Ahold Delhaize reports strong Q4 profits | Progresiv
Ahold Delhaize has reported a strong rise in profits for its fiscal fourth quarter, adding to its previously-announced rise in sales for the period. 
For the quarter, underlying operating profit was up 9.5% to 691 million euros (+7.2% constant-currency basis), while underlying EBITDA grew by 4.5% to 1.13 billion euros (+2.4% constant-currency basis). However, net profit fell by 30.5% to 517 million euros.
The results meant full-year underlying operating profit was up 4% to 2.55 billion euros (+6.7% constant-currency) with underlying EBITDA edging up 1.4% to 4.3 billion euros (4.1% constant-currency). Net profit, meanwhile, declined by 1.4% to 1.8 billion euros (flat on a constant-currency basis).
Ahold Delhaize reported synergy savings of 432 million euros for the year, bringing it closer to its target of 500 million euros net synergies on an annual basis. For 2019, it expects to realise 540 million euros of cost savings.
CEO Frans Muller noted: “In 2018 we essentially completed the merger integration process and delivered on the synergies we promised. At the same time, we continued our strong business performance, while investing in meeting the needs of our customers in a rapidly changing industry … “With our Leading Together strategy in place, our focus turns to further strengthening our great local brands by accelerating investments in omnichannel growth, technology, and a healthy and sustainable offering to customers. The Save for Our Customers programme will support the funding of our investments in future profitable growth.” (www.kamcity.com)
