Axfood (AXFO) Company Presentation summary

Market position and business overview

• Holds 22% market share in Swedish food retail, second only to ICA, with SEK 84.1bn net sales in 2024 and over 15,000 employees.

• Operates nearly 400 group-owned stores and collaborates with over 700 retailer-owned stores, reaching 5 million customers weekly.

• Acquired City Gross in November 2024, expanding presence in the hypermarket segment.

• Offers a family of concepts: Willys (discount), Hemköp (traditional grocery), City Gross (hypermarket), Snabbgross (wholesale), and others.

• Maintains a strong digital presence with omnichannel and pure-play e-commerce brands.

Financial performance

• Net sales grew to SEK 84.1bn in 2024, with a CAGR of 8% over the past decade.

• Operating profit for 2024 was SEK 3.3bn, with an operating margin of 3.9%.

• Willys contributed 56% of net sales and 53% of operating profit; Dagab accounted for 28% of net sales.

• Equity ratio at year-end 2024 was 20.9%, with net debt/EBITDA at 2.2x.

• Dividend per share proposed at SEK 8.75 for 2024, with a policy of at least 50% payout of profit after tax.

Strategic direction and objectives

• Vision is to lead in affordable, good, and sustainable food, aiming for better quality of life for all.

• Four long-term objectives for 2030: most inclusive food company, strongest force for sustainable food, healthier Sweden, and best food experiences.

• Strategic focus on customer offering, expansion, supply chain efficiency, digitalisation, and being an attractive employer.

• Ongoing investments in store modernisation, logistics automation, and data-driven operations.