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BRIEF-Ahold Delhaize reaffirms 500 mln euro synergy target by 2019
December 7, 2016 / 7:12 AM / 10 months ago

BRIEF-Ahold Delhaize reaffirms 500 mln euro synergy target by 2019

Dec 7 (Reuters) - Koninklijke Ahold Delhaize NV :

* Integration is on track with clear visibility to generating 500 million euros ($535.9 million) in net synergies in 2019

* Launch of 1 billion euro share buyback program in 2017

* Dividend pay-out ratio of 40-50 pct of pro-forma underlying income from continuing operations

* New target to double net consumer online sales by 2020 from expected 2016 level of 2.3 billion euros

* Delhaize belgium is on track to deliver 80 million euros in savings in 2018 through the transformation plan

* Food Lion continues to win with its easy, fresh and affordable strategy and will roll it out to 160 additional stores in 2017, bringing the total to 540

* In 2017, free cash flow is expected to be around 1.6 billion.

* Continued focus on strong free cash flow with 1.6 billion euros expected for 2017

* Confirms integration costs of 350 million euros for 2015-2019

* Combined company in full-execution mode following merger completion on July 23, 2016 Source text for Eikon: Further company coverage: ($1 = 0.9330 euros) (Gdynia Newsroom)

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