March 25, 2019, 3:42 a.m. EDT

Ahold Delhaize backs 2019 underlying earnings view

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By Ian Walker

Koninklijke Ahold Delhaize NV (AD.AE) said Monday that it still expects underlying earnings per share for 2019 to grow by a high single-digit percentage and that new accounting rules won't impact its funding structure.

The Netherlands-based grocer added that while new accounting rules, which became effective from Jan. 1, won't change its net cash flow or the ending cash and cash equivalents amount, it will lower free cash flow by 177 million euros ($200.1 million) due to repayment of finance leases not previously included in the definition.

It added that net debt at end-2018 increases by EUR7.9 billion to EUR11 billion under the new rules.

For the year ended Dec. 31, 2018 underlying earnings per share, which strips out exceptional and other one-off items, was EUR1.60.

Write to Ian Walker at

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