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Annual and Sustainability Report 2023

In changing times, another successful year for Axfood is summarised with high growth, increased market share and major strides towards increased competitiveness through investments in digitalisation, automation and the customer offering.

Key ratios 2023


Net sales, SEK m


Operating profit, SEK m


Operating margin


Earnings per share before dilution, SEK

Logistics structure development

In 2023, the Group’s new highly automated logistics centre in Bålsta outiside Stockholm was put into operation. The facility provides Axfood with a sustainable, efficient, and competitive product supply.

Phasing out fossil fuels

Axfood is accelerating the phase-out of fossil fuels. Over a two-year period, the company’s transportation will transition to run on renewable fuel or electricity, five years ahead of the original plan.

Strategy for biodiversity

Axfood have developed a strategy to describe how work is to be conducted to preserve and support biodiversity. The strategy includes several areas such as purchasing and sale of goods, food waste and establishing new stores.

Solar power initiatives

Axfood is constructing Sweden’s largest onshore solar park in Hallstavik. The goal is to ensure a sustainable and efficient supply of green electricity in the long term, while also contributing renewable energy to the market.

Klas Balkow, President and CEO

While we focus on delivering affordable, good and sustainable food here and now, and increasing efficiency in operations, we also work intensively to address our most long-term challenges.
Alexander Bergendorf, Head of Investor Relations

Investor Relations

Alexander Bergendorf

Head of Investor Relations

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