Ahold Delhaize Reports Q4 2022 Financial Results and 2023 Outlook; Frans Muller Details
ZAANDAM, NETHERLANDS - Our eyes are on the growth of the retail sector as Ahold Delhaize pulls back the curtain on its fourth quarter performance, revealing several areas of impressive success.
“I am pleased to report a solid end to the year for Ahold Delhaize. Our strong international portfolio of local brands has continued to provide distinct competitive and societal advantages, particularly from our scale and solid financial position,” commented Frans Muller, President and Chief Executive Officer.
Ahold Delhaize spotlighted several key growth metrics in its report, including:
- Save for Our Customers cost savings program, which yielded 15 percent more savings than originally expected in 2022
- Group net sales were €23.4 billion (approximately $25 billion USD), up 8.1 percent in Q4 and 6.9 percent in 2022 at constant exchange rates
- Q4 comparable sales excluding gas increased by 9.3 percent in the U.S. and 5.7 percent in Europe
- Net consumer online sales increased by 5 percent in Q4 and 4.9 percent in 2022 at constant exchange rates. Excluding bol.com, grocery online sales increased 14.4 percent in Q4 and 11.8 percent in 2022 at constant rates
- Introduced the “Accelerate” initiative to bolster Save for Our Customer cost savings program and provide additional stimulus to key Leading Together strategic priorities
“In Q4, we again rallied our organization around our core strengths—operational excellence, tight cost control, and disciplined capital allocation,” Muller continued. “This was critical to provide fuel for reinvesting in our customer value proposition to offset the impact of inflation wherever possible. To that end, we significantly exceeded our original Save for Our Customers goals in 2022, generating €979 million in cost savings, which is over €100 million more than we had originally planned. I am proud of our associates across Ahold Delhaize and our local brands who left no stone unturned. As many of the same challenges persist and may even intensify in 2023, this formula will continue to play an important role as we look for further opportunities to improve our brands’ operations.”
Click here for more insights and to view the company’s updated outlook for 2023.
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