Ahold Delhaize : A solid 2019 despite disruption at S&S, the group’s main US subsidiary - We are confident on 2020
>Q4 results were a shade above forecasts despite greater-than-expected pressure on the margin in the US (-43bp vs -26bp est.) - Overall the group delivered a solid Q4 2019. Consolidated sales came in at € 17.3bn, up 5% on a reported basis, +3.1% organic and +2.5% l-f-l (vs +2.2% est.).Underlying EBIT was € 765m, +3% reported and +1.1% organic with a 9bp contraction in the margin to 4.4%. This performance beat consensus forecasts by 2.3% (€ 748m) and came in a sha...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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