Axfood: Interim Report January 1 -- March 30, 2003


STOCKHOLM, Sweden, April 23, 2003 (PRIMEZONE) -- Axfood AB (publ.):

- Axfood's consolidated sales amounted to SEK 7,956 m (7,990), a decrease of 0.4%.

- Adjusted for Easter sales, which were during the first quarter in 2002, sales increased by approximately 1.9%. Retail sales for Axfood's wholly owned businesses in Sweden rose by 11.4% during the first quarter.

- Operating profit for the period January-March was SEK 206 m (234).

- Profit after net financial items was SEK 185 m (205).

- Axfood has signed an agreement on the sale of the company's Swedish real estate holdings. The transaction will be carried out on 30 April and is expected to generate a capital gain of approximately SEK 110 m during the second quarter.

- Axfood expanded its wholly owned retail business by seven new stores during the first quarter. The stores are expected to generate approximately SEK 900 m in annual sales.


For further information, please contact: 
Mats Jansson, President and CEO
+46-8-553 998 10, mobile +46-70-569 48 11

Lars Nilsson, Executive Vice President, Deputy CEO and CFO
+46-8-553 998 11, mobile +46-70-569 66 33 

Bodil Eriksson, Executive Vice President
  Corporate Communications and Investor Relations
+46-8-553 998 17, mobile +46-70-629 66 34

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The following files are available for download:

http://www.waymaker.net/bitonline/2003/04/23/20030423BIT01000/wkr0001.doc

The full report

http://www.waymaker.net/bitonline/2003/04/23/20030423BIT01000/wkr0002.pdf The full report