Retailer enjoys growth in sales and operating income despite what CEO Frans Muller calls a “rapidly shifting environment”
Ahold-Delhaize has revealed its results for 2025, with the retailer reporting year-on-year growth in net sales and operating income.
Full-year net sales came in at €92.35bn, up 3.4 per cent on 2024 and 5.9 per cent at constant rates.
Sales jumped 11.7 per cent in Europe and 2 per cent in the US at constant rates, the retailer posted.
Online sales rose 11.2 per cent to €10.27bn, an increase of 13.3 per cent at constant rates.
“In 2025, we operated in a rapidly shifting environment,” noted Frans Muller, the retailer’s president and CEO.
”Government policy changes were frequent and unpredictable, supply chain disruptions drove inflation volatility in some product categories, and rapid advances in AI and other technologies continued to reshape how we work and live.
”At the same time, households faced sustained pressure from higher living expenses and economic uncertainty. In this context, being a consistent and trusted partner for customers and stakeholders is essential,” he outlined.
”I am proud of how associates across our brands remained focused on serving customers, improving affordability and supporting healthier communities.”
Underlying operating income for the period climbed by 3.5 per cent year-on-year to €3.73bn, with underlying operating margin 4 per cent and diluted underlying EPS €2.67 – in line with Ahold-Delhaize’s guidance for the year.
“While our strategy and investment cadence were thoroughly pressure-tested over the past year, our execution proved consistent and disciplined and the results are starting to compound,” Muller continued.
”As we enter 2026, we are confident in our ability to navigate change and seize opportunities.
”We plan to maintain momentum through continued price investments, further growth in own brands and accelerating store openings and remodels, supporting industry-leading underlying operating margins of around 4 per cent,” he said.
”We anticipate mid- to high-single-digit growth in diluted underlying earnings per share at constant exchange rates and at least €2.3bn in free cash flow.
”Our confidence is reflected in a proposed 6 per cent dividend increase for 2025 and a €1bn annual share buyback programme,” Muller added.
