Group highlights

Net sales


20181: €62.8 billion
+5.5% (+2.3% at constant rates)

Underlying operating income


2018: €2.8 billion
+0.6% (-2.6% at constant rates)

Underlying operating margin


2018: 4.4%
-0.2% pt

Net income


20181: €1,780 million
-0.8% (-3.8% at constant rates)

Net consumer online sales


20181: €3.5 billion
+30.1% (+28.6% at constant rates)

Free cash flow3


20181: €2.2 billion

Underlying income per share 
from continuing operations


20181: €1.57

Dividend per common share


20181: €0.70

Own-brand food sales from healthy products


2018: 47%
+1% pt

Associate engagement score


2018: 79%
Industry benchmark: 80%

Dow Jones Sustainability Index


2018: 72
-3 (Industry average: 36)

Reduction in carbon-equivalent emissions


2019: 435kg/m2
2018: 456kg/m2

  1. 2018 figures have been restated for the change in accounting policies (IFRS 16 Leases). See Note 36 to the consolidated financial statements for more details.
  2. The 2016 figures presented in the graphs are pro forma figures. To read more about the 2016 pro forma figures, see our Annual Report 2016.
  3. In 2019, after €2.2 billion cash capital expenditure (2018: after €1.8 billion capital expenditure).

Q&A with Frans Muller

Read the Q&A here.

"2019 was our first full calendar year implementing our Leading Together strategy and our growth drivers. These growth drivers have helped us to further strengthen our leading positions across the company. Our local brands remained closely knit to their communities, working hand-in-hand with local suppliers, being good employers for our 380 thousand people."

Frans Muller President and CEO

Our purpose

Eat well. Save time. Live better. Our purpose helps us answer the question: what difference are we going to make? Millions of customers around the world turn to our great local brands for their daily needs – and our brands are well-positioned to make a positive difference in their well-being. People’s wants and needs are diverse, but our purpose encompasses the three things we believe they all deserve, and that we can have an impact on.

Eat well.
Not only do we want to make it easy for people to choose a healthy, balanced diet, but also have access to products that are high quality, responsibly sourced – and of course, delicious!

Save time.
People are busy. And in this hectic world, anything we can do to make things quicker, smoother and easier is a good thing.

Live better.
For some, this means healthy eating. For others, shopping more inexpensively or more ethically. Whatever it means to our customers, associates and communities, we’re committed to helping make it happen.



Our growth drivers

To help us fulfill our purpose today and prepare our business for tomorrow, we have intensified our focus and attention on the following growth areas across all our great local brands.

Omnichannel growth

Omnichannel growth

Making it possible for our customers to shop however and whenever is most convenient.

To keep winning in our markets, both today and in the future, we want to be the most trusted partner in connecting customers with the myriad of options available to them. We are working to provide the leading consumer experience across all phases of the customer journey: from planning to shopping to enjoying great food. This means having a seamless omnichannel offering – a unified shopping experience across all our online and offline channels.

We are driving omnichannel growth across all our local brands in three key focus areas: enhancing our stores, strengthening eCommerce and expanding meal solutions.



Partnering to invest in the technology of the future and deploy it across our company today, to improve the customer experience and increase efficiency.

We believe technology can help people live better – and we are leveraging it for the benefit of our customers and our business. We are using technology to enrich the shopping experience – to anticipate customers’ needs so that we can make shopping seamless and easy. It is helping us increase the efficiency of our business, by modernizing our back office and delivering new digital solutions to transform how we can serve our customers and better utilize our eCommerce scale. And we are working to expand our capabilities and build a strong ecosystem of digital and tech-focused partners, because we know that getting this right will be critical for our future.

Healthy and Sustainable

Healthy and sustainable

Inspiring customers to make healthier choices, increase product transparency and eliminate waste.

Our world is facing enormous challenges. Climate change is changing what and how we can feed ourselves – at a time when our global population is growing. Health issues, including disease and obesity, are affecting billions of people. And every year, around one-third of all food produced for human consumption is lost or wasted.

Our new Healthy and Sustainable Strategy looks towards 2025, building on the success and targets we set for 2020. This time, we have defined longer-term targets and will accelerate change across our great local brands. Our ambition for 2025 is to inspire our customers to make healthier choices, increase product transparency, and eliminate waste. We believe these are the areas where we can make the most difference.

Portfolio and scale efficiencies

Portfolio and scale efficiencies

Having both the ambition and the opportunity to grow our business in a fragmented retail market while scaling our efficiencies to partially self-fund our growth.

We operate a portfolio of strong brands and want to be the consolidator of choice in our markets. Our ambition and the opportunity we have to grow in the fragmented retail market is supported by our strong and predictable cash flow, successful merger integration and synergy delivery, efficient platforms for growth and strong omnichannel proposition.

We will continue to evolve our portfolio of great local brands that are #1 and #2 in their markets. And we will keep working to be as efficient as possible. Through our Save for Our Customers program, we are constantly on the lookout for new ways to save money to reinvest in our business.

Best talent

Best talent

Staying in the lead by attracting, developing and retaining the best talent, with new capabilities.

We are creating the future of work by building a workforce that can support our omnichannel and digital ambitions. We are pivoting our culture, by embedding our new purpose deeply within the organization and amping up the focus we place on our values of courage, care and teamwork. We are transforming our capabilities, building a digital and data mindset and reskilling our workforce for the future. And finally, we are cultivating our talent so that we have the right people and leaders for the future, by building robust, diverse talent pipelines putting a much stronger focus on diversity and inclusion.

Creating value for our stakeholders

As a global company, we have a large variety of stakeholders. But the four primary groups Ahold Delhaize impacts are our customers, associates, communities and shareholders. We promise all our stakeholders that we'll strive to be a better place to shop, a better place to work and a better neighbor, every day.



Our business is built on our relationships with our customers.

We help them eat well, save time and live better by enhancing the whole customer journey – from when they plan their shopping, to the shopping experience itself and even afterwards, when they enjoy our products at home or on-the-go.


monthly active mobile app users


own-brand food sales from healthy products


net sales generated from customers enrolled in our loyalty programs in 2019



Our associates are at the center of our relationships with customers and communities.

They bring our Leading Together strategy to life every day, working together to serve customers across our stores, warehouses and support offices. And they are the reason we have deep connections in our local communities.


score on Inclusive Workplace from our associate engagement survey


of the workforce is female

4-6 weeks

amount of fully paid parental leave benefits now available to full-time associates of Ahold Delhaize USA brands



Our brands are closely connected to their communities, playing a role in the lives of millions of people every day.

Many of our stores are places where neighbors come together not only to shop, but to have a chat, grab a coffee or even share a meal. We feel a deep sense of responsibility for helping people live better in the communities we serve.


tonnes of food donated to food banks


of own-brand plastic packaging we commit to make reusable, recyclable or compostable by 2025


meals Food Lion committed to donate to neighbors in need by the end of 2025



We strongly believe that by serving customers, associates and communities well, our businesses will prosper and our shareholders will benefit.

We strive to live up to the trust our shareholders put in us through open and transparent communications about our performance and our plans.


underlying income per share from continuing operations


share buyback program


growth to proposed dividend per common share (2019: €0.76)

Read more on how we create value for our stakeholders