Ahold Delhaize has posted a net sales increase of 64.2% in its third quarter, to €13.9 billion, in its first combined earnings report.
Pro forma sales were up 2.6% to €14.5 billion, or up 2.9% at constant exchange rates. Pro forma underlying EBITDA margin was 6.4%.
"Despite challenging conditions in certain markets, Ahold Delhaize has delivered growth in sales and in underlying operating income on a pro forma basis which reflects the strength and resilience of our great local brands, as well as our continued focus on delivering cost efficiencies across our businesses while driving top-line growth,” said Ahold Delhaize chief executive Dick Boer.
Boer noted that in the Netherlands, the group “achieved a seventh consecutive quarter of volume growth driven by the continued strong momentum at Albert Heijn.” In Belgium, it “generated savings from the Transformation Plan, with an almost doubling of our pro forma underlying operating income.”
Pro forma online net consumer sales were up 25.1% at constant exchange rates. “Our online businesses bol.com and ah.nl also delivered another quarter of very strong sales growth,” said Boer.
Ahold Delhaize will host a Capital Markets Day on 7 December in London.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
