Axfood
July-September, 2013
Anders Strålman
CEO

1
Axfood July-September 2013

Net sales
• Net sales: SEK 9,465 m
(9,044) +4.7%
– Focus on strong customer offerings and
attr...
Willys July-September 2013

• Good sales growth: SEK 5,092 m
(4,818) +5,7%
– Like-for-like sales: +2.2%
– Successful custo...
Hemköp July-September 2013

• Net sales: SEK 1,341 m (1,338) 0.2%
– Like-for-like sales: 2.3%

• Improved operating profit...
Axfood Närlivs July-September 2013

• Good sales growth: SEK 1,738 m (1,652)
+5.2%
– Favorable weather and strong campaign...
Dagab July-September 2013

• Operating profit: SEK 32 m (47)
– Result affected by cost related to
implementation of the ne...
Market outlook

• Uncertain development in Swedish
economy
• Stable growth in food retail industry
• Around 2 percent food...
Strategy for profitable growth

• Develop the various concepts
– Modernize both Willys and Hemköp stores
– Attractive cust...
Axfood’s estimation 2013

Operating profit at least
at the same level as in 2012

9
Financial overview
July-September, 2013
Karin Hygrell Jonsson
CFO

10
Axfood July-September 2013

• Strong result and sales growth

Net sales, SEK m
Operating margin, %

Key ratios
Q3
2013

Q3...
Willys July-September 2013
• Good sales performance and stable earnings

Net sales, SEK m
Operating margin, %

Key ratios
...
Hemköp July-September 2013
• Stable sales and improved result

Net sales, SEK m
Operating margin, %

Key ratios
Q3
2013

Q...
Axfood Närlivs July-September 2013

• Favorable summer weather had positive impact on sales

Net sales, SEK m
Operating ma...
Dagab July-September 2013

• Increased costs due to implementation of the new
business system
– Will continue to affect th...
Other July-September 2013

• Net sales: SEK 1,284 m (1,113), +15.4%
– Good sales development for fruits & vegetables
and m...
Key ratios January-September 2013
• Balance sheet, total: SEK 8,460 m (8,499)
• Cash flow operating activity: SEK 1,112 m
...
Financial targets & dividend policy

• Axfood's estimation is that operating
profit for 2013 will be at least at the same
...
Summary

• Good sales development and
result
– Increased market share

19
Q&A

20
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Axfood presentation Q3 2013

