2010-03-10 presentation at Axfood's 2010 AGM

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2010-03-10 presentation at Axfood's 2010 AGM

  1. 1. Welcome to the Annual General Meeting 2010 Anders Strålman President and CEO
  2. 2. Another successful year for Axfood • Stable growth: 32,378 Mkr (31 663) + 2.3% • Positive operating profit: 1,128 Mkr (1 077) • Operating margin: 3.5% (3.4) 3 We met the objectives in 2009 Objectives 2009 Outcome Operating profit of at Operating profit SEK 1,128 least SEK 1 billion m Equity ratio of at least Satisfied the solvency goal 25% each quarter The board proposes Dividend to shareholders dividend of SEK 10 per of at least 50% of profit share - or 66% after tax of net income quarter Profitability for Hemköp Operating profit SEK 28 m 4
  3. 3. Hemköp • Positive profit despite excluded restructuring costs of SEK 46 m – Operating profit: SEK 28 m (-8) • 2010: Focus on sales growth and improved profitability 5 Willys • Continued solid performance – Operating profit: SEK 731 m (730) • “Sweden’s cheapest bag of groceries”. • 2010: Sales growth and 5 new stores 6
  4. 4. PrisXtra • Not satisfying profitability – Operating profit: SEK 6 m (9) • Reduced sales in two stores due to major roadworks • 2010: Focus on improving profitability and growth 7 Axfood Närlivs • Continued profitability despite fierce competition – Operating profit: SEK 132 m (110) • Axfood Snabbgross showed continued excellent sales performance 8
  5. 5. Dagab • Excellent service levels, 96.8% • Operating profit: SEK 147 m (138) • Cooperation with the Vi Retailers Association was resumed in November 9 New business system • To better support Axfood strategies • The project runs for 5 years • Total investment: SEK 500-600 m 10
  6. 6. Sustainable development • New code of conduct • New sustainability program – Reduce climate impact by 75% by 2020 11 Strong financial posistion Q1 2006 – Q4 2009 2 000 1,25 Debt, short term, SEK m Debt, long term, SEK m 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 2006 2007 2008 2009 12
  7. 7. Dividend • Policy: Dividends to shareholders of at least 50% of profit after tax • The Board proposes a dividend of SEK 10 per share (SEK 8) 13 Market trends 2010 • Continued high price competition • Increased price consciousness among customers • Price inflation remained low 14
  8. 8. Strategy for profitable growth • Stimulate sales • Continued strong cost control • Pursue the development of our concepts • Refine our strategy of pricing and product range • Optimize store operations • Further develop our private labels 15 Axfood 10 years on the stock market Operating profit, SEK m 1 250 1 000 750 500 250 0 -00 -01 -02 -03 -04 -05 -06 -07 -08 -09 16
  9. 9. Objective 2010 Achieve an operating profit in line with 2009 17 Thank you for your attention!

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