Net sales climb through the first quarter of the year while operating income drops off slightly

Leading European retailer Ahold Delhaize has report on a stable set of results for the opening quarter of 2024.

Albert Heijn Netherlands Ahold Delhaize Adobe Stock

Net sales climbed 1.3 per cent at constant rates on the same period of 2023 and 0.4 per cent at actual rates, up to €21.7bn.

Operating income dropped 2.3 per cent at actual exchange rates and 1.2 per cent at constant rates to €803m, with underlying operating income standing at €861m, down 0.4 per cent at actual rates.

“I am pleased to report a stable first quarter, placing us well on track to reach our goals and aspirations for the year,” said president and CEO Frans Muller. ”The external environment remained challenging, similar to the second half of 2023.

“As we tee up to our new strategic plan, we are working hard to ensure we are fit and ready to transition to a more robust growth profile,” he continued. ”Further simplifying our organisation and maintaining a strong cadence in our Save for Our Customers programme to sustain growth investments and drive innovation are key focus areas for both our regions.

“Given the solid start to the year, we reconfirm our guidance for 2024. It is an important year for our company, as we pivot to our refreshed strategy, which we are very much looking forward to unveiling on May 23.

”With our strong market positions, our financial strength and the great foundational work we have carried out over the last few years, I am confident we have a great starting point and strong plans for our next phase of growth,” Muller added.