Ahold Delhaize lifts Q4 profit, sets 2026 outlook

Food retailer Ahold Delhaize reported stronger Q4 net and double-digit online growth, portion outlining concern plans and fiscal guidance for 2026.

Net income for the 4th reached €23.49bn ($27.88bn), rising 6.1% astatine changeless speech rates and 0.9% astatine existent speech rates.

Operating income totalled €899m, oregon 3.8% of nett sales, and was €96m beneath underlying operating income owed chiefly to impairment charges linked to a displacement towards a store-first omnichannel fulfilment web successful the US.

Net income accrued to $577m from $380m a twelvemonth earlier.

Growth was supported by the acquisition of Profi, which added 3.2 percent points astatine changeless speech rates, comparable income maturation excluding gasoline of 2.5%, and store openings.

The extremity of baccy income successful Belgium reduced changeless currency maturation by 0.2 percent points.

Comparable income excluding gasoline roseate 2.7% successful the US and 2.4% successful Europe.

In the US, upwind reduced comparable income by astir 0.2 percent points portion baccy cessation and calendar effects successful Europe reduced maturation by 0.5 percent points.

Online income precocious 12.9% astatine changeless speech rates and 9.1% astatine existent rates, driven by 22.8% maturation successful the US.

Underlying operating borderline edged up 0.1 percent points to 4.2% astatine changeless speech rates.

Diluted EPS was €0.65, portion diluted underlying EPS roseate 6.1% to €0.73.

In the US, Q4 nett income were €13.04bn, up 2.5% astatine changeless speech rates but down 6.0% astatine existent speech rates.

In Europe, Q4 nett income accrued 10.9% astatine changeless speech rates and 11.1% astatine existent speech rates to €10.45bn, supported by the Profi acquisition, comparable income maturation and store openings.

For 2025, nett income were €92.35bn and the underlying operating borderline was 4%.

Net income accrued to $2.26bn from $1.76bn successful the aforesaid play a twelvemonth earlier.

Online income grew 13.3% astatine changeless rates, with the radical reaching e-commerce profitability connected a afloat allocated basis.

Free currency travel was €2.60bn, supra guidance of astatine slightest €2.2bn. A currency dividend of €1.24 has been proposed, up 6%.

For 2026, including a 53rd week, the radical expects an underlying operating borderline of astir 4%, mid- to high-single-digit maturation successful diluted underlying EPS astatine changeless speech rates, escaped currency travel of astatine slightest €2.3bn and gross currency superior expenditure of astir €2.7bn.

The further week is expected to adhd 1.5%-2% to nett income and 2%-3% to underlying income from continuing operations.

The acquisition of Delfood, completed connected 2 February 2026, is expected to lend much than €200m successful European nett sales.