Axfood — Earnings Release 2008

Feb 3, 2009

PRESS RELEASE February 3 2009

Axfood's sales December 2008

Consolidated net sales (excluding VAT) totalled SEK 2,877 m (2,687), a rise of 7.1% compared with the same period a year ago. Net sales for stores in Sweden owned by the Group rose by 7.4% for the month of December, with a 1.3% rise in like-for-like sales.

Sales for the period January-December 2008 in wholly owned stores rose by 9.6%, with a 4.7% rise in like-for-like sales. Consolidated net sales totalled SEK 31,663 m (29,189), an increase of 8.5%. Net sales for Axfood's stores (wholly owned and franchise units) rose by 9.2%, with a 4.5% rise in like-for-like sales.

Hemköp's sales (wholly owned and franchise units) decreased by 1.0 % during the month, with a 2.6% decrease in like-for-like sales. Accumulated sales rose by 2.4%, with a 0.6% decrease in likefor-like sales.

Net sales for Hemköp's wholly owned stores decreased by 3.5% during the month, with a 4.6% decrease in like-for-like sales. Accumulated sales decreased by 0.7%, with a 3.0% decrease in likefor-like sales.

Willys' sales rose by 6.7% during the month, with a 3.5% rise in like-for-like sales. Accumulated sales rose by 9.1% with a 7.3% rise in like-for-like sales.

PrisXtra's net sales* totalled SEK 70 m, a 2.9% rise. Like-for-like sales decreased by 8.5% during the month. Accumulated like-for-like sales decreased by 2.3%.

	Jan-Dec 2008 SEK m	Jan-Dec 2007 SEK m	Change
Hemköp	5,640	5,674	-0.6%
Willys	16,776	15,382	9.1%
PrisXtra	653	0
Dagab 1)	23,424	21,294	10.0%
Axfood Närlivs 2)	5,662	5,465	3.6%
Other 3)	1,981	1,230	61.1%
Internal sales 4)	-22,473	-19,856	13.2%
Total	31,663	29,189	8.5%
Of which distributed sales
1) Dagab	15,327	13,921	10.1%
2) Närlivs	4,566	4,389	4.0%

Sales per business operation are broken down as follows:

3) Includes support companies and joint-Group functions.

4) Of which Dagab SEK 20,625 m (18,769 m).

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

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.