,orate
4.1 Bu
South
eastern
Year ended December 31, 201 0 (in millions of United States B
Euro
iu m(2'
PAs i a (3' Corp
Total
Revenues(1) 14 187
4 800
1 863
20 850
Cost of sales (10 272)
(3 803)
(1 422)
(15 497)
Gross profit 3 915
997
441
5 353
Gross margin 27.6%
208%
23.7%
25.7%
Other operating income 43
36
6
85
Selling, general and administrative expenses (3 189)
(795)
(377)
(33)
(4 394)
Other operating expenses (16)
(2)
(2)
(20)
Operating profit (loss) 753
236
68
(33)
1 024
Operating margin 5.3
4.9%
3.7%
4.9%
Operating result of discontinued operations
Other information
Assets 7 850
1 806
1 014
232
10 902
Liabilities 2 592
1 141
508
1 592
5 833
Capital expenditures 410
128
113
9
660
Non-cash operating activities:
Depreciation and amortization 423
104
39
9
575
I (6) j q
Impairment loss 13
1
14
Share-based compensation 14
1
1
16
(1) All revenues are from external parties.
(2) Belgium includes Delhaize Group's operations in Belgium and the Grand Duchy of Luxer,
(3) Southeastern Europe and Asia includes the Group's operations n Greece, Rom an a, Ind
Herzegovina and Montenegro.
ibourg.
onesia and since Augu
st 1, 2011 Serbia, Bulg
aria, Bosnia and
(4) The 2011 consolidated income statement was adjusted for the reclassification of the Alba
inian operations to dis
continued operations.
(5) The December 31, 2011 consolidated balance sheet was revised to reflect the effects of
allocation of the Delta Maxi acquisition.
the completion in the s
econd quarter 2012 of
the purchase price
(6) No impairment loss was recorded or reversed in equity. The 2012 impairment loss includes €16 million on the re-measurement of asse
(see Note 5.3.)
■ts of the disposal
group
Delhaize Group's operation of retail supermarkets represents approximately 90% of the Group's consolidated revenues. The
remaining revenue represents wholesale retail revenues. 1 otal revenues
can be further analyzed as follows.
(as a percentage of revenues)
2012
2011
2010
Retail revenues
- Food - perishable
40.0%
37.9%
40.0%
- Food - non-perishable
35.6%
36.1%
35.5%
- Non -food
13.4%
15.0%
13.8%
Total retail revenues
89.0%
89.0%
89.3%
W holesale revenues
11.0%
11.0%
10.7%
Total revenues
100.0%
100.0%
100.0%
Delhaize Group is not reliant on any individual major customer and, consequently, there are no individual
total amount of revenue derived from that customer would be more than 10% of Delhaize Group's revenue.
customers where the
4. Business Combinations and Acq uisi tio
n of Non-c
ontrolling I
nterests
usiness Combinations
Ac quisitions during 2012
During 2012, Delhaize G roup entered into several agreements in Belgium and Romania that have resulted in the acquisition of
businesses and were accounted for in accordance with IFRS 3. The total consideration transferred during the year for these
transactions was €5 million and resulted in an increase of goodwill of €3 million.
Ac quisitions during 2011
Acquisition of Delta M a xi
On J u ly 27, 2011, Delhaize G roup acquired 100% of the shares and voting rights of Delta Maxi for a purchase price of €615
million, subject to customary purchase price adjustments, but not any earn-out or similar clauses.
DELHAIZE GROUP FINANCIAL STATEMENTS '12 91
