Ahold Delhaize Reports First Quarter 2022 Financial Results; Frans Muller Comments
ZAANDAM, NETHERLANDS - Several different strategies came together to deliver strong financial results for the first quarter of Ahold Delhaize’s fiscal year. The retailer divulged several details in its recent report, outlining a net sales increase of $1.56 billion compared to Q1 2021.
"I am pleased to report a strong start to the year for Ahold Delhaize," said Frans Muller, President and Chief Executive Officer. "In times like these, our strong global portfolio of local brands provides distinct competitive and societal advantages. This allows us to successfully navigate short-term market volatility and, at the same time, provide financial stability and operational bandwidth to focus on our long-term growth agenda."
For this quarter, net sales increased 8.3 percent to $20.61 billion (€19.8 billion). In 2021, net sales weighed in at $19.05 billion (€18.3 billion). According to the report, this increase is largely due to food-at-home consumption remaining top of mind for consumers.
Other metrics from the report include:
- Q1 comparable sales excluding gas grew 3.3 percent (3.9 percent excluding weather and calendar impacts) in the United States
- Net consumer online sales declined 1.0 percent at constant exchange rates, following growth of 103.3 percent during Q1 in the prior year
- Q1 underlying operating margin was 4.2 percent, in line with the company's historical profile
- Q1 IFRS-reported operating income was $851.59 million (€818 million) and Q1 IFRS-reported diluted EPS was $0.56 (€0.54)
"Through our 19 great local brands, on the whole, we lapped prior year pandemic lockdowns with further market shares gains and healthy growth rates in our online grocery business while, at the same time, preserving our industry-leading profitability metrics," Muller continued.
To read the report in its entirety, please click here.
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