Zaandam, the Netherlands, March 25, 2019 – Ahold Delhaize today is hosting a briefing in London to update analysts on how our financial statements will be impacted by IFRS 16, the new financial reporting standard for lease obligations that came into effect on January 1, 2019.
IFRS 16, which requires lease obligations to be moved onto the balance sheet, will have no economic or cash impact on the group or on the way our business is managed. It will however have significant implications for our balance sheet, income statement and certain key performance indicators due to the size of our lease portfolio. Ahold Delhaize leases a significant number of its stores, distribution centers, offices and other assets, such as company cars and equipment.
The impact on the 2018 financial statements is as follows:
Outlook (pre-IFRS 16 outlook unchanged):
Cautionary notice
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Forward-looking statements are subject to risks, uncertainties and other factors that are difficult to predict and that may cause actual results of Koninklijke Ahold Delhaize N.V. (the “Company”) to differ materially from future results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the risk factors set forth in the Company’s public filings and other disclosures. Forward-looking statements reflect the current views of the Company’s management and assumptions based on information currently available to the Company’s management. Forward-looking statements speak only as of the date they are made and the Company does not assume any obligation to update such statements, except as required by law.