Axfood — Earnings Release 2008

Mar 6, 2008

Axfood's sales February 2008

Consolidated net sales (excluding VAT) totalled SEK 2,450 m (2,191), a rise of 11.8% compared with the same period a year ago. Net sales for stores in Sweden owned by the Group rose by 12.0% for the month of February, with a 8.0% rise in like-for-like sales.

Sales for the period January-February 2008 in wholly owned stores rose by 7.8%, with a 5.9% rise in like-for-like sales. Consolidated net sales totalled SEK 4,833 m (4,449), an increase of 8.6%. Net sales for Axfood's stores (wholly owned and franchise units) rose 8.1%, with a 5.8% rise in likefor-like sales.

Hemköp's sales (wholly owned and franchise units) increased by 5.4 % during the month, with a 2.6% rise in like-for-like sales. Accumulated sales increased by 4.3%, with a 1.2% rise in like-forlike sales.

Net sales for Hemköp's wholly owned stores increased by 2.2% during the month, with a 0.1% decrease in like-for-like sales. Accumulated sales increased by 1.2%, with a 1.1% decrease in likefor-like sales.

Willys' sales rose by 10.7% during the month, with a 10.7% rise in like-for-like sales. Accumulated sales rose by 7.9% with a 8.3% rise in like-for-like sales.

PrisXtra's net sales* totalled SEK 59 m (52), a rise of 13.5%. Like-for-like sales rose by 6.8%.

	Jan-Feb 2007 SEK m	Jan-Feb 2006 SEK m	Change
Hemköp	929	918	1,2%
Willys	2,577	2,388	7,9%
PrisXtra	59	0
Dagab 1)	3,602	3,229	11,6%
Axfood Närlivs 2)	827	746	10,9%
Övrigt 3)	281	174	61,5%
Internomsättning 4)	-3,442	-3,006	14,5%
Totalt	4,833	4,449	8,6%
varav distribuerad omsättning
1) Dagab	2,392	2,151	11,2%
2) Närlivs	678	615	10,2%

Sales per business operation are broken down as follows:

3) Includes support companies and joint-Group functions.

4) Of which Dagab SEK 3,183 m (2,860 m).

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

Preliminary sales figures will be presented on the following date: 16/4 (March), 7/5 (April), 5/6 (May), 16/7 (June), 6/8 (July), 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 and Willys hemma, 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.