Food Lion 2010 Annual Report Download - page 41

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Delhaize Group - Annual Report 2010 37
At the end of 2010, total equity had
increased by 15.0% to EUR 5.1 billion
as a result of the net profit and other
comprehensive income of the year and
favorable impact of stock option activity
offset partly by the payment of dividends
of EUR 162 million and the purchase of
non controlling interests (EUR 47 million).
The number of Delhaize Group shares,
including treasury shares, increased in 2010
by 684 655 newly issued shares to 102
million. Delhaize Group owned 988 860
treasury shares at the end of 2010.
At the end of 2010, Delhaize Group’s
net debt amounted to EUR 1.8 billion, a
decrease of EUR 276 million compared
to EUR 2.1 billion at the end of December
2009, mainly as a result of strong free cash
flow generation.
At the end of 2010, Delhaize Group had
total annual minimum operating lease
commitments for 2011 of EUR 269 million,
including EUR 13 million related to closed
stores. These leases generally have terms
that range between 1 and 40 years with
renewal options ranging from 3 to 36 years.
Events after Balance Sheet Date
In February 2011, Delhaize Group has
been notified that some Greek former
shareholders of Alfa Beta Vassilopoulos
S.A. have filed a claim in front of the Court
of First Instance of Athens challenging the
price paid by Delhaize Group during the
squeeze-out process that was approved by
the Hellenic Capital Markets Commission.
Please refer to Note 35 for more information
related to this matter.
(1) Excluding finance leases; principal payments (related premiums and discounts not taken into account) after effect of cross-currency interest rate swaps.
Debt Maturity Profile Delhaize Group(1) as of December 31, 2010 (in millions of EUR)
2013
2011
2014
2012
2016
2017
2027
2031
2040
619
203
53
337
7
502
80
85
39
229
USD Denominated Long Term Debt
EUR Denominated Long Term Debt
On March 3, 2011, Delhaize Group
announced to have reached an agreement
to acquire 100% of the Serbian retailer
Delta Maxi Group, an acquisition that will
make Delhaize Group a leading retailer in
Southeastern Europe. Through combining
Delta Maxi Group with its existing network
in Greece and Romania, Delhaize Group
expects to generate approximately
EUR 3.4 billion in annual sales through 800
stores at the end of 2011. The transaction is
expected to be closed in the third quarter
of 2011.
DELHAIZE GROUP
AT A GLANCE OUR
STRATEGY OUR ACTIVITIES
IN 2010 CORPORATE
GOVERNANCE STATEMENT RISK
FACTORS FINANCIAL
STATEMENTS SHAREHOLDER
INFORMATION
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