During the third quarter,
President and CEO
"Despite high comparison figures,
Willys once again reported exceptional growth, reaching an impressive 16% this quarter. The number of new customers and members of Willys Plus is continuing to grow at a rapid rate, and new and existing customers alike are becoming increasingly loyal and shopping more at the chain.
With a clear focus on price value, Hemköp grew faster than the market for the fourth consecutive quarter. In a market that mainly favours the low-price players, Hemköp delivered a strong performance. It is truly gratifying to see a return on the chain's investment in store modernisation and assortment development, with a focus on health and sustainability.
At the same time, we are seeing a certain slowdown in the café and restaurant market from previously high levels. Nevertheless, Snabbgross's focus on an affordable and flexible offering generated favourable growth, resulting in a higher market share.
In line with the trend in the first half of the year, operating profit increased in the third quarter, and the adjusted operating margin was on a par with the previous year. This profit trend was attributable to the Group's strong sales growth, which compensated for the continued market investments in the store chains, negative currency effects and higher operating expenses, such as increased rental levels and salary costs.
It is with a sense of humility in the face of an uncertain global backdrop that I present a strong third quarter for
Third quarter summary
- Net sales totalled
SEK 20,293 m (18,674), an increase of 8.7%. -
Retail sales totalled
SEK 15,873 m (14,026), an increase of 13.2%. -
Operating profit amounted to
SEK 1,036 m (975) including items affecting comparability ofSEK -60 m (-40). The operating margin was 5.1% (5.2). -
Adjusted operating profit amounted to
SEK 1,095 m (1,015), an increase of 7.9%. The adjusted operating margin was 5.4% (5.4). -
Net profit for the period amounted to
SEK 738 m (745) and earnings per share before dilution toSEK 3.38 (3.40). -
In September, a dividend of
SEK 4.00 per share was paid out, the second part of the dividend to shareholders totallingSEK 8.15 (7.75) per share.
Summary January - September
- Net sales totalled
SEK 60,342 m (53,735) an increase of 12.3%. -
Retail sales totalled
SEK 47,196 m (40,541) an increase of 16.4%. -
Operating profit amounted to
SEK 2,609 m (2,599) including items affecting comparability totallingSEK -179 m (103). The operating margin was 4.3% (4.8). -
Adjusted operating profit amounted to
SEK 2,787 m (2,496), an increase of 11.7%. The adjusted operating margin was 4.6% (4.6). -
Net profit for the period amounted to
SEK 1,841 m (2,017) and earnings per share before dilution toSEK 8.50 (9.43).
Significant events after the balance sheet date
Hans Bax was appointed as the new Managing Director of Dagab and effective1 February 2024 will succeedNicholas Pettersson , who will take on the role as Managing Director of Willys on the same date.The Nominating Committee of Axfood proposes thatThomas Ekman be appointed new Chairman of the Board at the Annual General Meeting in 2024.Axfood's current Chairman,Mia Brunell Livfors , has declined re-election.
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The information herein is such that
This document is an English translation of the Swedish original. In the event of any discrepancies, the Swedish version shall govern.
https://news.cision.com/axfood/r/continued-strong-customer-traffic-and-increased-market-share,c3860539
https://mb.cision.com/Main/1306/3860539/2382778.pdf
https://mb.cision.com/Public/1306/3860539/92da9318606256d5.pdf
https://news.cision.com/axfood/i/axfood,c3229513
https://news.cision.com/axfood/i/klasbalkow-axfood-foto-magnus-fond,c3229525
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