Annual review 2020

Our group companies


Axfood had an exceptional year with continued investments in developing the customer offering, modernizing stores, expanding e-commerce and increasing digitalization and automation. During the year, Axfood again grew faster than the market, which resulted in profits of SEK 2.39 billion.

Affordable, good and sustainable food for everyone

The grocery industry is less sensitive to economic cycles than other business, mainly affected by population growth and inflation, as well as by trends such as digitalization, changing demographics, brand extension and increased focus on health, sustainability and value for money. The Axfood family’s brands are well-positioned in their segments, making affordable and sustainable food available to everyone.

“Willys strengthened its position as Sweden’s leading discount chain”

A successful year with
increased market shares

Axfood’s sales and earnings were affected in 2020 by high demand as home food consumption increased. The year was marked by high activity, with a special focus on employee and customer safety and stability in goods supplies. With store sales growth of 8.7 percent and e-commerce growth of as much as 112 percent, Axfood once again grew more than the market both in store and online. Willys strengthened its position as Sweden’s leading discount chain. Although overall sales grew strongly, the year was challenging for parts of Axfood, in particular for stores located near the Norwegian border and in central metropolitan locations. 

Investment in efficient logistics and developed customer offering

During the year, construction continued on the new highly automated logistics center in Bålsta, for stores and e-commerce. The center will be one of the largest and most modern in Europe, bringing together the entire flow of goods for shops and e-commerce. The pandemic accelerated the digitalization of the grocery industry. During the year, Axfood continued to strengthen its digital offering with ever more customized e-commerce. In-store digital tools such as self-scanning and mobile payments were launched. In addition, the new concept Snabbgross Club was launched, offering a unique and affordable range in large packages aimed at private individuals, as well as Hemköp’s new loyalty program Klubb Hemköp, inspiring members to make sustainable and healthy choices.

A positive force for change

During the year, Axfood continued to develop its ambitious sustainability work, focusing on, among other things, a sustainable customer offering, reduced food waste and sustainable transport. 

The facts

Axfood is a leading group in the grocery industry in Sweden, with food concepts such as Willys, Hemköp, Tempo, and Middagsfrid. Wholesale sales take place through the Axfood Snabbgross chain. The support company Dagab is responsible for the group’s product development, purchasing and logistics. The Axfood family also includes Eurocash, Urban Deli and Apohem.

Ownership: 50.1%

Number of employees: 11,451


KEY RATIOS, MSEK 2020 2019
Net sales 53,696 50,740
ProfitAX 2,394 2,173
Profit/loss after net financial items 2,394 2,173