Delhaize Group preliminary unaudited second quarter 2016 results
(Thomson Reuters ONE) -
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Financial Summary Second Quarter 2016
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» Revenue growth of 4.3% at identical exchange rates
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» Comparable store sales growth of 2.9% in the U.S. (3.9% real growth), 2.1%
in Belgium and 8.7% in Southeastern Europe
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» Group underlying operating profit of ?247 million (+12.1% at identical
exchange rates compared to the second quarter of last year)
» Group underlying operating margin of 3.9% (4.1% in the U.S., 3.3% in Belgium
and 5.0% in Southeastern Europe)
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Financial Summary First Half 2016
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» Revenue growth of 4.3% at identical exchange rates
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» Group underlying operating profit growth of 18.2% at identical exchange
rates compared to the same period of last year
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Other highlights |
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» Closing of the merger between Delhaize Group and Royal Ahold expected on |
July 23, 2016, subject to clearance from the U.S. Federal Trade Commission |
» CEO Comments
Frans Muller, President and Chief Executive Officer of Delhaize Group,
commented: "We are pleased with the results we have published today. We grew
revenues and underlying operating profit in each of our three operating segments
while we also generated ?258 million of operating free cash flow (excluding
Transformation Plan and merger related costs) in this second quarter."
"With 3.9% real growth during this quarter, Delhaize America continued to
experience good sales momentum both at Food Lion and at Hannaford, while
inflation remained negative. At Delhaize Belgium, our market share continued to
recover following the disruptions related to the Transformation Plan.
Nonetheless, our performance remains largely driven by our affiliated network as
our integrated stores' sales growth lags expectations, in a competitive and
price-driven market. Southeastern Europe's growth was again robust, driven by
Romania and Greece."
"For the full year and excluding the impact of the merger with Ahold, we are
confident to deliver approximately ?400 million of free cash flow excluding cash
outs related to the Transformation Plan and related to the merger. In addition,
we expect underlying operating profit to be in line with current market
expectations. Building on these second quarter results, we look forward to
completing the merger with Ahold on July 23, subject to clearance from the FTC,
and to work together with our future colleagues at Ahold Delhaize to build an
even stronger company."
Full press release in pdf format:
http://hugin.info/133961/R/2029774/754850.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delhaize Group via GlobeNewswire
[HUG#2029774]
Unternehmensinformation / Kurzprofil:
Datum: 21.07.2016 - 08:15 Uhr
Sprache: Deutsch
News-ID 484547
Anzahl Zeichen: 4315
contact information:
Town:
Brussels
Kategorie:
Business News
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