Interim Report Axfood AB, 1 January-30 September 2004

Interim Report Axfood AB, 1 January-30 September 2004 · Axfood's consolidated sales during the first nine months of the year amounted to SEK 25,330 m (24,972), an increase of 1.4%. Retail sales for Axfood's wholly owned stores in Sweden rose 7.5%, with a 4.1% rise in same-store sales. Retail sales for wholly owned stores in Spar Finland rose 7.1% during the period in local currency, with a 2.5% drop in same-store sales. · Operating profit for the third quarter, which was the best in Axfood's history, was SEK 316 m (242), with an operating margin of 3.7% (2.9%). · Operating profit for the period January-September was SEK 757 m (760). Operating profit for 2003 included a capital gain of SEK 110 m on the sale of real estate. · Profit after tax for the period January-September was SEK 497 m (494). Earnings per share were SEK 9.28 m (9.28). · The forecast that 2004 profit, excluding items affecting comparability, will improve compared with the outcome for 2003, remains unchanged. · The financial net position at the end of the period was positive and amounted to SEK 100 m. Axfood AB is a retail food group comprising the wholly owned store chains Hemköp, Willys and Willys hemma and wholesale operations through Dagab and Axfood Närlivs. Additionally, Axfood works with a large number of independent merchants who are tied to Axfood by franchising or other agreements. In all the Group comprises some 500 stores in Sweden, of which about 220 are wholly or partly owned. Consolidated annual sales are approximately SEK 33 billion, with approximately 8,600 employees. Axfood has approximately 290 stores in Finland, of which 90 are wholly owned and the remainder are operated by independent merchants. Axfood has a market share of 18% in Sweden and approximately 8% in Finland, making it one of the largest, listed retail food groups in the Nordic region. The company is listed on the Stockholm Stock Exchange 0-List, Attract 40. Axel Johnson AB is the principal owner with approximately 45% of the shares. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/20/20041020BIT21110/wkr0001.pdf The entire report

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Axfood AB conducts retail trade through the wholly owned store chains Hemköp, Willys and Willys hemma 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.

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