Q4 / 2010 results
(Thomson Reuters ONE) -
Highlights
* Fourth quarter operating income ?295 million
* Fourth quarter net income ?154 million
* Full year underlying retail operating margin 4.9 percent
* Dividend increased by 26 percent to ?0.29 per share
* New share buyback program of ?1 billion
Amsterdam, the Netherlands, March 3, 2011 - Ahold today published its summary
report for the fourth quarter and full year 2010. CEO Dick Boer said: "In 2010,
Ahold delivered another solid performance in both the United States and Europe.
Despite another challenging year for the food retail industry, we managed to
successfully increase volumes and grow market share in each of our major
markets.
"For the full year, sales grew by 4.4 percent at constant exchange rates and
after adjusting for the impact of an additional week in 2009. We reported an
underlying retail operating margin of 4.9 percent; excluding the Ukrop's stores
we acquired in 2010, the underlying retail margin was 5.1 percent, the same as
in 2009.
"In the fourth quarter, customers continued to focus on value, driving intense
promotional activity, particularly in the United States. Operating margins were
negatively impacted by cost inflation that was not fully passed on to customers.
We increased volumes and improved market share in the Netherlands, the Czech
Republic and in the United States.
"We expect 2011 to remain challenging for the food retail industry. Although
there are signs of a gradual economic recovery, we expect consumers to remain
focused on value and cautious in their spending in an inflationary environment.
We will continue to reduce costs so that we can invest in our offering to
improve the value we provide, while managing the balance between sales and
margin.
"Reflecting the confidence we have in our strategy and our ability to generate
cash, we propose a 26 percent increase in our dividend to ?0.29 per common
share. Our strong balance sheet enables us to launch a new ?1 billion share
buyback program for the next 18 months while continuing to actively pursue our
growth strategy and taking advantage of opportunities as they arise.
"We reiterate our mid-term targets to achieve a net sales growth of 5 percent
(mainly from identical sales growth) and an underlying retail operating margin
of 5 percent, while maintaining an investment grade credit rating."
At current exchange rates, Ahold expects its net interest expense for 2011 to be
in the range of ?230 million to ?250 million and its capital expenditure to be
around ?0.9 billion.
Ahold Press Office: +31 20 509 5343
Ahold Investor Relations: +31 20 509 5213
Cautionary notice
This summary report includes forward-looking statements, which do not refer to
historical facts but refer to expectations based on management's current views
and assumptions and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
included in such statements. These forward-looking statements include, but are
not limited to, statements as to Ahold's market share and volumes, dividend
increase, share buyback, net sales growth, retail underlying margin, investment
grade rating, net interest expense, capital expenditure, vesting of Global
Reward Opportunity shares, the use of treasury shares, and Ahold's contingent
liability related to ICA tax claims, BI-LO and Bruno's leases, Ahold's possible
obligations to indemnify U.S. Foodservice and a potential liability for Tops.
These forward-looking statements are subject to risks, uncertainties and other
factors that could cause actual results to differ materially from future results
expressed or implied by the forward-looking statements. Many of these risks and
uncertainties relate to factors that are beyond Ahold's ability to control or
estimate precisely, such as the effect of general economic or political
conditions, fluctuations in exchange rates or interest rates, increases or
changes in competition, Ahold's ability to implement and complete successfully
its plans and strategies, the benefits from and resources generated by Ahold's
plans and strategies being less than or different from those anticipated,
changes in Ahold's liquidity needs, the actions of competitors and third parties
and other factors discussed in Ahold's other public filings and disclosures.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this summary report. Ahold does
not assume any obligation to update any public information or forward-looking
statements in this summary report to reflect subsequent events or circumstances,
except as may be required by applicable laws. Outside the Netherlands,
Koninklijke Ahold N.V., being its registered name, presents itself under the
name of "Royal Ahold" or simply "Ahold".
Q4 / 2010 results:
http://hugin.info/130711/R/1494029/429778.pdf
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(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: Ahold via Thomson Reuters ONE
[HUG#1494029]
Unternehmensinformation / Kurzprofil:
Datum: 03.03.2011 - 06:46 Uhr
Sprache: Deutsch
News-ID 52087
Anzahl Zeichen: 6060
contact information:
Town:
Amsterdam
Kategorie:
Business News
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