Financial review (continued)
Ahold Annual Report 2012 39 Ahold at a glance
Our strategy
Our performance
Governance
Financials
Investors
Capital investments and property overview
Capital expenditures, which include new finance leases, amounted to
€1.9 billion in 2012 and €0.9 billion in 2011 and were primarily related
to the construction, remodeling and expansion of stores and supply
chain and IT infrastructure improvements. In 2012, capital expenditures
also included the assets acquired with acquisition of bol.com and
15 Genuardi's stores, and the transfer of 82 stores from Jumbo,
including subsequent remodeling costs. Excluding acquisitions, capital
expenditures in 2012 were €0.9 billion, in line with our guidance.
Capital expenditures
billion
2008 2009 2010 2011 2012
Regular capex Acquisition capex Regular Capex as a of net sales
At the end of 2012, we operated 3,074 stores, a net increase of 66
stores. Total sales area increased by 2.4% to 4.7 million square meters.
This includes franchise stores and excludes the stores operated by our
joint ventures ICA and JMR.
January 1, Opened Closed December 30,
2012 acquired sold 2012
Ahold USA 756
23
(7)
772
The Netherlands1 1,946
69
(19)
1,996
Other Europe 306
2
(2)
306
Total 3,008
94
(28)
3,074
1 The number of stores as of December 30, 2012, includes 1,105 specialty stores
(Etos and Gall Gall).
Franchisees operated 809 Albert Heijn, Etos and Gall Gall stores,
491 of which were either owned by the franchisees or leased
independently from Ahold.
Ahold
Franchisees
Total
Number of stores leased
or owned
2,583
491
3,074
Number of stores subleased
to franchisees
(318)
318
0
Number of stores operated
2,265
809
3,074
Ahold's stores range in size from 20 to 10,000 square meters.
The average sales area of our stores in the United States is
approximately 3,800 square meters and in Europe approximately
1,300 square meters (excluding Etos and Gall Gall, which operate
much smaller stores).
In 2012, we opened six stand-alone pick-up points which, when added
to the total number of stores owned or leased by Ahold, brings the
company's total number of retail locations to 2,589.
We also operated the following other properties as of
December 30, 2012:
Warehouses distribution centers
production facilities offices
87
Properties under construction development
38
Investment properties
735
Total
860
The 735 investment properties consist of buildings and land. Virtually
all these properties were subleased to third parties. The majority were
shopping centers containing one or more Ahold stores and third-party
retail units generating rental income.
The following table breaks down the ownership structure of our 2,589
retail locations and 860 other properties as of December 30, 2012:
Retail
Other
of total
locations
properties
Company-owned
21%
37%
Leased
79%
63%
of which
Finance leases
13%
7%
Operating leases
66%
56%
Our leased properties have terms of up to 25 years, with renewal
options for additional periods. Store rentals are normally payable on
a monthly basis at a stated amount or, in a limited number of cases,
at a guaranteed minimum amount plus a percentage of sales over a
defined base.
