Report
Clement Genelot

AHOLD DELHAIZE | NEUTRAL | EUR31 • FY guidance once again upgraded and Bol.com’s financing concerns removed

AHOLD DELHAIZE | NEUTRAL | EUR31
• FY guidance once again upgraded and Bol.com’s financing concerns removed
• Q2 sales 2% above expectations, price increases in the US continue to drive the performance
• Q2 EBIT 8% above expectations thanks to the US
• FY 2022 guidance upgraded
• Ahold Delhaize already addressing the concerns around Bol.com
Underlyings
Koninklijke Ahold Delhaize N.V.

Koninklijke Ahold Delhaize is an international group of supermarket and foodservice operators based in Europe and the U.S. Co. operates supermarkets and convenience stores. In addition, Co. provides online food retailing services. Co. also finances, develops and manages store sites and shopping centers. Ahold Europe comprises Albert Heijn in the Netherlands and Belgium; Etos, Gall & Gall, and albert.nl in the Netherlands; and Albert / Hypernova in the Czech Republic and Slovakia. Ahold USA is organized into four retail divisions: Giant Carlisle, Giant Landover, Stop & Shop New England, and Stop & Shop New York Metro. The Peapod online business is also part of Ahold USA.

Provider
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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