Ahold Delhaize 2Q Net Profit, Revenue Fell But Beat Forecasts

By Ian Walker

Koninklijke Ahold Delhaize NV on Wednesday reported falls in both second-quarter net profit and revenue, although both metrics still beat analysts' forecasts, and raised its full-year guidance.

The Dutch grocer made a net profit for the second quarter of 540 million euros ($633 million) compared with EUR693 million for the year-earlier period and a consensus of EUR483 million taken from the company's website and based on 16 analysts' forecasts.

Net sales fell to EUR18.6 billion from EUR19.1 billion the prior year but rose 3% on a constant-exchange basis. This compares with a consensus of EUR17.86 billion taken from the company's website and based on 21 analysts' estimates.

Like-for-like U.S. net sales excluding gas fell 1.5% and European sales rose 2.4%.

Quarterly underlying earnings per share--which strips out exceptional and other one-off items--fell to 53 European cents from 65 cents, down 12% on a constant-exchange basis.

The company expects to report high-teen full-year underlying earnings-per-share growth compared with 2019, and previous guidance of low-to-mid teens range.

The board declared an interim dividend of 43 European cents compared with 50 cents for the first half of 2020. The lower dividend is in line with the board's policy of paying 40% of underlying EPS.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

August 11, 2021 02:18 ET (06:18 GMT)

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