Reported Earnings • Aug 05
Second quarter 2026 earnings released: EPS: €0.60 (vs €0.60 in 2Q 2025) Second quarter 2026 results: EPS: €0.60 (down from €0.60 in 2Q 2025). Revenue: €23.2b (flat on 2Q 2025). Net income: €526.0m (down 4.0% from 2Q 2025). Profit margin: 2.3% (down from 2.4% in 2Q 2025). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Announcement • May 07
Koninklijke Ahold Delhaize N.V Announces CEO Changes Koninklijke Ahold Delhaize N.V. announced that Ahold Delhaize expects Thierry Garnier, to replace its outgoing chief executive, Frans Muller, around its annual general meeting in April 2027. Mr. Garnier joined Kingfisher as chief executive in September 2019, just before the Covid-19 pandemic struck and at a torrid time for the group, which was shutting shops and battling tumbling profits. Previous boss Veronique Laury had led a lengthy and drastic overhaul, which took its toll on the firm’s performance. He joined with a priority to fix issues with the group’s IT and supply chain in France and halting some initiatives to concentrate on reversing sales declines. Mr. Garnier then steered the group through the pandemic and the boom in demand for home improvement products during multiple lockdowns, which was following by volatile trading in the years that followed. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: €0.63 (vs €0.61 in 1Q 2025) First quarter 2026 results: EPS: €0.63. Revenue: €22.3b (down 4.3% from 1Q 2025). Net income: €552.0m (flat on 1Q 2025). Profit margin: 2.5% (up from 2.4% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Consumer Retailing industry in Europe. Announcement • May 06
Koninklijke Ahold Delhaize N.V. Announces That Frans Muller Outgoing as President Koninklijke Ahold Delhaize N.V. announced that Ahold Delhaize expects Thierry Garnier, to replace its outgoing president, Frans Muller, around its annual general meeting in April 2027. Mr. Garnier joined Kingfisher as chief executive in September 2019, just before the Covid-19 pandemic struck and at a torrid time for the group, which was shutting shops and battling tumbling profits. Previous boss Veronique Laury had led a lengthy and drastic overhaul, which took its toll on the firm’s performance. He joined with a priority to fix issues with the group’s IT and supply chain in France and halting some initiatives to concentrate on reversing sales declines. Mr. Garnier then steered the group through the pandemic and the boom in demand for home improvement products during multiple lockdowns, which was following by volatile trading in the years that followed. Upcoming Dividend • Apr 04
Upcoming dividend of €0.73 per share Eligible shareholders must have bought the stock before 10 April 2026. Payment date: 23 April 2026. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Italian dividend payers (4.7%). In line with average of industry peers (3.3%). Declared Dividend • Feb 13
Final dividend increased to €0.73 Dividend of €0.73 is 9.0% higher than last year. Ex-date: 10th April 2026 Payment date: 23rd April 2026 Dividend yield will be 3.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 12
Full year 2025 earnings released: EPS: €2.51 (vs €1.90 in FY 2024) Full year 2025 results: EPS: €2.51 (up from €1.90 in FY 2024). Revenue: €92.4b (up 3.4% from FY 2024). Net income: €2.26b (up 28% from FY 2024). Profit margin: 2.5% (up from 2.0% in FY 2024). The increase in margin was driven by higher revenue. Like-for-like sales growth: 3.2% vs FY 2024 Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Dec 23
Koninklijke Ahold Delhaize N.V., Annual General Meeting, Apr 08, 2026 Koninklijke Ahold Delhaize N.V., Annual General Meeting, Apr 08, 2026. Recent Insider Transactions • Dec 17
President recently sold €2.0m worth of stock On the 12th of December, Frans W. Muller sold around 58k shares on-market at roughly €34.38 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Frans W. has been a net seller over the last 12 months, reducing personal holdings by €4.1m. New Risk • Nov 08
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 40% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (40% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: €0.65 (vs €0.40 in 3Q 2024) Third quarter 2025 results: EPS: €0.65 (up from €0.40 in 3Q 2024). Revenue: €22.5b (up 2.2% from 3Q 2024). Net income: €584.0m (up 57% from 3Q 2024). Profit margin: 2.6% (up from 1.7% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Nov 05
