Record sales and earnings
Financial review
Operating Results (x 1 million)
Sales (x 1 billion)
Total
USD
EUR
EUR
EUR
EUR
(+/-)
1999
20.3
10.5
3.5
0.5
33.6
1998
16.2
9.4
2.1
0.4
26.5
27%
In 1999, consolidated sales rose 27% to
Euro 33.6 billion. Net earnings increased
by 37% to Euro 752.1 million. After deduc
tion of the preferred dividend, earnings
per common share rose 25% to Euro 1.15.
Sales and earnings benefited from the
higher average exchange rate of the US
dollar (Euro 0.94 in 1999 vs Euro 0.90
in 1998). Sales would have risen 25%
and net earnings by 33% at a constant
dollar rate. Earnings per share, excluding
currency fluctuations, rose 22%.
United States
Europe
Latin America
Asia
1999
1998
United States
USD
1,001.1
713.5
40%
Europe
EUR
459.1
402.2
14%
Latin America
EUR
96.7
62.8
54%
Asia
EUR
(40.8)
(46.9)
(13%)
Corporate costs
EUR
(44.1)
(40.0)
10%
Total
EUR
1,414.7
1,017.3
39%
(+/-)
26%
11%
65%
16%
In 1999, the balance sheet and net
earnings were impacted by acquisitions
and divestments.
Acquisitions
In Spain, a number of supermarket
companies were acquired: in January,
Dialco in Seville and Dumaya in Malaga;
in February, Castillo del Barrio in
Malaga and Guerrero in Granada; and
in September, Mercasol and Las Postas
in Marbella.
In Argentina, three supermarket companies
were acquired: in May, Supamer and
Gonzalez; and in October, Pinocho.
In Poland, the Centrum supermarket
company was acquired in May.
In Brazil, Bomprego acquired the
Petiprego supermarket chain in the
province of Bahia in May.
In The Netherlands, Ahold Institutional
Food Supply (GVA) acquired the
Gastronoom food service company.
In Guatemala, the new joint venture
Paiz Ahold acquired a 80% state in
food retailer La Fragua in December.
The company was consolidated in the
balance sheet as at 1999 year-end.
All transactions were consolidated as
of the acquisition date.
Divestments
In Asia, the supermarket companies in
Shanghai and Singapore were divested
in October.
Royal Ahold Annual Report 1999
