Axfood — Earnings Release 2009

Apr 17, 2009

PRESS RELEASE, 17 April 2009

Axfood's sales for March 2009

Consolidated net sales for the month of March (excluding VAT) totalled SEK 2,698 m (2,660), an increase of 1.4% compared with the same period a year ago. Net sales for Group-owned stores rose 0.2% in March, with a 2.5% decrease in like-for-like sales. Axfood's stores (Group-owned and Hemköp franchises) posted a 0.2% increase in sales, with a 2.3% decrease in like-for-like sales.

During the period January–March 2009, sales for Group-owned stores rose 3.2%, with a 1.0% decrease in like-for-like sales. Consolidated net sales amounted to SEK 7,682 m (7,495), an increase of 2.5%. Axfood's stores (Group-owned and Hemköp franchises) posted a 2.8% increase in sales, with a 1.0% decrease in like-for-like sales.

Hemköp's sales (Group-owned and franchises) decreased by 3.3% during the month, with a 3.5% decrease in like-for-like sales. Accumulated sales decreased by 2.8%, with a 3.4% decrease in like-forlike sales.

Sales for Group-owned stores decreased by 5.9% during the month, with a 5.3% decrease in like-forlike sales. Accumulated sales decreased by 5.0%, with a 5.4% decrease in like-for-like sales.

Willys' sales rose 2.1% during the month, with a 1.9% decrease in like-for-like sales. Accumulated sales increased by 4.4%, with a 0.3% increase in like-for-like sales.

PrisXtra's sales rose 3.2% during the month, with an 11.5% decrease in like-for-like sales.

	Jan.–March 2009 SEK m	Jan.–March 2008 SEK m	Change %
Hemköp	1,357	1,426	-4.8%
Willys	4,186	4,009	4.4%
PrisXtra	194	124	-
Dagab 1)	5,669	5,505	3.0%
Axfood Närlivs 2)	1,242	1,256	-1.1%
Other 3)	728	428	70.1%
Internal net sales 4)	-5 694	-5,253	8.4%
Total	7,682	7,495	2.5%
Of which, distributed sales
1) Dagab	3,781	3,646	3.7%
2) Axfood Närlivs	1,039	1,020	1.9%

Sales per business unit are broken down as follows:

3) Includes support companies and joint-Group functions.

4) Of which, Dagab SEK 4,998 m (4,865).

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

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.