Delhaize Group Issues Preliminary First Quarter 2013 Results and Postpones
Capital Markets Day
BRUSSELS, BELGIUM -- (Marketwired) -- 04/22/13 -- Delhaize Group
(Euronext Brussels: DELB, NYSE: DEG), the Belgian international food
retailer, announces preliminary unaudited figures for the first
quarter of 2013 and its decision to postpone its Capital Markets Day.
>> First Quarter 2013 Results (based on preliminary unaudited
In the first quarter of 2013, Delhaize Group's revenues were EUR5.5
billion, an increase of 2.1% and 1.5% at identical and actual
exchange rates, respectively.
Organic revenue growth (excluding
revenues from the 126 stores and 45 stores
closed in the U.S. in Q1
2012 and Q1 2013 respectively) was 3.8%. In the U.S.,
store sales growth was 1.9% (3.0% including a +1.1% calendar
fueled by favorable weather conditions and continued good
volume trends in the
Food Lion repositioned stores and at Hannaford.
This was partly offset by deflation which was however at a lower
level than the previous quarter. In Belgium, comparable store sales
growth was 2.4% (0.6% including a -1.8% calendar
impact) as a result
of inflation and improved volume trends. In Southeastern
revenues grew by 6.8% at identical exchange rates due to store
while consumer spending is under pressure in the region.
Underlying operating profit was EUR214 million, a 13.7% increase
compared to the first quarter of 2012 at identical exchange rates
(+13.0% at actual exchange
rates) resulting in an underlying
operating margin of 3.9% (3.5% in Q1 last year). In the U.S.,
underlying operating margin was 4.2% (3.7% in Q1 last year)
result of positive sales leverage supported by the favorable calendar
impact, non-performing store closures, cost reductions and Bottom
significantly improved results. This was partly offset
by continued price investments. In Belgium, underlying operating
margin was 5.1% (4.6% in Q1 last
year), mostly driven by cost control
and positive sales leverage. In Southeastern Europe, underlying
operating margin decreased to 1.4% (2.0% last
year), mostly driven by
Underlying EBITDA of EUR369 million represented a 7.1% increase
compared to the
first quarter of 2012 at identical exchange rates
(+6.4% at actual exchange rates).
Free cash flow reached EUR255 million (EUR87 million in Q1 2012) due
EBITDA, working capital improvements and continued capital
Full first quarter results will be disclosed on May 8, 2013 as
initially scheduled, including a normally scheduled conference call
>> 2013 Outlook
As a consequence of our continued focus on our strategic priorities,
Group expects underlying operating profit of approximately
EUR775 million for the full year 2013 at identical exchange rates.
>> Postponement of Capital Markets Day
Delhaize Group announces the decision to postpone its Capital Markets
Day, previously scheduled for May 8, 2013, until later in the year.
This will allow
the Company to provide a more comprehensive update on
its business and long-term
>> Delhaize Group
Delhaize Group is a Belgian international food retailer present in
on three continents. At the end of 2012, Delhaize
Group's sales network
consisted of 3 451 stores. In 2012, Delhaize
Group posted EUR22.6 billion ($29.0
billion) in revenues and
EUR104 million ($134 million) in net profit (Group
the end of 2012, Delhaize Group employed approximately 158
people. Delhaize Group's stock is listed on NYSE Euronext
Brussels (DELB) and the New York Stock Exchange (DEG).
This press release is available in English, French and Dutch. You
can also find
it on the website http://www.delhaizegroup.com.
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Source: Delhaize Group via Thomson Reuters ONE
+32 2 412 21 51
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