Food retail giant, Ahold Delhaize, Q2 eCommerce sales grow 77.6% to reach €7 Billion
Ahold Delhaize, one of the world’s largest food retail groups and a leader in both supermarkets and eCommerce, reports second quarter and half year results today.
Net sales were €19.1 billion, up 17.1%, or 15.9% at constant exchange rates
In the U.S. and Europe, comp sales growth excluding gas was up 20.6% and 10.2%, respectively
Net consumer online sales grew 77.6% at constant exchange rates; Ahold Delhaize will reach €7 billion net consumer online sales goal in 2020, one year ahead of plan
COVID-19-related costs were approximately €330 million in the first half of the year, and approximately €260 million in Q2, including safety measures and enhanced associate pay
Operating income was €1,004 million, increasing 78.0% at constant exchange rates
Underlying operating margin was 5.3%, up 1.7% points from the prior year at constant exchange rates
Diluted EPS was €0.65; diluted underlying EPS was €0.65, increasing 87.9%
2020 outlook raised, with underlying EPS growth in the low-to-mid-20% range; free cash flow expected to be at least €1.7 billion, net of paying the majority of a tentative U.S. pension plan withdrawal agreement
2020 interim dividend is €0.50, up 67% and based on 40% of first half 2020 underlying income per share1
