January 1 - March 31, 2007 - Group revenues amounted to SEK 154 M (154). - Operating profit for the Group, including share of profits of ICA AB, amounted to SEK 99 M (163). - Profit for the period amounted to SEK 511 M (239). Earnings per share amounted to SEK 3.18 (1.49) before and after dilution. - The National Tax Board allowed Hakon Invest a tax deduction in respect of losses on the shareholding in the Dutch company Royal Ahold for tax years 2002-2005, which had a positive effect on income tax of SEK 350 M in the first quarter. - The ICA Group's revenues increased by 20.5%, including Rimi Baltic which is consolidated from January 1, 2007. Excluding Rimi Baltic, the increase was 5.2%. Profit for the period fell to SEK 341 M (465). President and CEO Claes-Göran Sylvén comment the Interim Report: "The first quarter was characterized by continued high growth in the Nordic and Baltic retail markets. For our biggest holding, ICA, sales in the Swedish and Baltic stores continued to show strong development, while store sales in Norway do not yet meet expectations. Despite a good sales trend in total terms, our share of profits from ICA decreased during the quarter due to structural costs in Sweden and Norway.""During the period we received a positive notification from the National Tax Board which means that Hakon Invest is allowed a tax deduction for losses we incurred in previous years on our shareholding in the Dutch company Royal Ahold. Combined with continued positive development for financial management, this means that our profit after tax for the first quarter more than doubled compared with the same period in the previous year." For more information, contact: Vice President Corporate Communications Anders Hallgren, tel. +46-8-553 399 66 Head of Investor Relations Pernilla Linger, tel. +46-8-553 399 55 Hakon Invest, which is listed on Nordic Exchange Large Cap, conducts active and long-term investment operations in retail-oriented companies in the Nordic region. Hakon Invest owns 40% of ICA AB, the Nordic region's leading retail company with focus on food. In addition, Hakon Invest owns Forma, Kjell & Company and Hemma. Further information about Hakon Invest is available at www.hakoninvest.se.
Hakon Invest s interim Report, January - March 2007
| Source: ICA Gruppen AB