Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Axfood AB ( (SE:AXFO) ) has provided an announcement.
Axfood has signed a EUR 265 million agreement with German automation specialist Witron to supply automation equipment for a new, highly automated logistics centre in Kungsbacka, southern Sweden, scheduled to begin operations and ramp-up in 2030. The 90,000-square-metre, environmentally certified facility will handle goods in all temperature zones for Axfood’s food retail chains in southern Sweden, replace the existing Backa warehouse and take over volumes from Jönköping and Hässleholm, boosting regional capacity by at least 20% while aiming to maintain current cost levels at full operation and then gradually lower them. The investment, phased between 2026 and 2031, will be financed through operating cash flow and a new SEK 4 billion revolving credit facility arranged with Handelsbanken, SEB and Swedbank, with Axfood also implementing currency hedging for most future payment flows under the Witron contract, underscoring the strategic importance of the project for enhancing logistics efficiency and competitiveness across the group.
The most recent analyst rating on (SE:AXFO) stock is a Hold with a SEK300.00 price target. To see the full list of analyst forecasts on Axfood AB stock, see the SE:AXFO Stock Forecast page.
More about Axfood AB
Axfood AB is a Swedish food retail group focused on affordable, sustainable groceries, operating chains such as Willys, Hemköp and City Gross alongside smaller formats like Tempo, Handlar’n and Matöppet. Business-to-business sales are conducted through Snabbgross, while its support company Dagab manages product development, purchasing and logistics; the group employs over 15,000 people, generates close to SEK 90 billion in annual sales, and has been listed on Nasdaq Stockholm since 1997, with Axel Johnson AB as its principal owner.
Average Trading Volume: 276,428
Technical Sentiment Signal: Strong Buy
Current Market Cap: SEK60.18B
See more insights into AXFO stock on TipRanks’ Stock Analysis page.