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Ahold Delhaize underlying EPS decreases 0.03 euros to 1.57 euros

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Christian Fernsby |
Ahold Delhaize
Ahold Delhaize   Underlying operating margin increases by 0.3% point to 4.4%

Ahold Delhaize said IFRS 16, the new financial reporting standard for lease obligations that came into effect on January 1, 2019, will have significant implications for its balance sheet, income statement and certain key performance indicators due to the size of the company's lease portfolio.

Due to the impact of the accounting change: the company's 2018 underlying EPS decreases by 0.03 euros to 1.57 euros; underlying operating margin increases by 0.3% point to 4.4% and net debt at end-2018 increased by 7.9 billion euros to 11 billion euros.

For 2019, the company reiterated full-year 2019 group margin guidance to be in line with restated 2018 margins; and continues to expect underlying earnings per share to grow in 2019 by high single-digit percentage.

The company noted that IFRS 16 will have no economic or cash impact on the group or on the way the business is managed.

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