• Throughout Q1 2024, our brands delivered value for customers despite continued economic headwinds. Teams in all our brands are working hard to offset inflation and ensure healthy food remains affordable for customers. We are starting to see the benefits from structural changes in our business related to the Belgium Future Plan and cost savings initiatives in the prior year.
  • Q1 Group net sales were €21.7 billion, up 1.3% at constant exchange rates and up 0.4% at actual exchange rates. Q1 comparable sales excluding gas increased by 1.6% for the Group, with an increase of 0.8% in the U.S. and an increase of 2.8% in Europe.
  • Net consumer online sales decreased by 1.0% in Q1 at constant exchange rates, negatively impacted by 5.7 percentage points due to the divestment of FreshDirect. This was partially offset by double-digit growth at Food Lion and Hannaford and accelerating growth at Albert Heijn.
  • Q1 underlying operating margin was 4.0%, in line with the prior year. Improvements in European performance were offset by modest declines in the U.S.
  • Q1 IFRS operating income was €803 million and IFRS diluted EPS was €0.54. IFRS results were €58 million lower than underlying results primarily due to costs related to the Belgium Future Plan.
  • Q1 diluted underlying EPS was €0.59, a decrease of 2.9% compared to the prior year at actual rates.
  • The Company reiterates its 2024 full-year outlook, including underlying operating margin of ≥4.0%; underlying EPS at around 2023 levels; free cash flow of around €2.3 billion; and net capital expenditures of around €2.2 billion.

Zaandam, the Netherlands, May 8, 2024 - Ahold Delhaize, one of the world's largest food retail groups and a leader in both supermarkets and e-commerce, reports first quarter results today.

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Koninklijke Ahold Delhaize NV published this content on 08 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 05:48:03 UTC.