BRUSSELS, BELGIUM, 2014-3-13 — /EPR Retail News/ — Delhaize Group announced 2013 results, group revenue up 2.6%
Financial Highlights 2013
- Group revenue growth of 2.6% at identical exchange rates; organic revenue growth of 3.1%
- Food Lion phase roll-out completed
- Underlying operating profit of €753 million (-4.2%) or €769 million at identical exchange rates (-2.1%)» Free cash flow generation of €669 million
- Adoption of a dividend policy to pay out approximately 35% of underlying Group share in net profit from continued operations. Proposed full year gross dividend of €1.56 per share, an 11% increase compared to 2012.
Financial Highlights Fourth Quarter 2013
- Group revenue growth of 3.0% at identical exchange rates; organic revenue growth of 3.2%
- Solid comparable store sales growth at Delhaize America (+2.8%) driven by Food Lion and at Delhaize Belgium (+2.4%)
- Underlying operating margin of 3.4%; impacted by continued price investments in the U.S.
Executive Committee Changes
- Marc Croonen appointed as Chief Human Resources Officer and member of the Executive Committee
- Dirk Van den Berghe appointed as member of the Executive Committee in combination with his role as CEO Delhaize Belgium & Luxembourg
CEO Comments
Frans Muller, Chief Executive Officer of Delhaize Group, commented: “Since joining as CEO in November 2013, I have gained a thorough understanding of our Group, of the different markets in which we operate and of our banners. Our Group has strong foundations, with leadership positions in nearly all our markets, a solid balance sheet, and passionate associates. Since the beginning of the year, we continue to have positive momentum at Delhaize America while facing challenges in Belgium and Serbia.”
“In 2014, we will further differentiate our offer and support our core banners by focusing on maintaining or strengthening our local leadership positions. We will pursue operational efficiencies and exercise continued capital discipline in order to fund this.”
“For the current year, our capital expenditures will increase to approximately €625 million and we plan to open 180 stores. We intend to maintain or improve sales growth and continue to generate a healthy level of free cash flow.”