Trading Statement Fourth Quarter and Full Year 2015
Key highlights from the fourth quarter:
· Net sales excluding gas up 4.3% at constant exchange rates and adjusted for week 53 · In the U.S. identical sales excluding gas grew 1.6%, mainly driven by the New York Metro market · In the Netherlands identical sales increased 3.2%, reflecting strong holiday performance · Group online sales growth continued to accelerate; adjusted net consumer sales increased 29.1% · Expected total underlying operating margin higher than previous quarter and last year · FY 2015 free cash flow expected to be above last year Zaandam, the Netherlands - Ahold today announced consolidated net sales of €9.8 billion for the fourth quarter of 2015, an increase of 21.4% compared to the fourth quarter of 2014. At constant exchange rates, net sales were up 11.8%. For the full year 2015, consolidated net sales were €38.2 billion, an increase of 16.6% compared to 2014. At constant exchange rates, net sales were up 4.3%. Consolidated net sales in the fourth quarter and for the full year 2015 included a positive impact from an additional week compared to the previous year. Net sales in the fourth quarter and for the full year 2015 increased 3.1% and 2.3%, respectively, at constant exchange rates and on an adjusted basis. Excluding gas, net sales in the fourth quarter and for the full year 2015 increased 4.3% and 3.8%, respectively, at constant exchange rates and on an adjusted basis. In the United States, sales excluding gas, adjusted for an additional week in 2015, increased 4.1% at constant exchange rates compared to the fourth quarter 2014. We successfully converted the 25 acquired former A&P stores during the quarter. Identical sales excluding gas were up 1.6%, positively affected by competitor store closures in the New York Metro market. Market share for the fourth quarter and full year increased compared to last year. We expect underlying operating margin for the fourth quarter to be higher than the previous quarter, positively affected by the additional week this quarter. In the Netherlands, sales adjusted for an additional week in 2015 increased 5.5% compared to the fourth quarter of 2014, reflecting a strong holiday season. Identical sales increased 3.2% compared to the fourth quarter of 2014, with our online businesses bol.com and Albert Heijn Online increasing consumer sales by more than 30% compared to Q4 2014. Market share increased significantly for the fourth quarter as well as for the full year compared to last year. We expect underlying operating margin to be broadly in line with the previous quarter. In the Czech Republic, sales adjusted for an additional week in 2015 decreased 1.8% at constant exchange rates compared to the fourth quarter of 2014. Identical sales excluding gas decreased 0.5% compared to Q4 2014. During the fourth quarter, the sales performance of the former large SPAR stores improved, while the supermarkets continue to perform well. We expect free cash flow for the year to be ahead of last year, including the capital required for the conversion of the acquired A&P stores. Trading Statement Q4FY2015
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Source: Ahold via GlobeNewswire
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