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Axfood q2 2010_presentation
 

Axfood q2 2010_presentation

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Axfood q2 2010 presentation in english

Axfood q2 2010 presentation in english

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    Axfood q2 2010_presentation Axfood q2 2010_presentation Presentation Transcript

    • Axfood AB Interim Report April – June, 2010 1
    • Axfood AB April - June 2010 • Consolidated sales: SEK 8,583 m (8,216), an increase of 4.5% • Stable operating profit: SEK 279 m (269) • Operating margin: 3.3% (3.3) • Like for like sales: -1.9% • High activity in all areas 2
    • Willys April - June 2010 • Stable and profitable development • Like for like sales affected by competition and a weak food retail market • Increased market share • High pace in store establishments – Six new stores – Number of stores: 159 (142) 3
    • Hemköp April - June 2010 • Positive result and like for like sales – Successful marketing strategy • Changes in store structure – Number of Group-owned stores: 65 (76) • Targeting EBIT margin of 1% 2010 4
    • PrisXtra April - June 2010 • Unsatisfying development • Decrease in sales for two stores due to major road work • Possible positive EBIT for full year 5
    • Axfood Närlivs April - June 2010 • Acquisition of cold-storage distribution centre • New delivery agreements – Reitan Servicehandel Sverige AB (5 years) – Preem (2 years) 6
    • Dagab April - June 2010 • Best service level ever in June: 97.8% • Good cost control • Satisfying cooperation with Vi-stores 7
    • Market trends 2010 • No major changes in the market conditions • Continued fierce competition • Price conscious customers • Price inflation remain at low levels 8
    • Strategy for profitable growth • Good cost control and efficiency • High pace in store establishments • Develop the various concepts • Optimize customer offerings 9
    • Axfood´s goal for 2010 To achieve an operating profit at least in level with 2009 10
    • Financial Performance April – June, 2010 11
    • Axfood AB April - June 2010 • Improved operating profit • Like for like sales: -1.9% Group, SEK m 2010 2009 Change Net sales 8,583 8,216 +4.5 % Operating profit 279 269 + 3.7% Operating margin 3.3% 3.3% - 12
    • Willys April - June 2010 Sales Operating profit +3,9% 4,665 4,492 195 177 -10 -09 -10 -09 2010 2009 Operating margin 4.2% 3.9% 13
    • Hemköp April - June 2010 Sales Operating profit 1,224 1,344 10 -09 -10 -09 -10 -10 2010 2009 Operating margin 0.8% - 0.7% 14
    • PrisXtra April - June 2010 • Decrease in sales for two stores due to major road work PrisXtra, SEK m 2010 2009 Change Net sales 161 175 - 8.0% Operating profit -3 3 - Operating margin - 1.9% 1.7% - 15
    • Axfood Närlivs April - June 2010 • Stable development – Distributed sales increased by 3.8 % Axfood Närlivs, SEK m 2010 2009 Change Net sales 1,491 1,468 + 1.6% Operating profit 34 38 - Operating margin 2.3% 2.6% - 16
    • Dagab April - June 2010 • Successfull cooperation with Vi-stores • Service level in June: 97.8% Dagab, SEK m 2010 2009 Change Net sales 6,422 6,159 + 4.3% Operating profit 34 36 - Operating margin 0.5% 0.6% - 17
    • Other January - June 2010 • Sales: SEK 1 026 m (887) • Operating profit: SEK 9 m (25) • Lower result due to negative effect of the reduction of profit in internal inventories 18
    • Key ratios • Balance sheet, total: SEK 7,556 m (7,129) • Cash flow operating activity: SEK 708 m (695) • Capex: SEK 454 m (319) • Equity ratio: 32.9% (30.7) 19
    • Strong financial position Q1 2006 – Q2 2010 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 Q1 Q2 2006 2007 2008 2009 2010 20
    • Financial targets & dividend policy • Axfood´s goal for 2010 is to achieve an operating profit at least in level with 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% 21
    • Time for questions! 22