Ahold Delhaize Announces Executive Changes, Effective from January 1, 2026 Ahold Delhaize announced it has appointed Alexandros Boussis, currently SVP Commerce Marketing, as the new Brand President of local Belgian brand Delhaize as of January 1, 2026. Current Delhaize Brand President Xavier Piesvaux will step down as per that date and will ensure a smooth transition. Alexandros Boussis started his career at Delhaize in 2011. In those 14 years, he has taken on various responsibilities in finance and commerce. Alexandros has been a member of the Delhaize Executive Committee since 2019 and has made a strong contribution to cross-brand collaboration efforts, generating tangible value for the brand and the wider Group. Xavier Piesvaux started as Brand President of Delhaize in September 2017. Over more than eight years, he has revitalized Delhaize's brand with a strategy built around fresh and healthy products: 'Better eating is at the heart of betting living, for all'. With the step towards a model with 100% affiliated stores in Belgium, Xavier has thoroughly future-proofed Delhaize's organization and business model. After January 1, 2026, Xavier Piesvaux will continue to work in the Ahold Delhaize organization. Delhaize will communicate more on the scope of Alexandros' current responsibilities in commerce and marketing in the board of Delhaize before the end of 2025. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: €0.60 (vs €0.53 in 2Q 2024) Second quarter 2025 results: EPS: €0.60 (up from €0.53 in 2Q 2024). Revenue: €23.1b (up 3.3% from 2Q 2024). Net income: €548.0m (up 9.8% from 2Q 2024). Profit margin: 2.4% (up from 2.2% in 2Q 2024). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Jun 20
Ahold Delhaize Announces Step Down of Peter Agnefjall from the Supervisory Board, Effective October 1, 2025 Ahold Delhaize announced step down of Peter Agnefjall from the Supervisory Board, effective October 1, 2025. Peter joined the Ahold Delhaize Supervisory Board in April 2019 and has served as Chair since January 1, 2021. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: €0.61 (vs €0.55 in 1Q 2024) First quarter 2025 results: EPS: €0.61 (up from €0.55 in 1Q 2024). Revenue: €23.3b (up 7.1% from 1Q 2024). Net income: €554.0m (up 8.0% from 1Q 2024). Profit margin: 2.4% (in line with 1Q 2024). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 04
Upcoming dividend of €0.67 per share Eligible shareholders must have bought the stock before 11 April 2025. Payment date: 24 April 2025. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Italian dividend payers (5.6%). In line with average of industry peers (3.7%). New Risk • Mar 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (17% increase in shares outstanding). Declared Dividend • Mar 03
Final dividend increased to €0.67 Dividend of €0.67 is 9.8% higher than last year. Ex-date: 11th April 2025 Payment date: 24th April 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: €1.90 (vs €1.95 in FY 2023) Full year 2024 results: EPS: €1.90 (down from €1.95 in FY 2023). Revenue: €89.4b (flat on FY 2023). Net income: €1.76b (down 5.9% from FY 2023). Profit margin: 2.0% (down from 2.1% in FY 2023). Like-for-like sales growth: 1.2% vs FY 2023 Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Dec 31
Koninklijke Ahold Delhaize N.V., Annual General Meeting, Apr 09, 2025 Koninklijke Ahold Delhaize N.V., Annual General Meeting, Apr 09, 2025. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: €0.40 (vs €0.41 in 3Q 2023) Third quarter 2024 results: EPS: €0.40 (down from €0.41 in 3Q 2023). Revenue: €22.0b (flat on 3Q 2023). Net income: €372.0m (down 5.6% from 3Q 2023). Profit margin: 1.7% (in line with 3Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: €0.53 (vs €0.48 in 2Q 2023) Second quarter 2024 results: EPS: €0.53 (up from €0.48 in 2Q 2023). Revenue: €22.3b (up 1.2% from 2Q 2023). Net income: €499.0m (up 6.6% from 2Q 2023). Profit margin: 2.2% (in line with 2Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Announcement • Jun 05