  1. 1. Axfood July-September, 2013 Anders Strålman CEO 1
  2. 2. Axfood July-September 2013 Net sales • Net sales: SEK 9,465 m (9,044) +4.7% – Focus on strong customer offerings and attractive stores • Operating profit: SEK 382 m (370) +3.2% – Operating margin: 4.0% (4.1) – Positive result for all business units • Continued focus on implementation of new business system 2
  3. 3. Willys July-September 2013 • Good sales growth: SEK 5,092 m (4,818) +5,7% – Like-for-like sales: +2.2% – Successful customer programme had a positive impact on sales – More than 1 million members in the program • Operating profit: SEK 219 m (215) 1.9% – Operating margin: 4.3% (4.5) – Five new stores 3 Net sales
  4. 4. Hemköp July-September 2013 • Net sales: SEK 1,341 m (1,338) 0.2% – Like-for-like sales: 2.3% • Improved operating profit: SEK 42 m (36) – Operating margin: 3.1% (2.7) • New digital customer programme launched in October • A number of stores are being modernized 4 Operating margin
  5. 5. Axfood Närlivs July-September 2013 • Good sales growth: SEK 1,738 m (1,652) +5.2% – Favorable weather and strong campaign offerings had a positive impact on sales • Operating profit: SEK 52 m (50) – Operating margin: 3.0% (3.0) • Implementation of new business system will start in Q4 5 Operating profit
  6. 6. Dagab July-September 2013 • Operating profit: SEK 32 m (47) – Result affected by cost related to implementation of the new business system – System will be installed in the warehouse in Gothenburg during Q4 6
  7. 7. Market outlook • Uncertain development in Swedish economy • Stable growth in food retail industry • Around 2 percent food price inflation expected for the full year 7
  8. 8. Strategy for profitable growth • Develop the various concepts – Modernize both Willys and Hemköp stores – Attractive customer offerings • Development of customer programme • High level of private label share • Continued implementation of new business system 8
  9. 9. Axfood’s estimation 2013 Operating profit at least at the same level as in 2012 9
  10. 10. Financial overview July-September, 2013 Karin Hygrell Jonsson CFO 10
  11. 11. Axfood July-September 2013 • Strong result and sales growth Net sales, SEK m Operating margin, % Key ratios Q3 2013 Q3 2012 Change Net sales 9,465 9,044 4.7% Change in like-for-like sales, % 2.3% 0.0% 2.3 382 370 3.2% 4.0% 4.1% -0.1 254 244 10 SEK m 9 044 9 252 8 950 9 557 4.1 9 465 4.0 3.4 2.8 Operating profit 2.8 Operating margin, % Q3 -12 11 Q4-12 Q1-13 Q2-13 Q3-13 Number of stores, Group-owned
  12. 12. Willys July-September 2013 • Good sales performance and stable earnings Net sales, SEK m Operating margin, % Key ratios 4 927 4 919 5 174 4.5 4.1 3.9 5 092 4.3 3.5 Q3 2012 Change Net sales 4 818 Q3 2013 5,092 4,818 5.7% Change in like-for-like sales, % 2.2% -0.1% 2.3 219 215 1.9% 4.3% 4.5% -0.2 184 172 12 SEK m Operating profit Operating margin, % Q3 -12 12 Q4 -12 Q1-13 Q2-13 Q3-13 Number of stores
  13. 13. Hemköp July-September 2013 • Stable sales and improved result Net sales, SEK m Operating margin, % Key ratios Q3 2013 Q3 2012 Change Net sales 1,341 1,338 0.2% Change in like-for-like sales, %, Group-owned 2.3% 0.2% 2.1 42 36 16.7% 3.1% 2.7% 0.4 70 111 67 114 3 -3 1 474 1 407 1 338 1 392 1 341 SEK m Operating profit 3.9 3.2 2.7 3.1 2.1 Operating margin, % Number of stores Q3 -12 13 Q4 -12 Q1-13 Q2-13 Q3-13 Group-owned Franchise
  14. 14. Axfood Närlivs July-September 2013 • Favorable summer weather had positive impact on sales Net sales, SEK m Operating margin, % Key ratios Q3 2013 Q3 2012 Change Net sales 1,738 1,652 5.2% Distributed sales 1,614 1,512 6.7% 52 50 4.0% 3.0% 3.0% - 20 20 - 97.5 97.8 -0.3 SEK m 1 652 1 728 1 738 1 570 1 427 3.0 3.0 2.4 Operating profit 1.8 Operating margin, % 0.8 Q3 -12 Q4 -12 Q1-13 Number of stores, Axfood Snabbgross Q2-13 Q3-13 Delivery reliability, % 14
  15. 15. Dagab July-September 2013 • Increased costs due to implementation of the new business system – Will continue to affect the result during 2013 Net sales, SEK m Operating margin, % Key ratios Q3 2013 Q3 2012 Change Net sales 6,346 6,000 5.8% Distributed sales 4,421 4,189 5.5% 32 47 -31.9% 0.5% 0.8% -0.3 SEK m 6 000 0.8 6 348 6 194 6 400 6 346 0.7 Operating profit 0.5 0.5 Operating margin, % 0.2 Q3 -12 15 Q4 -12 Q1-13 Q2-13 Q3-13
  16. 16. Other July-September 2013 • Net sales: SEK 1,284 m (1,113), +15.4% – Good sales development for fruits & vegetables and meat • Operating profit: SEK 37 m (22) – Amortization of new business system with SEK 17 m (15) 16
  17. 17. Key ratios January-September 2013 • Balance sheet, total: SEK 8,460 m (8,499) • Cash flow operating activity: SEK 1,112 m (1,385) – Previous year was affected by lower tax payments • Capex: SEK 551 m (679) – Investment plan 2013: SEK 800-900 m – Investment plan 2014: In level with 2013 Capital expenditure SEK m 1 000 800 600 400 200 0 -09 17 -10 -11 -12
  18. 18. Financial targets & dividend policy • Axfood's estimation is that operating profit for 2013 will be at least at the same level as in 2012 • Equity ratio of at least 25% • Shareholder dividend of at least 50% of profit for the year after tax • Long term target for an operating margin of 4% 18
  19. 19. Summary • Good sales development and result – Increased market share 19
  20. 20. Q&A 20
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