Koninklijke Ahold Delhaize N.V.

Latest Results (23.10.2025):

Koninklijke Ahold Delhaize N.V. reported a solid second quarter of 2025 performance, driven by sales growth and strategic investments in omnichannel infrastructure and customer loyalty programs. The company achieved key milestones, including e-commerce profitability, and reiterated its positive full-year outlook.

Sales Growth

In Q2 2025, net sales reached €23.1 billion, increasing by 6.5% at constant exchange rates and 3.3% at actual exchange rates. The growth was supported by the acquisition of Profi and offset by the closure of Stop & Shop stores and the cessation of tobacco sales in the Netherlands and Belgium.

Comparable Sales Increase

Comparable sales excluding gasoline rose by 4.0% in Q2 2025, with a 3.4% increase in the U.S. and 4.9% in Europe. Positive factors included calendar shifts, while Europe faced a negative impact due to the cessation of tobacco sales.

E-commerce Profitability

Koninklijke Ahold Delhaize N.V. achieved e-commerce profitability on a fully allocated basis in the first half of 2025, highlighting the strength and scalability of its omnichannel model. Online sales grew by 14.4% at constant exchange rates during Q2 2025.

Operating Margin and Earnings

The underlying operating margin in Q2 2025 was 4.0%, a slight decrease of 0.2 percentage points at constant exchange rates. Underlying operating income was €861 million, with diluted earnings per share (EPS) at €0.60 and diluted underlying EPS increasing by 0.7% compared to the prior year.

2025 Outlook and Dividend

The company reiterated its 2025 full-year outlook, expecting an underlying operating margin around 4%, free cash flow of at least €2.2 billion, and gross capital expenditures around €2.7 billion. The interim dividend was set at €0.51, up from €0.50 in 2024.