The Belgian consumer does not seem immediately impressed with the group of merged companies, Ahold and Delhaize. The figures of the fourth quarter of 2016, the first digits that the merged group can show since the wedding, for our region, a decline of 0.9 percent. In bright contrast with that decline in sales at our state of the progress in the Netherlands (+6,6 %), the usa (+ 2%) and Eastern and Southern Europe (+ 3,4%). That last was mainly due to Ahold, Delhaize more stores in Romania had over a year ago.
In a communication from the supermarktgroep, among others, Delhaize, Albert Heijn and Bol.com under the roof, sounds satisfaction over the nearly 3 percent growth of the total group. Good for a kwartaalcijfer of 15.1 billion euros.
Striking in the figures is a sharp rise in the Netherlands of the online sales. With online brands such as bol.com and ah.nl get Ahold Delhaize an increasingly stronger position on the internet. But within the company as a whole suggest that 20 percent more online sales still only little for. Online sales now accounting for 3.3 percent of sales. But turn the relative growth against the absolute figures and it becomes clear why the old-fashioned store sales still more important.
another boost is the United States, the largest market of the company. Did there especially Delhaize well, with a plus of 2 percent. The American stores of Ahold saw the sell a fraction to decrease (-0,2%).
The decrease in the sales of Delhaize in Belgium is mainly on account of the own stores. The franchisees are doing better, says Alan Brown, an analyst at beurshuis KBC Securities. “The differences between our own shops and the franchise dates, however, already before the merger. So that, you can’t call.”
Vandenberghe points out, the lesser sales in our country, especially because our country is but for about 8 percent of the equation in the whole group. “The center of gravity is located in the US, and there are the figures, then again surprisingly good. Taking into account stiff competition from Walmart, for example. You can see that the merged group be reaping the benefits of the merger.” Also analyst Robert Jan Vos of ABN Amro, speaks of the ‘excellent growth’.
Or the Belgian branch should fear for an operation, as she is the only one of the retail group, the figures looks deteriorate? No, concluded analysts from KBC Securities and ING.
to Say that this is now a complete surprise, is also not correct. That sales in the final months of 2016, something fell, it was by the observers already mentioned. The stiff competition in the us is not foreign to that. This saw also that the margins came under pressure to stand.
Vandenberghe: “That the management of his business model, what will adjust, that seems to me with these figures to make sense. But an additional structural surgery, I don’t see it happen.” According to the analysts Delhaize even more bets on a better interaction with the Dutch Albert Heijn. Especially in the area of quality fresh and convenience see Vandenberghe and more possibilities. Also the refresh of the outdated winkelpatrimonium for a surge of worry.
Share “That the management model that will adjust, that seems to me with these figures to make sense. But an additional structural surgery, I don’t see it happen”
At Delhaize itself points out, were, of course, also the lesser sales. Roel Dekelver refers to the bad falling christmas holidays. Christmas fell on Sunday and only the day after started two weeks christmas holidays. This bought customers according to Delhaize fewer products for the festivities. That christmas in the Netherlands at the same moment fell, and the sales don’t seem to be affected that interpretation is at least debatable.
The investors were all pleased, and sent the share smooth higher for a tepid day of trading.
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