Amsterdam, the Netherlands – Ahold today published its interim report for the third quarter of 2011. CEO Dick Boer said: “We delivered another quarter of robust performance and gained market share in all of our major markets. Customers remain cautious in their spending and focus on value in an inflationary environment. We continue to adapt to the challenging market conditions, balancing sales and margins.”
This interim report includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to Ahold adapting to challenging market conditions balancing sales and margins, completion of the accelerated €1 billion share buyback program and commitments and contingencies. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Ahold’s ability to control or estimate precisely, such as the effect of general economic or political conditions, fluctuations in exchange rates or interest rates, increases or changes in competition, Ahold’s ability to implement and complete successfully its plans and stratgies, the benefits from and resources generated by Ahold’s plans and strategies being less than or different from those anticipated, changes in Ahold’s liquidity needs, the actions of competitors and third parties and other factors discussed in Ahold’s public filings and other disclosures. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this interim report. Ahold does not assume any obligation to update any public information or forward-looking statements in this interim report to reflect subsequent events or circumstances, except as may be required by applicable laws. Outside the Netherlands, Koninklijke Ahold N.V., being its registered name, presents itself under the name of “Royal Ahold” or simply “Ahold”.
Financial Highlights Third Quarter 2011 (at identical exchange rates)
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: “The third quarter was a period of accelerated top line growth. We are particularly pleased with the performance of our operations in Southeastern Europe where Alfa Beta in Greece and Mega Image in Romania generated strong profitable revenue growth in a difficult environment.”
“That we are pulling the right levers is evidenced by the momentum in the rebranded Food Lion markets that continue to deliver excellent results and outperform the rest of the network. At the same time, the economic environment, especially in the Southeast of the U.S., continues to weigh on customer sentiment and their spending behavior.”
“It is strategically important for us to continue executing the long-term choices of the New Game Plan. However, looking ahead, we need to be mindful of the fact that business conditions across our markets became tougher towards the end of the quarter as it is increasingly difficult to pass on higher cost inflation to retail prices. We expect this environment will continue to have an impact on the remainder of the year.”