Continued better growth than the market
Summary of third quarter 2016
- Consolidated net sales amounted to SEK 10,853 m (10,412), an increase of 4.2%.
− Retail sales for Group-owned stores increased by 2.8%.
− Like-for-like sales for Group-owned stores increased by 0.7%.
- Operating profit for the period was SEK 599 m (552), corresponding to an operating margin of 5.5% (5.3%).
- Profit after financial items was SEK 597 m for the period (551).
- Net profit for the period was SEK 466 m (430), and earnings per share were SEK 2.22 (2.05).
- Klas Balkow will succeed Anders Strålman as President and CEO on 16 March 2017.
- Axfood is replacing its previous forecast of “operating profit for 2016 expected to exceed profit for 2015” with a new forecast of an operating profit for 2016 of around SEK 1,900 m.
Summary of interim period January-September 2016
- Consolidated net sales amounted to SEK 32,239 m (30,456), an increase of 5.9%.
− Retail sales for Group-owned stores increased by 4.5%.
− Like-for-like sales for Group-owned stores increased by 2.2%.
- Operating profit for the period was SEK 1,501 m (1,312), corresponding to an operating margin of 4.7% (4.3%).
- Profit after financial items was SEK 1,495 m for the period (1,308).
- Net profit for the period was SEK 1,166 m (1,020), and earnings per share were SEK 5.55 (4.86).
Welcome to a webcast conference call on Thursday October 20, at 10:00 pm CET, when Anders Strålman and Karin Hygrell-Jonsson present the third quarter 2016. The webcast can also be viewed at axfood.se/en.
Sweden: +46 8 566 426 62
UK: +44 20 300 898 11
US: +1 855 753 22 36
For further information, please contact:
Anders Strålman, President and CEO, Axfood AB, 46 70 293 16 93
Karin Hygrell-Jonsson, CFO, Axfood AB, 46 70 662 69 70
Cecilia Ketels, Head of Investor Relations, Axfood AB, 46 70-280 64 59
The information herein is such that Axfood AB (publ) is required to make public in accordance with the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the adjacent contact person, at 7:30 a.m. (CET) on October 20 2016.
At Axfood we work with passion for food and people. Our strength is in developing and driving successful grocery formats in the Swedish market with responsibility for the environment and sustainable development. Axfood includes the Willys and Hemköp chains as well as the Tempo, Handlar’n and Direkten formats, which are proprietor-owned and organized within Axfood Närlivs. B2B sales are sold through the Axfood Snabbgross chain, and wholesaling is conducted through Dagab. Axfood is listed on Nasdaq Stockholm, and the principal owner is Axel Johnson AB. Read more at axfood.se