'Sales and operating earnings in 2000 are expected to rise in all Ahold trade areas, reflect
ing healthy autonomous growth and new acquisitions. We anticipate net earnings will be
strongly higher than in 1999. Earnings per share, excluding currency fluctuations, are
expected to increase by at least 15%. The acquisition of U.S. Foodservice is expected to
further enhance this growth to 17-20% in 2000.
individual customer, we offer fully
operational websites with order taking and
home delivery in The Netherlands, a
number of US cities and in Buenos Aires,
Argentina. Various new sites for customer
ordering will be up and running and a
well-coordinated effort will streamline
the activities to make Ahold a powerful
e-commerce player in the US. We will use
the net as an additional sales and com
munication channel for food and related
items and to offer various new services
our customers expect from us. Ahold's
e-commerce strength is in fulfillment
experience based on a mixed business
model benefiting from existing warerooms
and warehouses. Partnerships with
specialized parties looking after delivery
are under consideration. We definitely
plan to be among the leaders in food
sales on the internet.
We feel very good about our business and
the way we are growing into a multi
channel food provider, blending together
successful new technology elements with
those of an established food distributor.
We continue to grow, accelerate where
we can, innovate constantly and keep the
customer first and foremost to benefit all
our stakeholders in the way they have
always expected.
Despite our bullish outlook the stock
market has not rewarded us recently.
We are very much aware that many loyal
shareholders have suffered a severe
decline in the value of their holdings.
We will do everything possible to ensure
that our company's valuation will fairly
reflect our continued superior perform
ance, our very strong growth potential
and last but not least our strategy to
constantly innovate the traditional lines
of business as well as to vigorously pursue
new and related channels of trade.
Let us conclude by giving you our fore
cast for 2000: sales and operating earn
ings are expected to rise in all Ahold
trade areas, reflecting healthy
autonomous growth as well as new acqui
sitions. We anticipate that net earnings
will be strongly higher than in 1999.
Earnings per share, excluding currency
fluctuations, are expected to increase by
at least 15%. The acquisition of U.S.
Foodservice is expected to further
enhance this growth to 17-20% this year.
Thank you for your support and ongoing
commitment to our company.
On behalf of the Corporate Executive
Board,
Cees van der Hoeven
President and CEO.
Corporate Executive Board
C.H. van der Hoeven, President
J.G. Andreae
A.M. Meurs
A.S. Noddle
R.G. Tobin
Supervisory Board
H. de Ruiter, Chairman
R.J. Nelissen, Vice Chairman
J.A. van Kemenade
A.J. Kranendonk
R.F. Meyer
Sir Michael Perry CBE
L.J.R. de Vink
Senior Vice Presidents
G.J. van Breen, Global Sourcing
A.J. Brouwer, Management Development
and Organization
A. Buitenhuis, Finance and Fiscal Affairs
M.J. Dorhout Mees, Business
Development
P.P.M. Ekelschot, Internal Audit
H. Gobes, Communications
C. Sterk, Financial Services
A.H.P.M. van Tielraden, Legal Affairs
L.A.P.A. Verhelst, Administration
N.L.J. Berger, Secretary
As of March 7, 2000
Royal Ahold Annual Report 1999
