10/50

Our renewal goal, 10/50, means that in ten years, 50 percent of what we do should be new things that we are not yet doing today. In 2023, we chose to expand the renewal goal to become 10/50/50. With this expanded goal, we have now added a sustainability component where we commit to the challenge of halving our carbon footprint within ten years.

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% renewal after nine years

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new businesses during 2015-2023

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SEK billion in new and existing companies during 2023

When we started measuring our renewal in 2015, our e-commerce share was 8%. By 2022, it had increased to 31%. Through e-commerce orders placed in lockers near stores, Willys became the first to reach break-even in Swedish grocery e-commerce. Geographical expansion is also a theme of renewal, where Dustin, for example, acquired IT partner Centralpoint in 2021 and gained a second home market in the Benelux countries.

To create unique and affordable offerings, many of our companies develop their own quality brands. Axfood's private label products, with Garant as the largest brand, account for over 31% of Willys and Hemköp's sales. Another example of new products is Dustin's "Takeback" program, where they buy back used computers, ensure quality and secure data erasure, and then resell the products in the second-hand market.

Since setting the 10/50 goal, we have established several new business areas, including our investment company Novax. Acquisitions are primarily made in connection with our existing companies. Between 2015 and 2022, we invested in a total of 165 companies, with the majority of investments made within our industrial group, Axel Johnson International. One of the largest recent acquisitions is Axfood's acquisition of Bergendahls Food.

About 10/50

Axel Johnson's 150-year history is characterized by a combination of long-term business development and constant renewal. Since 2015, our 10/50 goal has been a strategic guiding star for our renewal, aiming that in ten years, half of what we do will be new things that we are not doing yet.

The 10/50 goal is a way for us to continually strive for renewal. Renewal for us primarily occurs within or near our existing operations – through product development, new customer offerings, new markets, and acquisitions. In recent years, we have also entered completely new areas such as solar energy and functional ingredients. Eight years in, we are well on our way to reaching our 10/50 goal, having already achieved 44% renewal.

About 10/50/50

In 2023, we chose to add an additional '50' to our renewal goal. The expanded goal, 10/50/50, means that within a ten-year timeframe, we also aim to halve the total climate impact of the Axel Johnson Group. This reduction aligns with research recommendations and is a prerequisite if we are to achieve the goals of the Paris Agreement, which aims to keep global warming below 2°C and strive to limit it to 1.5°C.

Based on the 10/50/50 goal, as owners, we will want to ensure that all our companies have ambitious goals and action plans. This goal is highly ambitious given the current pace of development, but like the 10/50 renewal goal, it is an expression of a vision and our commitment as owners. We set this goal to drive change.

For us, there is a clear logic in combining renewal and sustainability. Our renewal efforts must support our climate agenda if we want to make progress toward our climate goal. The 10/50/50 goal summarizes our commitment to building companies that are both sustainable and that combine business and societal benefits through impatient renewal and a long-term perspective.

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