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 the business model generates a stable cash flow. During the last five years to 2022, the ordinary dividend has averaged 83% of profit after tax. 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. 2022||31 Dec. 2021||31 Dec. 2020|
|Equity ratio, %||24.1||21.8||24.3|
|Net debt-equity ratio, multiple||1.3||1.5||1.0|
|Net debt-equity ratio, excl. IFRS 16, multiple||0.0||0.2||-0.2|
|Cash and cash equivalents at year-end, SEK m||559||734||1,534|