Ahold Delhaize: underlying EPS virtually stable in 2023

(CercleFinance.com) - Ahold Delhaize reports virtually stable underlying EPS (-0.
4%) at E2.54 for 2023, in line with its expectations, with an underlying operating margin down 0.2 point to 4.1% on revenues that rose 1.9% to over E88.6bn.

On a like-for-like basis and excluding petrol, sales of the Belgian-Dutch food retailer rose by 3.9%, including increases of 2.3% in the US and 6.5% in Europe. At constant exchange rates, online sales rose 6.1%.

With annual free cash flow at the top end of its target range at E2.4bn, management has proposed a cash dividend of E1.10 per share for 2023, up 4.8% and in line with its dividend policy.

For FY 2024, Ahold Delhaize expects underlying EPS at around its level in 2023, an underlying operating margin of at least 4%, and free cash flow of around E2.3bn.


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