Brief: Axfood Raises Profitability Target

Axfood AB

16/12/2021 13:30

Dec 16 (Reuters) - Axfood AB  AXFO.ST :
    * AXFOOD CAPITAL MARKETS DAY 2021: RAISED PROFITABILITY
TARGET:
WILLYS' E-COMMERCE TO BREAK EVEN BEFORE THE END OF THE YEAR
    * INVESTMENTS ARE EXPECTED TO RESULT IN EFFICIENCY
IMPROVEMENTS
STARTING IN 2024
    * EFFICIENCY IMPROVEMENTS ARE EXPECTED TO AMOUNT TO BETWEEN
SEK
200 AND 300 M PER YEAR FROM 2025
    * EFFICIENCY IMPROVEMENTS ARE EXPECTED TO INCREASE TO
BETWEEN SEK
300 AND 400 M PER YEAR FROM 2027.
    * INVESTMENTS OF BETWEEN SEK 2.6 AND 2.7 BILLION IN 2022 AND
A
MORE RAPID PACE OF ESTABLISHMENT OF NEW STORE
    * RAISING ITS PROFITABILITY TARGET TO A LONG-TERM OPERATING
MARGIN
OF AT LEAST 4.5%.
    * FINANCIAL TARGETS FOR GROWTH AND FINANCIAL POSITION REMAIN
UNCHANGED
    * DURING 2022, AXFOOD PLANS TO INCREASE ITS RATE OF
EXPANSION AND
ESTABLISH 8-13 NEW STORES

Source text for Eikon:  ID:nWkr2C9WvG 
Further company coverage:  AXFO.ST 

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