Year-End Report, Axfood AB (publ.) 1 January-31 December 2003

Year-End Report, Axfood AB (publ.) 1 January-31 December 2003 Axfood's consolidated sales in 2003 amounted to SEK 33,616 m (33,115) during the period, an increase of 1.5%. Retail sales for Axfood's wholly owned businesses in Sweden rose 13.6% during the year, with same-store sales rising 3.3%. The sales increase during the fourth quarter for Axfood's wholly owned businesses in Sweden was 11.1%, with same-store sales rising 2.9%. Operating profit for the period January-December was SEK 1,034 m (1,023). Operating profit includes a capital gain of SEK 110 m on sales of real estate (37) and SEK 22 m (0) on the sale of an associated company. Operating profit for the fourth quarter was SEK 274 m (271). Profit after tax was SEK 684 m (625). Earnings per share were SEK 12.85 (11.75). Axfood's financial position strengthened. Interest-bearing net debt decreased by SEK 717 m during the year, to SEK 363 m. The equity ratio increased in 2003 from 24.6% to 32.2%. The Board of Directors proposes a dividend of SEK 5.50 per share (5.00). The forecast for 2004 is that profit, excluding items affecting comparability, will improve compared with the outcome for 2003. Axfood AB bedriver detaljhandel med de helägda butikskedjorna Hemköp, Willys och Willys hemma samt partihandel inom Dagab och Axfood Närlivs. Därutöver samverkar Axfood med ett stort antal fristående handlare knutna till Axfood av franchise eller andra avtal. Totalt omfattar bolaget omkring 500 butiker i Sverige, varav 220 är hel- eller delägda. Den konsoliderade årsomsättningen beräknas till cirka 33 miljarder kr. Antalet anställda är omkring 8 300. Axfood har cirka 290 butiker i Finland, varav 80 är helägda och övriga drivs av fristående handlare. Marknadsandelen i Sverige är 18 procent och i Finland cirka 8 procent vilket gör Axfood till ett av Nordens största börsnoterade bolag inom dagligvaruhandeln. Bolaget är noterat på Stockholmsbörsens O-lista, Attract 40. Huvudägare är Axel Johnson AB med cirka 45 procent av aktierna. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/29/20040129BIT20690/wkr0006.pdf The full report in pdf

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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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