Strong start for Ahold Delhaize

The international marketing magazine for fresh produce buyers in Europe
Carl Collen

BY CARL COLLEN

Strong start for Ahold Delhaize

Recently merged retail giant kicks off with good momentum as both Ahold and Delhaize Group report strong second-quarter results

Strong start for Ahold Delhaize

The New Ahold Delhaize logo

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The recently formed retailer Ahold Delhaize has today published Ahold's second-quarter and half-year report for the period ended 17 July 17, 2016, and, as an appendix, Delhaize Group's summarised second-quarter and half-year report for the period ended 30 June 2016.

Dutch group Ahold's underlying operating income stood at €355m, up 8.0 per cent at constant exchange rates, while Belgian retailer Delhaize Group's underlying operating profit was €247m, up 12.1 per cent.

Dick Boer, CEO of Ahold Delhaize, said: "We have started our new chapter as Ahold Delhaize with good momentum, with these two strong sets of pre-merger results. Building on our solid financial foundation, common values and great local brands, we are driving ahead with full energy to deliver even more for customers and communities, associates and shareholders.

"We look forward to continuing to shape Ahold Delhaize, with a strong commitment to delivering great food, value and innovations for customers across our 11 markets, both in stores and online," he added.

The Ahold Delhaize merger came into effect on 24 July this year, and the group will publish combined third quarter results on 17 November.

Starting from the third quarter of 2016, Ahold Delhaize will report its quarterly financial performance for five business segments: The Netherlands, Belgium, Central and Southeastern Europe and two reporting segments in the US.

In it's outlook report, the group said that it was confident of meeting its synergy target of €500m on an annual run-rate basis by mid-2019. In 2016, synergies are expected to positively impact operating income by €30m in the second half of 2016.

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