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Ahold Delhaize reported Q1 2022 net sales of €19.8 billion, an 8.3% increase due to resilient food-at-home consumption. Comparable sales in the U.S. grew 3.3% while Europe saw a 3.1% decline. Net consumer online sales fell 1.0% but rose 4.6% excluding bol.com. The underlying operating margin was 4.2%, down from 4.6% a year earlier. Diluted EPS increased 1.3% to €0.55. The company now anticipates underlying EPS to match 2021 levels, thanks to higher Q1 earnings and favorable U.S. dollar conditions. Full-year outlook remains unchanged with a 4% operating margin and €1.7 billion free cash flow expected.
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Ahold Delhaize has announced that bol.com has become a majority shareholder of Cycloon, following approval from the Dutch Authority for Consumers and Markets. This strategic partnership aims to enhance sustainable delivery services, with the first joint delivery expected in the second half of 2022. Cycloon, known for its green delivery methods, employs 600 people with barriers to employment and saves 1,600 tons of CO2 annually. Bol.com plans to fully acquire Cycloon in four years, maintaining its independent brand.
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Ahold Delhaize held its hybrid Annual General Meeting on April 13, 2022, with 81 shareholders representing approximately 650 million shares. Shareholders approved the 2021 financial statements and a total annual dividend of €0.95 per share, with €0.52 payable on April 28, 2022. The meeting also saw the reappointment of PwC as external auditor for 2022. CEO Frans Muller emphasized the company's commitment to its local communities and the importance of digital innovation for growth. CFO Natalie Knight reaffirmed the company's financial guidance for 2022.
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