Axfood — Earnings Release 2009

Jun 4, 2009

Axfood's sales for May 2009

Consolidated net sales for the month of May (excluding VAT) totalled SEK 2,706 m (2,716), a decrease of 0.4 % compared with the same period a year ago. Net sales for Group-owned stores rose 1.9 % in May, with a 1.4 % increase in like-for-like sales. Axfood's stores (Group-owned and Hemköp franchises) posted a 1.8 % increase in sales, with a 1.1 % increase in like-for-like sales.

During the period January–May 2009, sales for Group-owned stores rose 3.3 %, with a 0.4 % increase in like-for-like sales. Consolidated net sales amounted to SEK 13,137 m (12,871), an increase of 2.1 %. Axfood's stores (Group-owned and Hemköp franchises) posted a 3.1 % increase in sales, with a 0.3 % increase in like-for-like sales.

Hemköp's sales (Group-owned and franchises) decreased by 3.6 % during the month, with a 3.4 % decrease in like-for-like sales. Accumulated sales decreased by 2.7 %, with a 2.9 % decrease in likefor-like sales.

Sales for Group-owned stores decreased by 6.9 % during the month, with a 5.1 % decrease in likefor-like sales. Accumulated sales decreased by 5.6 %, with a 5.0 % decrease in like-for-like sales.

Willys' sales rose 4.6 % during the month, with a 3.2 % increase in like-for-like sales. Accumulated sales increased by 5.4 %, with a 2.0 % increase in like-for-like sales.

PrisXtra's sales increased by 6.9 % during the month, with an 5.5 % decrease in like-for-like sales.

	Jan.–May 2009 SEK m	Jan.–May 2008 SEK m	Change %
Hemköp	2,259	2,390	-5.5 %
Willys	7,179	6,808	5.4 %
PrisXtra	318	244	-
Dagab 1)	9,717	9,488	2.4 %
Axfood Närlivs 2)	2,191	2,253	-2.8 %
Other 3)	1,325	748	77.1 %
Internal net sales 4)	-9,852	-9,060	8.7 %
Total	13,137	12,871	2.1 %
Of which, distributed sales
1) Dagab	6,492	6,209	4.6 %
2) Axfood Närlivs	1,839	1,818	1.2 %

Sales per business unit are broken down as follows:

3) Includes support companies and joint-Group functions. The deviation compared to previous year is due to extended fresh food operations. This effect is mainly eliminated under internal sales.

4) Of which, Dagab SEK 8,584 m (8,382).

* PrisXtra's sales are consolidated in the Axfood Group as per 1 February 2008.

The sales figures are preliminary. Definite figures are presented continuously on www.axfood.com under the headline Investors. Sales figures will be published: 16/7 (Q2), 6/8, 4/9, 21/10 (Q3), 5/11, 4/12.

For further information, please contact:

Anne Rhenman, Head of IR, Axfood AB, +46-70-280 64 59 Karin Hygrell-Jonsson, CFO, Axfood AB, +46-706-62 69 70

Axfood AB conducts food retail and wholesale trade in Sweden. The Group's retail operations are conducted through the wholly owned Willys, Hemköp and PrisXtra chains, comprising 226 stores in all. In addition, Axfood collaborates with a large number of proprietorrun stores that are tied to Axfood through agreements. These include stores within the Hemköp and Willys chains as well as stores run under the Handlar'n and Tempo profiles. In all, Axfood collaborates with some 650 proprietor-run stores. Wholesale business is conducted via Dagab and Axfood Närlivs. Axfood is listed on Nasdaq OMX Stockholm AB's Large Cap list. Axel Johnson AB is the principal owner with approximately 46% of the shares.