Ahold Delhaize reports strong Q3 results; announces initiatives to solidify position as industry- leading local omnichannel retailer in 2021 and beyond
Net sales were €17.8 billion, up 6.8%, or 10.1% at constant exchange rates
In the U.S. and Europe, comp sales growth excluding gas was up 12.4% and 7.5%, respectively
Net consumer online sales grew 62.6% at constant exchange rates; including 114.7% growth in the U.S.
COVID-19-related costs were approximately €470 million year to date, and approximately €140 million in Q3, including safety measures and enhanced associate pay
Underlying operating margin was 4.6%, up 0.2% points from the prior year at constant exchange rates
IFRS reported operating income was €207 million, impacted by the previously announced €577 million provision for a U.S. pension plan withdrawal
Diluted underlying EPS was €0.50, increasing 12.3%; diluted EPS was €0.06, unfavorably impacted by the provision for a U.S. pension plan withdrawal
2020 underlying EPS outlook raised to growth in the high-20% range; continue to expect free cash flow to be at least €1.7 billion, net of Q4 payment for a U.S. pension plan withdrawal, and capital expenditures of around €2.5 billion
Announcing a new €1 billion share buyback program to start at the beginning of 2021
Zaandam, the Netherlands, November 4, 2020 – Ahold Delhaize, one of the world’s largest food retail groups and a leader in both supermarkets and e-commerce, reports third quarter results today.