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| Full Year preliminary and unaudited 2015 Results at actual exchange rates |
| » Revenue growth of 15.6% excluding the 53rd week in the U.S. in 2014 (3.2% at identical exchange rates) |
| » Underlying operating profit of approximately €870 million |
| » Underlying operating margin of 4.0% in the U.S., 2.1% in Belgium and 4.7% in Southeastern Europe |
| » Free cash flow of approximately €645 million excluding one-time elements (€516 million including one-time elements) |
| Fourth Quarter 2015 Revenues |
| » Revenue growth of 14.2% at actual exchange rates excluding the 53rd week in the U.S. in 2014 (4.9% at identical exchange rates) |
| » 2.3% comparable store sales growth in the U.S., 5.1% in Belgium and 7.8% in Southeastern Europe |
BRUSSELS, Belgium, Jan. 22, 2016 --
- CEO Comments
Frans Muller, President and Chief Executive Officer of Delhaize Group said: "In 2015, in line with our strategy outlined two years ago, we kept our focus on our customers and made good progress on our strategic initiatives. Specifically at Food Lion, the revenue uplift from Easy, Fresh & Affordable is delivering according to plan and costs are under control, and in Belgium, the implementation of the Transformation Plan is well advanced. We recorded revenue increase at all our banners. Our underlying operating profit was approximately €870 million. In addition, we generated another solid level of free cash flow this year at approximately €645 million, excluding one-time elements."
"In the fourth quarter, our real growth, corrected for inflation, at Delhaize America was strong at 3.3%. In Belgium our market share has shown a healthy progression and revenues continued to recover with 5.1% comparable store sales growth. In Southeastern Europe, we maintained the excellent sales momentum driven by 7.8% comparable sales growth and expansion."
"For 2016, our objective is to fine-tune the Easy, Fresh and Affordable initiative at Food Lion and to roll it out to an additional market and to improve operating standards in Belgium as we continue implementing the Transformation Plan. We are also confident to maintain our sales trends in all our markets in 2016, driven by comparable store sales growth and expansion mainly in Southeastern Europe. Subject to final approvals, we are looking forward to bringing our operations with good operating momentum and a solid financial structure into a stronger and larger group as we complete the merger with Ahold on schedule by mid-2016."
Press release Q4 and FY 2015 http://hugin.info/133961/R/1980554/725547.pdf
Presentation Q4 and FY 2015 http://hugin.info/133961/R/1980554/725548.pdf
HUG#1980554
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