Overview
Axfood reported second-quarter revenue of SEK 23.2 billion, a 0.9% increase from the same period last year but short of the SEK 23.67 billion consensus estimate provided by four analysts. The company attributed the subdued top-line performance to food price deflation and calendar effects that reduced comparable growth during the quarter.
Profitability and margins
Operating profit for the quarter amounted to SEK 964 million, below the SEK 1.008 billion analysts had expected. Axfood recorded an EBIT margin of 4.20% for the period. Net income was SEK 647 million, and adjusted earnings per share were SEK 2.94.
Chain performance
Within the group, the Hemköp chain achieved 7.4% growth and expanded its market share, a development Axfood highlighted as evidence of strengthened positioning in certain customer segments. The company reiterated that it is pursuing long-term strategic initiatives and targeted measures aimed at bolstering growth.
Outlook and operational focus
Axfood confirmed its objective for City Gross to reach profitability in the second half of 2026. To navigate the combined pressures of food price deflation and elevated fuel costs, management said it will continue to focus on optimizing logistics and improving cost-efficiency across operations.
Contextual note
The reported figures reflect management commentary that deflationary food prices and calendar effects reduced momentum in the quarter, while selective chain-level gains and ongoing cost and logistics programs remain central to the company's plan to restore stronger growth and margin performance.