Axfood AB
1 January – 31 December 2009
Axfood AB 1 January – 31 December 2009


• Consolidated sales : SEK 32,378 m
  (31,663), an increase of 2.3%
• Good operat...
Objectives achieved 2009


         Objective 2009                         Outcome
    • Achieve an operating profit    • ...
Hemköp 1 January – 31 December 2009


• Positive result despite restructuring
  costs of SEK 46 m
  – Improved cost contro...
Willys 1 January – 31 December 2009
• Continued good performance
  – Stable earnings and sales
  – Increased number of cus...
PrisXtra 1 January – 31 December 2009



• Unsatisfying sales and profitability
• Decrease in sales for two stores due
  t...
Axfood Närlivs 1 January – 31 December 2009


• Good profitability in all parts despite fierce
  competition
• Cash & Carr...
Dagab 1 January – 31 December 2009


                   • Improved efficiency and good
                     cost control
 ...
New IT platform

• New business system to better
  support all of Axfoods strategies
• Project will run over five years
• ...
Market trends 2010


• Continued strong price competition
• Increased price consciousness
  among customers
• Food inflati...
Unchanged strategy for profitable growth

• Stimulate sales
• Increase efficiency
• Continued good cost control
• Develop ...
Axfood´s goal for 2010




     Is to achieve an operating profit
     in level with 2009




12
Financial
     Performance
1 January – 31 December 2009
Axfood AB 1 January – 31 December 2009

• Good profitability
• Strong cost control
• Stable sales



Group, SEK m         ...
Hemköp 1 January – 31 December 2009

       Sales                  Operating profit




      5,335    5,640
             ...
Willys 1 January – 31 December 2009
       Sales           Operating profit

+4.8%



 17,589    16,776

                 ...
PrisXtra 1 January – 31 December 2009


• Focus on store performance and
  improving customer offerings




SEK m         ...
Axfood Närlivs 1 January – 31 December 2009

 • Good development in distributed sales
 • Stable results



 SEK m         ...
Dagab 1 January – 31 December 2009
                        • Excellent service level
                        • Good develo...
Other 1 January – 31 December 2009


• Sales: SEK 3,364 m (1,981)
• Operating profit: SEK 84 m (98)
• Increased internal s...
Key ratios


• Balance sheet, total: SEK 7,173 m
  (7,350)
• Cash flow operating activity: SEK
  1,558 m (1,152)
• Capex: ...
Strong financial posistion
Q1 2006 – Q4 2009

2 000                                                      1,25
            ...
Financial targets & dividend policy
                     • Axfood´s goal for 2010 is to
                       achieve an ...
Summary financial performance


• Stable sales and strong result
• Efficiency and good cost control
• Strong balance sheet...
Time for
questions!
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2010-02-02 Year-End 2009 presentation

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2010-02-02 Year-End 2009 presentation

