Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on DELHAIZE GROUP. We currently have 2 research reports from 1 professional analysts.
|23Jul16 15:00||GNW||Delhaize Group and Ahold complete merger after receiving clearance from the U.S. Federal Trade Commission|
|21Jul16 07:15||GNW||Delhaize Group preliminary unaudited second quarter 2016 results|
|21Jul16 07:02||GNW||Delhaize and Ahold expect to complete merger on July 23, 2016, subject to U.S. Federal Trade Commission clearance|
|14Jul16 02:00||GNW||Delhaize Group press release - Delhaize Group and Ahold reach agreements with buyers to divest 86 U.S. stores, subject to FTC merger clearance|
|12Jul16 07:00||GNW||Delhaize Group press release - Delhaize Group and Ahold expect merger to complete before the end of July, subject to FTC merger clearance|
|28Jun16 07:00||GNW||Delhaize Group press release - Capital structure disclosure|
|27Jun16 07:46||GNW||Delhaize Group press release - Delhaize Group's operations in Belgium announce sale of pet food chain Tom&Co|
Frequency of research reports
Research reports on
2016 augurs well
27 Apr 16
Delhaize released a strong set of Q1 16 figures exceeding our expectations. Q1 revenues progressed by 5.7% and 4.3% at actual and identical rates, respectively. The gross margin improved by 60bp to 3.6%. Group share in net profit reached €109m, benefiting from lower financial costs. As part of its capital discipline (spending €825m in 2016), the FCF decreased in Q1 2016.
Positive and roughly expected
04 Mar 16
In 2015, Delhaize Group announced revenues of €24.4bn, i.e. +14.2% and +1.9% respectively at actual and identical exchange rates, including the 53rd week in the US in 2014. In comparable store sales, US sales (in local currency) increased by 2.2%, +0.9% for Belgium and +3.5% in South-Eastern Europe. Despite the investment in price, mainly in Belgium, the group’s profitability improved, leading to net income of €366m (vs. €89m including loss from discontinued operations of €99m in 2014). Delhaize proposes a 2015 dividend of €1.80 per share, an increase of 12.5% (€1.65 expected by our model).
17 Jan 17
Greggs' trading update confirmed that it delivered a stronger than expected finish to FY16, leaving it well placed to face the margin pressures that will affect the entire industry in FY17. We expect only modest changes to FY17 estimates when FY16 results are released and therefore continue to value the shares at 1,189p.
In line with expectations
12 Oct 16
Greggs enjoys a differentiated position in the growing food-to-go market. Its strategy to enhance its offer and improve the efficiency with which it delivers that offer has yielded good results so far and remains on track. Although the industry faces input cost headwinds in FY17, Greggs has the financial strength to withstand them and the benefit of the continuing strategic initiatives to offset them.
More in the oven
26 Feb 16
The investment case remains quite compelling given further internally driven top-line and margin enhancement potential. Greggs is now entering year 3 of a 5 year ransformation programme, so there is still a lot more to do. Whilst an FY16 P/E of 18x looks up with events, we feel there is good momentum for upgrades to flow through as 2016 progresses and for the shares to outperform.
N+1 Singer - Northern lights - Shining prospects for 2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.