Delhaize Group preliminary unaudited second quarter 2016 results
21 Juillet 2016 - 8:19AM
BRUSSELS, Belgium, July 21, 2016 (GLOBE NEWSWIRE)
-- Financial Summary Second Quarter 2016 |
» Revenue growth of 4.3% at identical exchange
rates |
» Comparable store sales growth of 2.9% in the U.S.
(3.9% real growth), 2.1% in Belgium and 8.7% in Southeastern
Europe |
» Group underlying operating profit of €247 million
(+12.1% at identical exchange rates compared to the second quarter
of last year) » Group underlying operating margin of 3.9% (4.1% in
the U.S., 3.3% in Belgium and 5.0% in Southeastern Europe)
|
Financial Summary First Half 2016 |
» Revenue growth of 4.3% at identical exchange
rates |
» Group underlying operating profit growth of 18.2% at
identical exchange rates compared to the same period of last
year |
|
Other highlights |
|
» Closing of the merger between Delhaize Group and Royal Ahold
expected on July 23, 2016, subject to clearance from the U.S.
Federal Trade Commission |
|
» CEO Comments
Frans Muller, President and Chief Executive Officer of Delhaize
Group, commented: "We are pleased with the results we have
published today. We grew revenues and underlying operating profit
in each of our three operating segments while we also generated
€258 million of operating free cash flow (excluding Transformation
Plan and merger related costs) in this second quarter."
"With 3.9% real growth during this quarter, Delhaize America
continued to experience good sales momentum both at Food Lion and
at Hannaford, while inflation remained negative. At Delhaize
Belgium, our market share continued to recover following the
disruptions related to the Transformation Plan. Nonetheless, our
performance remains largely driven by our affiliated network as our
integrated stores' sales growth lags expectations, in a competitive
and price-driven market. Southeastern Europe's growth was again
robust, driven by Romania and Greece."
"For the full year and excluding the impact of the merger with
Ahold, we are confident to deliver approximately €400 million of
free cash flow excluding cash outs related to the Transformation
Plan and related to the merger. In addition, we expect underlying
operating profit to be in line with current market expectations.
Building on these second quarter results, we look forward to
completing the merger with Ahold on July 23, subject to clearance
from the FTC, and to work together with our future colleagues at
Ahold Delhaize to build an even stronger company."
Full press release in pdf format
http://hugin.info/133961/R/2029774/754850.pdf
HUG#2029774
CONTACT: Questions can be sent to investor@delhaizegroup.com.
Investor Relations: + 32 2 412 2151
Media Relations: + 32 2 412 8669