA Norway. The operating loss was SEK 515 million (-302). The higher loss was primarily due to lower store margins caused by increased costs for more Group-owned stores and higher costs as a consequence of the turn around process. The higher costs are 4

5 among others related to the conversion of Rimi stores into the new concept, and costs for terminating lease and personnel agreements as a consequence of closing two Maxi stores during the year. RIMI BALTIC During the second quarter, net sales amounted to SEK 3,268 million (3,153), up 3.6 percent. In local currency, sales decreased by 10.1 percent. The operating loss was SEK -60 million (66). The second quarter was charged with impairment losses on fixed assets of SEK 58 million (0) in all three countries. The operating loss excluding impairment losses amounted to SEK -2 million (66). The lower result was mainly due to lower sales caused by falling consumption in the Baltic countries as well as as well as higher fixed costs due to an increase in the number of stores compared with the same quarter last year. The decline was also due to margin pressure resulting from pricing and sales campaigns. The number of stores has increased by 23 compared with June During the first half-year, net sales amounted to SEK 6,533 million (5,991), up 9.0 percent. In local currency, sales decreased by 5.8 percent. The operating loss was SEK -103 million (72). The first half-year was charged with impairment losses on fixed assets of SEK 58 million (0). The operating loss excluding impairment losses amounted to SEK -45 million (72). The lower result was mainly due to lower sales caused by falling consumption in the Baltic countries as well as higher fixed costs due to an increase in the number of stores compared with the same quarter last year. The decline was also due to margin pressure resulting from various pricing and sales campaigns. ICA BANK During the second quarter, revenues amounted to SEK 161 million (139), up 15.8 percent. Business volume increased by 2.9 percent (2.6) during the second quarter. Operating income rose to SEK 37 million (25) mainly due to higher net interest income. During the first half-year, revenues amounted to SEK 321 million (275), up 16.7 percent. Business volume increased by 12.0 percent (9.8) compared with the second quarter of 2008 and by 4.9 percent (4.0) since the beginning of the year. Operating income rose to SEK 75 million (46) mainly due to higher net interest income. ICA REAL ESTATE As of January 1, 2009, the real estate operations in Sweden and Norway are reported in the ICA Real Estate segment. ICA Real Estate currently owns 180 properties and manages all ICA s rental agreements in Sweden and Norway. During the second quarter, revenues amounted to SEK 522 million (479), up 9.0 percent. Operating income amounted to SEK 284 million (353) and included capital gains on real estate sales of SEK 56 million (137). Operating income excluding capital gains amounted to SEK 228 million (216). The income improvement was largely due to higher rental revenues and lower staff costs. During the first half-year, revenues amounted to SEK 1,048 million (952), up 10.1 percent. Operating income amounted to SEK 518 million (589) and included capital gains on real estate sales of SEK 61 million (171). Operating income excluding capital gains amounted to SEK 457 million (418). The income improvement was largely due to higher rental revenues and lower staff costs. ICA GROUP FUNCTIONS The operating loss during the second quarter amounted to SEK 31 million ( 56). The change compared with the previous year is as a result of cost savings. The operating loss during the first half-year amounted to SEK 72 million ( 141) and included capital gains on real estate sales of SEK 10 million (0). The operating loss excluding these items amounted to SEK -82 million (-141). There are no properties remaining in ICA Group Functions following the sale during the first half-year. The change compared with the previous year was due to a one-time premium of SEK 35 million paid to employees in Sweden in 2008 as well as cost savings. 5

