Edition:
United Kingdom

Ahold Delhaize Sees 2019 Underlying Operating Margin Slightly Lower YoY


Tuesday, 23 Apr 2019 

April 23 (Reuters) - Koninklijke Ahold Delhaize NV ::REG-STOP & SHOP MANAGEMENT AND LOCAL UNIONS AGREE TO TENTATIVE TERMS; AHOLD DELHAIZE GIVES UPDATE ON GUIDANCE FOLLOWING STRIKE.AS RESULT OF STRIKES, STOP & SHOP ESTIMATES ONE-OFF IMPACT ON UNDERLYING OPERATING PROFIT OF BETWEEN $90 MILLION - $110 MILLION.ALL STOP & SHOP ASSOCIATES ARE OFFERED PAY INCREASES - CEO.ELIGIBLE ASSOCIATES HAVE CONTINUED EXCELLENT HEALTH COVERAGE AND ELIGIBLE ASSOCIATES HAVE ONGOING DEFINED BENEFIT PENSION BENEFITS - CEO.AHOLD DELHAIZE NOW ANTICIPATES UNDERLYING OPERATING MARGIN FOR GROUP FOR 2019 TO BE SLIGHTLY LOWER THAN 2018.PERCENTAGE GROWTH OF UNDERLYING EARNINGS PER SHARE IN 2019 IS REVISED FROM HIGH SINGLE DIGITS TO LOW SINGLE DIGITS.WE EXPECT GROUP FREE CASH FLOW TO BE UNCHANGED AT AROUND EUR 1.8BN (IFRS 16 DEFINITION) FOR FULL YEAR 2019.Q1 2019 FINANCIAL RESULTS ARE UNAFFECTED AND IN LINE WITH EXPECTATIONS.