Ahold Delhaize reported solid growth in the first quarter of 2025, with net sales of €23,3 billion, up 5% at constant exchange rates and 7,1% at actual exchange rates. The group reiterated its full-year guidance, targeting an operating margin of around 4%, mid- to high-single-digit earnings per share growth, and free cash flow of at least €2,2 billion.
In an environment marked by geopolitical and economic uncertainties, Ahold Delhaize invested in competitive pricing, own-brand assortments and omnichannel infrastructure. Comparable sales excluding gasoline rose 3,3%: +3,1% in the United States and +3,7% in Europe. Online sales increased 13,7% at constant exchange rates, driven by online spending and bonds.
The underlying operating margin was 3,8%, down 0,2 percentage points. In the US, the impact of promotional initiatives was offset by growth in Europe, where the integration of Profi supported performance. In particular, Albert Heijn expanded the offering of the AH Terra brand, while Mega Image launched personalized discounts.
IFRS operating profit was €880 million and diluted earnings per share were €0,60. Despite ceasing tobacco sales in the Netherlands and Belgium and closing some Stop & Shop stores, the company continues to gain market share.
CEO Frans Muller highlighted the key role of brands in building consumer confidence in challenging times and Ahold Delhaize’s commitment to a healthier and more sustainable food system. The company aims to reach 50% plant-based sales in Europe by 2030.
