Ahold Trading Statement Q2 2009
(Thomson Reuters ONE) - Amsterdam, the Netherlands - Ahold today announced consolidated netsales of ? 6.4 billion for the second quarter ending July 12, 2009.Compared to the second quarter of 2008, net sales increased by 11.5%or 3.9% at constant exchange rates.In the second quarter, inflation slowed considerably and we continuedto see changing customer and competitor behavior, with an increasedfocus on price and promotions.In the United States, Stop & Shop and Giant-Landover continued todrive improved performance andGiant-Carlisle invested aggressively in price and promotions.In Europe, Albert Heijn grew market share by providing great customervalue, while managing margins.In a changing environment, we continue to manage the balance ofsales, market share and margin in each of our markets and remainwell-positioned to meet our customers' needs.Sales performanceStop & Shop/Giant-Landover * Net sales increased 2.8% to $ 4.1 billion. * Identical sales increased 1.7% at Stop & Shop (3.4% excluding gasoline net sales) and increased 3.7% at Giant-Landover (3.5% excluding gasoline net sales). * Comparable sales increased 2.3% at Stop & Shop and increased 4.2% at Giant-Landover.Giant-Carlisle * Net sales decreased 0.4% to $ 1.1 billion, impacted significantly by lower gasoline prices. * Identical sales decreased 1.8% (increased 2.0% excluding gasoline net sales). * Comparable sales decreased 0.9%.Albert Heijn * Net sales increased 7.8% to ? 2.2 billion. * Net sales at Albert Heijn supermarkets were ? 2.1 billion, up 7.9% compared to last year, primarily due to the conversion of former Schuitema stores into the Albert Heijn format in the second half of 2008 and early 2009. * Identical sales at Albert Heijn supermarkets increased 0.4% compared to a very strong quarter last year partly due to the Euro 2008 Football Championship.Albert/Hypernova (Czech Republic and Slovakia) * Net sales decreased 6.8% to ? 383 million (0.7% at constant exchange rates), impacted by store closures as part of our restructuring program. * Identical sales decreased 1.6% (1.5% excluding gasoline net sales).Unconsolidated joint venture - ICA * Net sales decreased 8.3% to ? 2.2 billion. At constant exchange rates, net sales increased 2.6%.Net sales per segment Q2 Q2 % HY HY %(in millions) 2009 2008* Change 2009 2008* ChangeAll segments (ineuros)Stop &Shop/Giant-Landover 2,998 2,566 16.8% 7,054 5,969 18.2%Giant-Carlisle 810 715 13.3% 1,924 1,651 16.5%Ahold USA 3,808 3,281 16.1% 8,978 7,620 17.8%Albert Heijn 2,239 2,077 7.8% 5,232 4,741 10.4%Albert/Hypernova 383 411 (6.8%) 874 922 (5.2%)Ahold Europe 2,622 2,488 5.4% 6,106 5,663 7.8%Ahold Group 6,430 5,769 11.5% 15,084 13,283 13.6%Unconsolidatedjoint venture - ICA 2,230 2,433 (8.3%) 4,292 4,699 (8.7%)Average U.S. dollarexchange rate(EUR per USD) 0.7277 0.6403 13.6% 0.7474 0.6526 14.5%U.S. segments (in U.S.dollars)Stop &Shop/Giant-Landover 4,120 4,008 2.8% 9,443 9,147 3.2%Giant-Carlisle 1,113 1,117 (0.4%) 2,575 2,531 1.7%* Due to changes in accounting policies applied retrospectively,comparative information has been changed as explained further underNotes to this Trading Statement.Ahold Press Office: +31 (0)20 509 5291NotesThe net sales figures presented in this trading statement arepreliminary and unaudited.Changes in accounting policies * As of 2009, Ahold has applied IFRIC 13 "Customer Loyalty Programs", which addresses accounting by entities that grant customer loyalty award credits to their customers. The adoption of IFRIC 13, which Ahold has applied retrospectively, did not impact net sales for the second quarter of 2008 (HY 2008: ? 7 million decrease at Albert Heijn). * As of 2009, rent income earned by certain real estate subsidiaries is netted against the related expense, whereas previously it was included in net sales. Comparative information has been changed accordingly, with the effect that net sales for the second quarter of 2008 decreased by ? 14 million (HY 2008: ? 31 million), predominantly at Albert Heijn.Definitions * Identical sales: net sales from exactly the same stores in local currency for the comparable period. * Comparable sales: identical sales plus net sales from replacement stores in local currency. * Constant exchange rates: excludes the impact of using different currency exchange rates to translate the financial information of Ahold subsidiaries or joint ventures to euros. For comparison purposes, the financial information of the previous year or quarter is adjusted using the average currency exchange rates for the current year or quarter in order to understand this currency impact.Non-GAAP financial measuresThis trading statement includes the following non-GAAP financialmeasures: * Net sales at constant exchange rates. Net sales at constant exchange rates exclude the impact of using different currency exchange rates to translate the financial information of Ahold subsidiaries or joint ventures to euros. Ahold's management believes this measure provides a better insight into the operating performance of Ahold's foreign subsidiaries or joint ventures. * Net sales in local currency. In certain instances, net sales are presented in local currency. Ahold's management believes this measure provides a better insight into the operating performance of Ahold's foreign subsidiaries. * Identical sales, excluding gasoline net sales. Because gasoline prices have experienced greater volatility than food prices, Ahold's management believes that by excluding gasoline net sales, this measure provides a better insight into the growth of its identical store sales.Ahold's financial yearAhold's financial year consists of 52 or 53 weeks and ends on theSunday nearest to December 31. Ahold's 2009 financial year consistsof 53 weeks and ends on January 3, 2010. The quarters in 2009 are:First Quarter (16 weeks) December 29, 2008 through April 19, 2009Second Quarter (12 weeks) April 20 through July 12, 2009Third Quarter (12 weeks) July 13 through October 4, 2009Fourth Quarter (13 weeks) October 5, 2009 through January 3, 2010Cautionary noticeThis press release includes forward-looking statements, which do notrefer to historical facts but refer to expectations based onmanagement's current views and assumptions and involve known andunknown risks and uncertainties that could cause actual results,performance or events to differ materially from those included insuch statements. These forward-looking statements include, but arenot limited to, statements as to Ahold's sales, market share andmargin and Ahold's response to consumer needs and competitor behaviorin the current economic environment. These forward-looking statementsare subject to risks, uncertainties and other factors that couldcause actual results to differ materially from future resultsexpressed or implied by the forward-looking statements. Many of theserisks and uncertainties relate to factors that are beyond Ahold'sability to control or estimate precisely, such as the effect ofgeneral economic or political conditions, inflation or deflation, fluctuations in exchange rates or interest rates, increases orchanges in competition, the behavior of consumers and third parties,Ahold's ability to implement and complete successfully its plans andstrategies, the benefits from and resources generated by Ahold'splans and strategies being less than or different from thoseanticipated, changes in Ahold's liquidity needs, and other factorsdiscussed in Ahold's public filings. Readers are cautioned not toplace undue reliance on these forward-looking statements, which speakonly as of the date of this press release. Koninklijke Ahold N.V.,which is Ahold's statutory name, does not assume any obligation toupdate any public information or forward-looking statements in thisrelease to reflect subsequent events or circumstances, except as maybe required by securities law.In the event of any discrepancy between the Dutch translation of thispress release and the English version thereof, the latter prevails.http://hugin.info/130711/R/1331114/314836.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.07.2009 - 06:45 Uhr
Sprache: Deutsch
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