Delhaize Group Second Quarter 2013 Results

Delhaize Group Second Quarter 2013 Results 
BRUSSELS, BELGIUM -- (Marketwired) -- 08/08/13 --  Delhaize Group
(EURONEXT BRUSSELS: DELB) (EURONEXT BRUSSELS: DELB.BR) (NYSE:
DEG) 


 
 
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 Financial Summary Second Quarter 2013
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 >> Revenue growth of 1.7% at identical exchange rates (1.9% organic
growth)
 
 >> Comparable store sales growth of 1.1% in the U.S. and 0.8% in
Belgium
 
 >> Group underlying operating margin of 3.6% (3.8% in the U.S., 4.1%
in Belgium)
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 Financial Summary First Half 2013
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 >> Revenue growth of 2.3% at identical exchange rates (3.0% organic
growth)
 
 >> Group EBITDA increased to EUR642 million, an increase of 31.9% at
identical exchange rates
 
 >> Group underlying operating profit growth of 9.8% at identical
exchange rates
 
 >> Group underlying operating margin of 3.8%
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 2013 Outlook
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 >> Original guidance of 2013 underlying operating profit raised to at
least EUR780 million including Sweetbay, Harveys and Reid's (approximately
EUR775 million previously), or at least EUR755 million reflecting the
previously announced divestitures (all at identical exchange rates)
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>>  CEO Comments 
Pierre-Olivier Beckers, President and Chief Executive Officer of
Delhaize Group, commented: "Our Group has delivered solid results for
the second quarter. In the U.S., we experienced our third consecutive
quarter of positive volume growth. At Food  Lion, 178 additional
stores were repositioned as part of Phase 4, bringing the  total of
repositioned stores to almost 80% of the network. At Hannaford, we
have  implemented our targeted  price investments during  the second
quarter. In Belgium,  we are pleased to report market share gains of
35 basis points, mainly resulting  from our remodeled stores  and
network expansion. Southeastern Europe showed  further resilience
with  market share growth  in what continues  to be a challenging
environment." 
"In  line with  our commitment  to focusing  on areas  where we  will
be able to generate  the highest growth  and returns, we  have reached
agreements in recent months  to divest  Sweetbay, Harveys  and
Reid's,  as well  as our activities in Montenegro." 
"Although  we remain prudent on the overall competitive landscape,
our operating performance  in the first half provides us  with
confidence that we will be able to generate an underlying operating
profit for 2013 of at least EUR755 million, an improvement compared
to our previous guidance." 
Presentation Q2 2013: http://hugin.info/133961/R/1721810/573525.pdf 
Press release in pdf format:
http://hugin.info/133961/R/1721810/573524.pdf 
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Source: Delhaize Group via Thomson Reuters ONE 
[HUG#1721810] 
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+ 32 2 412 8669
 
 
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