Ahold Trading Statement Q3 2009
(Thomson Reuters ONE) - Amsterdam, the Netherlands - Ahold today announced consolidated netsales of ? 6.0 billion for the third quarterending October 4, 2009. Compared to the third quarter of 2008, netsales increased by 4.3% and increased by2.6% at constant exchange rates.In the third quarter, Ahold delivered volume growth in all markets.Sales were impacted by deflation and trading down by customers whileincreased promotional activity continued, especially in the UnitedStates.Sales performanceStop & Shop/Giant-Landover * Net sales increased 1.9% to $ 4.0 billion. * Identical sales increased 0.2% at Stop & Shop (0.7% excluding gasoline) and increased 2.3% at Giant-Landover (1.5% excluding gasoline). * Comparable sales increased 0.6% at Stop & Shop and increased 2.7% at Giant-Landover.Giant-Carlisle * Net sales increased 0.8% to $ 1.1 billion. * Identical sales decreased 1.5 % (increased 1.0% excluding gasoline). * Comparable sales decreased 0.1%.Albert Heijn * Net sales increased 5.4% to ? 2.1 billion. * Net sales at Albert Heijn supermarkets were ? 1.9 billion, up 4.9% compared to last year, primarily due to the conversion of former Schuitema stores into the Albert Heijn format in the second half of 2008. * Identical sales at Albert Heijn supermarkets decreased 0.4 %.Albert/Hypernova (Czech Republic and Slovakia) * Net sales decreased 8.0% to ? 378 million (3.5% at constant exchange rates), impacted by store closures as part of our restructuring program. * Identical sales decreased 3.4% (4.0% excluding gasoline).Unconsolidated joint venture - ICA * Net sales decreased 6.4% to ? 2.3 billion. At constant exchange rates, net sales increased 1.3%.Ahold Press Office: +31 (0)20 509 5291Net sales per segment Q3 Q3 % Q3 YTD Q3 YTD %(in millions) 2009 2008* Change 2009 2008* ChangeAll segments (ineuros)Stop &Shop/Giant-Landover 2,775 2,630 5.5% 9,829 8,599 14.3%Giant-Carlisle 767 736 4.2% 2,691 2,387 12.7%Ahold USA 3,542 3,366 5.2% 12,520 10,986 14.0%Albert Heijn 2,120 2,012 5.4% 7,352 6,753 8.9%Albert/Hypernova 378 411 (8.0)% 1,252 1,333 (6.1)%Ahold Europe 2,498 2,423 3.1% 8,604 8,086 6.4%Ahold Group 6,040 5,789 4.3% 21,124 19,072 10.8%Unconsolidatedjoint venture - ICA 2,252 2,405 (6.4)% 6,544 7,104 (7.9)%Average U.S. dollarexchange rate(euro per U.S.dollar) 0.6969 0.6736 3.5% 0.7323 0.6589 11.1%U.S. segments (inU.S. dollars)Stop &Shop/Giant-Landover 3,981 3,905 1.9% 13,424 13,052 2.9%Giant-Carlisle 1,101 1,092 0.8% 3,676 3,623 1.5%* Due to changes in accounting policies applied retrospectively,comparative information has been changed as explained further underNotes to this Trading Statement.NotesThe 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, resulted in a ? 3 million decrease in net sales at Albert Heijn for the third quarter of 2008 (Q3 YTD 2008: a decrease of ? 10 million). * 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 third quarter of 2008 decreased by ? 14 million (Q3 YTD 2008: ? 45 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, 2010http://hugin.info/130711/R/1348448/324527.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 20.10.2009 - 06:46 Uhr
Sprache: Deutsch
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