Ahold acquires leading online retailer bol.com opening the door to new opportunities for both companies
February 27, 2012 bol.com is the leading online retailer in the Netherlands
bol.com is the #1 website by revenue and customers Best shopping brands (2011)4
Market share (2010)¹ Rank Brand
2 bol.com 3.4 mln active customers 3 IKEA
4 Wehkamp.nl
5HEMA
• In 2011 , almost half of all Dutch online customers who purchased products shopped at bol.com • Together, these customers bought more than 17 million products
• In 2010, bol.com successfully launched in Belgium
Source: Twinkle, GfK, Euromonitor, Thuiswinkelmonitor, bol.com, The Centre for Brand Analysis, Best brands in the Netherlands and company websites ¹ Market size of €3.2bn excl. VAT (2010) estimated by Thuiswinkelmonitor (excludes travel, financial services and other services); ² Based on 2010 consumer sales; ³ Wehkamp.nl sales calendarised to December year-end and excludes revenues from financing activities and acquisitions; 4 Best shopping brands ranking published by The Centre of Brand Analysis in 2011
2 This is an important next step in Ahold’s growth st rat egy
This acquisition...
Our strategy • Combines best-in-class food & non-food Strategic Pillars retail and online capabilities 1. Increasing customer loyalty
2. Broadening our offering • Offers significant growth potential in growth Creating 3. Expanding geographic reach Dutch and Belgian online retail markets
4. Simplicity • Combines very strong retail brands 5. Responsible retailing growth Enabling 6. People performance • Offers consumers more choice, greater convenience, and better value
3 bol.com expands Ahold’s product offering and online capabilities
bol.com main product category breakdown¹ Extending online non-food product offering n-food oo N Food
Net sales 2011: €355 mln Consumer sales 2011: €376 mln Offline Online
¹ Based on net sales
4 This is only the beginning
Online share of non-food retail1 Share of online vs. total retail sales - the Netherlands2
80%
70%
60%
50%
40%
30%
20%
10%
0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Media Consumer electronics Clothing Total
1 Euromonitor, RBS analysis 2 OC&C
5 ... creating a sizeable opportunity for online retailers in the coming years
The Netherlands, EUR millions Total retail spend 2015 Of which online Core Food & Non-Alcoholic Drinks 26,510 795 3% Food & 80 Drink Alcohol 4,330 2% Luxury Food 540 30 6% Pharmacy 6,980 350 5% Health & Health & Basic Beauty 3,150 160 5% Beauty Accessories & Jewellery 1,420 20 1% Luxury Beauty 1,400 70 5% Fashion Apparel 5,880 880 15% Softline, Basic Apparel 3,920 200 5% 70 Baby & Footwear 3,120 2% Pet Baby 300 50 17% Pet Accessories 230 20 9% DIY & Garden 8,190 410 5% Car Care & Parts 62006,200 360 6% Furniture 4,480 90 2% Home Accessories 3,070 150 5% Toys, Leisure & Sports 80 5% Hardline 1,690 Basic Household Tools & Cleaning 1,010 30 3% Kitchenware 880 130 15% CDs, DVDs & Videogames 750 190 25% Books & Magazines 690 170 25% Home Office 550 80 15% Consumer Electronics 3,850 2,580 67% Electronics White Goods 1,760 150 9% Small Domestic Appliances 770 70 9% Total 91.7bn 7.3bn 8%
Source: Forrester; Euromonitor, Nielsen, Verdict, Mintel 6 6 …allowing us to provide consumers with more chihoice, great er conveni ence, and dbtt better value
• Online platform with Bricks & clicks over 5 million products Store
• Match individual demand with virtually Pick-up point unlimited supply
Home delivery • Food & non-food Value
• Industry leading cost model
7 bol.com brings unique assets and capabilities…
Strong brand 9
New categories 9
Long-tail offering 9
Multiple fast-growing business models 9 Including Digital, 2nd Hand and 3rd party marketplace
Proven and continuously evolving platform 9
Talented management and employees 9
8 bol.com acquisition details
• Acquisition of 100% of bol.com from the current owners, Cyrte Investments and NPM Capital, for a transaction value of €350 mln
• Acquisition will be fully paid for in cash
• PtkProven track-recordfdliid of delivering dou ble-dig it sa les grow th an d a ttrac tive returns
• Transaction is expected to be accretive for earnings per share from day one
• Subject to customary conditions , including antitrust (EU)
• Acquisition is expected to close in Q2 2012
9 Cautionary notice
See press release: www.ahold.com/web/Ahold/Ahold-acquires-leading-online-retailer-bol.com.htm 11