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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.

Growth

Axfood will grow faster than the market. During 2020 Axfood’s store sales increased by 8.7% (6.0%), while growth for the market was 7.6% (3.1%), according to the Swedish Food Retailers Federation. 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% over the long term. In 2020 the
operating margin was 4.7% (4.5%), which is in line with the Group’s long-term target.

Equity ratio

As a consequence of adoption of IFRS 16, the equity ratio shall amount to at least 20% at year-end. As per 31 December 2020 the equity ratio was 24.3% (24.6%), which is in line with the Group’s target.