Axfood q3 2012

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Axfood q3 2012

  1. 1. Axfood January-September, 20121
  2. 2. Axfood Q3 2012 Net sales• Favourable sales: SEK 9,044 m (8,735) +3.5% 9,044 +3.5%• Stable earnings: SEK 368 m (370)• Operating margin: 4.1% (4.2)• Positive result for all business units2
  3. 3. Hemköp – Good sales growth• Good sales performance: SEK 1,225 m (1,143), +7.2% – Like-for-like sales: +1.1%• Stable profit: SEK 32 m (34) – Operating margin: 2.6% (3.0)• Increased marketing activities Net sales• Target 2012: 3% operating margin +7.2%3
  4. 4. Willys – Best third quarter result ever• Stable sales growth: SEK 4,818 m (4,706), +2.4%• Good result: SEK 215 m (212) +1.4% – Operating margin: 4.5% (4.5)• 93 stores are now modernized – Remaining 20 stores in the renewal program Operating profit will be modernized during the coming year 215 +1.4%4
  5. 5. PrisXtra – Continued positive result• Decrease in sales due to major road constructions – Net sales: SEK 113 m (123), -8.1% – Future strategic locations• Positive result: SEK 4 m (-1)5
  6. 6. Axfood Närlivs – Wholesale operation Net sales• Favourable sales growth mainly credited to +11.4% deliveries to new customers – Net sales: SEK 1,652 m (1,483), +11.4% – Like-for-like sales affected by bad weather conditions• Operating profit: SEK 50 m (44), +13.6%6
  7. 7. Dagab – Efficient logistics• Stable development – Efficiency and high delivery reliability• Operating profit: SEK 46 m (56)• Result affected by: – Increased costs due to implementation of the new business system Delivery reliability 97.3%7
  8. 8. Increased private label share• Reached target of 25% private label share Private label share % 25 20 15 10 5 0 -01 -03 -05 -07 -09 -118
  9. 9. Market outlook 2012• Uncertain market development• Food price inflation at low levels• Continued tough competition• Price conscious customers9
  10. 10. Strategy for profitable growth• Further stimulate sales growth – Well operated stores• High level of private label• Efficiency and cost control• Ambitious pace of investment – Continued high pace in store renewals – Implementation of the new business system continues10
  11. 11. Axfood’s goal for 2012 Achieve an operating profitat the same level as in 201111
  12. 12. Financial Overview January-September, 201212
  13. 13. Axfood Q3 2012 Net sales, SEK m Operating margin, % Key ratios Q3 Q3 Change 8,914 9,292 SEK m 2012 2011 8,735 8,718 9,044 Net sales 9,044 8,735 3.5% Change in like-for-like sales, 0.0% -0.8% 0.8 % 4.2 4.2 4.1 3.6 3.4 Operating profit 368 370 -0.5% 2.8 Operating margin, % 4.1% 4.2% -0.1 Number of stores, Q3 -11 Q4 -11 Q1 -12 Q2 -12 Q3 -12 244 232 12 Group-owned13
  14. 14. Willys Q3 2012 Net sales, SEK m Operating margin, % Key ratios Q3 Q3 Change 4,961 SEK m 2012 2011 4,848 4,701 4,818 4,706 Net sales 4,818 4,706 2.4% Change in like-for-like sales, -0.1% -1.3% 1.2 4.5 4.5 % 4.1 4.4 3.6 Operating profit 215 212 1.4% Operating margin, % 4.5% 4.5% - Q3 -11 Q4 -11 Q1 -12 Q2 -12 Q3 -12 Number of stores 172 166 614
  15. 15. Hemköp Q3 2012 Net sales, SEK m Operating margin, % Key ratios Q3 Q3 Change SEK m 2012 2011 1,255 1,271 1,225 1,239 1,143 Net sales 1,225 1,143 7.2% Change in like-for-like sales, 1.1% 0.6% 0.5 %, Group-owned Operating profit 32 34 - 5.9% 3.0 2.6 1.9 1.9 1.7 Operating margin, % 2.6% 3.0% - 0.4 Number of stores Q3 -11 Q4 -11 Q1 -12 Q2 -12 Q3 -12 Group-owned 67 61 6 Franchise 114 97 1715
  16. 16. PrisXtra Q3 2012 Net sales, SEK m Operating margin, % Key ratios Q3 Q3 Change SEK m 2012 2011 132 140 130 113 Net sales 113 123 -8.1% 113 Change in like-for-like sales, 3.6 3.0 3.8 3.5 -8.1% -8.9% 0.8 % Operating profit 4 -1 -0.8 Operating margin, % 3.5% -0.8% 4.3 Q3 -11 Q4 -11 Q1 -12 Q2 -12 Q3 -12 Number of stores 5 5 -16
  17. 17. Axfood Närlivs Q3 2012 Net sales, SEK m Operating margin, % Key ratios Q3 Q3 Change SEK m 2012 2011 1,673 1,652 1,483 Net sales 1,652 1,483 11.4% 1,382 1,441 3.0 3.0 Distributed sales 1,512 1,338 13.0% 1.7 Operating profit 50 44 13.6% 1.7 Operating margin, % 3.0% 3.0% - 0.6 Number of stores, 20 20 - Q3 -11 Q4 -11 Q1 -12 Q2 -12 Q3 -12 Axfood Snabbgross Delivery reliability, % 97.8 97.4 0.417
  18. 18. Dagab Q3 2012 Net sales, SEK m Operating margin, % Key ratios Q3 Q3 Change SEK m 2012 2011 6,273 6,264 6,000 6,016 6,022 Net sales 6,000 6,016 -0.3% Distributed sales 4,189 4,193 -0.1% 0.9 0.9 0.6 0.8 Operating profit 46 56 -17.9% 0.5 Operating margin, % 0.8% 0.9% -0.1 Q3 -11 Q4 -11 Q1 -12 Q2 -12 Q3 -12 Delivery reliability, % 97.3 97.0 0.318
  19. 19. Other Q3 2012• Sales: SEK 1,113 m (1,038), +7.2%• Operating profit: SEK 21 m (25) – Includes amortization of new business system19
  20. 20. Key ratios January-September 2012• Balance sheet, total: SEK 8,482 m (7,911)• Cash flow operating activity: SEK 1,385 m (1,004)• Capex: SEK 679 m (696) – Investment plan 2012: SEK 900 – 1,000 m (993) – Same level is expected for 201320
  21. 21. Financial targets & dividend policy• Axfoods goal for 2012 is to achieve an operating profit at the same level as in 2011• Equity ratio of at least 25%• Shareholder dividend of at least 50% of profit for the year after tax• Long term target for an operating margin of 4%21
  22. 22. Summary• Stable result and sales development• Efficiency and good cost control22
  23. 23. Axfood Q&A23

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