6 NET FINANCIAL ITEMS AND TAXES During the second quarter, the ICA Group s net financial items amounted to SEK -85 million (-63). The tax expense was SEK -137 million (-40). The increased tax expense is due to a change in tax regulations in Sweden for intra- Group loans as of 2009 that has increased taxes by SEK 75 million. During the first half-year, the ICA Group s net financial items amounted to SEK -187 million (-166). The tax expense was SEK -192 million (-5). The increased tax expense is due to a change in tax regulations in Sweden for intra-group loans as of 2009 that has increased taxes by SEK 150 million. FINANCIAL POSITION The Group s total assets amounted to SEK 40,111 million (39,969) compared with December 31, The increase in total assets was primarily due to the weaker Swedish krona as well as a higher tax receivable. Cash flow from operating activities decreased to SEK 948 million (1,670) during the first half-year. The decrease was mainly due to an increase in tax payments of SEK 849 million, of which SEK 747 million was a payment in connection with a tax dispute for the period Cash flow from investing activities amounted to SEK -1,201 million (-636). Cash flow from financing activities was SEK -57 million ( 866). The Group s liquid assets totaled SEK 4,757 million on June 30, 2009 (SEK 5,102 million on December 31, 2008). The large part of liquid assets, SEK 4,049 million, relates to ICA Bank. The equity/assets ratio was 31.9 percent (32.0 percent on December 31, 2008). The Group's net debt excluding ICA Bank was SEK 3,117 million on June 30, 2009 (SEK 2,132 million on December 31, 2008). TAX DISPUTES In 2007, the Swedish Tax Agency disallowed interest deductions by ICA Finans AB of SEK 1,795 million for the period ICA appealed the decision to the County Administrative Court, which in December 2008 ruled in favor of the Swedish Tax Agency. The Swedish Tax Agency s claim amounts to SEK 747 million, including penalties and interest. ICA is convinced that the deductions made by ICA Finans AB complied with applicable tax laws and has appealed the County Administrative Court s decision to the Swedish Administrative Court of Appeal. The claim is recognized as a contingent liability. In January 2009, the Swedish Tax Agency decided not to grant ICA an extension on the payment. ICA paid the claim of SEK 747 million in February 2009 and has booked it as a receivable from the Swedish Tax Agency. In a separate case, the Swedish Tax Agency decided in 2008 to disallow interest deductions of SEK 3,158 million made in to a Dutch Group company. The Swedish Tax Agency s claim amounts to SEK 1,079 million (including penalties and interest). ICA is convinced that the deductions it made complied with tax laws and has appealed the Swedish Tax Agency s decision to the County Administrative Court. The claim is recognized as a contingent liability. 6

7 INVESTMENTS Investments during the first half-year amounted to SEK 977 million (1,158) and were distributed according to the table below.. No single investment exceeded SEK 50 million. Further investments in the Baltic countries will be made cautiously given current economic conditions. Investments April - June January - June Full-year Retail locations ,187 Distribution Investment properties Intangibles Other TOTAL ,158 2,631 PERSONNEL The Group had an average of 21,275 employees (20,927) during the first half-year. Since 31 December 2008, the average number of employees has reduced from 22,023, a decrease of 748. SIGNIFICANT RISKS AND UNCERTAINTIES Given the nature of the Group s operations, a financial exposure naturally arises with regard to interest rates, liquidity, exchange rates and credit. The Group has a central treasury function whose primary purpose is to ensure that the Group has secured financing through loans and lines of credit, as well as to provide cash management and to actively manage and verify that the financial exposure is in compliance with the Group s finance policy. ICA Bank s operations are exposed to a number of risks. The most prominent risks are considered to be credit risk, operating risk and business risk/strategic risk, while market risk and liquidity risk are limited. For a complete description of the risks affecting the Group, refer to the annual report PARENT COMPANY, ICA AB The Parent Company's net sales during the first half-year amounted to SEK 20 million (456) with income after net financial items of SEK 452 million (883). The lower net sales reflect the effects of the new organization implemented on January 1, 2009; certain operations were transferred to ICA Sweden AB during the second quarter effective retroactively to January 1. Investments during the period amounted to SEK 11 million (23). Cash, bank balances and short-term investments amounted to SEK 5 million (5). TRANSACTIONS WITH RELATED PARTIES No transactions have taken place between ICA and related parties that significantly affect the company's financial position and results of operations. ACCOUNTING PRINCIPLES This interim report is prepared according to IAS 34. The same accounting principles and calculation methods are applied as in the most recent annual report. Readers of the interim report are presumed to have access to the most recent annual report. The interim report primarily contains information on events and changes that have taken place since the most recent annual report was issued and that are of considerable importance to understanding the changes in the Group s financial position and results of operations. Effective January 1, 2009, ICA applies IFRS 8 Operating Segments, IFRIC 13 Customer Loyalty Programmes and revisions to IAS 1 Presentation of Financial Statements. The application of IFRS 8 means that real estate operations in Sweden and Norway are reported as a separate segment, ICA Real Estate. The comparable year has been adjusted based on the same principle. The bonus ICA gives its customers based on their purchases is governed by IFRIC 13, the application of which has not significantly affected the financial reports. The revision to IAS 1 means that a statement of comprehensive income is presented in direct connection to the income statement. Revenues and expenses recognized directly in equity are now presented in this statement. 7

