€32,841m
€1,188m
€0.44
BBB/Baa3
Group key financial indicators
Results
Leverage and liquidity
Shareholders
Other information
Ahold Annual Report 2012 32
Ahold at a glance
Our strategy
Our performance
Governance
Financials
Investors
2012
million
2011
million
Change versus
prior year
change
constant rates
Net sales
32,841
30,271
8.5%
3.5%
Underlying operating income
1,414
1,375
2.8%
(1.3)%
Underlying operating margin
4.3%
4.5%
(0.2)% pt
Operating income
1,187
1,347
(11.9)%
(15.4)%
Income from continuing operations
830
1,032
(19.6)%
(22.5)%
Net income
827
1,017
(18.7)%
(21.6)%
2012
2011
Change versus
prior year
Liquidity billion)
2.9
3.6
(19.4%)
Net debt million)
1,360
1,088
25.0%
Debt leverage (times)1
1.8
1.8
-
Free cash flow million)
1,188
965
23.1%
Net sales
Free cash flow
2012
2011
Change versus
prior year
Net income per common share (basic)
0.80
0.92
(13.0)%
Adjusted income from continuing
operations per share2
1.00
0.91
9.9%
Dividend payout ratio3
44%
41%
3% pt
Dividend per common share
0.44
0.40
10.0%
Total shareholders return
13.8%
(5.4)%
19.2% pt
2012
2011
Change versus
prior year
Number of stores
(including franchise stores)
3,074
3,008
2.2%
Capital expenditures (excluding acquisitions)
930
808
15.1%
Number of employees
225,000
218,000
3.2%
Credit rating (Standard Poor's Moody's)
BBB Baa3
BBB Baa3
-
Certain key performance indicators contain non-GAAP measures. The definition of these non-GAAP measures are described
on page 51 of this Annual Report.
1 The debt leverage ratio of the net lease adjusted debt divided by EBITDAR is defined in the Non-GAAP measures section.
2 For more information on adjusted income from continuing operations, see Our performance section.
3 Dividend payout ratio is based on adjusted income from continuing operations, see Our performance section for more information.
Dividend per common share
Credit rating