Ahold Delhaize Announces Appointment of Gorica Jovovic as Brand President of Delhaize Serbia Ahold Delhaize announced the appointment of Gorica Jovovic will be appointed Brand President of Delhaize Serbia as of June 1, 2024. She had already taken up that role ad interim per 1 January 2024, which is now confirmed as definitive. Gorica will continue to report to Jesper Lauridsen, COO of the Central Southern Europe (CSE) region. Gorica was born and raised in Serbia Montenegro and joined the company in 2014. Since 2021 she has been part of the Delhaize Serbia Executive Committee. Under Gorica's leadership, the local brand Maxi has deployed their customer value proposition ('CVP') strategy successfully. The CVP provides differentiating offers and good value for customers, while at the same time securing long-term partnerships with suppliers. Gorica also played an instrumental role in the deployment of the company's Health Sustainability agenda as well as the CSE commercial programs and joint initiatives. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €0.55 (vs €0.58 in 1Q 2023) First quarter 2024 results: EPS: €0.55 (down from €0.58 in 1Q 2023). Revenue: €21.7b (flat on 1Q 2023). Net income: €513.0m (down 8.6% from 1Q 2023). Profit margin: 2.4% (down from 2.6% in 1Q 2023). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Apr 15
President recently bought €3.7m worth of stock On the 11th of April, Frans W. Muller bought around 133k shares on-market at roughly €27.46 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Frans W. has been a buyer over the last 12 months, purchasing a net total of €1.9m worth in shares. Upcoming Dividend • Apr 05
Upcoming dividend of €0.61 per share Eligible shareholders must have bought the stock before 12 April 2024. Payment date: 25 April 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Italian dividend payers (5.7%). In line with average of industry peers (4.1%). Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: €1.95 (vs €2.56 in FY 2022) Full year 2023 results: EPS: €1.95 (down from €2.56 in FY 2022). Revenue: €88.6b (up 1.9% from FY 2022). Net income: €1.87b (down 26% from FY 2022). Profit margin: 2.1% (down from 2.9% in FY 2022). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 3.9% vs FY 2022 Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 22
Final dividend increased to €0.61 Dividend of €0.61 is 3.4% higher than last year. Ex-date: 12th April 2024 Payment date: 25th April 2024 Dividend yield will be 4.0%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: €1.95 (vs €2.56 in FY 2022) Full year 2023 results: EPS: €1.95 (down from €2.56 in FY 2022). Revenue: €88.6b (up 1.9% from FY 2022). Net income: €1.87b (down 26% from FY 2022). Profit margin: 2.1% (down from 2.9% in FY 2022). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 2.3% vs FY 2022 Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: €0.41 (vs €0.59 in 3Q 2022) Third quarter 2023 results: EPS: €0.41 (down from €0.59 in 3Q 2022). Revenue: €21.9b (down 2.1% from 3Q 2022). Net income: €394.0m (down 33% from 3Q 2022). Profit margin: 1.8% (down from 2.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Nov 10
Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) announces an Equity Buyback for €1,000 million worth of its shares. Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) announces a share repurchase program. Under the program, the company will repurchase up to €1,000 million worth of its common shares. Announcement • Oct 31
Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) agreed to acquire S.C. Profi Rom Food S.R.L. from Mideuropa LLP for an Enterprise Value of approximately €1.3 billion. Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) agreed to acquire S.C. Profi Rom Food S.R.L. from Mideuropa LLP for an Enterprise Value of approximately €1.3 billion on October 30, 2023. In the twelve months ending June 2023, the company generated €2.5 billion in sales. The acquisition consideration will be 100% debt funded, with the transaction expected to close in 2024 following the satisfaction of customary closing conditions, including regulatory clearance. The transaction is subject to conditions including merger clearance under applicable competition laws and regulations. BofA Securities and Goldman Sachs acted as financial advisors to Ahold Delhaize; CMS and GNP Guia Naghi & Partners acted as legal advisors. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: €0.48 (vs €0.60 in 2Q 2022) Second quarter 2023 results: EPS: €0.48 (down from €0.60 in 2Q 2022). Revenue: €22.1b (up 2.9% from 2Q 2022). Net income: €468.0m (down 22% from 2Q 2022). Profit margin: 2.1% (down from 2.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 07