  1. 1. Axfood AB 1 January – 31 December 2009
  2. 2. Axfood AB 1 January – 31 December 2009 • Consolidated sales : SEK 32,378 m (31,663), an increase of 2.3% • Good operating profit: SEK 1,128 m (1,077) • Operating margin: 3.5% (3.4) • Positive operating margin in all operations 2
  3. 3. Objectives achieved 2009 Objective 2009 Outcome • Achieve an operating profit • Operating profit SEK 1,128 m of at least SEK 1 billion • Equity ratio of at least 25% • Equity ratio target reached every quarter • Shareholder dividend of at least 50% of profit for the • For 2009 the board of Directors year after tax proposes a dividend of SEK 10, 66% of profit after tax • Profitability for Hemköp • Operating profit SEK 28 m 3 3
  4. 4. Hemköp 1 January – 31 December 2009 • Positive result despite restructuring costs of SEK 46 m – Improved cost control – Increased gross profit – Closed or converted eight fully owned stores • 2010: Focus on improving sales and profitability – Higher pace of marketing activities – New price strategy 4
  5. 5. Willys 1 January – 31 December 2009 • Continued good performance – Stable earnings and sales – Increased number of customers • Leading position in soft discount – Attractive mix between price & assortment • Development of concept according to plan, so far 28 stores • 2010: Sales growth and increase number of stores 5
  6. 6. PrisXtra 1 January – 31 December 2009 • Unsatisfying sales and profitability • Decrease in sales for two stores due to major road work • 2010: Focus on store performance and increased profitability 6
  7. 7. Axfood Närlivs 1 January – 31 December 2009 • Good profitability in all parts despite fierce competition • Cash & Carry showed very strong performance 7
  8. 8. Dagab 1 January – 31 December 2009 • Improved efficiency and good cost control • Excellent service level • Implementation of Autoorder continued as planned • Deliver to Vi- stores since November 8
  9. 9. New IT platform • New business system to better support all of Axfoods strategies • Project will run over five years • Total investment of SEK 500 - 600 m 9
  10. 10. Market trends 2010 • Continued strong price competition • Increased price consciousness among customers • Food inflation at low levels 10
  11. 11. Unchanged strategy for profitable growth • Stimulate sales • Increase efficiency • Continued good cost control • Develop and improve the various concepts • Refine price & product range • Optimize store operations • Continued private label developement 11
  12. 12. Axfood´s goal for 2010 Is to achieve an operating profit in level with 2009 12
  13. 13. Financial Performance 1 January – 31 December 2009
  14. 14. Axfood AB 1 January – 31 December 2009 • Good profitability • Strong cost control • Stable sales Group, SEK m 2009 2008 Change Net sales 32,378 31,663 +2.3 % Operating profit 1,128 1,077 + 4.7% Operating margin 3.5% 3.4% - 14
  15. 15. Hemköp 1 January – 31 December 2009 Sales Operating profit 5,335 5,640 28 -09 -08 -09 -08 -8 2009 2008 Operating margin 0.5% -0.1% 15
  16. 16. Willys 1 January – 31 December 2009 Sales Operating profit +4.8% 17,589 16,776 731 730 -09 -08 -09 -08 2009 2008 Operating margin 4.2% 4.4% 16
  17. 17. PrisXtra 1 January – 31 December 2009 • Focus on store performance and improving customer offerings SEK m 2009 2008 Change Net sales 725 653 - Operating profit 6 9 - Operating margin 0.8% 1.4% - 17
  18. 18. Axfood Närlivs 1 January – 31 December 2009 • Good development in distributed sales • Stable results SEK m 2009 2008 Change Net sales 5,571 5,662 -1.6% Operating profit 132 110 + 20.0% Operating margin 2.4% 1.9% - 18
  19. 19. Dagab 1 January – 31 December 2009 • Excellent service level • Good development in distributed sales SEK m 2009 2008 Change Net sales 24,052 23,424 + 2.7% Operating profit 147 138 + 6.5% Operating margin 0.6% 0.6% - 19
  20. 20. Other 1 January – 31 December 2009 • Sales: SEK 3,364 m (1,981) • Operating profit: SEK 84 m (98) • Increased internal sales are driven by fruit & vegetables and centrally packed meat 20
  21. 21. Key ratios • Balance sheet, total: SEK 7,173 m (7,350) • Cash flow operating activity: SEK 1,558 m (1,152) • Capex: SEK 633 m (1,158) • Equity ratio: 36.7% (30.7) 21
  22. 22. Strong financial posistion Q1 2006 – Q4 2009 2 000 1,25 Debt, short term, MSEK Debt, long term, MSEK Debt equity ratio mutiple 1 600 1 1 200 0,75 800 0,5 400 0,25 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2006 2007 2008 2009 22
  23. 23. Financial targets & dividend policy • Axfood´s goal for 2010 is to achieve an operating profit in level with 2009 • Equity ratio of at least 25% • Shareholder dividend of at least 50% of profit for the year after tax • For 2009 the board of Directors proposes a dividend of SEK10 (8) • Long term target for operating margin: 4% 23
  24. 24. Summary financial performance • Stable sales and strong result • Efficiency and good cost control • Strong balance sheet & cash flow 24
  25. 25. Time for questions!
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