Last Refreshed: 5/13/2021 10:47:00 PM
Press release

Delhaize Group third quarter 2013 results

Financial Summary Third Quarter 2013

  • Revenue growth of 2.9% at identical exchange rates (3.1% organic growth)
  • Comparable store sales growth of 2.2% in the U.S. and 1.5% in Belgium
  • Group underlying operating margin of 3.3% (3.9% in the U.S., 2.6% in Belgium, 3.2% in Southeastern Europe)

Highlights

  • Appointment of Frans Muller as new CEO of Delhaize Group as of November 8, 2013
  • Year-to-date free cash flow generation of €463 million
  • €195 million impairment on Maxi goodwill and trade names

2013 Outlook

Confirmation of our 2013 guidance of underlying operating profit of at least €755 million at identical exchange rates compared to €785 million in 2012 and free cash flow of approximately €500 million

CEO Comments

Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: “We delivered solid results in the U.S. during the third quarter. Food Lion continued to show good momentum as reflected in the fourth consecutive quarter of positive volume and comparable store sales growth. At Hannaford, we experienced similar positive trends supported by further price investments since the second quarter."

“In Belgium, we have maintained market share, helped by network expansion and higher comparable store sales growth. As a result of our decision to increase price investments and promotions, profitability has declined. In Southeastern Europe, we continue to maintain or even improve our market share in the largest three markets. This has resulted in further improved profitability for the region as a whole.”

“For 2013, we reiterate our confidence that the Group will generate an underlying operating profit of at least €755 million at identical exchange rates and a free cash flow of approximately €500 million.”

“Tomorrow, I will hand over my position as CEO of Delhaize Group to Frans Muller. Since joining the company a few weeks ago, Frans has spent a lot of time at our various European and American operations and has already brought a lot of energy to the Group. His experience in food retail combined with continued positive momentum in the Group and our solid balance sheet strengthens my confidence in the future of Delhaize Group.”