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Axfood q3 2011 presentation
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Axfood q3 2011 presentation

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Axfood q3 2011 presentation

Axfood q3 2011 presentation

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  • 1. Axfood July – September, 20111
  • 2. Axfood July – September 2011• Stable sales growth: SEK 8,735 m (8,582), + 1.8%• Good earnings: SEK 370 m (364), +1.6%• Operating margin: 4.2% (4.2)• Good efficiency and cost control• Uncertainty in the market environment2
  • 3. Hemköp July – September 2011• Strengthened result and positive like for like sales• Conversion of Vi-stores to Hemköp franchise started – 17 stores are so far converted – Around 50 stores in total will be converted• Target 2011: 2% EBIT margin3
  • 4. Willys July – September 2011• Stable development and good operating margin• High pace of store modernization• Like for like sales affected by – Weak growth for stores that are still not modernized – New competition4
  • 5. PrisXtra July – September 2011• Result in line with plan• Unsatisfying sales development – Two stores are affected by major road work – Strategic locations in the future• Target 2011: Positive operating profit5
  • 6. Axfood Närlivs July – September 2011• Good sales growth in all areas – New agreements – Good development in e-commerce• New agreement with Svenska Statoil – Supply of newsstand and food retail products from 1 January 20126
  • 7. Dagab July – September 2011• Stable performance – Cost control and efficiency – Good service level, 97.0%• Extensive environmental programme continued7
  • 8. Market trends 2011• Uncertain market development• Competition remains high• Price conscious customers• Increased interest for private label8
  • 9. Strategy for profitable growth 2011• Stimulate sales growth• Cost control and efficiency• High level of establishments and modernization of stores• Increase private label share9
  • 10. Axfood’s goal 2011 To achieve an operating profit at least at the same level as in 201010
  • 11. Financial Overview July – September, 201111
  • 12. Axfood July – September 2011 • Favourable earnings • Good cost control Axfood group, SEK m 2011 2010 Change Net sales 8,735 8,582 + 1.8% Operating profit 370 364 + 1.6% Operating margin 4.2% 4.2% -12
  • 13. Willys July – September 2011 • Stable earnings • Like-for-like sales: -1.3% Sales Operating profit 4,706 4,660 214 212 Operating margin 4.5% -10 -11 -10 -1113
  • 14. Hemköp July – September 2011 • Improved profitability • Like-for-like sales: +0.6% • Target 2011: 2% EBIT margin Sales Operating profit 1,164 1,143 34 Operating margin 11 -10 -11 -10 -11 +4.1% 3.0%14
  • 15. PrisXtra July – September 2011 • Result according to plan • Unsatisfying sales developmentPrisXtra, SEK m 2011 2010 ChangeNet sales 123 143 - 14.0%Operating profit -1 1 -Operating margin - 0.8% 0.7% -15
  • 16. Axfood Närlivs July – September 2011• Good sales growth in all areas – New agreements – Positive development in e-commerceAxfood Närlivs, SEK m 2011 2010 ChangeNet sales 1,714 1,571 + 9.1%Operating profit 44 43 + 2.3%Operating margin 2.6% 2.7% -16
  • 17. Dagab July – September 2011 • Stable development – Good cost control and efficiency Dagab, SEK m 2011 2010 Change Net sales 6,427 6,379 + 0.8% Operating profit 56 58 - 3.4% Operating margin 0.9% 0.9% -17
  • 18. Other July – September 2011• Sales: SEK 1,038 m (993)• Operating profit: SEK 25 m (37) – Amortization of new business system SEK 10 m (4)18
  • 19. Key ratios January – September 2011• Balance sheet, total: SEK 7,911 m (7,367)• Cash flow operating activity: SEK 1,004 m (1,037)• Capex: SEK 696 m (592)• Investment plan 2011: SEK 900 – 1 000 m (862) – Same level is expected for 201219
  • 20. Financial targets & dividend policy• Axfoods goal for 2011 is to achieve an operating profit at least at the same level as in 2010• 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
  • 21. Summary• Good result – Cost control and efficiency• Uncertainty in the market environment21
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