Start Time: 03:30 January 1, 0000 4:11 AM ET

Axfood AB (publ) (OTCPK:AXFOF)
Q1 2024 Earnings Conference Call
April 25, 2024, 03:30 AM ET

Company Participants

Klas Balkow – President and CEO
Anders Lexmon – CFO

Conference Call Participants

Daniel Schmidt – Danske Bank
Fredrik Ivarsson – ABG Sundal Collier
Gustav Hageus – SEB
Anna Schumacher – BNP Paribas Exane

Operator

Welcome to the Axfood Q1 2024 Report Presentation. For the first part of the presentation, participants will be in listen-only mode. [Operator Instructions].

Now I will hand the conference over to speakers, CEO, Klas Balkow; and CFO, Anders Lexmon. Please go ahead.

Klas Balkow

[Technical Difficulty] for joining today’s call. With me here today to present the interim report for the first quarter of 2024 is our CFO, as you heard, Anders Lexmon. In the Investors section of our website, you will find the presentation material for the call and the recording will also be made available after the presentation.

And with that, let’s get started and please turn to Page 2. Today’s agenda is as follows. First, we’ll have a brief market overview and then I will give you a review of our first quarter performance. After that, Anders will take you through the financials. And following Anders’ part, I will talk about the progress we are making with some of our strategic initiatives and investments for the future. Then just a brief summary of the presentation before we open up for Q&A.

So we are now on Page 3, but let’s go straight into Page 4 and take a look at the developments during the first quarter. Market growth amounted to just over 6% during the quarter with the help from a calendar effect of roughly 2% through the leap day and the timing of Easter. However, inflation was substantially lower than before. In

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