Ahold Delhaize: to adopt new accounting standard
(CercleFinance.com) - Ahold Delhaize continues to expect high single-digit earnings growth in 2019, even after taking into account new financial reporting standards.
The Dutch-based retailer is hosting today a briefing in London to update analysts on how its financial statements will be impacted by IFRS 16, a new financial reporting standard coming into effect this year.
The standard - which requires lease obligations to be moved onto the balance sheet - will have no financial or cash impact on the group, but will have significant implications on income and certain key performance indicators, due to the size of its lease portfolio, it said.
For 2019, the company reiterates full-year margin guidance to be in line with restated 2018 margins (4.4%) and continues to expect underlying earnings per share to grow in 2019 by high single-digit percentage.
Free cash flow for 2019-2012 is expected around 1.8 billion euros per year, including repayment finance leases. It was 2 billion euros per year under a previous definition.
The shares were little changed (-0.1%) in Amsterdam on Monday after this statement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Dutch-based retailer is hosting today a briefing in London to update analysts on how its financial statements will be impacted by IFRS 16, a new financial reporting standard coming into effect this year.
The standard - which requires lease obligations to be moved onto the balance sheet - will have no financial or cash impact on the group, but will have significant implications on income and certain key performance indicators, due to the size of its lease portfolio, it said.
For 2019, the company reiterates full-year margin guidance to be in line with restated 2018 margins (4.4%) and continues to expect underlying earnings per share to grow in 2019 by high single-digit percentage.
Free cash flow for 2019-2012 is expected around 1.8 billion euros per year, including repayment finance leases. It was 2 billion euros per year under a previous definition.
The shares were little changed (-0.1%) in Amsterdam on Monday after this statement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.