Five-year overview
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Financials
Results, cash flow and other information
million, except per share data 2011 2010 2009 2008 2007
Net sales
30,271
29,530
27,925
25,648
24,824
Net sales growth at constant exchange rates1
5.5%
4.4%
3.9%
6.9%
6.6%
Operating income
1,347
1,336
1,297
1,202
1,071
Underlying retail operating margin
4.8%
4.9%
5.1%
5.1%
4.9%
Net interest expense
(225)
(270)
(289)
(233)
(293)
Income (loss) from continuing operations
1,032
863
972
887
779
Income (loss) from discontinued operations
(15)
(10)
(78)
195
2,167
Net income
1,017
853
894
1,082
2,946
Net income per common share (basic)
0.92
0.73
0.76
0.92
2.03
Net income per common share (diluted)
0.89
0.72
0.74
0.90
2.01
Income per common share from continuing operations (basic)
0.93
0.74
0.82
0.76
0.54
Income per common share from continuing operations (diluted)
0.90
0.73
0.81
0.74
0.53
Dividend per common share
0.40
0.29
0.23
0.18
0.16
Free cash flow2
965
1,112
948
638
633
Net cash from operating, investing, and financing activities
(226)
(157)
(169)
(445)
1,487
Capital expenditures (including acquisitions)3
881
1,117
788
1,094
807
Capital expenditures as of net sales
2.9%
3.8%
2.8%
4.3%
3.3%
Average exchange rate per
0.7189
0.7555
0.7194
0.6828
0.7307
1 Net sales growth in 2010 and 2009 is adjusted for the impact of week 53 in 2009.
2 Includes the settlement of the securities class action €284 million in 2007.
3 The amounts represent additions to property, plant and equipment, investment property, and intangible assets. The amounts include assets acquired through business
combinations and exclude discontinued operations.
Balance sheet and other information
million
January 1
2012
January 2,
2011
January 3,
2010
December 28,
2008
December 30,
2007
Equity1
5,877
5,910
5,440
4,687
3,897
Gross debt
3,680
3,561
3,700
4,241
5,379
Cash, cash equivalents, and short-term deposits
2,592
2,824
2,983
2,863
3,263
Net debt
1,088
737
717
1,378
2,116
Total assets
14,980
14,725
13,933
13,603
13,953
Number of stores
3,008
2,970
2,909
2,897
3,225
Number of employees (in thousand FTEs)2
121
128
118
119
119
Number of employees (in thousands headcount)3
218
213
206
203
197
Common shares outstanding (in millions)1
1,060
1,145
1,181
1,177
1,172
Share price at Euronext
10.41
9.88
9.26
8.83
9.47
Market capitalization1
11,033
11,314
10,938
10,390
11,098
Year-end exchange rate per
0.7724
0.7474
0.6980
0.7111
0.6795
1 In 2011 €837 million was returned to shareholders through a share buyback (in 2010: €386 million). In 2007, €4 billion was returned to shareholders through a capital repayment
and share buyback.
2 Number of employees (in thousand FTEs) as of January 2, 2011 includes an increase of 6 thousand full-time employees in order to correct the number disclosed in Ahold's 2010
Annual Report.
3 Number of employees (headcount) in 2007 has been adjusted from numbers previously reported to include discontinued operations.