8 The comparable year has been adjusted based on the same principle. Other new or revised standards and interpretations from IFRIC have not had an effect on ICA s financial reports. The preparation of the financial reports in accordance with IFRS requires management to make estimates and assumptions that affect the application of the accounting principles and the carrying amounts in the income statement and balance sheet. Estimates and assumptions are based on historical experience and a number of factors that under current circumstances seem reasonable. The result of these estimates and assumptions is then used to determine the carrying amounts of assets and liabilities that otherwise are not clearly indicated by other sources. Actual outcomes may deviate from these estimates and assumptions. NEXT REPORTING DATE The interim report for January September 2009 will be presented on November 4, Stockholm, August 19, 2009 Kenneth Bengtsson President and CEO, ICA AB FOR FURTHER INFORMATION, PLEASE CONTACT: Kenneth Bengtsson, President and CEO, telephone ICAs press telephone About ICA The ICA Group (ICA AB) is one of the Nordic region s leading retail companies, with around 2,230 of its own and retailer-owned stores in Sweden, Norway and the Baltic states. The Group includes the retail companies ICA Sweden, ICA Norway and Rimi Baltic. ICA also offers financial services to Swedish customers through ICA Bank. ICA AB is a joint venture 40% owned by Hakon Invest AB and 60% by Royal Ahold N.V. of the Netherlands. According to a shareholder agreement, Royal Ahold and Hakon Invest jointly share a controlling influence over ICA AB. Through Royal Ahold, ICA AB is part of an international retail network. For more information, please visit 8

9 Financial reports for the Group Income statement - Group April - June January - June Full-year SEK million Net sales 24,037 22,765 46,596 44,064 90,963 Cost of sales -20,628-19,759-40,330-38,291-78,825 Gross profit 3,409 3,006 6,266 5,773 12,138 Selling and administrative expenses -2,936-2,521-5,569-5,085-10,474 Other operating revenue Share of associated companies net profit Operating income ,117 Financial income Financial expenses Income after net financial items ,794 Tax Net income for the period ,728 Of which attributable to ICA AB's shareholders ,735 Of which attributable to non-controlling interests Statement of comprehensive income April - June January - June Full-year SEK million Net income for the period ,728 Other comprehensive income Change in translation reserve, net after tax Change in fair value reserve, net after tax Change in hedge reserve, net after tax Total other comprehensive income for the period Total comprehensive income for the period ,807 Of which attributable to ICA AB's shareholders ,814 Of which attributable to non-controlling interests Net sales by segment - Group April - June January - June Full-year SEK million ICA Sweden 15,062 14,080 28,629 27,120 55,969 ICA Norway 5,348 5,004 10,600 9,867 20,164 Rimi Baltic 3,268 3,153 6,533 5,991 12,661 ICA Bank ICA Real Estate , ,969 ICA Group Functions ,221 Intra-Group sales ,603 Net sales 24,037 22,765 46,596 44,064 90,963 Operating income by segment - Group April - June January - June Full-year SEK million ICA Sweden ,709 ICA Norway Rimi Baltic ICA Bank ICA Real Estate ,134 ICA Group Functions Total operating income ,117 9

10 Financial reports for the Group (cont.) Condensed balance sheet - Group SEK million June 30, 2009 June 30, 2008 Dec 31, 2008 Intangible fixed assets 3,888 3,601 3,742 Tangible fixed assets 15,595 14,756 15,544 Financial fixed assets 4,187 3,690 3,772 Deferred tax assets Total fixed assets 24,124 22,293 23,482 Inventory 4,245 4,103 4,461 Accounts receivable 6,963 6,271 6,921 Liquid assets 4,757 4,536 5,102 Assets held for sale Total current assets 15,987 15,326 16,487 TOTAL ASSETS 40,111 37,619 39,969 Shareholders equity 12,798 11,719 12,796 Long-term liabilities 6,086 5,730 5,032 Current liabilities 21,227 20,170 22,141 TOTAL SHAREHOLDERS EQUITY AND LIABILITIES 40,111 37,619 39,969 Pledged assets Contingent liabilities 2, ,049 Change in shareholders equity - Group SEK million January June 2009 January June 2008 Full-year 2008 Opening balance 12,796 12,073 12,073 Dividend (of the year s dividend, 16 relates to the dividend ,084-1,084 to non-controlling interests in subsidiaries) Total comprehensive income for the period ,807 Closing balance, March 31, ,798 11,719 12,796 Of which attributable to ICA AB's shareholders 12,787 11,708 12,790 Of which attributable to non-controlling interests Condensed statement of cash flows - Group January - June Full-year SEK million Cash flow from operating activities before change in working capital, excluding taxes paid 1,639 1,355 3,309 Taxes paid Change in working capital ,513 Cash flow from operating activities 948 1,670 4,577 Cash flow from investing activities -1, ,312 Cash flow from financing activities ,461 Cash flow for the period Liquid assets at beginning of period 5,102 4,360 4,360 Exchange rate differences in liquid assets Liquid assets at end of period 4,757 4,536 5,102 10

