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Financial targets

Axfood’s strategic target supports the Group’s strategy to achieve profitable growth, drive work with environmental issues, and to have committed employees who reflect the diversity of the society they work in.

Growth

Axfood will grow faster than the market, a new target set in 2018.

During 2019, Axfood's store sales (including Hemköp franchises) increased by 6.0% (5.3%), while growth for the market was 3.1% (3.0%), according to the Swedish Food Retail Index. Axfood thereby grew its market share.

Operating margin

Long-term operating margin of at least 4%.

The long-term target was reached in 2019, with an operating margin of 4.5% (4.2%). IFRS 16 had a positive effect on the operating margin of 0.3 percentage points.

Equity ratio

As a consequence of adoption of IFRS 16, the equity ratio shall amount to at least 20% at year-end. Previously the target was an equity ratio of at least 25% during all quarters.

The equity ratio on 31 December 2019 was 24.6%.