Food Lion 2008 Annual Report Download - page 85
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Please find page 85 of the 2008 Food Lion annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.6. Segment Information
As explained in Note 2, Delhaize Group’s operation of retail food supermarkets represents approximately 90% of the Group’s consolidated revenues and is
therefore the only reportable business segment. Consequently, the Group’s only format for reporting segment information is geographical segments, based on
the location of customers and assets.
In 2008, certain costs previously included in the “Corporate and Unallocated” segment were allocated to the segment “Belgium.” Prior to 2008, certain
“Corporate” costs were allocated only to segments operating in separate legal entities. Delhaize Group and its Belgium business unit operate within the same
legal entity. Segment information for prior periods has been revised for comparative purposes. This change has no effect on Delhaize Group’s consolidated
financial results.
The geographical segment information for 2008, 2007 and 2006 is as follows:
Year ended December 31, 2008 (in millions of EUR) United Rest of the Corporate and
States Belgium
(2)
Greece World
(3)
Unallocated Total
Revenues(1) 13 081 4 407 1 335 201 - 19 024
Cost of sales (9 453) (3 558) (1 032) (161) - (14 204)
Gross profit 3 628 849 303 40 - 4 820
Gross margin 27.7% 19.3% 22.7% 20.0% - 25.3%
Other operating income 42 40 13 1 - 96
Selling, general and administrative expenses (2 904) (722) (267) (38) (31) (3 962)
Other operating expenses (46) (1) (3) - - (50)
Operating profit 720 166 46 3 (31) 904
Operating margin 5.5% 3.8% 3.4% 1.5% - 4.8%
Operating profit from discontinued operations - (8) - - - (8)
Other information
Assets(4) 6 745 1 640 612 84 619 9 700
Liabilities(5) 1 095 783 294 34 3 299 5 505
Capital expenditures 481 117 88 20 8 714
Business acquisitions - - 88 12 - 100
Non-cash operating activities:
Depreciation and amortization 356 82 25 4 9 476
Impairment loss(6) 20 8 - - - 28
Share-based compensation 18 2 - - 1 21
(1) All revenues are from external parties.
(2) Belgium includes Delhaize Group’s operations in Belgium, the Grand-Duchy of Luxembourg and Germany (the latter reported in discontinued operations (see Note 5).
(3) Rest of the World include the Group’s operations in Romania and Indonesia. Operations in Slovakia (liquidated in 2008) are presented in discontinued operations (see Note 5).
(4) Segment assets exclude cash and cash equivalents, financial assets, derivatives and income tax related assets, which are included in “Corporate and Unallocated.”
(5) Segment liabilities exclude financial liabilities including debt, finance leases, derivatives and income tax related liabilities, which are included in “Corporate and Unallocated.”
(6) No impairment loss was recorded in equity.
Year ended December 31, 2007 (in millions of EUR) United Rest of the Corporate and
States Belgium
(2)
Greece World
(3)
Unallocated Total
Revenues(1) 13 259 4 346 1 173 165 - 18 943
Cost of sales (9 623) (3 493) (904) (135) - (14 155)
Gross profit 3 636 853 269 30 - 4 788
Gross margin 27.4% 19.6% 22.9% 18.3% - 25.3%
Other operating income 52 50 5 1 - 108
Selling, general and administrative expenses (2 919) (725) (221) (27) (31) (3 923)
Other operating expenses (23) (10) (2) - (1) (36)
Operating profit 746 168 51 4 (32) 937
Operating margin 5.6% 3.8% 4.4% 2.3% - 4.9%
Operating profit from discontinued operations (1) - - 4 - 3
Other information
Assets(4) 6 215 1 595 413 43 556 8 822
Liabilities(5) 1 046 837 263 23 2 977 5 146
Capital expenditures 547 114 37 12 19 729
Business acquisitions - - - - - -
Non-cash operating activities:
Depreciation and amortization 368 78 20 3 7 476
Impairment loss(6) 13 2 - (1) - 14
Share-based compensation 19 2 - - 1 22
(1) All revenues are from external parties.
(2) Belgium includes Delhaize Group’s operations in Belgium, the Grand-Duchy of Luxembourg and Germany (the latter reported in discontinued operations (see Note 5).
(3) Rest of the World include the Group’s operations in Romania and Indonesia. Operations in the Czech Republic and Slovakia are presented in discontinued operations (see Note 5).
(4) Segment assets exclude cash and cash equivalents, financial assets, derivatives and income tax related assets, which are included in “Corporate and Unallocated.”
(5) Segment liabilities exclude financial liabilities including debt, finance leases, derivatives and income tax related liabilities, which are included in “Corporate and Unallocated.”
(6) No impairment loss was recorded in equity.
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Certification of Responsible
Persons
Historical
Financial Overview
Report of the
Statutory Auditor
Summary Statutory Accounts of
Delhaize Group SA
Supplementary
Information