H1 2018 in brief
Meny

Axfood closer to the climate-neutral target.

 

Download Interim Report (H1) 2018, pdf

In H1 Axfood showed an operating profit above the long term target of at least 4%.

Download Interim Report (H1) 2018, pdf

Axfood is digitalizing for the future – digital receipts, e-commerce and investment in online pharmacy.

Download Interim Report (H1) 2018, pdf

CEO'S MESSAGE

 

 

 

 

 

 

 

Strong earnings in all segments

 

Axfood delivered yet another strong quarter with good growth and profitability. Despite high comparison figures and the negative calendar effect from Easter, it was positive to note that all segments showed favourable performance. The warm summer weather resulted in a changed sales mix, which benefited our margins. We summed up a record profit for a second quarter in which both Willys and Hemköp strongly improved their earnings. The strong growth in online continued, and with growing volumes comes a lower burden on earnings.

Klas Balkow, President and CEO

 

Read entire CEO’s comments

 

VISION AND STRATEGY

Leader in good and sustainable food

We have refined our vision, mission and business concept to chart the course for the Group’s way forward. Axfood is made up of successful and distinctive food concepts. Close collaboration makes the companies stronger and more efficient. To fulfil our vision of being the leader at good and sustainable food, Axfood focuses on six strategic areas.


Customer offering


Customer meeting


Expansion


Supply chain


Work approach


Our people

 

Download strategy section, pdf

KEY FIGURES

Net sales,
H1 2018

23,665

 

SEK m

Operating profit,
H1 2018

980

 

SEK m

Operating margin,
H1 2018

4.1%

 

Ordinary dividend per share
7.00SEK


Dividend yield

4.4%

Total return last 5 years

219%
 

Net sales, SEK m
 
 
 
 
 
 
 
 
 
 
 
 
37,52238,48441,24743,35545,968
2013
2014
2015
2016
2017
 
 
 
 
 
0
 
10000
 
20000
 
30000
 
40000
 
50000
 
60000
 
  2013 2014 2015 2016 2017
Net sales, SEK m 37,522 38,484 41,247 43,355 45,968
Operating profit, SEK m
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,3021,4471,7601,9021,886
2013
2014
2015
2016
2017
 
 
 
 
 
0
 
250
 
500
 
750
 
1000
 
1250
 
1500
 
1750
 
2000
 
2250
 
  2013 2014 2015 2016 2017
Operating profit, SEK m 1,302 1,447 1,760 1,902 1,886
Operating margin, %
 
 
 
 
 
 
 
 
 
 
 
3.53.84.34.44.1
2013
2014
2015
2016
2017
 
 
 
 
 
0
 
1
 
2
 
3
 
4
 
5
 
  2013 2014 2015 2016 2017
Operating margin, % 3.5 3.8 4.3 4.4 4.1
Ordinary dividend/share, SEK
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.754.255.006.007.00
2013
2014
2015
2016
2017
 
 
 
 
 
0
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
8
 
  2013 2014 2015 2016 2017
Ordinary dividend/share, SEK 3.75 4.25 5.00 6.00 7.00
Dividend yield, %
 
 
 
 
 
 
 
 
 
 
 
 
 
4.63.66.14.14.4
2013
2014
2015
2016
2017
 
 
 
 
 
0
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
  2013 2014 2015 2016 2017
Dividend yield, % 4.6 3.6 6.1 4.1 4.4

EMPLOYEES

Diversity creates business benefit

Axfood aspires to reflect the communities that we are a part of. This should be noticeable in the product offering, but also among our employees. Diversity creates business benefit and makes us even better at meeting our customers’ varying preferences and needs.
 
Today the share of managers with an international background is to 13%

Read more about our employees, pdf

 

Axfood reflects Swedish society today

 

22%

 

of Axfood’s employees have an international background

 

 

Personal development within Axfood is important; every

 

20

 

minutes an e-learning course is started, 24 hours a day​​

 

SUSTAINABILITY

On track to climate neutrality

Axfood aspire to be a positive force for change in society. By taking a stance, inspiring and daring, we are driving ourselves and the industry towards greater sustainability. We have an ambitious overall environmental target – Axfood will be climate-neutral by 2020. From 2009 through 2017 Axfood reduced its carbon footprint by 84%. During 2017 the largest reduction in our environmental footprint has been achieved in our refrigeration and freezer systems.

Axfood's climat footprint

 
 
 
 
 
 
 
 
 
 
 
 
2009
2014
2015
2016
2017
 
 
 
 
 
0
 
20000
 
40000
 
60000
 
80000
 
100000
 
120000
 
tonnes CO2e
-100
 
-80
 
-60
 
-40
 
-20
 
0
 
%
CO2 emissions  
Change vs. base year 2009
  2009 2014 2015 2016 2017
CO<sub>2</sub> emissions   98838 47197 26653 20761 16008
Change vs. base year 2009 10 -52 -73 -79 -84


Sweden’s cheapest bag of groceries – with good food for everyone

 

Willys is Sweden’s leading discount grocery chain, offering a wide assortment at 208 stores, of which 8 are part of the newly acquired cross-border shopping chain Eurocash. Willys will continue to develop the discount segment by offering Sweden’s cheapest bag of groceries – both in stores and online.

Net sales

13,331

SEK m

Growth7.8%

 

Operating margin4.1%
 

 


Passion for food and inspiration

 

Hemk p offers an attractively priced and wide assortment, with a rich offering of fresh products. Through its 69 Group-owned stores and 117 retailer-owned stores, Hemköp aims to inspire passion for food and make it easy for customers to find good meal solutions. Starting in 2018, Hemköp includes the Tempo brand, with 160 franchise stores.

Net sales3,215

 

SEK m

Growth
4.0%

 

Operating margin4.2%

 

 


The restaurant wholesaler with Sweden’s largest store network

 

Axfood Snabbgross is the Group’s restaurant wholesaler with a customer base comprising restaurants, fast food vendors, cafés and other business customers. Through 24 Group-owned stores Axfood Snabbgross offers personal service, good accessibility and quality.

Net sales

1,540

SEK m

Growth

6.6%

 

Operating margin

3.3%

 

 


Efficient and innovative business

 

Dagab is the support company for the Group’s purchasing and logistics operations. Dagab is responsible for an efficient flow of products and logistics. Warehousing is conducted through seven distribution centres. Dagab also includes newly acquired mat.se, Middagsfrid and Apohem.

Net sales

20,899

 

SEK m

Growth

2.3%

 

Operating margin

1.7%