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 90% 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. 2019||31 Dec. 2018||31 Dec. 2017|
|Equity ratio, %||24.6||37.0||39.0|
|Net debt-equity ratio, multiple||1.2||-0.2||-0.2|
|Net debt-equity ratio, excl. IFRS 16, multiple||-0.1||-0.2||-0.2|
|Cash flow from operating activities per share, SEK||17.0||12.9||12.1|
|Cash and cash equivalents, SEK m||798||1,571||1,376|