Ahold Delhaize Reports Strong Q1 2023 Financial Results

Global Portfolio Drives Growth in Net Sales and Diluted EPS

Ahold Delhaize, a leading international food retailer, has reported strong financial results for the first quarter of fiscal year 2023. The company's global portfolio of brands, including Albert Heijn, Giant Food, Food Lion, and Hannaford, delivered growth in net sales and diluted earnings per share (EPS).

Key Highlights

In Q1, Ahold Delhaize reported group net sales of €19.8 billion, an increase of 5.7% compared to the same period last year. Diluted EPS increased by 8.6% to €0.60.

The company's strong performance was driven by its focus on customer-centric initiatives, such as expanding its online grocery offerings and investing in store renovations. Additionally, Ahold Delhaize was able to increase its market share in several key markets, despite a declining overall market.

Outlook for 2024

Ahold Delhaize has also provided an outlook for 2024, forecasting modest sales growth and continued profit improvement. The company expects to further invest in its digital capabilities and explore new growth opportunities to drive sustained success.

Commitment to Shareholders

At the company's General Meeting of Shareholders held on April 10, 2024, the dividend on common shares was approved. Ahold Delhaize remains committed to delivering value to its shareholders and investing in its business for the long term.

Stay tuned for further updates on Ahold Delhaize's financial performance and strategic initiatives in the coming quarters.