Koninklijke Ahold Delhaize N.V. Approves Appointment of New CFO Jolanda Poots-Bijl Koninklijke Ahold Delhaize N.V. announced that shareholders approved the appointment of Jolanda Poots-Bijl as a member of the management board during the Extraordinary General Meeting of Shareholders inZaandam. She will assume the role of chief financial officer on Oct. Poots-Bijl will join Ahold Delhaize mid-August as executive vice president, Finance, and member of the executive committee and will start as CFO after an induction period. She joins from offshore construction company Van Oord, where she has held the position of CFO since 2016. Buying Opportunity • Jun 01
Now 21% undervalued Over the last 90 days, the stock is up 1.0%. The fair value is estimated to be €37.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is also forecast to grow by 3.0% per annum over the same time period. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €0.58 (vs €0.54 in 1Q 2022) First quarter 2023 results: EPS: €0.58 (up from €0.54 in 1Q 2022). Revenue: €21.6b (up 9.4% from 1Q 2022). Net income: €561.0m (up 2.7% from 1Q 2022). Profit margin: 2.6% (down from 2.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 28
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be €39.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 1.6% per annum. Earnings is also forecast to grow by 3.7% per annum over the same time period. Recent Insider Transactions • Apr 17
President recently bought €4.8m worth of stock On the 13th of April, Frans W. Muller bought around 152k shares on-market at roughly €31.55 per share. This transaction amounted to 54% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Frans W. has been a buyer over the last 12 months, purchasing a net total of €1.2m worth in shares. Upcoming Dividend • Apr 08
Upcoming dividend of €0.59 per share at 3.7% yield Eligible shareholders must have bought the stock before 14 April 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Italian dividend payers (5.1%). Lower than average of industry peers (4.7%). Announcement • Feb 16
Ahold Delhaize Proposes Dividend for the for Fiscal Year 2022 Ahold Delhaize proposes dividend for the for fiscal year 2022. The company propose a cash dividend of €1.05 for fiscal year 2022, which is a 10.5% increase compared to 2021. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: €2.59 (vs €2.19 in FY 2021) Full year 2022 results: EPS: €2.59 (up from €2.19 in FY 2021). Revenue: €87.0b (up 15% from FY 2021). Net income: €2.58b (up 15% from FY 2021). Profit margin: 3.0% (in line with FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 11
Ahold Delhaize Announces Johan Boeijenga to Step Down as Brand President of Super Indo Ahold Delhaize announced that Johan Boeijenga will step down as Brand President of Super Indo, on 31 March 2023. Johan would like a better life balance between the Netherlands and Indonesia after successfully leading Super Indo in a challenging period for 5 years. He remains associated with Super Indo by supporting them in realizing their growth ambition. The search for a successor has commenced. Johan joined the former Ahold Group in 1988 as a management trainee in logistics. He joined the board of Ahold Indonesia in 1997 and became CEO of Ahold Indonesia in 2000. In 2003 he came back to Europe, taking up the EVP Supply Chain position at the board of Albert Heijn, followed by the role of President & CEO of Ahold Central Europe from 2006 to 2009. Johan then went on to retail CEO and COO endeavors outside of Ahold, returning to Ahold Delhaize in 2018 to become Brand President of Super Indo, a role dear to his heart. Announcement • Jan 11
Natalie Knight to Leave Ahold Delhaize as Chief Financial Officer Ahold Delhaize announced that Natalie Knight, Chief Financial Officer since 2020, has informed the company that she will pursue another career opportunity in the United States of America, and will leave Ahold Delhaize. A six months’ notice period applies. Recent Insider Transactions • Jan 05
