Q1 2011 Results

Highlights

• Sales up 5.9 percent to €9.3 billion (6.0 percent at constant exchange rates)
• Operating income up 8.6 percent to €444 million
• Net income up 6.2 percent to €291 million
• Underlying retail operating margin 4.9 percent

Amsterdam, the Netherlands – Ahold today published its interim report for the first quarter 2011. CEO Dick Boer said: “We delivered solid results and increased volumes in all our markets despite challenging market conditions with customers continuing to focus on value. In the United States we had particularly strong sales and margins, partially due to the timing of Easter. In the Netherlands margins were impacted by increasing inflation which was not fully passed on to customers. We will continue to manage the balance between sales and margins in a challenging environment of inflation and intense promotional activity, especially in the United States.”

Cautionary notice

This interim report includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to Ahold managing the balance between sales and margins in an environment of inflation and intense promotional activity. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forwardlooking statements. Many of these risks and uncertainties relate to factors that are beyond Ahold’s ability to control or estimate precisely, such as the effect of general economic or political conditions, fluctuations in exchange rates or interest rates, increases or changes in competition, Ahold’s ability to implement and complete successfully its plans and strategies, the benefits from and resources generated by Ahold’s plans and strategies being less than or different from those anticipated, changes in Ahold’s liquidity needs, the actions of competitors and third parties and other factors discussed in Ahold’s public filings and other disclosures. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this interim report. Ahold does not assume any obligation to update any public information or forward-looking statements in this interim report to reflect subsequent events or circumstances, except as may be required by applicable laws. Outside the Netherlands, Koninklijke Ahold N.V., being its registered name, presents itself under the name of “Royal Ahold” or simply “Ahold”.