Continued growth with maintained profitability

First quarter summary 2016

  · Consolidated sales amounted to SEK 10,395 m (9,566), an increase of 8.7%.
− Retail sales for Group-owned stores increased by 7.9%.
− Like-for-like sales increased by 5.2%.

  · Operating profit for the period was SEK 408 m (329), corresponding to an
operating margin of 3.9% (3.4%).

  · Profit after financial items for the period was SEK 405 m (328).

  · Net profit for the period was SEK 316 m (256), and earnings per share were
SEK 1.51 (1.22).

  · Axfood expects operating profit for 2016 to exceed the outcome for 2015.
For further information, please contact:
Anders Strålman, President and CEO, Axfood AB, +46 70 293 16 93
Karin Hygrell-Jonsson, CFO, Axfood AB, +46 70 662 69 70
Cecilia Ketels, Head of Investor Relations, Axfood AB, +46 72 23 606 43
At Axfood we work with passion for food and people. Our strength is in
developing and driving successful grocery formats in the Swedish market with
responsibility for the environment and sustainable development. Axfood includes
the Willys and Hemköp chains as well as the Tempo, Handlar’n and Direkten
formats, which are proprietor-owned and organized within Axfood Närlivs. B2B
sales are sold through the Axfood Snabbgross chain, and wholesaling is conducted
through Dagab. Axfood is listed on Nasdaq Stockholm, and the principal owner is
Axel Johnson AB. Read more at axfood.se (http://www.axfood.se/).