25
1 January – 31 December 2009 Axfood AB

2010-02-02 Year-End 2009 presentation

  • Upload
    axfood

  • View
    783

  • Download
    3

Embed Size (px)

Citation preview

Page 1: 2010-02-02 Year-End 2009 presentation

1 January – 31 December 2009

Axfood AB

Page 2: 2010-02-02 Year-End 2009 presentation

2

Axfood AB 1 January – 31 December 2009

• Consolidated sales : SEK 32,378 m (31,663), an increase of 2.3%

• Good operating profit: SEK 1,128 m (1,077)

• Operating margin: 3.5% (3.4)

• Positive operating margin in all operations

Page 3: 2010-02-02 Year-End 2009 presentation

3

Objectives achieved 2009

3

Objective 2009• Achieve an operating profit

of at least SEK 1 billion

• Equity ratio of at least 25%

• Shareholder dividend of at least 50% of profit for theyear after tax

• Profitability for Hemköp

Outcome• Operating profit SEK 1,128 m

• Equity ratio target reached everyquarter

• For 2009 the board of Directors proposes a dividend of SEK 10, 66% of profit after tax

• Operating profit SEK 28 m

Page 4: 2010-02-02 Year-End 2009 presentation

4

Hemköp 1 January – 31 December 2009

• Positive result despite restructuring costs of SEK 46 m

– Improved cost control– Increased gross profit– Closed or converted eight fully

owned stores

• 2010: Focus on improving sales and profitability

– Higher pace of marketing activities– New price strategy

Page 5: 2010-02-02 Year-End 2009 presentation

5

Willys 1 January – 31 December 2009

• Continued good performance– Stable earnings and sales– Increased number of customers

• Leading position in soft discount– Attractive mix between price &

assortment

• Development of concept according to plan, so far 28 stores

• 2010: Sales growth and increase number of stores

Page 6: 2010-02-02 Year-End 2009 presentation

6

PrisXtra 1 January – 31 December 2009

• Unsatisfying sales and profitability

• Decrease in sales for two stores due to major road work

• 2010: Focus on store performance and increased profitability

Page 7: 2010-02-02 Year-End 2009 presentation

77

Axfood Närlivs 1 January – 31 December 2009

• Good profitability in all parts despite fierce competition

• Cash & Carry showed very strong performance

Page 8: 2010-02-02 Year-End 2009 presentation

8

Dagab 1 January – 31 December 2009

• Improved efficiency and good cost control

• Excellent service level

• Implementation of Autoordercontinued as planned

• Deliver to Vi- stores since November

Page 9: 2010-02-02 Year-End 2009 presentation

9

New IT platform

• New business system to better support all of Axfoods strategies

• Project will run over five years

• Total investment of SEK 500 - 600 m

Page 10: 2010-02-02 Year-End 2009 presentation

10

Market trends 2010

• Continued strong price competition

• Increased price consciousness among customers

• Food inflation at low levels

Page 11: 2010-02-02 Year-End 2009 presentation

11

Unchanged strategy for profitable growth

• Stimulate sales

• Increase efficiency

• Continued good cost control

• Develop and improve the variousconcepts

• Refine price & product range

• Optimize store operations

• Continued private label developement

Page 12: 2010-02-02 Year-End 2009 presentation

12

Axfood´s goal for 2010

Is to achieve an operating profit in level with 2009

Page 13: 2010-02-02 Year-End 2009 presentation

1 January – 31 December 2009

Financial Performance

Page 14: 2010-02-02 Year-End 2009 presentation

14

Axfood AB 1 January – 31 December 2009

• Good profitability

• Strong cost control

• Stable sales

-

+ 4.7%

+2.3 %

Change

3.4%3.5%Operating margin

1,0771,128 Operating profit

31,66332,378Net sales

20082009Group , SEK m

Page 15: 2010-02-02 Year-End 2009 presentation

15

Hemköp 1 January – 31 December 2009

Sales Operating profit

-0.1%0.5%Operating margin

20082009

-09 -08

5,640 5,335

-09 -08

-8

28

Page 16: 2010-02-02 Year-End 2009 presentation

16

Willys 1 January – 31 December 2009

+4.8%

Sales

4.4%4.2%Operating margin

20082009

Operating profit

-09 -08

16,77617,589

-09 -08

731 730

Page 17: 2010-02-02 Year-End 2009 presentation

17

PrisXtra 1 January – 31 December 2009

• Focus on store performance and improving customer offerings

-

-

-

Change

1.4%0.8%Operating margin

96 Operating profit

653725 Net sales

20082009SEK m

Page 18: 2010-02-02 Year-End 2009 presentation

1818

Axfood Närlivs 1 January – 31 December 2009

-

+ 20.0%

-1.6%

Change

1.9%2.4%Operating margin

110132 Operating profit

5,6625,571 Net sales

20082009SEK m

• Good development in distributed sales

• Stable results

Page 19: 2010-02-02 Year-End 2009 presentation

19

Dagab 1 January – 31 December 2009

• Excellent service level

• Good development in distributedsales

-

+ 6.5%

+ 2.7%

Change

0.6%0.6%Operating margin

138147 Operating profit

23,42424,052 Net sales

20082009SEK m

Page 20: 2010-02-02 Year-End 2009 presentation

20

Other 1 January – 31 December 2009

• Sales: SEK 3,364 m (1,981)

• Operating profit: SEK 84 m (98)

• Increased internal sales are driven by fruit& vegetables and centrally packed meat

Page 21: 2010-02-02 Year-End 2009 presentation

2121

Key ratios

• Balance sheet, total: SEK 7,173 m (7,350)

• Cash flow operating activity: SEK 1,558 m (1,152)

• Capex: SEK 633 m (1,158)

• Equity ratio: 36.7% (30.7)

Page 22: 2010-02-02 Year-End 2009 presentation

22

Strong financial posistion

Q1 2006 – Q4 2009

0

400

800

1 200

1 600

2 000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q40

0,25

0,5

0,75

1

1,25Debt, short term, MSEKDebt, long term, MSEKDebt equity ratio mutiple

2006 2007 2008 2009

Page 23: 2010-02-02 Year-End 2009 presentation

23

Financial targets & dividend policy

• Axfood´s goal for 2010 is to achieve an operating profit in level with 2009

• Equity ratio of at least 25%

• Shareholder dividend of at least50% of profit for the year after tax

• For 2009 the board of Directors proposes a dividend of SEK10 (8)

• Long term target for operating margin: 4%

Page 24: 2010-02-02 Year-End 2009 presentation

24

Summary financial performance

• Stable sales and strong result

• Efficiency and good cost control

• Strong balance sheet & cash flow

Page 25: 2010-02-02 Year-End 2009 presentation

Time for questions!