Ahold Delhaize reports a solid quarter with growth in sales and net income
2019年5月8日 - 1:45PM
· Net sales of €15.9 billion, up 1.5% at constant exchange
rates, adversely impacted by Easter timing· Net consumer online
sales up 25.0% at constant exchange rates· Underlying operating
margin of 4.4%, stable compared to the same quarter last year· Net
income of €435 million, up 2.4% at constant exchange rates· Good
performance in the U.S., not yet impacted by Stop & Shop
strikes· Solid results in the Netherlands, with bol.com net
consumer sales up 35.2%
Zaandam, the Netherlands, May 8, 2019 - Ahold Delhaize, one of
the world's largest food retail groups and a leader in both
supermarkets and eCommerce, reports a solid first quarter with
growth in sales, underlying operating income and net income at
constant exchange rates. Frans Muller, President and CEO of Ahold
Delhaize, said: "The execution of our Leading Together strategy is
on track as our results are starting to illustrate. During the
quarter, we also launched our new purpose: eat well, save time,
live better. These are the guiding principles in everything we do
as we execute on our strategy. Throughout our businesses we help
our customers make healthier choices. Innovative solutions, both
in-store and online, make shopping more convenient and less
time-consuming. And to enable our customers to live better, we
continue to support the local communities they live in. "In the
U.S., we had a good quarter, as we continue to invest in our
customer experience and expand and improve our online offering.
This resulted in comparable sales growth of 1.2%, excluding
gasoline, or 2.2% adjusted for the timing of Easter. Our underlying
operating margin came in at 4.9%, benefiting from synergies and our
Save for Our Customers program with savings ahead of investments in
our customer proposition. "In the Netherlands, performance remained
solid with net sales up 3.5% compared to a year ago. Net consumer
sales at bol.com were up 35.2%. Our underlying operating margin
came in at 5.0%, with start up investments in logistics and
distribution this quarter. While sales in Belgium were adversely
impacted by fewer opening days compared to a year ago, underlying
trends show ongoing operational improvements. In Central and
Southeastern Europe, the business in the Czech Republic and Romania
reported a strong performance again this quarter. "Free cash flow
for the first quarter was negative by €136 million due to the
timing of Easter, greater capital expenditure and higher income
taxes paid. We remain committed to maintaining a balance between
investing in our stores and rapidly growing our online businesses
and an efficient, solid capital structure. "As announced on April
23, we have adjusted our full-year outlook to reflect the one-off
impact of the strikes at Stop & Shop. We now anticipate
underlying operating margin for the group for 2019 to be slightly
lower than 2018. Additionally, the percentage growth of underlying
earnings per share in 2019 is revised from high single digits to
low single digits. At the same time, we reiterate our expectation
for 2019 free cash flow of around €1.8 billion, with capital
expenditure of €2.0 billion. "The period of the strikes has been
challenging for everyone. However, we were able to reach fair and
responsible agreements for our Stop & Shop associates in New
England. We thank our customers for their patience and are
welcoming them back to our stores to continue to provide them with
great quality, service, selection and value."
- Ahold Delhaize_Q1 2019_InterimReport.pdf
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