Delhaize Group Third Quarter 2013 Results
(Thomson Reuters ONE) -
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Financial Summary Third Quarter 2013
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» Revenue growth of 2.9% at identical exchange rates (3.1% organic growth)
» Comparable store sales growth of 2.2% in the U.S. and 1.5% in Belgium
» Group underlying operating margin of 3.3% (3.9% in the U.S., 2.6% in
Belgium, 3.2% in Southeastern Europe)
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Highlights
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» Appointment of Frans Muller as new CEO of Delhaize Group as of November
8, 2013
» Year-to-date free cash flow generation of ?463 million
» ?195 million impairment on Maxi goodwill and trade names
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2013 Outlook
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» Confirmation of our 2013 guidance of underlying operating profit of at least
?755 million at identical exchange rates compared to ?785 million in 2012 and
free cash flow of approximately ?500 million
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» CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group,
commented: "We delivered solid results in the U.S. during the third quarter.
Food Lion continued to show good momentum as reflected in the fourth consecutive
quarter of positive volume and comparable store sales growth. At Hannaford, we
experienced similar positive trends supported by further price investments since
the second quarter."
"In Belgium, we have maintained market share, helped by network expansion and
higher comparable store sales growth. As a result of our decision to increase
price investments and promotions, profitability has declined. In Southeastern
Europe, we continue to maintain or even improve our market share in the largest
three markets. This has resulted in further improved profitability for the
region as a whole."
"For 2013, we reiterate our confidence that the Group will generate an
underlying operating profit of at least ?755 million at identical exchange rates
and a free cash flow of approximately ?500 million."
"Tomorrow, I will hand over my position as CEO of Delhaize Group to Frans
Muller. Since joining the company a few weeks ago, Frans has spent a lot of time
at our various European and American operations and has already brought a lot of
energy to the Group. His experience in food retail combined with continued
positive momentum in the Group and our solid balance sheet strengthens my
confidence in the future of Delhaize Group."
Press release in pdf format:
http://hugin.info/133961/R/1741261/584986.pdf
Q3 2013 Presentation:
http://hugin.info/133961/R/1741261/584987.pdf
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Source: Delhaize Group via Thomson Reuters ONE
[HUG#1741261]
Unternehmensinformation / Kurzprofil:
Datum: 07.11.2013 - 07:02 Uhr
Sprache: Deutsch
News-ID 313700
Anzahl Zeichen: 3898
contact information:
Town:
Brussels
Kategorie:
Business News
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