ZAANDAM (dpa-AFX) – Dutch supermarket operator Ahold Delhaize (Ahold Delhaize (Ahold)) earned more in the third quarter thanks to good business in Europe. In the United States, the group’s largest market, business continued to be subdued, but better than expected on the financial market. Management confirmed its annual forecast. In addition, a share buyback program worth one billion euros was announced, which is scheduled to start in 2026. The news was well received on the stock market.
The share was at the top of the EuroStoxx 50 on Wednesday with an increase of around 1.8 percent. In the meantime it had risen to its highest level since the end of May, but was unable to maintain this level. In the current year, the paper has gained around 15 percent in value.
For analyst Borja Olcese from JPMorgan, Ahold Delhaize presented solid figures, with operating profit exceeding market expectations. Frederick Wild from Jefferies also pointed to a surprisingly high operating result in the third quarter. This is thanks to the extraordinarily strong US sales and margin development. The confirmed annual forecast refutes an argument from the pessimists in the debate about the company.
In the third quarter, group sales rose by 2.2 percent to almost 22.5 billion euros compared to the same period last year, as the company in Zaandam announced. The strong euro ate up some of the growth: at constant exchange rates, revenue would have increased by 6.1 percent. Sales were in line with analysts’ expectations.
In the USA, sales increased by 1.9 percent on a constant currency basis, while in Europe they increased by 12.4 percent.
Operating profit adjusted for special effects rose by around nine percent to 933 million euros. The corresponding margin was 4.1 percent, higher than experts expected. The bottom line is that profit increased to 584 million euros from 372 million in the same period last year. At that time, value adjustments and restructuring expenses had a negative impact./err/men/mis
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