1 January – 30 September 2009

Axfood AB

2

Axfood AB 1 January – 30 September 2009

• Consolidated sales : SEK 23,947 m (23,519), an increase of 1.8%

• Good operating profit: SEK 838 m (800)

• Operating margin: 3.5% (3.4)

3

Hemköp 1 January – 30 September 2009

• Positive result despite restructuring costs

– Improved cost control– Increased gross profit

• Focus on improving sales

• Continued high pace in action programme for underperforming stores

4

Willys 1 January – 30 September 2009

• Continued good performance

• Leading position in soft discount– Good store operations– Attractive mix between price &

assortment– Increased marketing activities

• Renewal of concept according to plan, so far 24 stores

5

PrisXtra 1 January – 30 September 2009

• New president

• Decrease in sales for two stores due to major road work

• Focus on improving sales

66

Axfood Närlivs 1 January – 30 September 2009

• Renewed contract with EMAB

• Good development despite fierce competition

• Cash & Carry showed very strong performance

7

Dagab 1 January – 30 September 2009

• Continued excellent service level

• Implementation of Autoordercontinued as planned

8

Well positioned in a weak economy

• Continued strong price competition and weak economy

• Increased price consciousness among customers

• We will continue offering competitive prices

• Development of private label

0

5

10

15

20

25

-01 -02 -03 -04 -05 -06 -07 -08

% Private label share

9

Unchanged strategy for profitable growth

• Continued strong cost control

• Continued focus on sales growth

• Develop and improve the variousconcepts

• Good price & product range

• Greater efficiency

10

Axfood´s goal for 2009

Axfood´s goal for 2009 is to achieve an operating profit of at least SEK 1 billion

1 January – 30 September 2009

Financial Performance

12

Axfood AB 1 January – 30 September 2009

• Strong cost control

• Good profitability

• Stable sales

-

+ 4.8%

+1.8 %

Change

3.4%3.5%Operating margin

800838 Operating profit

23,51923,947Net sales

20082009Group , SEK m

13

Hemköp 1 January – 30 September 2009

Sales Operating profit

-0.4%0.6%Operating margin

20082009

-09 -08

4,189 3,977

-09 -08

-18

22

14

Willys 1 January – 30 September 2009

+5.2%

Sales

4.4%4.2%Operating margin

20082009

Operating profit

-09 -08

12,42113,062

-09 -08

543 549

15

PrisXtra 1 January – 30 September 2009

• Main focus on sales growth and store performance

-

-

-

Change

1.8%0.7%Operating margin

84 Operating profit

450542 Net sales

20082009SEK m

1616

Axfood Närlivs 1 January – 30 September 2009

-

+ 20.5%

-1.8%

Change

2.1%2.5%Operating margin

88106 Operating profit

4,2684,190 Net sales

20082009SEK m

• High level of delivery reliability

• Good development despite competitive market

17

Dagab 1 January – 30 september 2009

• Excellent service level

-

+ 5.4%

+ 2.3%

Change

0.5%0.6%Operating margin

9398 Operating profit

17,37417,774 Net sales

20082009SEK m

18

Other 1 January – 30 September 2009

• Sales: SEK 2,460 m (1,411)

• Operating profit: SEK 65 m (80)

• Increased sales are driven by fruit & vegetables and centrally packed meat

• Lower overhead costs

• Changes in internal pricing since Q3 2008 has affected the operating profit for the two first quarters 2009

1919

Key ratios

• Balance sheet, total: SEK 7,025 m (7,195)

• Cash flow operating activity: SEK 1,017 m (754)

• Capex: SEK 439 m (939)

• Equity ratio: 34.6% (28.7)

20

Strong financial posistion

Q1 2006 – Q3 2009

0

400

800

1 200

1 600

2 000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q30

0,25

0,5

0,75

1

1,25Debt, short term, MSEKDebt, long term, MSEKDebt equity ratio mutiple

2006 2007 2008 2009

21

Financial targets & dividend policy

• Axfood´s goal for 2009 is to achieve an operating profit of at least SEK 1 billion

• Equity ratio of at least 25%

• Shareholder dividend of at least 50% of profit for the yearafter tax, for 2008 the dividend was SEK 8 (12)

• Long term target for operating margin: 4%

22

Summary financial performance

• Good results

• Efficiency and good cost control

• Strong balance sheet & cash flow

Time for questions!