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Ahold Delhaize delays Bol.com IPO

Dutch supermarket group Ahold Delhaize has postponed its planned sub-IPO for online retailer Bol.com due to unfavourable market conditions. In a statement, the company said it… View Article

FOOD AND DRINK NEWS UK

Ahold Delhaize delays Bol.com IPO

Dutch supermarket group Ahold Delhaize has postponed its planned sub-IPO for online retailer Bol.com due to unfavourable market conditions.

In a statement, the company said it had decided that the second half of 2022 was no longer the right time for the move but will revisit its plans when market conditions are more conducive.

Frans Muller, president and chief executive of Ahold Delhaize, said: “We remain committed to securing the right future path to unlock value for Bol.com and Ahold Delhaize.

“As such, our immediate priority is to ensure that Bol.com continues to leverage its leadership position and execute its strategic growth agenda with a strong return on capital.”

The company has also announced that group net sales increased by 6.4% at constant exchange rates to €21.4 billion in its second quarter. At actual exchange rates, net sales were up 15%.

Meanwhile net income grew to €603 million in the period from €540 million a year earlier.

Muller said: “I am pleased to report we had a strong second quarter. Our overall results confirm the strength and breadth of our brand portfolio. Our brands’ unparalleled understanding of customers, broad assortments and product offerings as well as the stickiness of food-at-home consumption are giving us the opportunity to play to our strengths and support customers in a challenging environment.”

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