Delhaize has released its results for 2013, with group revenue climbing but underlying profit taking a hit.
The Belgian retailer said that revenue had increased 2.6 per cent at identical exchange rates, with organic revenue growth of 3.1 per cent.
However, underlying profit dropped 4.2 per cent to €753m, falling 2.1 per cent at identical exchange rates to €769m.
“Since joining as CEO in November 2013, I have gained a thorough understanding of our group, of the different markets in which we operate and of our banners,' said Frans Muller, CEO of Delhaize Group. Our group has strong foundations, with leadership positions in nearly all our markets, a solid balance sheet, and passionate associates. Since the beginning of the year, we continue to have positive momentum at Delhaize America while facing challenges in Belgium and Serbia.
“In 2014, we will further differentiate our offer and support our core banners by focusing on maintaining or strengthening our local leadership positions,' he added. We will pursue operational efficiencies and exercise continued capital discipline in order to fund this.
“For the current year, our capital expenditures will increase to approximately €625 million and we plan to open 180 stores. We intend to maintain or improve sales growth and continue to generate a healthy level of free cash flow.”
Meanwhile, Marc Croonen has been appointed as chief human resources officer and a member of the executive committee, while Dirk Van den Berghe has been appointed as member of the executive committee in combination with his role as CEO of Delhaize Belgium & Luxembourg.
No comments yet