Ahold Delhaize reports solid sales growth in the fourth quarter
24 Janvier 2018 - 6:46AM
- Net sales of €15.8 billion, up 1.6% at constant exchange
rates
- Pro forma net sales of €15.8 billion, up 2.5% at constant
exchange rates
- Comparable sales up 0.6% at Ahold USA and 1.5% at Delhaize
America
- Strong sales performance in the Netherlands with comparable
sales up 6.0%
- Online net consumer sales up 23.2% at constant exchange rates
in the fourth quarter and reached €2.8 billion for the full
year 2017
- Expected full year 2017 pro forma underlying operating margin
of 3.9%, in line with guidance
- Expected full year 2017 free cash flow to be significantly
ahead of expectations
Zaandam, the Netherlands - January 24, 2018 - Ahold
Delhaize today announced consolidated net sales of €15.8 billion
for the fourth quarter of 2017, an increase of 1.6% at constant
exchange rates compared to the fourth quarter of last year. Overall
the business delivered a solid performance in the fourth quarter,
resulting in a net sales growth of 2.5% on a pro forma basis, at
constant exchange rates. For the full year 2017, pro forma net
sales reached €62.7 billion, up 1.7% at constant exchange rates.
Sales performance at Ahold USA was in line with the previous
quarter, with comparable sales growth of 0.6% (excluding gasoline),
and slightly improved after adjusting for weather and holiday
shifts compared to the previous quarter. Market share is expected
to be stable compared to last year. Price inflation at 1.1% was
broadly in line with the previous quarter. Giant Carlisle reported
a strong quarter, with new Beer & Wine locations driving
increased transactions. At Delhaize America, comparable sales grew
by 1.5%, with both Food Lion and Hannaford reporting positive
comparable sales growth, and market share is expected to increase
compared to last year. Food Lion continued to benefit from the
roll-out of the "Easy, Fresh and Affordable" program in the
Charlotte market last year and the Richmond and Greensboro markets
this year. Price inflation was at 0.7%, broadly similar to the
previous quarter. The Netherlands had a strong performance with
6.0% comparable sales growth, compared to an outstanding quarter
last year, with a positive calendar impact at year end 2017. Albert
Heijn ran successful commercial campaigns and had a very strong
holiday season, both in the supermarkets and online, increasing its
full year market share compared to last year. Price inflation was
2.8%, slightly higher than the previous quarter. Bol.com reported
29.8% growth in net consumer sales this quarter, resulting in €1.6
billion net consumer sales for 2017. In Belgium, comparable sales
for the quarter were flat versus last year yet improved adjusted
for the calendar impact. Affiliates and Luxembourg continued
their solid performance and full year market share is expected to
be broadly in line with last year. Price inflation in Belgium was
0.9%, broadly in line with the previous quarter. In Central and
Southeastern Europe, comparable sales growth was 0.3% (excluding
gasoline). Strong sales performance in the region was offset by
negative sales growth in Greece where the sales performance
reflected a normalization of market circumstances since the second
quarter this year. Outlook For the full year 2017,
we expect pro forma underlying operating margin for the group to be
3.9%, in line with guidance. Free cash flow delivery is expected to
be significantly ahead of expectations, due to improved working
capital performance, capital expenditure slightly lower than
forecast, and higher dividends from joint ventures.
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