Ahold Delhaize Q2 2020 Results

• Net sales were €19.1 billion, up 17.1 percent, or 15.9 percent at constant exchange rates
• In the US and Europe, comp sales growth excluding gas was up 20.6 percent and 10.2 percent, respectively
• Net consumer online sales grew 77.6 percent 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 percent at constant exchange rates
• Underlying operating margin was 5.3 percent, up 1.7 percent points from the prior year at constant exchange rates
• Diluted EPS was €0.65; diluted underlying EPS was €0.65, increasing 87.9 percent
• 2020 outlook raised, with underlying EPS growth in the low-to-mid-20 percent range; free cash flow expected to be at least €1.7 billion, net of paying the majority of a tentative US pension plan withdrawal agreement
• 2020 interim dividend is €0.50, up 67 percent and based on 40 percent of first half 2020 underlying income per share

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.

The interim report for the second quarter and half year 2020 can be viewed and downloaded here.