Skip directly to content
  • Sidan är inte tillgänglig på svenska sv
  • en

Good growth and stable profitability

20 April 2017

President and CEO Klas Balkow’s comments on the first quarter:
− Axfood showed good growth in an otherwise soft market. With sales growth of more than 3%, Axfood gained additional market shares during the first quarter. All concepts continued to grow and showed stable profitability.     
     During the quarter we increased our e-commerce initiatives. The integration of mat.se is being carried out with full strength, and more customers can shop online from Willys and Hemköp. This gives us favourable conditions to strengthen our position in the rapidly growing online segment.

First quarter summary

  •  Consolidated net sales amounted to SEK 10,639 m (10,305), an increase of 3.2%.
  •  Operating profit was SEK 397 m (408), corresponding to an operating margin of 3.7% (4.0%).
  •  Net profit for the period was SEK 309 m (316), and earnings per share were SEK 1.47 (1.51).
  •  Klas Balkow took office as President and CEO on 16 March.
  •  Axfood completed the offer to acquire all of the shares in Matse Holding AB on 31 January. Axfood’s holding as per 31 March was more than 99% of the shares.
  •  The Swedish Competition Authority approved the acquisition of Eurocash Food AB, and the company is thereby consolidated in the Axfood Group as from 1 April 2017. Approval from the EU Competition Authority is still pending for Norgesgruppen’s share of the acquisition (49%).
  •  Axfood is focusing on growth and new investments, and the forecast is an operating profit in 2017 that is level with the outcome for 2016.

Significant events after the balance sheet date

  •  Axfood’s board of directors has decided to carry out share repurchases of a maximum of 200,000 shares coupled to the long-term share-based incentive programme. Repurchases can take place starting on 15 May. Axfood currently has no holdings of treasury shares.  

Welcome to today’s presentation where President and CEO Klas Balkow together with Acting CFO Anders Lexmon present the first quarter 2017. The presentation will be held at Hemköp’s “Rekobutik”, Norra Stationsgatan 80 A, at 9 a.m. The presentation can also be followed via axfood.se or monitored by phone:
Sweden: +46 8 566 426 66
Great Britain: +44 203 0089 804
USA: +1 855 8315 945.

Related media

Good growth and stable profitability (pdf)

Axfood aspires to be the leader in affordable, good and sustainable food. Our family of companies includes the store chains Willys and Hemköp as well as Tempo and Handlar’n. B2B sales are handled through Snabbgross, and our support company Dagab is responsible for the Group’s product development, purchasing and logistics. The Axfood family also includes Middagsfrid and Urban Deli as well as the partly owned companies Apohem, Eurocash and City Gross. Together the Group has more than 13,000 employees and sales of approximately SEK 80 billion. Axfood has been listed on Nasdaq Stockholm since 1997, and the principal owner is Axel Johnson AB. Read more at axfood.com.

Subscribe