• U.S. Foodservice, Tops and operations in Poland divested, total proceeds €5.4 billion
  • €4 billion returned to shareholders
  • Retail operating margin guidance exceeded
  • Roll-out of Stop & Shop/Giant-Landover Value Improvement Program on track
  • Plans to upgrade 100 Giant-Landover stores announced
  • Investment grade rating restored
  • Annual dividend reinstated

Financial highlights

Results and cash flow information
Euros in millions, except per share data 2007 20061 20051 20041
Net sales 28,152 27,826 26,894 26,298
Net sales growth at constant exchange rates 6.1% 3.9% 1.8% 4.2%
Operating income 1,134 1,063 1722 884
Income (loss) from continuing operations 797 697 (88) 668
Income from discontinued operations 2,148 218 234 215
Net income 2,945 915 146 883
Income per common share from continuing operations (basic) 0.54 0.44 (0.07) 0.42
Net income per common share (basic) 2.03 0.58 0.08 0.56
Cash flow before financing activities 6,627 1,028 2,057 2,033
Net cash from operating, investing and financing activities 1,487 (249) (1,137) 25
Average exchange rate (euro per U.S. dollar) 0.7307 0.7964 0.8051 0.8050
 
  1. Comparative figures have been adjusted from amounts previously reported to reflect the effect of discontinued operations.
  2. Includes the settlement of the securities class action (EUR 803).
Balance sheet and other information
Euros in millions December 30,
2007		 December 31,
2006		 January 1,
2006		 January 2,
2005
Group equity 3,887 5,270 4,661 3,917
Net debt 2,116 4,636 5,520 6,815
Total assets 13,944 18,442 19,958 21,344
Number of stores 3,225 3,480 3,455 4,072
Number of employees (in FTEs) 118,715 164,078 167,801 206,441
Common shares outstanding (x 1,000) 1,171,922 1,555,678 1,555,313 1,554,263
Share price at Euronext 9.47 8.06 6.33 5.70
Exchange rate (euro per U.S. dollar) 0.6795 0.7576 0.8444 0.7375
 
 
Net sales (Euros in millions)
Operating income (Euros in millions)
 
Income from continuing operations (Euros in millions)
Earnings per share (Euros in millions)
 
Net debt and group equity (Euros in millions)
Cash flow before financing activities (Euros in millions)