Ahold Delhaize has announced a pro forma 5.2% increase in underlying EBITDA for full-year 2016, to €4.063 billion, according to accounts just filed.
In addition, underlying operating margin at the group was 3.7%, an increase of 20 basis points on the previous year.
Pro forma net sales at the group for 2016 were €62.3 billion, a 2.4% increase (or 2.1% at constant currency rates), as the company previously announced in January.
The group said that it has already made €22 million worth of synergies as part of its ‘Better Together’ plan to deliver net synergies of €500 million by 2019.
In The Netherlands, pro forma net sales were up 3.1% for the full year, with the business growing its market share by 20 basis points to 35.2%, as a result of increased investment in own brand and omnichannel retailing.
In Belgium, pro forma net sales for the year were 1.7% higher. Central and Eastern Europe saw a pro forma increase of 8.0% in net sales for the year (+8.1% at constant currency levels).
Ahold USA posted a pro forma net sales increase of 0.5%, while Delhaize America saw a pro forma net sales increase of 1.9%.
“2016 was not only a year where we brought together two strong food retailers,” said Dick Boer, chief executive, Ahold Delhaize. “It was also a year in which our great local brands drove solid performance, serving our customers both in stores and online.
"I am very pleased with the financial results in the fourth quarter with volume growth and strong margins, while making good progress implementing our Better Together strategy which we announced in December."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
