Axfood — Earnings Release 2008

Aug 6, 2008

PRESS RELEASE August 6 2008

Axfood's sales July 2008

Consolidated net sales (excluding VAT) totalled SEK 2,695 m (2,395), a rise of 12.5% compared with the same period a year ago. Net sales for stores in Sweden owned by the Group rose by 11.2% for the month of July, with a 6.9% rise in like-for-like sales.

Sales for the period January-July 2008 in wholly owned stores rose by 9.6%, with a 5.6% rise in like-for-like sales. Consolidated net sales totalled SEK 18,279 m (16,730), an increase of 9.3%. Net sales for Axfood's stores (wholly owned and franchise units) rose by 9.5%, with a 5.4% rise in likefor-like sales.

Hemköp's sales (wholly owned and franchise units) increased by 4.4 % during the month, with a 1.6% rise in like-for-like sales. Accumulated sales rose by 3.8%, with a 0.6% rise in like-for-like sales.

Net sales for Hemköp's wholly owned stores decreased by 1.9% during the month, with a 2.9% decrease in like-for-like sales. Accumulated sales increased by 0.7%, with a 1.9% decrease in likefor-like sales.

Willys' sales rose by 12.5% during the month, with a 10.0% rise in like-for-like sales. Accumulated sales rose by 9.0% with a 8.0% rise in like-for-like sales.

PrisXtra's net sales* totalled SEK 41 m (43), a decrease of 4.7%. Like-for-like sales decreased by 5.6%. Accumulated sales increased by 0.3%.

	Jan-July 2008 SEK m	Jan-July 2007 SEK m	Change
Hemköp	3,293	3,268	0.8%
Willys	9,633	8,834	9.0%
PrisXtra	339	0
Dagab 1)	13,503	12,132	11.3%
Axfood Närlivs 2)	3,317	3,113	6.6%
Övrigt 3)	1,077	636	69.3%
Internomsättning 4)	-12,883	-11,253	14.5%
Totalt	18,279	16,730	9.3%
varav distribuerad omsättning
1) Dagab	8,776	7,897	11.1%
2) Närlivs	2,665	2,501	6.6%

Sales per business operation are broken down as follows:

3) Includes support companies and joint-Group functions.

4) Of which Dagab SEK 11,898 m (10,705 m).

* PrisXtras sales was consolidated by 1 February 2008 in the Axfood group.

The figures are preliminary, definite figures will be presented at www.axfood.se under Financial info. Preliminary sales figures will be presented on the following date: 4/9 (Aug), 14/10 (Sept), 6/11 (Oct), 4/12 (Nov).

For further information, please contact:

Anne Rhenman-Eklund, Head of Investor Relations Axfood AB, 070-280 64 59 Karin Hygrell-Jonsson, CFO Axfood AB, +46 70-662 69 70

Axfood AB conducts retail trade through the wholly owned store chains Hemköp, Willys, Willys hemma and PrisXtra, comprising slightly more than 220 stores, and wholesale trade through Dagab and Axfood Närlivs. In addition, Axfood collaborates with a number of proprietor-run stores that are tied to Axfood through agreements. These include stores within the Hemköp chain as well as stores run under the Handlar'n and Tempo profiles. In all, Axfood collaborates with over 500 proprietor-run stores. Axfood is listed on the Nordic Large Cap list of the OMX Nordic Exchange. Axel Johnson AB is the principal owner, with approximately 46% of the shares.