President and CEO
"Given that we were facing uniquely high comparison figures, the beginning of the year was strong, with 6.9% growth in retail sales. The fact that we posted solid growth in a market with low inflation was a result of significant volume growth. This confirms that our customers appreciate the offerings in our various concepts.
Willys has a competitive offering, with the ambition to deliver
The first quarter saw another excellent performance from Hemköp, with like-for-like growth of 7.0%. With a focus on price value and store modernisations, more consumers are being drawn to Hemköp's concept. In the café and restaurant market, the beginning of the year was weak, including a negative effect from Easter. This was reflected in Snabbgross's performance, even though Snabbgross once again gained market share during the quarter.
With continued volume growth and a positive trend in customer traffic,
In the back-end operations, we are establishing a new logistics structure and are still in a ramp-up phase at the new logistics centre in Bålsta. The deployment of automation and transfer of inventory for dry and refrigerated goods is now complete, and operations within the frozen assortment were also initiated recently according to plan. We continue to expect improvements in efficiency from the second half of the year. During the quarter, we also put the automation solution at our new fruit and vegetable warehouse in Landskrona into operation.
Sustainability work at
We can now look back at a positive beginning to the year, during which we continued to attract new customers and gained market share in an increasingly competitive market. With an ambitious agenda for continued development, we have a good opportunity to take additional steps towards being the leader in affordable, good and sustainable food."
First quarter summary
- Net sales totalled
SEK 20,252 m (19,252), an increase of 5.2%. -
Retail sales totalled
SEK 16,281 m (15,225), an increase of 6.9%. -
Operating profit amounted to
SEK 817 m (695) including items affecting comparability of SEK - m (-55). The operating margin was 4.0% (3.6). -
Adjusted operating profit amounted to
SEK 817 m (750), an increase of 9.0%. The adjusted operating margin was 4.0% (3.9). -
Net profit for the period was
SEK 560 m (472) and earnings per share before dilution amounted toSEK 2.60 (2.20). -
The Annual General Meeting (AGM) on 20 March approved a dividend to shareholders of
SEK 8.50 (8.15) per share. The amount is divided into two equal payments ofSEK 4,25 each, in which the first payment was made in March and the second will be made in September. The AGM also electedThomas Ekman as the new Chairman, and the Board of Directors resolved on the repurchase of no more than 385,000 shares related to the long-term share-based incentive programme LTIP 2024. -
On 6 February it was announced that
Klas Balkow chooses to leave his role as President and CEO ofAxfood by year-end 2024 the latest.
Significant events after the balance sheet date
- On 17 April, it was announced that
Axfood's Board of Directors has appointed the current Managing Director of Hemköpskedjan,Simone Margulies , asAxfood's new President and CEO from15 August 2024 .
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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-high-inflow-of-customers-and-solid-earnings,c3967469
https://mb.cision.com/Main/1306/3967469/2758554.pdf
https://mb.cision.com/Public/1306/3967469/8fe7bdf23f867b19.pdf
https://news.cision.com/axfood/i/axfood-q1-2024,c3293510
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