Ahold : Ahold publishes second quarter and half year 2013 results Highlightssecond quarter · Sales of €7.8 billion (up 3.0% at constant exchange rates) · Underlying operating income €338 million (up 5.4% at constant exchange rates) · Underlying operating margin 4.4% (Q2 2012: 4.2%) · Operating income €325 million (up €1 million) · Net income €206 million (down 17.3%, largely due to the sale of ICA) · Free cash flow of €254 million, including €38 million payment related to pension settlements Zaandam, the Netherlands - Ahold today published its interim report for the second quarter and halfyear of 2013. CEO Dick Boer said: "Our business continued to perform well, both in Europe and the United States.We were able to grow sales by 3.0% at constant exchange rates with ongoing high levels ofpromotional activity. Underlying operating income increased by 5.4% at constant exchange rates,reflecting a strong underlying operating margin of 4.4%. Net income was impacted by the sale of ourstake in ICA earlier this year. Our free cash flow continues to be strong at €254 million during thequarter. "In the United States we saw modest sales growth of 2.0% with an ongoing low level of inflation andvolumes remaining under pressure in the food retail sector. We are pleased that we continue to gainmarket share. Underlying operating margin was 4.2%, supported by improved sourcing andoperating efficiencies. "In the Netherlands sales grew by 5.6%, mainly driven by new stores and ongoing strong salesgrowth in our online business. Albert Heijn successfully converted another four former C1000/Jumbostores, bringing the total to 22 and continued to gain market share. Our growth initiatives remain ontrack with 16 well-performing stores now open in Belgium and with the completion of the nationwiderollout of bol.com pick-up points in our Albert Heijn stores. Underlying operating margin improved to5.5%, as Albert Heijn's strong performance more than offset additional pension charges related todecreased discount rates. "In the current economic environment we remain cautious in our outlook for the balance of the year,as we expect customers to be focused on value and volumes to remain under pressure. We are wellon track with our cost saving program and are committed to our Reshaping Retail strategy. "We remain committed to an efficient capital structure, having already increased our share buybackprogram to two billion by the end of 2014. We expect to make further announcements in this regardbefore the end of this year. "The new leadership structure we announced this quarter, with an Executive Committee thatrepresents Ahold's business and functional leaders at the highest level, will simplify the company'sgovernance structure and decision-making process and will enable us to accelerate our ReshapingRetail strategy." Click here for more information, and to watch a video with CEO Dick Boer. Ahold Press Office: +31 88 659 5343 Ahold Investor Relations: +31 88 659 5213 Follow us on Twitter: @AholdNews Ahold Q2 interim report ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Ahold via Thomson Reuters ONE HUG#1724311
Ahold : Ahold publishes second quarter and half year 2013 results
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