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Financial targets

Financial targets

Axfood manages and continuously monitors the Group’s operations based on a set of strategic Group-wide targets. By maintaining a strong financial position and sustainable operations, scope and conditions are created for long-term profitable growth.


Axfood will grow faster than the market. In 2021, Axfood’s store sales increased by 1.9% (8.7), while growth for the market was 1.3% (7.6), according to the Swedish Food Retailers Federation and HUI Research. Axfood thereby grew more than the market and increased its market share, which is in line with the Group’s target.

Operating margin

The operating margin will be at least 4.5% over the long term. In 2021, the target was raised from the previous level of a minimum of 4.0%. The operating margin in 2021 was 4.7% (4.7).

Equity ratio

The equity ratio is to amount to at least 20% at year-end. The target was revised in 2019 as a consequence of adoption of IFRS 16. As of 31 December 2021, the equity ratio was 21.8% (24.3).