Report
Clement Genelot

Ahold Delhaize: momentum needs another quarter to recover

Ahead of the FY release on 14th February, we have cut our Q4 EBIT by 4% to reflect steeper food disinflation in the US and the Netherlands. FY 2023 guidance and the yield stock status both remain intact as the group's fundamentals are far from broken. But restoring growth/margin momentum will take
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Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Clement Genelot

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