R
EBITDA
esults at Identical Exchange Rates
f
2012
2011 (D
2012/2011
At Actual
Rates
Effect of
Rates
At
Identical
Rates
At Actual
Rates
At Actual
Rates
At
Identical
Rates
evenues
22 737
(1 025)
21 712
21 110
7.7%
2.9%
perating profit
390
(33)
357
813
(52.0%)
(56.1%)
et profit from continuing operations
125
(24)
101
477
(73.7%)
(78.9%)
roup share in net profit
105
(24)
81
475
(77.8%)
(82.9%)
asic earnings from Group share in net
rofit
1.05
(0.24)
0.81
4.71
(77.8%)
(82.9%)
rofit
1.04
(0.24)
0.80
4.68
(77.7%)
(82.8%)
ree cash flow
772
(34)
738
(231)
N/A
N/A
f
2 060
i ber 31, 2012
2 060
i ber 31, 2011
2 647
Chang
(22.1%)
(22.2%)
(1) 2011
Underlying operating profit reconciliation
December 31, 2012
(in millions of
United State s
Belgiu m
p As i a
Corporate
Total
Operating profit (as reported)
343
202
(113)
(42)
390
Add (substract):
Fixed asset impairment charges (reversals)
63
5
204
272
Restructuring expenses (reversals)
Store closing expenses
109
1
15
125
(Gains) losses on disposal of assets
5
7
(1)
1
12
Other
29
(18)
11
Underling operating profit 549 197 105 (41) 810
2012 was significantly impacted by €272 million impairment charges and the store portfolio optimization expenses: €125 millio n
store closing expenses and €22 million of related expenses, included in the caption "Other" and mainly consisting of sales price
mark-downs and accelerated depreciation. In addition, the caption "Other" contains storm damage expenses of €5 million, a
retirement expense of €3 million and severance expenses of €6 million, partially compensated by a net gain of €7 million on the
settlement of legal cases in the U.S. and a payroll tax refund (€18 million) in Belgium.
reconciliation
in millions of 2012
Operating profit (as reported) 390
Add (substract):
Depreciation and amortization 649
Impairment 272
EBITDA 1 311
158 DELHAIZE GROUP FINANCIAL STATEMENTS'12
