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Delhaize Group : Delhaize Group Second Quarter 2013 Results



         Delhaize Group : Delhaize Group Second Quarter 2013 Results

Financial Summary Second Quarter 2013
» 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)
Financial Summary First Half 2013
» Revenue growth of 2.3% at identical exchange rates (3.0% organic growth)
» Group EBITDA increased to €642 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%
2013 Outlook
» Original guidance of 2013 underlying operating profit raised to at least
€780 million including Sweetbay, Harveys and Reid's (approximately €775
million previously), or at least €755 million reflecting the previously
announced divestitures (all at identical exchange rates)

»  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 
€755 million, an improvement compared to our previous guidance."

Press release in pdf format
Presentation Q2 2013

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information contained therein.

Source: Delhaize Group via Thomson Reuters ONE
HUG#1721810
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