Ahold Delhaize N.V. : Confidently reiterate Outperform; TP raised to € 34
>Solid 2022 results beat expectations on most key items - Although Ahold Delhaize’s Q4 2022 and 2022 revenue came in about in line with both our and consensus forecasts, the group materially beat expectations for underlying operating profit in both the US and Europe. Group EBIT profitability came in at 4.3% in 2022, or 20bp ahead of our and consensus forecasts. On balance, we conclude that Ahold Delhaize’s group underlying operating profit margin is now back at levels...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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