* With high levels of inflation, our brands are focused on helping customers efficiently manage their
spending. Driven by our €850 million Save For Our Customers cost savings program, our brands are
absorbing cost increases for customers, introducing more entry-priced products, expanding high-quality
own-brand assortments and delivering personalized value through loyalty programs.
* Q2 Group net sales increased 6.4% at constant exchange rates to €21.4 billion. At actual exchange rates,
net sales grew 15.0%.
* Q2 net sales accelerated in both regions compared to Q1, growing 7.7% in the U.S. and 4.2% in Europe
at constant rates. Increased market share in the majority of markets reflects strong customer loyalty to
our locally tailored customer value propositions.
* Net consumer online sales increased 4.8% at constant exchange rates. Net consumer online sales in
grocery increased 11.5% at constant exchange rates, as we continue to invest in creating the leading
local omnichannel food experience.
* Q2 underlying operating margin was 4.1%, in line with the Company's historical profile, versus last year's
COVID-19-supported Q2 underlying operating margin of 4.5%.
* Q2 IFRS-reported operating income was €895 million and Q2 IFRS-reported diluted EPS was €0.60.
* Q2 diluted underlying EPS was €0.59, an increase of 11.0% over the prior year at actual rates.
* Based on the strong half-year earnings as well as other macro-economic, foreign exchange and interest
rate factors, the Group now expects mid-single-digit growth in underlying EPS compared to 2021 levels
(originally expected decline of low- to mid-single digits vs. 2021 levels) and an increase in 2022 free cash
flow guidance to a level of approximately €2.0 billion (originally €1.7 billion).
* Cumulative Group free cash flow guidance increased to be around €7.5 billion from 2022 to 2025
(originally above €6 billion). Group capital expenditure now projected to average closer to 3% per annum
from 2022 to 2025 (originally 3.5% per annum).
* Ahold Delhaize has decided to suspend its intention to sub-IPO bol.com in H2 2022 and will revisit when equity market conditions are more conducive.
* 2022 interim dividend is €0.46 compared to 2021 level of €0.43, based on the Group's dividend policy.
Zaandam, the Netherlands, August 10, 2022 – Ahold Delhaize, one of the world’s largest food retail groups and a leader in both supermarkets and e-commerce, reports second quarter results today.
The interim report for the second quarter and half year 2022 can be viewed and downloaded at www.aholddelhaize.com.
Summary of key financial data
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