Ahold Delhaize N.V. : Solid Q2 2024 allows room for manoeuvre in H2 2024; TP raised to € 33.5
>Sales and EBIT beat consensus by 1% and 7.5%, respectively, in Q2 2024 - Ahold Delhaize reported group sales of € 22,349m and underlying EBIT of € 933m in Q2 2024, ahead of consensus by 1% and 7.5%, respectively. Reported EBIT was € 143m lower than underlying EBIT, predominantly due to € 122m in costs associated with the Belgium Future Plan. Underlying EPS came in at € 0.65, ahead of expectations. FCF was lower than our forecast, but the CFO said that cash generation...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.
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