Czech
Republic
€1,521 million
(1.2)%
1.2%
albert
333
49%
€3,565 million
Our brands and how we operate (continued)
09
333 15,000
Acquisition of SPAR stores in
the Czech Republic completed
albert
Joint venture:
JMR
JMR
EH V
Ahold at a glance
Business review
I Governance
Financials
Investors
Ahold
Annual Report 2014
Net sales
Identical sales growth
(excluding gasoline)
Underlying operating margin
Stores Associates
Stores
Ahold holds 49% of the shares in the joint
venture JMR, and shares equal voting power on
JMR's board of directors with Jerónimo Martins,
SGPS, S.A.
Stake
Net sales
.óri/vS11P'y Pingo Doce is the largest
supermarketchain in Portugal,
and is managed by JMR.
Stores
supermarkets.
Albert is among the best-known food
retail brands in the Czech Republic.
Store formats
Compact hypers and