Supermarket group Ahold Delhaize booked €22.4 billion turnover, €696 mil. profit in Q3

Supermarket group Ahold Delhaize made more profit on a higher turnover in the third quarter of the year. Among other things, the company benefited from the more expensive dollar, but also saw more sales in stores that have been open for a year or longer. The company also further increased its expectations for the full fiscal year.

Ahold Delhaize recorded a turnover of 22.4 billion euros. That was 9.1 percent more year-on-year if you exclude currency effects. But due to the more expensive dollar, revenues increased by 21 percent. The group’s supermarkets managed to increase comparable sales by an average of 7.9 percent during the measurement period.

In particular, Ahold noted that sales in the United States were robust. In Europe, the company saw growth return despite a difficult comparison base with a year earlier when the company performed excellently. Online sales increased by almost 17 percent.

The company’s underlying profit amounted to 696 million euros. That was over a quarter more than the same period last year. Especially in Europe, the parent company of Albert Heijn and bol.com noticed that margins were under some pressure due to higher energy prices and challenging macroeconomic conditions.

For the full year, Ahold Delhaize expects double-digit profit growth, up from previous expectations of 4 to 6 percent. The group also announced that it would buy back 1 billion euros in its own shares from next year.