Interim Report Axfood AB – 1 Jan.-31 March 2011

- Axfood's consolidated sales for the period January–March totalled SEK 8,257 m (8,210), an increase of 0.6%.

- Retail sales for Group-owned stores decreased by 0.4% during the period. Like-for-like sales decreased by 2.4%.

- Operating profit for the period was SEK 241 m (245).

- Profit after financial items for the period was SEK 233 m (235).

- Profit after tax for the period was SEK 172 m (174), and earnings per share were SEK 3.28 (3.31).

- Axfood's goal for 2011 is to achieve an operating profit at least at the same level as in 2010.

For further information, please contact:
Anders Strålman, President and CEO, mobile +46-70-293 16 93.
Karin Hygrell-Jonsson, CFO, mobile +46-70-662 69 70.
Anne Rhenman-Eklund, Head of Corporate Communications, +46-8-553 998 13,
mobile +46-70-280 64 59.

Axfood AB conducts food retail and wholesale business in Sweden. Retail business is conducted through the wholly owned store chains Willys, Hemköp and PrisXtra, comprising 229 stores in all. In addition, Axfood collaborates with a number of proprietor-run 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 approximately 840 proprietor-run stores. Wholesaling is conducted through 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.