Last Refreshed: 7/26/2021 5:14:10 AM
Press release

Delhaize Group second quarter 2013 results

Financial Summary Second Quarter 2013

  • Revenue growth of 1.7% at identical exchange rates (1.9% organic growth)
  • Comparable store sales growth of 1.1% in the U.S. and 0.8% in Belgium
  • Group underlying operating margin of 3.6% (3.8% in the U.S., 4.1% in Belgium)

Financial Summary First Half 2013

  • Revenue growth of 2.3% at identical exchange rates (3.0% organic growth)
  • Group EBITDA increased to €642 million, an increase of 31.9% at identical exchange rates
  • Group underlying operating profit growth of 9.8% at identical exchange rates
  • Group underlying operating margin of 3.8%

2013 Outlook

  • Original guidance of 2013 underlying operating profit raised to at least €780 million including Sweetbay, Harveys and Reid’s (approximately €775 million previously), or at least €755 million reflecting the previously announced divestitures (all at identical exchange rates)

CEO Comments

Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: “Our Group has delivered solid results for the second quarter. In the U.S., we experienced our third consecutive quarter of positive volume growth. At Food Lion, 178 additional stores were repositioned as part of Phase 4, bringing the total of repositioned stores to almost 80% of the network. At Hannaford, we have implemented our targeted price investments during the second quarter. In Belgium, we are pleased to report market share gains of 35 basis points, mainly resulting from our remodeled stores and network expansion. Southeastern Europe showed further resilience with market share growth in what continues to be a challenging environment.”

“In line with our commitment to focusing on areas where we will be able to generate the highest growth and returns, we have reached agreements in recent months to divest Sweetbay, Harveys and Reid’s, as well as our activities in Montenegro.”

“Although we remain prudent on the overall competitive landscape, our operating performance in the first half provides us with confidence that we will be able to generate an underlying operating profit for 2013 of at least €755 million, an improvement compared to our previous guidance.”