Sweden's Axfood Q1 revenue growth, EBIT miss estimates

Axfood AB

23/04/2026 06:20

Overview

Sweden food retailer's Q1 revenue rose 2.6% yr/yr but missed analyst expectations

Q1 EBIT missed analyst estimates; adjusted EPS and net income increased yr/yr

Company approved dividend increase and share repurchase for incentive program at AGM

Outlook

Axfood says it is investing to gain further market share and enable profitable growth

Company aims to maintain a high rate of store expansion and modernisation

Axfood sees continued focus on efficiency and productivity improvements to strengthen competitiveness

Result Drivers

HIGHER VOLUMES - Co said increased sales volumes, especially ahead of the VAT reduction, but sales growth was lower than hoped for

COST CONTROL AND PRODUCTIVITY - Improved profitability was primarily driven by effective cost control and productivity gains

STORE EXPANSION AND MODERNISATION - Continued investments in expanding and modernising stores created new growth opportunities

Company press release: ID:nWkr9YC0LR

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
SEK 21.60 bln
SEK 22 bln (4 Analysts)
Q1 Adjusted EPS
SEK 2.42
Q1 Net Income
SEK 525 mln
Q1 EBIT
Miss
SEK 806 mln
SEK 835.30 mln (4 Analysts)
Q1 EBIT Margin
3.70%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the food retail & distribution peer group is "buy."

Wall Street's median 12-month price target for Axfood AB is SEK328.00, about 1.9% above its April 22 closing price of SEK321.80

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)