Q2 2026 Axfood AB Earnings Call Transcript
Key Points
- Axfood AB (AXFOF) delivered positive growth and increased earnings despite a challenging market characterized by food price deflation.
- The company reported a stable gross margin trend and effective cost control, contributing to improved profitability.
- Hampshire demonstrated strong performance with retail sales growth of more than 7%, driven by high volumes and increased customer traffic.
- Axfood AB (AXFOF) continues to invest in sustainability, with significant progress in electrifying its vehicle fleet and launching new sustainable products.
- The company maintains a strong strategic focus on operational efficiency and sustainability, leveraging new technology and data to optimize logistics and reduce costs.
- Market growth was negatively impacted by food price deflation and a reduction in VAT, leading to a lower growth rate compared to previous quarters.
- Retail sales for Axfood AB (AXFOF) increased by only 2.1%, which did not meet the company's growth ambitions.
- Deflation and higher fuel costs negatively impacted earnings, with a reported cost of 40 million CIAC due to increased fuel prices.
- Citigross faced challenges with negative like-for-like sales growth, partly due to store closures and price deflation.
- The company's cash flow was negatively impacted by the VAT cut on food, resulting in a cash flow from operating activities of minus SEK47 million.
Good morning, everyone.
Good morning, everyone, and welcome to the Axfood Second Quarter 2026 Earnings Presentation.
My name is Alexander Weindorf, Head of IR here at Axfood.
With me today are Simone Margulis, President and CEO and Anders Lexfond, CFO.
In the investor section of our asthood.com website, you will find the presentation material for today's call. We encourage you to have that presentation at hand as you listen to our prepared commentary.
After the presentation, we will be taking questions.
A recording of this call will be made available on our website.
With that, I will now hand over the word to Simone, so please go to page number two.
Thank you, Alex.
Axum maintained a high level of activity during this second quarter with focus on further strengthening presence, competitiveness and efficiency.
We delivered positive growth and
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