Axfood q3 2011 presentation

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Axfood q3 2011 presentation

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Axfood q3 2011 presentation

  1. 1. Axfood July – September, 20111
  2. 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. 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. 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. 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. 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. 7. Dagab July – September 2011• Stable performance – Cost control and efficiency – Good service level, 97.0%• Extensive environmental programme continued7
  8. 8. Market trends 2011• Uncertain market development• Competition remains high• Price conscious customers• Increased interest for private label8
  9. 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. 10. Axfood’s goal 2011 To achieve an operating profit at least at the same level as in 201010
  11. 11. Financial Overview July – September, 201111
  12. 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. 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. 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. 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. 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. 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. 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. 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. 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. 21. Summary• Good result – Cost control and efficiency• Uncertainty in the market environment21
  22. 22. 22

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