2009-10-21 Presentation at media and analyst meeting

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2009-10-21 Presentation at media and analyst meeting

  1. 1. Axfood AB 1 January – 30 September 2009
  2. 2. Axfood AB 1 January – 30 September 2009 • Consolidated sales : SEK 23,947 m (23,519), an increase of 1.8% • Good operating profit: SEK 838 m (800) • Operating margin: 3.5% (3.4) 2
  3. 3. Hemköp 1 January – 30 September 2009 • Positive result despite restructuring costs – Improved cost control – Increased gross profit • Focus on improving sales • Continued high pace in action programme for underperforming stores 3
  4. 4. Willys 1 January – 30 September 2009 • Continued good performance • Leading position in soft discount – Good store operations – Attractive mix between price & assortment – Increased marketing activities • Renewal of concept according to plan, so far 24 stores 4
  5. 5. PrisXtra 1 January – 30 September 2009 • New president • Decrease in sales for two stores due to major road work • Focus on improving sales 5
  6. 6. Axfood Närlivs 1 January – 30 September 2009 • Renewed contract with EMAB • Good development despite fierce competition • Cash & Carry showed very strong performance 6
  7. 7. Dagab 1 January – 30 September 2009 • Continued excellent service level • Implementation of Autoorder continued as planned 7
  8. 8. Well positioned in a weak economy • Continued strong price competition and weak economy • Increased price consciousness among customers % • We will continue offering Private label share 25 competitive prices 20 • Development of private label 15 10 5 0 -01 -02 -03 -04 -05 -06 -07 -08 8
  9. 9. Unchanged strategy for profitable growth • Continued strong cost control • Continued focus on sales growth • Develop and improve the various concepts • Good price & product range • Greater efficiency 9
  10. 10. Axfood´s goal for 2009 Axfood´s goal for 2009 is to achieve an operating profit of at least SEK 1 billion 10
  11. 11. Financial Performance 1 January – 30 September 2009
  12. 12. Axfood AB 1 January – 30 September 2009 • Strong cost control • Good profitability • Stable sales Group, SEK m 2009 2008 Change Net sales 23,947 23,519 +1.8 % Operating profit 838 800 + 4.8% Operating margin 3.5% 3.4% - 12
  13. 13. Hemköp 1 January – 30 September 2009 Sales Operating profit 3,977 4,189 22 -09 -08 -09 -08 -18 2009 2008 Operating margin 0.6% -0.4% 13
  14. 14. Willys 1 January – 30 September 2009 Sales Operating profit +5.2% 13,062 12,421 543 549 -09 -08 -09 -08 2009 2008 Operating margin 4.2% 4.4% 14
  15. 15. PrisXtra 1 January – 30 September 2009 • Main focus on sales growth and store performance SEK m 2009 2008 Change Net sales 542 450 - Operating profit 4 8 - Operating margin 0.7% 1.8% - 15
  16. 16. Axfood Närlivs 1 January – 30 September 2009 • High level of delivery reliability • Good development despite competitive market SEK m 2009 2008 Change Net sales 4,190 4,268 -1.8% Operating profit 106 88 + 20.5% Operating margin 2.5% 2.1% - 16
  17. 17. Dagab 1 January – 30 september 2009 • Excellent service level SEK m 2009 2008 Change Net sales 17,774 17,374 + 2.3% Operating profit 98 93 + 5.4% Operating margin 0.6% 0.5% - 17
  18. 18. Other 1 January – 30 September 2009 • Sales: SEK 2,460 m (1,411) • Operating profit: SEK 65 m (80) • Increased sales are driven by fruit & vegetables and centrally packed meat • Lower overhead costs • Changes in internal pricing since Q3 2008 has affected the operating profit for the two first quarters 2009 18
  19. 19. Key ratios • Balance sheet, total: SEK 7,025 m (7,195) • Cash flow operating activity: SEK 1,017 m (754) • Capex: SEK 439 m (939) • Equity ratio: 34.6% (28.7) 19
  20. 20. Strong financial posistion Q1 2006 – Q3 2009 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 2006 2007 2008 2009 20
  21. 21. Financial targets & dividend policy • Axfood´s goal for 2009 is to achieve an operating profit of at least SEK 1 billion • Equity ratio of at least 25% • Shareholder dividend of at least 50% of profit for the year after tax, for 2008 the dividend was SEK 8 (12) • Long term target for operating margin: 4% 21
  22. 22. Summary financial performance • Good results • Efficiency and good cost control • Strong balance sheet & cash flow 22
  23. 23. Time for questions!

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