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Delhaize Group: Delhaize Group preliminary unaudited second quarter 2016 results

| Financial Summary Second Quarter 2016 |
| » Revenue growth of 4.3% at identical exchange rates |
| » Comparable store sales growth of 2.9% in the U.S. (3.9% real growth), 2.1% |
|in Belgium and 8.7% in Southeastern Europe |
| » Group underlying operating profit of €247 million (+12.1% at identical |
|exchange rates compared to the second quarter of last year) |
| |
|» Group underlying operating margin of 3.9% (4.1% in the U.S., 3.3% in Belgium |
|and 5.0% in Southeastern Europe) |
| Financial Summary First Half 2016 |
| » Revenue growth of 4.3% at identical exchange rates |
| » Group underlying operating profit growth of 18.2% at identical exchange |
|rates compared to the same period of last year |
| |
| Other highlights |
| » Closing of the merger between Delhaize Group and Royal Ahold expected on |
|July 23, 2016, subject to clearance from the U.S. Federal Trade Commission |
CEO Comments

Frans Muller, President and Chief Executive Officer of Delhaize Group,
commented: "We are pleased with the results we have published today. We grew
revenues and underlying operating profit in each of our three operating
segments while we also generated €258 million of operating free cash flow
(excluding Transformation Plan and merger related costs) in this second

"With 3.9% real growth during this quarter, Delhaize America continued to
experience good sales momentum both at Food Lion and at Hannaford, while
inflation remained negative. At Delhaize Belgium, our market share continued
to recover following the disruptions related to the Transformation Plan.
Nonetheless, our performance remains largely driven by our affiliated network
as our integrated stores' sales growth lags expectations, in a competitive
and price-driven market. Southeastern Europe's growth was again robust,
driven by Romania and Greece."

"For the full year and excluding the impact of the merger with Ahold, we are
confident to deliver approximately €400 million of free cash flow excluding
cash outs related to the Transformation Plan and related to the merger. In
addition, we expect underlying operating profit to be in line with current
market expectations. Building on these second quarter results, we look
forward to completing the merger with Ahold on July 23, subject to clearance
from the FTC, and to work together with our future colleagues at Ahold
Delhaize to build an even stronger company."

Full press release in pdf format


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Delhaize Group via Globenewswire


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