Ahold Delhaize N.V. : 2023 results okay, but 2024 outlook very reassuring; Outperform reiterated
>Without the noise, Q4 2023 results were not a lot better than okay - Although the market reaction to Ahold Delhaize’s Q4 2023 results was positive last Wednesday (14 February), we conclude that this was mainly related to the reassuring outlook for 2024. When zooming in on the Q4 2023 results, we consider that without some one-off benefits that are included in underlying EBIT, the results were in line in the US and a bit below estimates in Europe. At a group level, th...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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