H1 2017 in brief
Meny

Everyone in Sweden should have the right to good, wholesome, attractively priced and sustainable food.

Download Interim Report (H1) 2017, pdf

Through investments in our omni-channel strategy, we enhance the customer experience across all channels. Today our customers can shop online by willys.se, hemköp.se, mat.se and Middagsfrid.

Download Interim Report (H1) 2017, pdf

During the first half-year 2017 sales were strong across the board, entailing good growth for the Group.

Download Interim Report (H1) 2017, pdf

CEO'S MESSAGE

 

 

 

 

 

 

 

Axfood showed good sales during the first half-year of 2017.We invest in future growth, both by strengthening the existing business and by acquisitions. Many of our investments are tied to our omni-channel strategy. During the first six months of the year we acquired and integrated the online food store mat.se, the pre-packed dinner bag company Middagsfrid, the cross-border shopping chain Eurocash and Saba’s warehouse operations for fruit and vegetables.

The operating margin of the Group was negatively affected by the high level of investments in future ventures. However, the operating profit is in line with our full-year forecast.

Read the CEO's message, pdf

STRATEGY

Long-term approach, customer focus
and responsibility –strategy for profitable growth

Through growth Axfood will consolidate its position as the number two player in Sweden's food retail market and increase its market share. In addition to organic growth in existing stores and an ambitious pace of establishment, Axfood will grow its digital business. In early 2017 Axfood strengthened the position in e-commerce through the acquisition of the online store mat.se and Middagsfrid and expanded its presence in discount food retailing by entering the cross-border shopping segment.


KEY FIGURES

 

Net sales,
H1 2017

22,564
SEK m

Operating profit,
H1 2017

884
SEK m

Operating margin,
H1 2017

3.9%

Ordinary dividend/share
6.00


SEK

Dividend yield 2016

4.1%
 

Total return last 5 years

184%
 

Net sales, SEK m
 
 
 
 
 
 
 
 
 
 
 
36,30637,52238,48441,24743,355
2012
2013
2014
2015
2016
 
 
 
 
 
0
 
10000
 
20000
 
30000
 
40000
 
50000
 
  2012 2013 2014 2015 2016
Earnings 36,306 37,522 38,484 41,247 43,355
Operating profit, SEK m
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,2001,3021,4471,7601,902
2012
2013
2014
2015
2016
 
 
 
 
 
0
 
250
 
500
 
750
 
1000
 
1250
 
1500
 
1750
 
2000
 
2250
 
  2012 2013 2014 2015 2016
Earnings 1,200 1,302 1,447 1,760 1,902
Operating margin, %
 
 
 
 
 
 
 
 
 
 
 
3.33.53.84.34.4
2012
2013
2014
2015
2016
 
 
 
 
 
0
 
1
 
2
 
3
 
4
 
5
 
  2012 2013 2014 2015 2016
3.3 3.5 3.8 4.3 4.4
Ordinary dividend/share, SEK
 
 
 
 
 
 
 
 
 
 
 
 
 
3.003.754.255.006.00
2012
2013
2014
2015
2016
 
 
 
 
 
0
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
  2012 2013 2014 2015 2016
Utdelning 3.00 3.75 4.25 5.00 6.00
Dividend yield, %
 
 
 
 
 
 
 
 
 
 
 
 
 
4.94.63.66.14.1
2012
2013
2014
2015
2016
 
 
 
 
 
0
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
  2012 2013 2014 2015 2016
Earnings 4.9 4.6 3.6 6.1 4.1

 

  2012 2013 2014
Earnings 50 75 110
Results 25 150 120
Totalavkastning, %
 
 
 
 
 
 
 
 
 
 
2012
2013
2014
 
 
 
25
 
50
 
75
 
100
 
125
 
150
 

EMPLOYEES

Passion for food and people

Axfood  a good employer according to its employees

The majority of employees would recommend Axfood as an employer to their friends, and 83 percent say they are proud to work for Axfood. The Group's Employee Satisfaction Index (ESI) score was 92, which is well above the industry benchmark at 86.

More than 8 out of 10 employees are proud to work for the Axfood Group.

Axfood reflects the makeup of Sweden's population today.

21%

of Axfood's employees have an international background.​​

Personal development at Axfood is important.
 

15 min

An e-learning course starts every 15 minutes.​​

Read more about our employees, pdf

 

Good and sustainable food for everyone

Axfood is committed to ensuring that everyone has access to good and sustainable food – always. Consumer interest in organic goods, certified products and vegetable protein substitutes is growing, which is leading to higher sales of vegetarian and organic products as a share of total sales.

With its private label products Axfood is leading the way in establishing requirements for products as well as suppliers in its efforts to make a difference in social, environmental and natural resource issues. Axfood is also gradually introducing the Swedish country of origin label that the industry launched during the year to make it easier for consumers to identify products made in Sweden.

258 private label products with the Swedish label 2016

Organic sales
of total food sales,
H1 2017

 

Private label sales
of total sales,
H1 2017

  7%
Ekologiskt 7
Övriga 93
7%

  27%
Ekologiskt 27
Övriga 73
27%

 

 

Axfood's climat footprint

Axfood has reduced the climat impact by 79% since 2009.

 
 
 
 
 
 
 
 
 
 
 
 
2009
2013
2014
2015
2016
 
 
 
 
 
0
 
20000
 
40000
 
60000
 
80000
 
100000
 
120000
 
tonnes CO2e
-100
 
-80
 
-60
 
-40
 
-20
 
0
 
%
CO2 emissions  
Change vs. base year 2009
  2009 2013 2014 2015 2016
CO<sub>2</sub> emissions   98838 35903 47197 26653 20761
Change vs. base year 2009 10 -64 -52 -73 -79

 


The cheapest bag of groceries – with good food for everyone

As the store fore price-savvy customers, Willys is the market leader and is developing the discount in Sweden. Willys pledges to offer Sweden's cheapest bag of groceries, both at its physical stores and online. The segment Willys includes since the second quarter 2017 the cross-border shopping chain Eurocash.

Net sales,
H1 201712,365 
SEK m

Growth,
H1 20177.8%
 

Operating margin,
H1 20174.0%

Read more about Willys, pdf


Good food with a clear conscience

Hemköp is "the personal food store", offering inspiration to active families with a rich selection of fresh products and high level of service in 187 stores, of which 67 are Group-owned. Through e-commerce Hemköp offers both pre-defined dinner solutions on a subscription basis as well as grocery shopping.

Net sales.
H1 20173,087 
SEK m

Growth,
H1 2017
-0.7%

Operating margin,
H1 20173.4%

Read more about Hemköp, pdf


Helping business customers do better business

Axfood Närlivs is a leading B2B wholesaler in Sweden. The company serves customers with varying needs in three distinct segments: Handlar'n and Tempo, Convenience, and the wholly owned Axfood Snabbgross cash and carry chain, with 23 stores.

Net sales,
H1 2017

1,444 
SEK m

Growth,
H1 2017

3.6%
 

Operating margin,
H1 2017

6.2%
 

Read more about Axfood Närlivs, pdf


Dagab is the support company for the Group's purchasing and logistics operations. Dagab is responsible for an efficient product flow, from assortment development and purchasing to warehousing and distribution. The segment Dagab includes mat.se and Middagsfrid.

Net sales,
H1 2017

20,428
SEK m

Growth,
H1 20171)

6.4%
 

Operating margin,
H1 2017

1.7%
 

1) The growth is based on pro forma figures for H1 2016 due to acquisition of the fruit & vegetables business.

Read more about Dagab, pdf