Ahold Delhaize Swung to 4Q Net Profit, but Sees Lower 2022 Underlying EPS Growth
February 16 2022 - 2:41AM
Dow Jones News
By Ian Walker
Royal Ahold Delhaize NV on Wednesday reported a swing to net
profit for the fourth-quarter of 2021, beating market forecasts,
though it said that it expects adjusted earnings per share to fall
this year as margins return to historical levels.
The Dutch grocer made a net profit for the quarter of 634
million euros ($720.2 million), compared with a net loss of EUR9
million for the year-earlier period and a consensus profit of
EUR535 million taken from the company's website and based on 12
analysts' forecasts.
Net sales rose to EUR20.15 billion from EUR19.60 billion the
prior year, a rise of 0.1% on a constant-exchange basis. This
compares with a consensus of EUR19.83 billion, according to a
company-compiled consensus of 18 analysts' estimates.
Like-for-like U.S. net sales excluding gas rose 16%, while
European sales climbed 12%, the company said.
Quarterly underlying earnings per share--which strips out
exceptional and other one-off items--rose to 59 European cents from
53 cents, up 7.6% on a constant-exchange basis, it said.
For the year ahead, the company said it expects underlying EPS
to fall by low- to mid-single digits compared with 2021. For 2021
as a whole, underlying EPS fell 0.5% at constant exchange
rates.
The board has declared a final dividend of 52 cents a share, up
from 40 cents a year earlier, taking the total payout for the year
to 95 cents, compared with 90 cents.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
February 16, 2022 02:26 ET (07:26 GMT)
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