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Net sales in local currency
Operating income in local currency
Underlying retail operating income
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Financials
Investors
Non-GAAP measures continued
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.
In certain instances operating income is presented in local currency. Ahold's management
believes this measure provides better insight into the operating performance of Ahold's
foreign subsidiaries.
Total retail operating income, adjusted for impairment of non-current assets, gains and losses
on the sale of assets, and restructuring and related charges. Ahold's management believes
this measure provides better insight into the underlying operating performance of Ahold's
retail operations.
Management believes that these non-GAAP financial measures allow for a better understanding
of Ahold's operating and financial performance. These non-GAAP financial measures should be
considered in addition to, but not as substitutes for, the most directly comparable IFRS measures