11 Financial reports for the Parent Company Income statement Parent Company April - June January - June Full-year SEK million Net sales Cost of sales Gross profit Selling and administrative expenses Operating income Result from shares in Group companies 712 1, ,145 1,166 Other financial income Other financial expenses Income after net financial items 594 1, Appropriations Income before tax 594 1, Tax Net income for the period 623 1, Condensed balance sheet - Parent Company SEK million June 30, 2009 June 30, 2008 Dec 31, 2008 Intangible fixed assets Tangible fixed assets Financial fixed assets 33,859 33,886 33,860 Deferred tax assets Total fixed assets 33,936 34,071 34,027 Accounts receivable 2,611 2,322 4,147 Liquid assets Total current assets 2,616 2,327 4,152 TOTAL ASSETS 36,552 36,398 38,179 Shareholders equity 26,622 26,191 26,978 Untaxed reserves 1,289 1,292 1,289 Provisions Long-term liabilities 8,000 8,000 8,000 Current liabilities ,671 TOTAL SHAREHOLDERS EQUITY AND LIABILITIES 36,552 36,398 38,179 Pledged assets Contingent liabilities 7,302 8,833 8,716 11

12 Appendix - Sales trends for ICA and Rimi stores The following tables refer to store sales. In Sweden, this includes Swedish retailer-owned ICA store sales. In Norway, franchised store sales are included. Sales for retailer-owned and franchised stores are not consolidated in the Group. The percentages below are year-over-year comparisons. ICA store sales in Sweden Store sales April June 2009 January - June 2009 excl. VAT SEK SEK million all stores comparable million all stores comparable Maxi ICA Hypermarket 6, % 9.5% 11, % 7.8 % ICA Kvantum 5, % 5.4% 10, % 3.5 % ICA Supermarket 7, % 4.4% 14, % 3.5 % ICA Nära 3, % 4.4% 6, % 3.4 % TOTAL 23, % 5.9% 44, % 4.6 % During the first half-year, the share of private label sales increased to 17.1 percent (16.5) in Sweden. ICA store sales in Norway April June 2009 Store sales January - June 2009 excl. VAT NOK million all stores comparable During the first half-year, the share of private label sales decreased to 9.6 percent (9.7) in Norway. NOK million all stores comparable ICA Maxi % 5.7% 1, % 4.8% ICA Supermarked/ICA Naer 2, % 0.1% 4, % 0.9% Rimi 1, % 2.2% 3, % 3.4% TOTAL 5, % 1.8% 9, % 2.4% ICA store sales in the Baltic countries April June 2009 Store sales January - June 2009 excl. VAT EUR million all stores comparable During the first half-year, the share of private label sales increased to 8.7 percent (6.6) in the Baltic countries. EUR million all stores comparable Estonia % -14.8% % -10.4% Latvia % -13.8% % -9.3% Lithuania % -17.8% % -14.6% TOTAL % -14.9% % -10.8% Number of ICA stores in Sweden, including retailer-owned stores Store profile December 2008 New Converted Closed June 2009 Maxi ICA Hypermarket ICA Kvantum ICA Supermarket ICA Nära TOTAL 1, ,364 Number of ICA and Rimi stores in Norway, including franchised stores Store profile December 2008 New Converted Closed June 2009 ICA Maxi ICA Supermarked Rimi TOTAL Number of stores in the Baltic countries Country December 2008 New Converted Closed June 2009 Estonia Latvia Lithuania TOTAL

13 ICA AB Corporate identity number Svetsarvägen 16 SE Solna, Sweden Telephone Fax