Insider recently sold €1.7m worth of stock On the 27th of December, Kevin Holt sold around 63k shares on-market at roughly €27.68 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.4m more than they bought in the last 12 months. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: €0.60 (vs €0.52 in 2Q 2021) Second quarter 2022 results: EPS: €0.60 (up from €0.52 in 2Q 2021). Revenue: €21.4b (up 15% from 2Q 2021). Net income: €603.0m (up 12% from 2Q 2021). Profit margin: 2.8% (down from 2.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.0%, compared to a 8.0% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: €0.54 (vs €0.53 in 1Q 2021) First quarter 2022 results: EPS: €0.54. Revenue: €19.8b (up 8.3% from 1Q 2021). Net income: €546.0m (flat on 1Q 2021). Profit margin: 2.8% (down from 3.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.3%, compared to a 7.6% growth forecast for the industry in Italy. Upcoming Dividend • Apr 12
Upcoming dividend of €0.52 per share Eligible shareholders must have bought the stock before 19 April 2022. Payment date: 28 April 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (4.2%). Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €2.19 (up from €1.31 in FY 2020). Revenue: €75.6b (up 1.2% from FY 2020). Net income: €2.25b (up 61% from FY 2020). Profit margin: 3.0% (up from 1.9% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.1%, compared to a 8.4% growth forecast for the retail industry in Italy. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS €0.51 (vs €0.064 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €18.5b (up 4.0% from 3Q 2020). Net income: €522.0m (up €454.0m from 3Q 2020). Profit margin: 2.8% (up from 0.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS €0.52 (vs €0.65 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €18.6b (down 2.4% from 2Q 2020). Net income: €540.0m (down 22% from 2Q 2020). Profit margin: 2.9% (down from 3.6% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Executive Departure • Apr 20
Independent Member of Supervisory Board has left the company On the 14th of April, Ben Noteboom's tenure as Independent Member of Supervisory Board ended after 4.7 years in the role. As of December 2020, Ben personally held 15.64k shares (€367k worth at the time). A total of 4 executives have left over the last 12 months. Executive Departure • Apr 20
Independent Member of Supervisory Board has left the company On the 14th of April, Dominique Leroy's tenure as Independent Member of Supervisory Board ended after 4.7 years in the role. We don't have any record of a personal shareholding under Dominique's name. A total of 4 executives have left over the last 12 months. Upcoming Dividend • Apr 09
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 16 April 2021. Payment date: 29 April 2021. Trailing yield: 3.7%. Lower than top quartile of Italian dividend payers (4.0%). In line with average of industry peers (4.1%). Reported Earnings • Feb 20
Full year 2020 earnings released: EPS €1.32 (vs €1.60 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €74.7b (up 13% from FY 2019). Net income: €1.40b (down 21% from FY 2019). Profit margin: 1.9% (down from 2.7% in FY 2019). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 12.5% vs FY 2019 Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue beats expectations Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is expected to shrink by 6.5% compared to a 3.1% growth forecast for the Consumer Retailing industry in Italy. Is New 90 Day High Low • Feb 18
New 90-day low: €22.48 The company is down 5.0% from its price of €23.54 on 20 November 2020. The Italian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €33.65 per share. Is New 90 Day High Low • Nov 11
New 90-day low: €22.97 The company is down 11% from its price of €25.82 on 12 August 2020. The Italian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.36 per share. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS €0.064 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: €17.8b (up 6.8% from 3Q 2019). Net income: €68.0m (down 85% from 3Q 2019). Profit margin: 0.4% (down from 2.7% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Analyst Estimate Surprise Post Earnings • Nov 08
Revenue beats expectations Revenue exceeded analyst estimates by 1.0%. Over the next year, revenue is expected to shrink by 1.8% compared to a 2.3% growth forecast for the Consumer Retailing industry in Italy. Is New 90 Day High Low • Oct 22
New 90-day low: €24.54 The company is down 2.0% from its price of €25.10 on 24 July 2020. The Italian market is down 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Retailing industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.83 per share.