February 28, 2018 / 6:22 AM / in 8 months

BRIEF-Koninklijke Ahold Delhaize NV Confirms Target For 2018 Of Realizing EUR 420 Million Net Synergies

Feb 28 (Reuters) - Koninklijke Ahold Delhaize Nv:

* WE CONFIRM OUR TARGET FOR 2018 OF REALIZING €420 MILLION NET SYNERGIES

* WE REMAIN CONFIDENT TO REACH €750 MILLION OF GROSS SYNERGIES FOR 2019

* WE EXPECT FREE CASH FLOW IN 2018 TO BE AT A SIMILAR LEVEL AS IN 2017

* WE WILL RETURN A RECORD €2 BILLION THROUGH OUR SHARE BUYBACK PROGRAM FOR 2018‍​

* FOLLOWING TAX REFORMS IN THE U.S. AND BELGIUM, EXPECTS EFFECTIVE TAX RATE TO MOVE TO LOW 20% RANGE GOING FORWARD

* CAPITAL EXPENDITURE IS EXPECTED TO INCREASE TO €1.9 BILLION IN 2018

* EXPECTS TO FULLY DELIVER TARGETED IMPROVEMENT OF €175 MILLION IN WORKING CAPITAL IN 2018, COMPARED TO 2016 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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