President and CEO
"In recent months, we have approached nearly double-digit food price inflation. The trend we are seeing is a consequence of a number of external factors such as the Covid-19 pandemic, the war in
The extremely rapid pace of the price increases from our suppliers has not yet been reflected in consumer prices. Demand for campaign products has also increased, and continued high costs for electricity and fuel have had a negative impact. But thanks to our strong growth in physical stores, with Willys benefiting from the prevailing low-price trend and the return to cross-border shopping, as well as higher volumes from the acquired company Bergendahls Food, we once again delivered increased earnings this quarter. The divestment of Mat.se and effective cost control in our chains also contributed to the positive earnings trend."
Second quarter summary
- Net sales totalled
SEK 18,468 m (13,903), an increase of 32.8%, including the acquired Bergendahls Food. -
Retail sales totalled
SEK 13,803 (12,583), an increase of 9.7%. -
Operating profit amounted to
SEK 789 m (607) and included items affecting comparability ofSEK -39 m (-54). The operating margin was 4.3% (4.4). -
Adjusted operating profit amounted to
SEK 828 m (661), an increase of 25.3%. The adjusted operating margin was 4.5% (4.8). -
Net profit for the period amounted to
SEK 590 m (455) and earnings per share before dilution toSEK 2.75 (2.26). -
A rights issue was completed with the support of the AGM's authorisation and the Board of Directors' decision. The rights issue was fully subscribed, and
Axfood receivedSEK 1,499 m before issue costs.
First half of 2022 summary
- Net sales totalled
SEK 35,061 m (27,106), an increase of 29.3%, including the acquired Bergendahls Food. -
Retail sales totalled
SEK 26,514 m (24,790), an increase of 7.0%. -
Operating profit amounted to
SEK 1,623 m (1,172) and includedSEK 143 m (-54), net, in items affecting comparability. The operating margin was 4.6% (4.3). -
Adjusted operating profit amounted to
SEK 1,480 m (1,225), an increase of 20.8%. The adjusted operating margin was 4.2% (4.5). -
Net profit for the period amounted to
SEK 1,272 m (885) and earnings per share before dilution toSEK 6.02 (4.40).
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https://news.cision.com/axfood/r/strong-growth-characterised-by-acquisition-and-high-food-price-inflation,c3601703
https://mb.cision.com/Main/1306/3601703/1604687.pdf
https://mb.cision.com/Public/1306/3601703/bcb238cc15e42e86.pdf
https://news.cision.com/axfood/i/garant-recept-efterra-ttspizza-mediumres,c3070980
https://news.cision.com/axfood/i/klasbalkow-axfood-foto-magnus-fond,c3070979
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