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Financial position

Financial position

According to Axfood’s finance policy, the foundation of the Axfood Group’s financial strategy is to create sound financial conditions for the Group’s operations and development.

Axfood has a solid balance sheet and a stable cash flow with efficient management of working capital. According to Axfood’s dividend policy, the shareholder dividend is to be at least 50% of profit after tax and is to be paid out on two occasions. Historically, after payment of the dividend, Axfood has built up a net debt receivable during the year. Adoption of IFRS 16 has resulted in an accounting shift from a net receivable to a net debt position.

The Group’s external financing from credit institutions (mainly banks) is conducted by the Parent Company, while subsidiaries finance their operations through the central Group account systems.

  31 Dec. 2023 31 Dec. 2022 31 Dec. 2021
Equity ratio, % 23.9 24.1 21.8
Net debt-equity ratio, multiple 1.3 1.3 1.5
Net debt-equity ratio, excl. IFRS 16, multiple 0.0 0.0 0.2
Cash and cash equivalents at year-end, SEK m 688 559 734