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, the dividend has on average amounted to 91% 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. 2020||31 Dec. 2019||31 Dec. 2018|
|Equity ratio, %||24.3||24.6||37.0|
|Net debt-equity ratio, multiple||1.0||1.2||-0.2|
|Net debt-equity ratio, excl. IFRS 16, multiple||-0.2||-0.1||-0.2|
|Cash flow from operating activities per share, SEK||23.18||16.98||12.89|
|Cash and cash equivalents at year-end, SEK m||1,534||798||1,571|