Annual Report


We make every day a little easier

2021 in brief

ICA Gruppen acquired by ICA-handlarnas Förbund and AMF

ICA Gruppen acquired by ICA-handlarnas Förbund and AMF

On 10 November 2021 ICA-handlarnas Förbund, together with AMF Pensionsförsäkring AB, announced a public offer to the shareholders of ICA Gruppen AB to transfer all their shares in ICA Gruppen for SEK 534 cash per share. The offer was recommended by the independent directors of the Board. The bidders reached an ownership share above 90% on 20 December and subsequently the shares were delisted on 14 January 2022.

ICA Gruppen wins UN climate award

ICA Gruppen wins UN climate award

In conjunction with the COP26 Climate Change Conference in Glasgow ICA Gruppen was presented with a UN Global Climate Action Award. ICA Gruppen won the award for its work to create a climate-neutral business and its ambition to reduce the climate impact of groceries through efforts at the supplier and consumer level.

Major online initiatives

Major online initiatives

Online sales continued to increase during the year, despite high comparative figures. The ICA stores’ online sales of grocery items and meal kits increased by 22%. The increase in online sales for Apotek Hjärtat was 27%. Compared with 2019 the increase is a full 165 and 144 respectively.

128 SEK bn

Sales in 2021*

5.8 SEK bn

Operating profit in 2021*

4.6 %

Operating margin in 2021*

* Excluding items affecting comparability.


ICA Gruppen’s online ambitions

World-class shopping experience

A personalised, easy and inspiring shopping experience, adapted by the local retailer, that drives enjoyment of food

Flexible and reliable delivery service

The best click and collect solutions in the market and a strong home delivery offering where good personal interactions are key

Everything for the household – centred around food and mealtimes

Broad, attractive and valuefor-money offering of food, meal solutions, near-food and non-food, strengthened by a range of local products

Making every day a little easier for loyal customers

Stammis loyalty programme where companies within ICA Gruppen as well as external partners help to strengthen the offering and promote loyalty, including online

“We will be the leading omnichannel actor”

“We will be the leading omnichannel actor”

The process of developing ICA Gruppen’s various e-commerce offerings continues. All of our businesses are now making substantial investments in technology and infrastructure that will enhance the customer experience, improve the efficiency of internal processes and speed up deliveries. On the following page representatives of ICA Sweden, Apotek Hjärtat, Rimi Baltic, ICA Real Estate and the independent ICA retailers talk more about overall goals and visions for our online offerings.

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CEO's Comments

Strong position in a rapidly changing market

2021 was a good year for ICA Gruppen. We are securing our strong positions in the grocery retail and pharmacy markets, continuing to develop our omnichannel offering and, through the launch of home mortgages, advancing our position significantly in the banking market.

Per Strömberg, CEO ICA Gruppen








For the future



A strategy more relevant than ever...

ICA Gruppen’s strategy is aimed at ensuring long-term growth with sustained profitability – in a market in rapid and major transition. The pace of change has been fast for many years, but has accelerated further due to the pandemic and its consequences. Overall, the trends have demonstrated that the strategy – with its strong focus on digitalisation, online channels, health and value for money, among other things – is more relevant than ever.

...and a shared ambition for 2025

The vision and the strategic objectives set the long-term course for all operations within ICA Gruppen. Ambition 2025 sets out the course in more detail and states where ICA Gruppen intends to be and how the Company must be perceived in the years ahead in order to respond to the changes and trends identified in the world around us. Ambition 2025 was created in a joint process involving management, other key individuals within the Group and independent ICA retailers.

ICA is for everyone. We serve all customer segments with relevant price-value and locally adapted offerings. We have the leading everyday food ecosystem built around inspiring local marketplaces with supporting products, services and infrastructure.

Prioritised step-change area

  • Strengthened food ecosystem

We are recognised as one of the companies doing the most to improve public health. We are industry leader in progressing towards a business with net zero climate impact. We are known as a trusted source of guidance to make healthy and sustainable choices.

Prioritised step-change areas

  • Climate net zero
  • Make healthy choices easy

We are the most attractive and appreciated employer with the proudest employees. We are known for entrepreneurship, modern ways of working, continuous learning and that together we make a difference.

Prioritised step-change area

  • Transformation to build new capabilities

We are a trusted data-driven company, with relevant and personalised products and services, based on data that we use across the ICA system for the benefit of all stakeholders. We are deeply data-driven in our daily work and we leverage data to develop our business.

Prioritised step-change areas

  • Transformation to improve productivity
  • Data driven transformation supported by AI/AA

From trends to the new normal

Rapid digitalisation, a strong increase in e-commerce, new consumption patterns and extensive blurring of industry lines are fundamentally changing ICA Gruppen’s markets. The pace of change has been fast for a long time, but has accelerated further as a consequence of the pandemic. This is impacting offerings, business models and internal processes. It brings challenges as well as important opportunities.

  • Clear and permanent shift towards more e-commerce
  • Increased demand for ready meals and meal solutions
  • Increased focus on and interest in health and sustainability
  • Higher demand for domestically and locally produced assortment
  • Growing polarisation between different customer groups with respect to both purchasing power and selection preferences
  • The home as the “hub” for both work and leisure is leading to changes in ways of working, commuting patterns and eating habits
  • Impacting both consumers and businesses
  • Enabling new actors and new business models to enter the arena
  • Noticeable blurring of industry lines
  • Increased competition from discount actors
  • More challenging competition landscape online – with greater competition from both existing and brand new actors
  • Changed expectations around ways of working and flexibility based on experiences of working from home during the pandemic – especially in terms of being able to work remotely
  • Increased focus on ethics and responsibility
  • Expected continued recovery of the Swedish economy. Household consumption could be affected by increasing inflation and higher interest rates
  • Following a strong 2021 recovery in the Baltics, growth in 2022 might be somewhat muted

ICA Gruppen’s segments

ICA Gruppen operates in a number of areas important to people’s everyday lives, including grocery, pharmacies, banking and insurance. The core business is grocery retail. The idea is for other operations to support the core business, but they may also be developed further to embrace new business opportunities and themselves contribute to profitability and continued growth.


Leading in sustainable enterprise

ICA’s ambition is to be a leader in corporate responsibility. Sustainability work is wide-ranging and includes numerous activities and initiatives. These ambitions come together in the concept For a Good Tomorrow, broken down into five defined areas: local, environment, health, inclusion and diversity, and quality.

Taking the ICA Idea and the unique local circumstances as our starting point, together with our customers, partners and suppliers we will contribute to positive development in communities and a stronger food system throughout the grocery chain.

We will minimise our environmental impact, move from climate-neutral to net zero in our own operations and help our customers to make more sustainable choices.

We will actively contribute to improved public health by utilising the strength of our entire organisation.

We work proactively on transparency, diversity and equality in order to be one of the most inclusive workplaces and help to build a more inclusive society.

By being open and transparent we will actively take responsibility for quality and the impact of production on people, animals and the environment.