Group financial review continued
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Overview
Business review Governance
Financials
Investors
Ahold Delhaize Annual Report 2016
Pro forma net sales overview adjusted for week 53 in 2015
Net sales
On a pro forma basis and adjusted for
week 53 in 2015, net sales increased by
€2,040 million, or 3.4%. at constant exchange
rates. Sales growth was driven by new store
openings, which includes the full-year impact
of the acquisition of 25 A&P stores at Ahold USA
in Q4 of 2015 and the full-year impact of the
conversion of 17 stores transferred from Jumbo
in the Netherlands during 2015. In addition,
1 For the former Ahold segments, including the operating segment within Central and Southeastern Europe, the number of
weeks included for 2016 is 52 weeks (2015: 53 weeks).
2 For the definition of comparable sales (excluding gas) see non-GAAP measures at the end of this section.
Ahold Delhaize saw an increase of €1,177 million
in comparable sales. This was driven by sales
growth at our online businesses, strong growth
reported in the Central and Southeastern
Europe (CSE) segment, and Delhaize America
and Albert Heijn’s sales momentum, with
an increased number of transactions and a
higher average purchase amount per visit
in the Netherlands. Our brands in the United
States grew comparable sales despite the
deflationary environment.
Operating income
On a pro forma basis, operating income
in 2016 increased by €75 million, or 3.9%, to
€1,974 million compared to €1,899 million in 2015.
The changes in pro forma profit and expenses
are summarized in the segment reviews below.
Underlying operating income and underlying
operating income margin
On a pro forma basis, underlying operating
income was €2,298 million, up €143 million,
or 6.6%. At constant exchange rates, pro
forma underlying operating income was up
6.3%. The increase was driven by improved
profitability at our operations in The
Netherlands, Belgium and CSE.
1 Excluding gasoline sales, pro forma 2016 net sales increased 3.7%, at constant exchange rates and adjusted for week 53
in 2015.
Underlying operating income excludes
impairments, gains (losses) on the sale of
assets, restructuring and related charges and
other items that management believes can
distort an understanding of the trend related
to the development of its underlying business.
Pro forma impairments, gains (losses) on the
sale of assets and restructuring and related
charges are summarized in the segment
reviews below.
8.0%
2.4%
8.1%
2.1%
5.5%
2.0%
5.7%
2.3%
0.9%
2.3%
3.1%
1.7%
0.5%
1.9%
3.1%
1.7%
0.0%
2.1%
4.1%
1.7%
0.7%
2.1%
4.1%
1.7%
5,557
62,331
20151
25,654
16,828
5,146
60,881
23,106
15,146
12,624
4,859
change
1.9%
growth2
0.0%
2.1%
20161
25,790
17,156
23,316
15,501
13,015
4,942
change Comparable Comparable
constant sales sales growth
rates growth2 ex gas2
1.9% 2.1% 2.1%
million
Ahold USA
Delhaize America
million
Ahold USA
Delhaize America
The Netherlands
Belgium
Central and
Southeastern Europe
Total
million
Ahold USA
Delhaize America
The Netherlands
Belgium
Central and Southeastern Europe
Total1
2015
(52 weeks)
22,654
15,146
12,362
4,859
5,115
60,136
2016
(52 weeks)
23,316
15,501
13,015
4,942
5,557
62,331
change
2.9%
2.3%
5.3%
1.7%
8.6%
3.7%
change
at constant
exchange rates
25g-
1.9%
5.3%
1.7%
8.8%
3.4%
55
