Continued good growth with exceptional profitability

Summary of second quarter 2016

  · Consolidated net sales amounted to SEK 10,991 m (10,478), an increase of
4.9%.
- Retail sales for Group-owned stores increased by 3.1%.
- Like-for-like sales for Group-owned stores increased by 0.9%.
  · Operating profit for the period was SEK 494 m (431), corresponding to an
operating margin of 4.5% (4.1%).
  · Profit after financial items was SEK 493 m (429) for the period.
  · Net profit for the period was SEK 384 m (334), and earnings per share were
SEK 1.83 (1.59).
  · Axfood expects operating profit for 2016 to exceed profit for 2015.

Summary of interim period January-June 2016

  · Consolidated net sales amounted to SEK 21,386 m (20,044), an increase of
6.7%.
- Retail sales for Group-owned stores increased by 5.4%.
- Like-for-like sales for Group-owned stores increased by 3.0%.
  · Operating profit for the period was SEK 902 m (760), corresponding to an
operating margin of 4.2% (3.8%).
  · Profit after financial items was SEK 898 m for the period (757).
  · Net profit for the period was SEK 700 m (590), and earnings per share were
SEK 3.34 (2.81).

Welcome to the audio cast on Friday July 15, at 2:00 pm CET, when Anders
Strålman and Karin Hygrell-Jonsson present the second quarter 2016. The audio
cast can also be listened to at axfood.se/en.
Sweden: +46 8 566 42 662
UK: +44 20 300 898 11
US: +1 855 753 22 36
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 72 236 06 43
The information herein is such that Axfood AB (publ) is required to make public
in accordance with the EU’s Market Abuse Regulation and the Swedish Securities
Market Act. The information was submitted for publication, through the adjacent
contact person, at 1 p.m. (CET) on 15 July 2016.

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/).