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Ahold Earnings Q3 2009

  //house-home.news-articles.net/content/2009/11/17/ahold-earnings-q3-2009.html
  Published in House and Home on Tuesday, November 17th 2009 at 22:48 GMT by Market Wire
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AMSTERDAM, NETHERLANDS--(Marketwire - November 18, 2009) -

Highlights

* Sales up 4.3% to EUR 6.0 billion (up 2.6% at constant exchange rates)

* Operating income up 1.5% to EUR 265 million

* Net income EUR 238 million

* Volume growth in all markets

* New company-wide cost reduction program

Amsterdam, the Netherlands - Ahold today published its interim report for the third quarter of 2009. CEO John Rishton said: "We have again delivered solid results in a challenging environment. Volumes grew in all markets with good sales performance in the U.S., reflecting ongoing investment in value for our customers. In the Netherlands, we continued to grow market share and again delivered a strong margin reflecting effective cost management. We continue to adapt to the challenging environment, balancing sales and margins while seeking to grow market share and volumes.

"To continue to provide value to our customers, we have launched a new EUR 350 million cost reduction program for the three years ending in 2012. This program will focus on all aspects of our business, including store expenses, supply chain, and overhead across the group. Separately, we will deliver additional sourcing cost savings over the same period.

"On November 5, we announced organization changes to build a strong platform for growth and to provide even greater focus on our customers. We will pursue opportunities to grow within existing and new markets."

 Q3 Q3 % Q3 YTD Q3 YTD % (EUR million) 2009 2008* change 2009 2008* change Net sales 6,040 5,789 4.3%** 21,124 19,072 10.8%** Operating income 265 261 1.5% 956 832 14.9% Income from continuing operations 239 187 27.8% 684 585 16.9% Net income 238 195 22.1% 629 794 (20.8)% 

* Comparative figures reflect the changes in accounting policies as disclosed in note 2 to the interim financial statements.

** At constant exchange rates, net sales increased by 2.6% in Q3 2009 (Q3 YTD 2009: 4.5%).

Ahold Press Office: +31 (0)20 509 5291

The press release (including tables) can be downloaded from the following link:

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Ahold Earnings Q3 2009: [ http://hugin.info/130711/R/1355733/329198.pdf ]

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