Ahold Delhaize Announces Consolidated Sales Results for the Fourth Quarter and Full Year of 2017; Provides Operating Margin and Free Cash Flow Guidance for the Year 2017
January 24, 2018 at 05:46 am
Ahold Delhaize announced consolidated sales results for the fourth quarter and full year of 2017. For the quarter, the company reported net sales of 15.8 billion for the fourth quarter of 2017, an increase of 1.6% at constant exchange rates compared to the fourth quarter of last year. Overall the business delivered a solid performance in the fourth quarter, resulting in a net sales growth of 2.5% on a pro forma basis, at constant exchange rates. Pro forma net sales of 15.8 billion, up 2.5% at constant exchange rates. Comparable sales up 0.6% at Ahold USA and 1.5% at Delhaize America. Strong sales performance in the Netherlands with comparable sales up 6.0%.
For the full year 2017, pro forma net sales reached 62.7 billion, up 1.7% at constant exchange rates.
For the full year 2017, the company expects pro forma underlying operating margin for the group to be 3.9%, in line with guidance. Free cash flow delivery is expected to be significantly ahead of expectations, due to improved working capital performance, capital expenditure slightly lower than forecast, and higher dividends from joint ventures.