Ahold Delhaize 4Q Sales Rise Driven by US Growth
24 Janvier 2018 - 07:39AM
Dow Jones News
By Adria Calatayud
Koninklijke Ahold Delhaize NV's (AD.AE) sales grew in the fourth
quarter of 2017, helped by a strong performance in its U.S.
divisions, the Dutch company said Wednesday.
The international grocer, which was formed in 2016 through the
combination of Royal Ahold and Delhaize Group, said net sales stood
at 15.8 billion euros ($19.38 billion) for the last three months of
the year, up 1.6% on the year-earlier period at constant
foreign-exchange rates. This compares with a consensus estimate of
EUR15.72 billion, based on estimates by nine analysts polled by
FactSet.
On a pro-forma basis, fourth-quarter sales rose 2.5% at constant
currency rates, Ahold Delhaize said.
In the U.S., the main source of revenue for the company,
comparable sales increased by 0.6% at Ahold USA, while Delhaize
America recorded a 1.5% rise in sales, the retailer said. Ahold
Delhaize owns brands such as Giant, Food Lion, Hannaford and
Martin's in the country.
Comparable sales grew 6% in the Netherlands, the second-biggest
market for the company, Ahold said. The company added that this
strong performance benefited from a favorable calendar impact at
the end of the year.
Ahold Delhaize also said it anticipates its full-year free-cash
flow to be significantly ahead of expectations, due to improved
working-capital performance and lower-than-expected expenditures.
In November, the company guided for a free cash flow of EUR1.6
billion.
The grocer confirmed its guidance for a pro-forma underlying
operating margin of 3.9% in 2017.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
January 24, 2018 01:24 ET (06:24 GMT)
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