Ahold Earnings Q1 2009

Q1 2009 highlights

*            Sales up 15% to EUR  8.7 billion
*            Operating income up 18% to EUR  396 million
*            Net income EUR  196 million
*            Stop & Shop/Giant-Landover operating income up 20% to $
             242 million

Ahold today published its interim report for the first quarter 2009. CEO John Rishton said: "In our first quarter we continued to make good progress with our strategy for profitable growth. We had strong sales and solid margins in the Netherlands and the United States, despite the challenging economic environment.

"Identical sales growth at Stop & Shop and Giant-Landover were the strongest in many years, helping us grow market share and margin. Giant-Carlisle gained significant market share in a highly competitive and promotional market.

"In Europe, Albert Heijn continued to successfully balance sales, market share and margin. In Central Europe, the weak economy and the introduction of the euro in Slovakia impacted results. We are taking aggressive restructuring actions in both the Czech Republic and Slovakia to build a firm foundation for the future.

"Net income for the first quarter for the group was down 25%, reflecting higher taxes and a EUR 66 million net provision for lease guarantees for BI-LO and Bruno's."

Ahold Earnings Q1 2009 Interim Financial Report: http://hugin.info/130711/R/1318023/307613.pdf

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