Glossary

  • Finance
  • Sustainability
  • Industry
Business volume

Sum of lending, deposits, fund savings and home mortgages (including volume intermediated via collaborations).

Capital employed

Equity plus interest-bearing liabilities.

Cash flow from operating activities per share

Cash flow from operating activities for the period divided by the average number of shares outstanding.

C/I ratio (ICA Bank)

Total costs in relation to total income.

Common Equity Tier I ratio (ICA Bank)

The bank’s capital base in relation to risk-weighted assets.

Divestments

Payments received for sold tangible and intangible non-current assets during the period according to the statement of cash flows.

Earnings per ordinary share

Profit for the period, excluding non-controlling interests, divided by the average number of shares outstanding.

EBITDA

Operating profit before depreciation, amortisation and impairment (Earnings Before Interest, Taxes, Depreciation and Amortisation).

Equity/assets ratio

Equity including non-controlling interests in relation to total assets.

Equity per share

Equity, excluding non-controlling interests, divided by the total number of shares outstanding.

Gross profit

Net sales less cost of goods sold.

Investments

Investments paid in tangible and intangible non-current assets during the period according to the statement of cash flows.

Like-for-like store sales

Sales for stores that generated sales both in the reporting period and in the comparison period..

Loan loss ratio (ICA Bank)

Loan losses in relation to average lending.

Net debt

Interest-bearing liabilities excluding pensions, ICA Bank and cash and cash equivalents.

Net interest (ICA Bank)

The difference between the bank’s interest income and interest expense.

Net margin

Profit for the period as a percentage of net sales.

Non-recurring items

Gain/loss on disposal of non-current assets, impairment of non-current assets as well as major structural changes.

Occupancy rate (ICA Real Estate)

Market rents for rented properties divided by total rental value (contracted annual rent + market rent for unrented premises).

Operating margin

Operating profit as a percentage of net sales.

Return on capital employed

Profit after financial income in relation to average capital employed. ICA Bank’s operations are excluded from both the income statement and balance sheet when calculating return on capital employed.

Return on equity

Profit for the period in relation to average equity. ICA Bank’s operations are excluded from both the income statement and balance sheet when calculating return on equity.

Yield (ICA Real Estate)

Operating net in relation to the average book value of properties.

Bangladesh Accord

An international agreement between companies and trade unions to improve safety in the textile industry in Bangladesh.

BRC CP

British Retail Consortium Consumer Products, a standard for non-food products that covers product safety, quality and compliance.

BRC S&D

British Retail Consortium Storage and Distribution, a quality standard for retailers that covers product safety, quality and compliance.

BSCI

Business Social Compliance Initiative, European platform for social compliance in supplier countries.

Business Ethics and Policy Committee

ICA Gruppen's cross-organisational committee that suggests sustainability priorities and monitors ethical dilemmas, risks and public opinion.

Debio

Certification body for organic production, Norwegian equivalent to Sweden's KRAV.

Fairtrade

Independent labelling system that promotes better working and living conditions for growers and their employees in countries with widespread poverty.

GFSI

The Global Food Safety Initiative, a business-driven initiative for the continuous improvement of food safety management systems.

Global Compact

UN initiative to encourage companies to support human rights, labor and the environment.

HACCP

Hazard Analysis and Critical Control Point, risk analysis and management program.

High-risk countries

High-risk countries are as defined by the UN Human Development Index and Economic Security Index (UNDP).

ICA's Good Business

Seven position statements that govern ICA's operations and serve as the foundation for the sustainability work.

IEH

Ethical Trading Initiative Norway, a forum for ethical trade and other challenges in global supply chains.

ISO 9001/ISO 14001

International standards for quality/food safety and environmental management systems.

KRAV

Swedish independent labeling system for organic food.

MSC

Marine Stewardship Council, international ecolabel for seafood.

Rainforest Alliance

Independent labelling system that aims of working to conserve biodiversity and ensure sustainable livelihoods.

RSPO

Roundtable on Sustainable Palm Oil, an organization established to promote the growth and use of certified sustainable palm oil.

RTRS

Round Table on Responsible Soy, an organization established to promote the growth and use of certified sustainable soy.

Swan

Official Nordic ecolabel of the Nordic Council of Ministers.

Svensk standard för livsmedelshantering i butik

Swedish industry standard for food handling and food safety in stores.

UN-Water

UN entity that support states in their water-related efforts to reach the Millennium Development Goals.

UTZ Certified

Independent labelling system and program for sustainable farming of agricultural products.

BRC

British Retail Consortium

Comparable stores

A store that has generated sales throughout the comparison period.

Corporate brand products

All products where ICA is the primary contact for the product, essentially private label products.

Hard discount

Distinctly low-price store with a limited product range.

Joint venture

Cooperation project, a joint venture company.

MTN

A medium-term note is a continuously offered debt note with a predetermined maturity date.

Non food

Items that are not food, such as clothing and footwear.

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