H
HaEl
□I
43
Financial review (continued)
million
Capital investments and property
overview
billion i 9
Ahold at a glance Our strategy
Our performance
Governan
Financials
Investors
Ahold Annual Report 2013
Free cash flow1
2009
2010
2011
2012
2013
1 Including restatements, see Note 3 to the consolidated financial
statements for an explanation of the restatements.
In 2013, the main uses of free cash flow included:
K Share buyback of €768 million on the €2 billion
program planned to be completed by 2014
K Common stock dividend at €0.44 per share
resulting in a cash outflow of €457 million
K Debt repayments totaling €94 million primarily
related to regular payments on finance
lease liabilities
Cash flow from discontinued operations reflects the
dividends received from ICA.
Other cash flows in 2013 included a settlement
paid to Vornado (€92 million), the result of a
judgment rendered in the Stop Shop Bradlees
lease litigation, and in 2012, a positive impact of
the settlement of the cross-currency swap on the
€407 million notes repaid last year.
Capital expenditures, which include new finance
leases, amounted to €0.8 billion in 2013, just below
our guidance as we continue to focus on capital
efficiency. Our investments were primarily related
to the construction, remodeling and expansion of
stores and supply chain (including online) and IT
infrastructure improvements.
In 2012, capital expenditures of €1.9 billion also
included the assets acquired with the 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.
Capital expenditures1
0.8
1.1
0.9
0.8
0.9
2.8%
0.8
2.8%
0.8
2.9%
0.8
2.7%
0.8
2.5%
2009
2010
2011
2012
2013
Acquisition capex
Regular capex
Regular capex as of sale
At the end of 2013, we operated 3,131 stores (including Slovakia), a net increase of 57 stores. Total sales
area increased by 0.9% to 4.7 million square meters. This includes franchise stores and excludes the stores
operated by our joint venture JMR.
December 30,
2012
Opened
acquired
Closed
sold
December 29,
2013
Ahold USA 772
9
(14)
767
The Netherlands1 1,996
73
(13)
2,056
Czech Republic 282
2
-
284
Continuing operations 3,050
84
(27)
3,107
Slovakia 24
-
-
24
Total number of stores 3,074
84
(27)
3,131
1 The number of stores as of December 29, 2013, includes 1,124 specialty stores (Etos and Gall
converted to the Albert Heijn banner during 2013.
Gall). In addition, 24 C1000 stores were
Franchisees operated 850 Albert Heijn, Etos and Gall Gall stores, 518 of which were
franchisees or leased independently from Ahold.
ither owned by the
Ahold
Franchisees
Total
Number of stores leased or owned
2,613
518
3,131
Number of stores subleased to franchisees
(332)
332
-
Number of stores operated
2,281
850
3,131
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).
At the end of 2013, Ahold operated 137 pick-up points, 126 more than in 2012. These were either stand
alone, in-store or office-based. In 2013, we opened 112 pick-up points in the U.S., bringing the total to 120,
and 14 in the Netherlands bringing the total to 17.
The total number of retail locations, including the 2,613 stores owned or leased by Ahold and 11 pick-up
points in stand-alone locations, amounted to 2,624 in 2013, higher by 35 compared to 2012.
1 Including restatements, see Note 3 to the consolidated financial
statements for an explanation of the restatements.
