Monday, May 10, 1999
Royal Ahold, the leading food retailer, achieved 1999 first-quarter (16 weeks) consolidated sales (excluding VAT) of $ 9.3 billion (NLG 20.5 billion), an increase of 27.2% over the first-quarter of 1998. At constant exchange rates, sales would have risen 31.7%.
In the US, sales rose 36.7% to USD 6.1 billion, reflecting in large part the acquisition of Giant-Landover in October 1998. Excluding Giant-Landover, sales would have risen 6.3%.
In The Netherlands, sales rose 3.5% to $ 2.4 billion (NLG 5.2 billion). In Europe outside The Netherlands, sales advanced 38.9% to $ 517 million (NLG 1.1 billion). All countries (Poland, Portugal, Spain, Czech Republic) contributed to the considerable sales increase.
In Latin America, sales doubled to $ 770 million (NLG 1.7 billion). The increase reflects the consolidation of Disco in Argentina and Santa Isabel in Chile. Also Bompreço in Brazil achieved a clear improvement in sales, expressed in local currency. Sales in Asia rose 28.6% to E 132 million (NLG 290 million). Thailand, Malaysia, Singapore and China all contributed to the improved sales.
Outlook full-year 1999
Based on current performance, the Corporate Executive Board confirms its expectation expressed in the 1998 annual report that sales and results will improve in all regions. Excluding currency fluctuations, earnings per share will rise between 15% and 20%. Results for 1999 first-quarter will be in line with the outlook for the full-year. Ahold will publish its 1999 first-quarter results on June 10, 1999.