Ahold publishes second quarter and half year 2013 results
(Thomson Reuters ONE) -
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Highlights second quarter
· Sales of ?7.8 billion (up 3.0% at constant exchange rates)
· Underlying operating income ?338 million (up 5.4% at constant exchange
rates)
· Underlying operating margin 4.4% (Q2 2012: 4.2%)
· Operating income ?325 million (up ?1 million)
· Net income ?206 million (down 17.3%, largely due to the sale of ICA)
· Free cash flow of ?254 million, including ?38 million payment related to
pension settlements
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Zaandam, the Netherlands - Ahold today published its interim report for the
second quarter and half year of 2013.
CEO Dick Boer said: "Our business continued to perform well, both in Europe and
the United States. We were able to grow sales by 3.0% at constant exchange rates
with ongoing high levels of promotional activity. Underlying operating income
increased by 5.4% at constant exchange rates, reflecting a strong underlying
operating margin of 4.4%. Net income was impacted by the sale of our stake in
ICA earlier this year. Our free cash flow continues to be strong at ?254 million
during the quarter.
"In the United States we saw modest sales growth of 2.0% with an ongoing low
level of inflation and volumes remaining under pressure in the food retail
sector. We are pleased that we continue to gain market share. Underlying
operating margin was 4.2%, supported by improved sourcing and operating
efficiencies.
"In the Netherlands sales grew by 5.6%, mainly driven by new stores and ongoing
strong sales growth in our online business. Albert Heijn successfully converted
another four former C1000/Jumbo stores, bringing the total to 22 and continued
to gain market share. Our growth initiatives remain on track with 16 well-
performing stores now open in Belgium and with the completion of the
nationwide rollout of bol.com pick-up points in our Albert Heijn stores.
Underlying operating margin improved to 5.5%, as Albert Heijn's strong
performance more than offset additional pension charges related to decreased
discount rates.
"In the current economic environment we remain cautious in our outlook for the
balance of the year, as we expect customers to be focused on value and volumes
to remain under pressure. We are well on track with our cost saving program and
are committed to our Reshaping Retail strategy.
"We remain committed to an efficient capital structure, having already increased
our share buyback program to two billion by the end of 2014. We expect to make
further announcements in this regard before the end of this year.
"The new leadership structure we announced this quarter, with an Executive
Committee that represents Ahold's business and functional leaders at the highest
level, will simplify the company's governance structure and decision-making
process and will enable us to accelerate our Reshaping Retail strategy."
Click here for more information, and to watch a video with CEO Dick Boer.
Ahold Press Office: +31 88 659 5343
Ahold Investor Relations: +31 88 659 5213
Follow us on Twitter: (at)AholdNews
Ahold Q2 interim report :
http://hugin.info/130711/R/1724311/574750.pdf
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originality of the information contained therein.
Source: Ahold via Thomson Reuters ONE
[HUG#1724311]
Unternehmensinformation / Kurzprofil:
Datum: 22.08.2013 - 06:46 Uhr
Sprache: Deutsch
News-ID 289943
Anzahl Zeichen: 4209
contact information:
Town:
Amsterdam
Kategorie:
Business News
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