Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on KONINKLIJKE AHOLD NV. We currently have 2 research reports from 1 professional analysts.
|28Mar17 06:59||GNW||Ahold Delhaize share buyback update|
|23Mar17 16:45||GNW||Ahold Delhaize reports progress on store divestments, gives update on Belgium strategy|
|21Mar17 07:01||GNW||Ahold Delhaize share buyback update|
|13Mar17 16:59||GNW||Ahold Delhaize gives update on progress store divestments Belgium|
|06Mar17 06:59||GNW||Ahold Delhaize continues its €1 billion share buyback program announced on December 7, 2016|
|28Feb17 06:59||GNW||Ahold Delhaize share buyback update|
|14Feb17 07:45||GNW||Ahold Delhaize share buyback update|
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KONINKLIJKE AHOLD NV
KONINKLIJKE AHOLD NV
Strong US$ pushes up Ahold's figures
04 Mar 16
Ahold’s full-year sales progressed by 16.6% compared to 2014, amounting to €38.203m. This increase was primarily driven by US operations that witnessed a huge jump of 18.9% on actual change. The strong US$ (+20% on average rate) is behind this jump since the change at constant exchange rate is instead, negative (-0.5%). For the European operations, the well-known brands continued to pull up the group’s sales (+6.3% lfl for the Netherlands and 13.3% lfl for Czech Republic). Albert Heijn’s lfl sales growth was driven by attractive commercial programmes and diversified offers. For the full year, its market share increased to 35.0%, positively impacted by the conversion of 17 more former C1000 supermarkets. The Czech market continued to be promotion-driven and was significantly impacted by competitive pressure. During the year, all the supermarkets were converted to the Favorite store concept. The decrease in gasoline price (30%) and volume (4.1%) offset the fast-growing 2015 online consumer sales (up to €1,646m, i.e. 4.3% of total sales vs. 3.9% in 2014). FY 2015 net income came to €851m, i.e. adjusted diluted EPS of €1.02, of which €0.52 would be paid for the dividend, an increase of 8.3% yoy (vs. €0.50 expected by our model).
Resuming talks with Delhaize
16 Jun 15
Q1 revenues were impacted by many distortions. The group's sales were up 15%, driven by a stronger dollar and 1.4% at constant exchange rates. Excluding the negative impact of petrol prices (which were down 35% in the US), sales growth reached 3%. However, part of the momemtum was financed by large promotions and restructuring costs which hurt earnings (down 20%).
Argos and broader non-food offer to defend market share
28 Sep 16
Q2 total sales fell by 0.4% and by 1.1% on a lfl basis. The retail business (excluding Argos) generated almost flat sales compared to Q2 15 but was still experiencing a negative trend on a lfl basis. The good news came from Argos’s recovering business, where revenues impressed with 2.8% growth in H1 following a promising Q2. Sainsbury strengthened its network by opening nine new convenience stores and one supermarket. Sales of groceries online showed an 8% increase (in line with last quarter’s) despite the decrease in both customer orders and basket size. The stock lost 3.27% this morning.
Reassuring H1 figures
15 Sep 16
H1 sales came in at £8,032m, a slight decrease compared to 2015/16. The operating profit improved by 30.2% yoy, following a more rigorous cost savings plan (administrative expenses were halved). Net profit stood at £110m, i.e. a net margin of 1.37%, almost stable compared to H1 15/16. Morrisons succeeded in improving its FCF (£556m vs. £468m in H1 15) and reduced its net debt (by £477m) following the enhancement in margin, an improvement in working capital control and opting for a light-capital strategy.
Worries about new tax dampened
21 Sep 16
Yesterday, the European Commission announced through a press release that it has opened an in-depth investigation into Poland’s tax on the retail sector. The European Commission has also issued an injunction, requiring Poland to suspend the application of the tax until the Commission has concluded its assessment. It is worth noting that Poland adopted, in July 2016, a new tax to be applied to retail companies operating in Poland. The tax entered into force on 1 September 2016, and no payments are due yet.
On the right track
05 Oct 16
THe Q2 figures witnessed a third consecutive lfl positive growth leading to a H1 16 sales improvement of 1.0% on a lfl basis. H1 sales stood at £24.4bn (£27,338m including fuel) following a promising Q2 (0.9% in the UK and 2.1% for international markets). Tesco’s sales have benefited from the increase in both volume and transactions in all markets. All formats – including the largest and the Extra formats – saw an improving trend in lfl sales performance throughout the half. H1 operating profit came in at £596m, i.e. a 2.2% operating margin and management expects £1.2bn for the whole year. This positive trend in the margin will continue according to management and reach 3.5-4.0% by 2019/20. Net debt decreased to £4,352m but total indebtedness surged by £3,400m with a ballooning pension deficit due to low UK bond yields, in the aftermath of Brexit.