Editorial ABM Financial News – 20 January 2017, 19:29
Analysts and investors are positive about quarterly results.
(ABM FN-Dow Jones) Analysts and investors have this week responded positively to the first consolidated reporting of Ahold, Delhaize, although the pro-forma revenues of the, on July 23, 2016 merged Dutch-Belgian retailconcern about the fourth quarter, however, was lower than a year ago.
on Thursday reported sales decline was expected, as these are fully attributable to the fact that the quarter this year, a full sales week less counted than a year ago. Without that effect, there was an increase in revenue.
The pro forma revenues, which allows a proper comparison with the combined figures for the merger is possible, fell 15.7 billion to 15.5 billion euros. This figure was slightly higher than the expectations of analysts, on average, on a turnover of 15.4 billion euros expected.
The custom and comparable pro forma revenue at constant currencies, in a similar number of stores, and taking into account an additional sales week in the fourth quarter of 2015, increased by 2.8 percent.
sales in the United States declined in the various formats and online provider Peapod by Ahold by 0.2 percent, mainly as a result of deflation, but sales at U.s. chains from Delhaize increased by 2.2 percent due to significant volume growth.
In the Netherlands the turnover increased by 6.6 per cent thanks to product innovations, improved service and significantly increased online sales. In Belgium, sales decreased 0.9 percent due to a difficult comparison base due to a strong comparable quarter a year ago.
In Central and Eastern Europe, where Ahold operates in the Czech republic and Delhaize in Serbia, Romania and Greece, increased comparable sales by 3.4 percent, mainly thanks to sales growth of the stores in Romania and Greece.
Ahold, Delhaize made on the beleggersdag on december 7, known on track to achieving synergies of the merger in the amount of 500 million euro in 2019. The group repeated on Thursday expected around 2016, underlying operating margin will be slightly above that of 2015 to achieve a free cash flow of approximately 1.3 billion euro. Ahold, Delhaize on 1 march 2017 the full report on the fourth quarter and throughout 2016 present.
Analyst Alan Vandenberghe of KBC Securities said request
The analyst saw little news and also the repetition of the expectations for the whole of 2016 was no surprise. KBC Securities uses for Ahold, Delhaize a buy recommendation with a target price of 25.00 euros.
Marktvorsers of Jefferies were broadly agree with this analysis and spoke of a “solid sales” thanks to volume growth in the United States and a greatly increased comparable sales in the Netherlands.
The analysts found that in the valuation of the share is currently too much risk of pressure on margins in the short term has been priced in. The headwind of deflation in the United States, one of the most important markets for Ahold, Delhaize, would on the other hand now understand to decline. Ahold, Delhaize is for Jefferies, the top favourite among the food retailers in 2017. The advice is Buy with a target price of 24,00 euro.
The stock ended Friday’s 2.7 percent higher than a week earlier and resulted in one of the best performance among the blue chip companies on the Damrak.
By: ABM Financial News.
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