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2010-10-26 presentation at media and analyst meeting Q3

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    2010-10-26 presentation at media and analyst meeting Q3 2010-10-26 presentation at media and analyst meeting Q3 Presentation Transcript

    • Axfood AB Interim Report July – Sept, 2010 1
    • Axfood AB July - September 2010 • Consolidated sales: SEK 8,582 m (8,049), an increase of 6.6% • Stable operating profit: SEK 364 m (335) • Operating margin: 4.2% (4.2) • Strengthened market position 2
    • Willys July - September 2010 • Strong results • Like for like sales affected by increased competition • Increased market share – Growing number of stores – Improved shopping experience – Right price and product mix 3
    • Hemköp July - September 2010 • Positive result and like for like sales – Successful marketing strategy • New store in Stockholm City • Targeting EBIT margin of 1% 2010 4
    • PrisXtra July - September 2010 • Unsatisfying development • Decrease in sales for two stores due to major road work • Possible positive EBIT for full year 5
    • Axfood Närlivs July - September 2010 • Increased sales and market share – New agreements – Relatively good weather conditions • EBIT margin affected by competitive market 6
    • Dagab July - September 2010 • Strong service level • Good cost control • Satisfying cooperation with Vi-stores 7
    • Market trends 2010 • Soft food retail market • Food price inflation on moderate levels • Fierce competition • Price conscious customers 8
    • Strategy for profitable growth • Develop the various concepts • Optimize store operations • Stimulate sales growth • Good cost control and efficiency 9
    • Axfood´s goal for 2010 To achieve an operating profit at least at the same level as in 2009 10
    • Financial Performance July – Sep, 2010 11
    • Axfood AB July - September 2010 • Strong result – Improved operating profit Group, SEK m 2010 2009 Change Net sales 8,582 8,049 +6.6 % Operating profit 364 335 + 8.7% Operating margin 4.2% 4.2% - 12
    • Willys July - September 2010 Sales Operating profit +6.3% +7.5% 4,660 4,384 214 199 -10 -09 -10 -09 2010 2009 Operating margin 4.6% 4.5% 13
    • Hemköp July - September 2010 Sales Operating profit 1,164 1,276 19 11 -10 -09 -10 -09 2010 2009 Operating margin 0.9% 1.5% 14
    • PrisXtra July - September 2010 • Decrease in sales for two stores due to major road work PrisXtra, SEK m 2010 2009 Change Net sales 143 155 - 7.7% Operating profit 1 1 0 Operating margin 0.7% 0.6% - 15
    • Axfood Närlivs July - September 2010 • Good sales developement – Distributed sales increased by 5.5 % Axfood Närlivs, SEK m 2010 2009 Change Net sales 1,571 1,498 + 4.9% Operating profit 43 52 - 17.3% Operating margin 2.7% 3.5% - 16
    • Dagab July - September 2010 • Stable development • Good cost control and efficiency Dagab, SEK m 2010 2009 Change Net sales 6,379 5,946 + 7.3% Operating profit 58 38 + 52.6% Operating margin 0.9% 0.6% - 17
    • Other July - September 2010 • Sales: SEK 993 m (845) • Operating profit: SEK 37 m (26) 18
    • Key ratios January - September 2010 • Balance sheet, total: SEK 7,367 m (7,025) • Cash flow operating activity: SEK 1 037 m (1 017) • Capex: SEK 592 m (439) • Equity ratio: 37.2% (34.6) 19
    • Financial targets & dividend policy • Axfood's goal for 2010 is to achieve an operating profit at least at the same level as in 2009 • Equity ratio of at least 25% • Shareholder dividend of at least 50% of profit for the year after tax • Long term target for operating margin: 4% 20
    • Summary • Stable development • Strong result • Increased market share 21
    • Time for questions! 22