Axfood AB · OMXSTO:AXFO
Axfood AB — Q1 2007 Earnings Presentation
18 slides from Axfood AB's earnings presentation, March 2007
Slide 1: Axfood AB Q1 January – March 2007
Axfood AB Q1 January – March 2007
Slide 2: Axfood AB 1 January–31 March 2007
Axfood AB 1 January–31 March 2007 Operating profit for the period was SEK 258 m (226). The operating margin was 3.7% (3.3%) Retail sales for Axfood’s wholly owned stores rose 1.1 % during the period. Like-for-like sales rose 1.6% Consolidated sales totalled SEK 6,943 m (6,820) Three-year agreement w
Slide 3: Businesses: Willys
Businesses 1 January–31 March 2007 Sales for the Willys group rose 3.2 % during the first quarter Like-for-like sales rose 2.1 % Operating profit for the period was SEK 140 m (110) The operating margin was 3.8 % (3.1%) Willys has 146 wholly owned stores, of which 43 are Willys hemma stores 3 Q1 2007
Slide 4: Businesses: Hemköp
Businesses 1 January–31 March 2007 Sales for Hemköp's stores – both wholly owned and franchises – rose 1.0 % during the period, like-for-like 1.3 % Operating profit for the first quarter was SEK 19 m (19) Three new stores opened during the period The Hemköp chain comprises 77 wholly owned stores and
Slide 5: Närlivs
Businesses 1 January–31 March 2007 Närlivs Operating profit for the first quarter was SEK 12 m (10) 149 stores The operating margin was 1.0 % (0.8%) Axfood Närlivs is showing a favourable trend in sales and operating profit despite 230 stores fierce competition Närlivs’ efforts in the cash and carry
Slide 6: Businesses: Dagab
Businesses 1 January–31 March 2007 Operating profit for the first quarter was SEK 37 m (48) Operating margin was 0.7% (1.0%) Dagab's earnings are lower, and the operation is now more closely integrated with the store chains Dagab's distributed sales are derived from Axfood's own store concepts and p
Slide 7: Agenda 2007
Agenda 2007 Willys continues to be the price leader New lower prices at Willys every month Willys - next generation 7 Q1 2007 | AXFOOD
Slide 8: Agenda 2007
Agenda 2007 Fresh food - fruit & veg Hemköp - concept and operation Loyalty card Hemköp Continued integration - Automatic replenishment Environmental impact Private label are stagnating 8 Q1 2007 | AXFOOD
Slide 9: Forecast
Forecast We are sticking to our previously issued forecast for the year. Operating profit for 2007 will be level with the result for 2006, excluding the compensation of SEK 89 m received from the Vi retailers' association. 9 Q1 2007 | AXFOOD
Slide 10: Axfood Q1 2007
Axfood Q1 2007 10 Q1 2007 | AXFOOD
Slide 11: Key ratios
Key ratios Jan.-March Jan.-Dec. SEK m 2007 2006 2006 Net sales 6,943 6,820 28,808 Operating profit 258 226 1,204 Operating margin, % 3.7 3.3 3.9 Profit after financial items 253 223 1,183 Profit after tax 182 161 852 Earnings per share, SEK 3.47 2.96 16.03 Equity ratio, % 25.3 33.8 39.8 Return on ca
Slide 12: Change in store structure
Change in store structure Establish- Sales/ Conversions Dec. 2006 ment Acquisitions closures to/from March 2006 Hemköp 76 1 - - - 77 Willys 105 1 - -3 - 103 Willys hemma 43 - - - - 43 Total, wholly owned 224 2 - -3 - 223 Hemköp franchises 82 - 2 - - 84 12 Q1 2007 | AXFOOD
Slide 13: Net sales, own and franchise
Net sales, own and franchise Jan.-March Like-for-like 2007, SEK m % sales % Hemköp 1,400 -4.1 0.1 Hemköp franchise 859 10.4 3.5 Hemköp total 2,259 1.0 1.3 Willys total 3,705 3.2 2.1 Total 5,964 2.3 1.8 13 Q1 2007 | AXFOOD
Slide 14: Net sales, per business unit
Net sales, per business unit Jan.-March Jan.-Dec. SEK m 2007 2006 2006 Hemköp 1,413 1,472 5,829 Willys 3,705 3,592 15,115 Axfood Närlivs 1,202 1,203 5,465 Dagab 5,058 4,801 20,572 Other 261 234 947 Internal sales -4,696 -4,482 -19,120 Net sales, total 6,943 6,820 28,808 14 Q1 2007 | AXFOOD
Slide 15: Operating profit (EBIT) by business unit
Operating profit for the period (EBIT), broken down by business unit Jan.-March Jan.–Dec. SEK m 2007 2006 2006 Hemköp 19 19 79 Willys 140 110 558 Axfood Närlivs 12 10 108 Dagab 37 48 226 87 87 Other 50 39 233 Operating profit for the period, total 258 226 1,204 15 Q1 2007 | AXFOOD
Slide 16: Condensed balance sheet
Condensed balance sheet SEK m 31/3/2007 31/3/2006 31/12/2006 Assets Goodwill 1,131 1,131 1,131 Interest-bearing receivables 25 – 24 Financial non-current assets 31 32 31 Other non-current assets 1,721 1,695 1,736 Total non-currant assets 2,908 2,858 2,922 Inventories 1,575 1,505 1,473 Accounts recei
Slide 17: Condensed balance sheet, cont.
Condensed balance sheet, cont. Shareholders' equity and liabilities Equity attributable to equity holders of the parent 1,553 1,994 2,420 Total shareholders' equity 1,553 1,994 2,420 Interest-bearing non-current liabilities 588 382 385 Noninterest-bearing non-current liabilities 159 153 157 Total no
Slide 18: Condensed cash flow statement
Condensed cash flow statement Jan.-March Jan.-Dec. SEK m 2007 2006 2006 Operating activities –Cash flow from operating activities before changes in working capital before paid tax 367 321 1,693 –Paid tax -145 -450 -684 –Changes in working capital 5 7 151 Cash flow from changes in working capital 227