Ahold 2003 second quarter sales

8/8/2003, 8:14 AM (Source: GlobeNewswire)
- Consolidated 2Q 2003 sales amounted to Euro 13.0 billion, a decline of 12.4% compared to the same period last year - Sales are significantly impacted by lower currency exchange rates; sales excluding currency impact increased by 2.5% - Organic sales growth, excluding currency impact, amounted to 1.3%

Zaandam, The Netherlands, August 8, 2003 - Ahold today announced
consolidated sales (excluding VAT) for the second quarter of the year
(12 weeks through July 12, 2003) of Euro 13.0 billion, a decline of
12.4% compared to the Euro 14.8 billion generated in the 2002 second
quarter (12 weeks). In a difficult trading environment, sales
excluding currency impact increased by 2.5% and organic sales growth
excluding currency impact amounted to 1.3%. All numbers exclude sales
of joint ventures and are unaudited.

Ahold USA - retail
In the United States, retail sales increased by 1.1% to USD 6.2
billion (2002: USD 6.2 billion). Organic sales growth also amounted
to 1.1%. Comparable sales declined by 1.1% and identical sales
declined by 1.9%.

Ahold USA - foodservice
Foodservice sales in the United States increased by 0.2% to USD 4.1
billion (2002: USD 4.1 billion). Organic sales growth also amounted
to 0.2%.

Europe
In Europe (The Netherlands, Spain and Central Europe), sales rose
0.6% to Euro 3.3 billion (2002: Euro 3.2 billion). Organic sales
growth, excluding currency impact, amounted to 0.9%.

South America
In South America (Brazil, Argentina, Chile, Peru and Paraguay), sales
amounted to Euro 608.7 million (2002: Euro 503.8 million), up 20.8%
from last year partly due to the fact that Santa Isabel was not
consolidated in the second quarter of 2002. Organic sales growth,
excluding currency impact, amounted to 11.4%.

Asia
In Asia (Thailand, Malaysia, Indonesia), sales declined 15.2% to Euro
92.9 million (2002: Euro 109.6 million). Organic sales growth,
excluding currency impact, amounted to 2.5%.

Accounting for joint ventures
As Ahold announced on May 16, 2003, all current and previous joint
ventures are being accounted for using equity accounting. As a
consequence, the income from these joint ventures will be accounted
for as income from unconsolidated subsidiaries. Previously, these
joint ventures were fully consolidated in Ahold's financial
statements with the minority share in earnings and equity then
deducted.

This change applies to ICA Ahold in Scandinavia and Jerónimo Martins
Retail in Portugal for 2003 and 2002 and for Disco in Argentina up to
and including the first quarter of 2002 and for Santa Isabel in
Chile, Peru and Paraguay up to and including the first and second
quarter of 2002.

Historical financial statements have also been restated to reflect
this change for the above-mentioned joint ventures, as well as for
Bompreço in Brazil (up to and including the second quarter of 2000)
and Paiz Ahold in Central America.

Set forth below are the sales figures for fiscal years 2002 and 2001
restated to account for Ahold's joint ventures on an equity basis.
These figures are unaudited.

Definitions
* Organic sales development:
[Sales year n] divided by [Sales year (n-1)(i) Ahold base + sales
year (n-1)(i) of acquired companies(ii)]
(i) Adjusted for currency impact.
(ii) Applies to acquisitions dating back less than one year and to
the extent that the sales of the acquired company represent > 5% of
the sales of the acquiring entity, or that the acquisition is an
entry into a new business channel or market area.
* Identical sales compare sales from exactly the same stores.
* Comparable sales are identical sales plus sales from replacement
stores.
* Currency impact: the impact of using different exchange rates to
translate the financial figures of our subsidiaries to Euros. The
financial figures of the previous year are restated using the
actual exchange rates in order to eliminate this currency impact.

Please open the attachment for the full press release including
tables.
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Ahold Corporate Communications: +31 75 659 5720

Editors' note
The company will host a conference call on Friday, August 8, 2003 at
10:00 a.m. CET.
Dial-in number: +44 (0) 20 7784 1018. This conference call can also
be followed through the Ahold website (www.ahold.com) and via these
replay numbers:

Europe: +44 (0) 20 7784 1024
USA: +1 (719) 457 0820
Passcode: 746062

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Certain statements in this press release are "forward-looking
statements" within the meaning of U.S. federal securities laws. Ahold
intends that these statements be covered by the safe harbors created
under these laws. These forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual
results to differ materially from future results expressed or implied
by the forward-looking statements. There are important factors that
could cause actual results to differ materially from the information
set forth in these forward-looking statements. Many of these factors
are beyond Ahold's ability to control or predict. Given these
uncertainties, readers are cautioned not to place undue reliance on
the forward-looking statements, which only speak as of the date of
this press release. Ahold does not undertake any obligation to
release publicly any revisions to these forward-looking statements to
reflect events or circumstances after the date of this press release
or to reflect the occurrence of unanticipated events, except as may
be required under applicable securities laws.

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