Axfood AB · OMXSTO:AXFO
Axfood AB — Q3 2006 Earnings Presentation
15 slides from Axfood AB's earnings presentation, October 2006
Slide 1: Axfood AB Interim Report January-September 2006
Axfood AB Interim Report January-September 2006
Slide 2: Axfood AB 1 January – 30 September 2006
Axfood AB 1 January – 30 September 2006 Operating profit for the period was 938 MSEK (825). Operating margin*: 4.0% (4.0). Operating profit for the third quarter was 437 MSEK (312). Operating margin*: 4.8% (4.4). Retail sales for Axfoods wholly owned stores rose 4.9% during the period. Like-for-like
Slide 3: Important events during the third quarter
Important events during the third quarter Axfood reached a settlement with the Vi stores, resulting in a net profit impact of SEK 89 m. The integration of Willys and Willys hemma has been completed. Willys opened two stores during the period and closed one. Willys hemma opened one store and closed o
Slide 4: Businesses: Hemköp
Businesses 1 January-30 September 2006 Sales for Hemköp's stores – both wholly owned and franchises – rose 1.7% during the period. Sales for wholly owned Hemköp stores during the period decreased 5.4%. Like-for-like sales increased by 0.2%. Sales for franchise stores increased 16.7%, with a 4.6% ris
Slide 5: Businesses: Willys
Businesses 1 January-30 September 2006 Sales for the Willys group during the period increased 9.5%. Like-for-like sales rose 1.4%. Operating profit for the period J was SEK 423 m (396). The operating margin was 3.8% (3.9%). Operating profit for the third quarter was SEK 168 m (153). Willys has 148 w
Slide 6: Businesses: Dagab
Businesses 1 January-30 September 2006 Operating profit for the period was SEK 158 m (200). Operating margin was 1.0% (1.4%). Operating profit for the third quarter was SEK 55 m (69). Dagab's earnings are slightly lower, and the operation is now more closely integrated with the store chains Today 99
Slide 7: Närlivs
Businesses 1 January-30 September 2006 Närlivs Operating profit for the period was 88 Mkr (86). Operating margin was 2,6% (2,5) Operating profit for the third quarter was 43 Mkr (42) Axfood Närlivs is showing a good trend in sales and operating profit despite fierce competition. Ventures in the cash
Slide 8: Top of the agenda
Top of the agenda To turn around Hemköp Organic growth Continued integration Forecast: In view of the continued fierce competitive climate, profit for 2006 is expected to remain level with the outcome for 2005, excluding the SEK 89 gain from Vi, which is unchanged compared with the previous forecast
Slide 9: Key ratios
Axfood AB 1 January – 30 September 2006 Key ratios Jul-Sept Jan–Sept SEK m 2006 2005 % 2006 2005 % Net sales 7 226 7 090 1,9% 21 424 20 781 3,1% Operating profit excl Vi 348 312 11,5% 849 825 2,9% Compensation, settlement with Vi 89 89 Operating profit incl Vi 437 312 40,1% 938 825 13,7% Operating m
Slide 10: Change in store structure, Jan-Sept 2006
Axfood AB 1 January – 30 September 2006 Change in store structure, Jan-Sept 2006 Sept sep-06 2006 Hemköp 78 -9 Willys 104 4 Willys hemma 44 -4 Total wholly owned 226 -9 Hemköp franchise 80 3 10 INTERIM REPORT, JAN-SEPT 2006 | AXFOOD
Slide 11: Net sales, own and franchise stores
Axfood AB 1 January – 30 September 2006 Net sales, own and franchise stores Jul-Sept Like for like Jan-Sept Like for like 2006, Mkr % stores % 2006, Mkr % stores % Hemköp 1 390 -7,6% 0,1% 4 302 -5,4% 0,2% Hemköp franchise 870 14,3% 4,0% 2 500 16,7% 4,6% Hemköp total 2 260 -0,2% 1,5% 6 802 1,7% 1,7%
Slide 12: Net sales per business unit
Axfood AB 1 January – 30 September 2006 Net sales per business unit Jul-Sept Jan-Sept SEK m 2006 % 2006 % Hemköp 1 403 -7,2% 4 340 -5,1% Willys 3 760 6,8% 11 236 9,5% Axfood Närlivs 1 216 -2,8% 3 418 -2,4% Dagab 5 084 3,3% 15 173 6,5% Other 224 6,7% 693 11,1% Internal sales -4 461 3,2% -13 436 8,1%
Slide 13: EBIT broken down by business unit
Axfood AB 1 January – 30 September 2006 EBIT broken down by business unit Jul-Sept Jan–Sept Operating SEK m 2006 2005 2006 2005 margin Hemköp 32 13 62 37 1,4% Willys 168 153 423 396 3,8% Axfood Närlivs 43 42 88 86 2,6% Dagab 55 69 158 200 1,0% Compensation from Vi 89 89 Other excl comp from Vi 50 35
Slide 14: Condensed cash flow statement
Axfood AB 1 January – 30 September 2006 Condensed cash flow statement Jan-Sept Jan-dec SEK m 2006 2005 2005 Operating activities –Cash flow from operating activities before changes in working capital before taxes paid 1 205 1 138 1 487 –Taxes paid -621 -214 -241 –Changes in working capital 225 -29 -
Slide 15: Investment, depreciation, dividend, share repurchase
Axfood AB 1 January – 30 September 2006 Investment, depreciation, dividend, share repurchase Jan-Sept SEK m 2006 2005 Investment 427 764 Depreciation -351 -319 Dividend -811 -590 Share repurchase -430 -1 241 -590 15 INTERIM REPORT, JAN-SEPT 2006 | AXFOOD