Share article:
Share article:

Delhaize: net profit down by more than 50% in 2014

©Belga
©Belga

Delhaize ended 2014 with a net profit, for the group, of 89 million euros. This is a 50.3% fall in real exchange rates compared to the year before. Its turnover fell by 3.5% in Belgium, and as much as 6.9% for the 4th trimester. It went up by 4% in the United States, the group announced on Thursday. For the whole of 2014, Delhaize’s income hit 21,4 billion euros, an increase of 3.7% in real exchange rates. Meanwhile, its operating profit went from 537 to 423 million euros. “This fall is mainly due to reorganisation in Belgium 137 million, partially compensated by small value losses in Serbia”, explains the group. Its EBITDA fell by 10.6% to 1,2 billion euros. It achieved a net profit for continuing operations of 189 million euros, which is down from the 272 million euros the year before.

Delhaize Belgium saw its income fall by 3% to 4,9 billion euros, and their part of the market fell by 24.7%. Its underlying earnings plunged by 39.9%, to 118 million euros. The underlying earnings margin was 2.4% (compared to 3.9% in 2013) following “less sales, a smaller gross margin and higher commercial and administrative charges”.

“We are satisfied with Delhaize America’s progress: Food Lion and Hannaford have both recorded a solid growth in income and remain profitable. In Belgium, after several difficult months, we have come to an agreement with our social partners and have started implementing the different stages of the Transformation Plan. In the South-East of Europe, the increase in market shares is encouraging despite a still difficult economic climate”, says Frans Muller, the administrative delegate of the group.

For 2015, “we will continue the increase in sales and our share of the main financial market by a better operational efficiency and continuing our investments”, he added. He said that for the next year, the group’s investments “will go up by approximately 700 million euros with identical exchange rates”.

In this context, the administrative council will offer the General Assembly of shareholders a gross dividend of 1.60 euros per share (1.20 euro net), a three percent increase compared to 2013.

(Source: Belga  

Latest news

European Council: Decisions on Covid-19 and energy and debate on other issues
At the two-days summit which ended on Friday, the European Council adopted conclusions on COVID-19, digital, energy prices, migration, trade and ...
Flanders ‘water bomb’ could cause €2 billion in damages and affect thousands
The next "water bomb" or heavy rainfall over Flanders could cause damages estimated at around €2 billion, and could affect up to 100,000 people in ...
Pfizer Covid-19 vaccine 90% effective in 5 to 11-year-olds
The Pfizer-BioNTech vaccine is 90.7% effective in preventing symptomatic forms of the coronavirus in children aged five to 11, Pfizer announced on ...
Belgian airport named best for cargo in Europe
Brussels Airport has been named the best airport in Europe in a 2021 roundup of the best cargo airports across the world. The Asian Freight, ...
NASA plans first return mission to Moon in February 2022
The United States space agency, NASA, has announced that it will be aiming to launch its first, uncrewed mission to the moon, Artemis 1, in February ...
New, reportedly more contagious Delta mutation being monitored
A new mutation of the Delta variant of the coronavirus, which is reported to be more contagious, is being monitored by health authorities in the ...
Angèle releases new single: ‘Bruxelles je t’aime’
Belgian singer Angèle has unveiled her latest song ahead of the release of her new album, due later this year. 'Bruxelles je t'aime' (Brussels I ...
23 million chickens and 1.7 million pigs: Climate experts call for livestock cut
Flander's livestock needs to be drastically cut to save the climate and reach the emission reduction targets, according to the latest advice from the ...
Vaccination uptake surges in Wallonia following CST announcement
The number of people getting vaccinated against the coronavirus increased fourfold in Wallonia after it was announced that the Covid Safe Ticket ...
Guilty by association
BRUSSELS BEHIND THE SCENES Weekly analysis and untold stories With SAM MORGAN Other Brussels behind the scenes stories: Brussels' bid to make ...
Health minister supports use of Covid Safe Ticket in workplace
As the use of the Covid Safe Ticket (CST) has been expanded in Brussels and is set to in Wallonia, federal health minister Frank Vandenbroucke has ...
Maggots show Conings may have lived longer following disappearance
Former army soldier Jürgen Conings, whose disappearance in mid-May resulted in a month-long manhunt, may have been alive for longer than has been ...