SOURCE: Ahold NV

October 20, 2009 00:53 ET

Ahold Trading Statement Q3 2009

AMSTERDAM, NETHERLANDS--(Marketwire - October 20, 2009) - Ahold today announced consolidated net sales of EUR 6.0 billion for the third quarter ending October 4, 2009. Compared to the third quarter of 2008, net sales increased by 4.3% and increased by 2.6% at constant exchange rates.

In the third quarter, Ahold delivered volume growth in all markets. Sales were impacted by deflation and trading down by customers while increased promotional activity continued, especially in the United States.

Sales performance

Stop & Shop/Giant-Landover

  * Net sales increased 1.9% to $ 4.0 billion.
  * Identical sales increased 0.2% at Stop & Shop (0.7% excluding
    gasoline) and increased 2.3% at Giant-Landover (1.5% excluding
    gasoline).
  * Comparable sales increased 0.6% at Stop & Shop and increased 2.7%
    at Giant-Landover.

Giant-Carlisle

  * Net sales increased 0.8% to $ 1.1 billion.
  * Identical sales decreased 1.5 % (increased 1.0% excluding
    gasoline).
  * Comparable sales decreased 0.1%.

Albert Heijn

  * Net sales increased 5.4% to EUR  2.1 billion.
  * Net sales at Albert Heijn supermarkets were EUR  1.9 billion, up
    4.9% compared to last year, primarily due to the conversion of
    former Schuitema stores into the Albert Heijn format in the
    second half of 2008.
  * Identical sales at Albert Heijn supermarkets decreased 0.4 %.

Albert/Hypernova (Czech Republic and Slovakia)

  * Net sales decreased 8.0% to EUR  378 million (3.5% at constant
    exchange rates), impacted by store closures as part of our
    restructuring program.
  * Identical sales decreased 3.4% (4.0% excluding gasoline).

Unconsolidated joint venture - ICA

* Net sales decreased 6.4% to EUR 2.3 billion. At constant exchange rates, net sales increased 1.3%.


Ahold Press Office: +31 (0)20 509 5291


Net sales per segment


                      Q3       Q3       %      Q3 YTD   Q3 YTD     %
(in millions)        2009    2008*    Change    2009    2008*    Change

All segments (in
euros)

Stop &
Shop/Giant-Landover  2,775    2,630     5.5%    9,829    8,599    14.3%
Giant-Carlisle         767      736     4.2%    2,691    2,387    12.7%
Ahold USA            3,542    3,366     5.2%   12,520   10,986    14.0%

Albert Heijn         2,120    2,012     5.4%    7,352    6,753     8.9%
Albert/Hypernova       378      411   (8.0)%    1,252    1,333   (6.1)%
Ahold Europe         2,498    2,423     3.1%    8,604    8,086     6.4%

Ahold Group          6,040    5,789     4.3%   21,124   19,072    10.8%

Unconsolidated
joint venture - ICA  2,252    2,405   (6.4)%    6,544    7,104   (7.9)%
Average U.S. dollar
exchange rate
(euro per U.S.
dollar)             0.6969   0.6736     3.5%   0.7323   0.6589    11.1%


U.S. segments (in
U.S. dollars)

Stop &
Shop/Giant-Landover  3,981    3,905     1.9%   13,424   13,052     2.9%
Giant-Carlisle       1,101    1,092     0.8%    3,676    3,623     1.5%


*  Due to changes in accounting policies applied retrospectively,
comparative information has been changed as explained further under
Notes to this Trading Statement.


Notes

The net sales figures presented in this trading statement are preliminary and unaudited.

Changes in accounting policies

  * As of 2009, Ahold has applied IFRIC 13 "Customer Loyalty
    Programs", which addresses accounting by entities that grant
    customer loyalty award credits to their customers. The adoption
    of IFRIC 13, which Ahold has applied retrospectively, resulted in
    a EUR  3 million decrease in net sales at Albert Heijn for the third
    quarter of 2008 (Q3 YTD 2008: a decrease of EUR  10 million).
  * As of 2009, rent income earned by certain real estate
    subsidiaries is netted against the related expense, whereas
    previously it was included in net sales. Comparative information
    has been changed accordingly, with the effect that net sales for
    the third quarter of 2008 decreased by EUR  14 million (Q3 YTD 2008:
    EUR  45 million), predominantly at Albert Heijn.

Definitions

  * Identical sales: net sales from exactly the same stores in local
    currency for the comparable period.
  * Comparable sales: identical sales plus net sales from replacement
    stores in local currency.
  * Constant exchange rates: excludes the impact of using different
    currency exchange rates to translate the financial information of
    Ahold subsidiaries or joint ventures to euros. For comparison
    purposes, the financial information of the previous year or
    quarter is adjusted using the average currency exchange rates for
    the current year or quarter in order to understand this currency
    impact.

Non-GAAP financial measures

This trading statement includes the following non-GAAP financial measures:

  * Net sales at constant exchange rates. Net sales at constant
    exchange rates exclude the impact of using different currency
    exchange rates to translate the financial information of Ahold
    subsidiaries or joint ventures to euros. Ahold's management
    believes this measure provides a better insight into the
    operating performance of Ahold's foreign subsidiaries or joint
    ventures.
  * Net sales in local currency. In certain instances, net sales are
    presented in local currency. Ahold's management believes this
    measure provides a better insight into the operating performance
    of Ahold's foreign subsidiaries.
  * Identical sales, excluding gasoline net sales. Because gasoline
    prices have experienced greater volatility than food prices,
    Ahold's management believes that by excluding gasoline net sales,
    this measure provides a better insight into the growth of its
    identical store sales.

Ahold's financial year

Ahold's financial year consists of 52 or 53 weeks and ends on the Sunday nearest to December 31. Ahold's 2009 financial year consists of 53 weeks and ends on January 3, 2010. The quarters in 2009 are:


First Quarter (16 weeks)   December 29, 2008 through April 19, 2009
Second Quarter (12 weeks)  April 20 through July 12, 2009
Third Quarter (12 weeks)   July 13 through October 4, 2009
Fourth Quarter (13 weeks)  October 5, 2009 through January 3, 2010


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