Axfood reports a stable first quarter with growth despite higher comparison numbers as well as increased profits and improved profitability. Willyskedjan and Hemköp stores continued to grow further than the market and Dagab once again showed impressive productivity. At the same time, investments continue to develop in business and major steps have been taken in the area of sustainability.
Comments of President and CEO Claas Balco on the Interim Report for the first quarter of 2021:
“Axfood had a stable start in the new year, but store sales growth of 2.4 per cent was for obvious reasons much lower than it was in previous quarters. Just over a year into the outbreak, we are starting to face comparatively high numbers. In addition to the negative calendar effect. This quarter was compared to the first quarter of last year which was hit hard by fuel. Consumer e-commerce sales continue to grow rapidly, and during this quarter growth was up 139 percent. We have a lot going on throughout the Axfood family to develop our business for the future and today we can We tell you that we will move our fruit and vegetable warehouse from Helsingborg to a new, larger and more efficient warehouse in Landskrona with good opportunities for expansion and automation in the future. “
First quarter summary
- Axfood Group net sales amounted to 13,203 million SEK (13067), an increase of 1.0 percent.
- Oxfood Group stores sales amounted to 11,757 million SEK (11,483), an increase of 2.4 percent.
- Operating profit was 565 million SEK (544), an increase of 3.9 percent. Operating margin was 4.3 percent (4.2).
- Profit for the period was 430 million SEK (402), and earnings per share before dilution to SEK 2.16 (1.93).
- The annual general assembly held on March 24 decided to distribute dividends to shareholders amounting to SEK 7.50 (7.25) per share. The dividend amount is split into two payments in March and September of 3.75 SEK each.
- The quarter was still characterized by the prevailing Corona pandemic and satisfying the impact of the previous year’s refueling.
Significant events after the balance sheet date
- In order to further develop and simplify logistical operations and deal with future increases in volume, an agreement has been signed for a new and larger national fruit and vegetable warehouse in Landskrona, which will replace the existing fruit and vegetable warehouse in Helsingborg.
- Axfood’s Board of Directors decided to buy back a maximum of 310,000 shares linked to the LTIP 2021 stock-based long-term incentive program.
Axfood is presenting the interim report for the first quarter of 2021 on a conference call at 9:30 today.
The report was presented by President and CEO Claas Balco and CFO Anders Lexmon.
To see the show, see www.axfood.se Or call: Sweden: +46 850 5583 51, UK: +44 333 300 9032, USA: +1 333 823 0586
For more information, contact:
Alexander Bergendorf, Head of Investor Relations, Axfood AB, +46 730 49 18 44
This information is information that Axfood AB (publ) is obligated to publish in accordance with the market abuse regulations in the European Union. The information has been submitted, through the auspices of the above contact person, for publication on April 22, 2021 at 7:00.