Axfood — Earnings Release 2008

Jun 5, 2008

PRESS RELEASE June 5 2008

Axfood's sales May 2008

Consolidated net sales (excluding VAT) totalled SEK 2,707 m (2,504), a rise of 8.1% compared with the same period a year ago. Net sales for stores in Sweden owned by the Group rose by 10.9% for the month of May, with a 4.9% rise in like-for-like sales.

Sales for the period January-May 2008 in wholly owned stores rose by 9.3%, with a 5.4% rise in like-for-like sales. Consolidated net sales totalled SEK 12,862 m (11,835), an increase of 8.7%. Net sales for Axfood's stores (wholly owned and franchise units) rose 9.0%, with a 5.2% rise in likefor-like sales.

Hemköp's sales (wholly owned and franchise units) increased by 5.8 % during the month, with a 1.6% rise in like-for-like sales. Accumulated sales rose by 3.9%, with a 0.8% rise in like-for-like sales.

Net sales for Hemköp's wholly owned stores rose by 2.6% during the month, with a 1.4% decrease in like-for-like sales. Accumulated sales rose by 1.7%, with a 1.3% decrease in like-for-like sales.

Willys' sales rose by 9.2% during the month, with a 7.0% rise in like-for-like sales. Accumulated sales rose by 8.2% with a 7.6% rise in like-for-like sales.

PrisXtra's net sales* totalled SEK 60 m (60). Like-for-like sales decreased by 5.9%. Accumulated sales increased by 2.7%.

	Jan-May 2008 SEK m	Jan-May 2007 SEK m	Change
Hemköp	2,390	2,349	1.7%
Willys	6,808	6,294	8.2%
PrisXtra	246	0
Dagab 1)	9,487	8,649	9.7%
Axfood Närlivs 2)	2,243	2,123	5.7%
Other 3)	746	438	70.3%
Internal sales4)	-9,058	-8,018	13.0%
Totalt	12,862	11,835	8.7%
Of which, distributed sales
1) Dagab	6,213	5,691	9.2%
2) Närlivs	1,811	1,722	5.2%

Sales per business operation are broken down as follows:

3) Includes support companies and joint-Group functions.

4) Of which Dagab SEK 8,381 m (7,645 m).

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

Preliminary sales figures will be presented on the following date: 16/7 (June), 6/8 (July), 4/9 (Aug), 14/10 (Sept), 6/11 (Oct), 4/12 (Nov).

For further information, please contact: Karin Hygrell-Jonsson, CFO Axfood AB, +46 70-662 69 70 Anders Strålman, President and CEO, mobile +46-708-37 88 37

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.