Frans Muller President and CEO of Delhaize Group 1
• Pierre-Olivier Beckers • Didier Smits 2
New Directors • Dominique Leroy • Patrick De Maeseneire 3
Delhaize America CEO • Kevin Holt 4
Thanks to our colleagues around the Group 5
Serving more than 20 million customers every week 6
Our new Strategic Framework 7
Principles help us make decisions 8
Promises we make to our stakeholders 9
Our Values remain consistent We commit to perform, even if barriers stand in our way and we know we can count on each other to achieve our goals together. We’re accountable and we deliver. We are authentic. We are honest with ourselves and with others. We are fair and principled towards our colleagues, our suppliers, our customers, and our communities. We stick to our word. We do things the right way, every day. Courage is required to take the road less traveled. We dare to challenge ourselves, each other, and our competitors. We are commercially aggressive. The humble person is inspired to teach, to learn from others, and to be alert to external developments. We always look for ways to serve others and respect the role each of us plays in delivering on our commitments. Humor helps to put things in perspective and enables us to appreciate both our successes and our setbacks. Humor keeps us from taking ourselves too seriously. Humor makes work enjoyable while sparking creativity and innovation. Humor makes us different. 10
2014 Sustainability Report 11
Our 2015 priorities • Put the customer back at the center • Focus on core markets • Realize more operating efficiencies • Act decisively and with speed 12
Financial results – Q1 2015 Q1 % Growth ( € in Millions) 2015 2014 Actual Rates Identical Rates 5,025 5,820 15.8% 2.2% Revenues 166 173 4.4% (11.2%) Underlying Operating Profit / Margin 3.3% 3.0% (33 bps) (43 bps) 80 28 (64.9%) (79.8%) Group share in Net Profit 46 (107) N/A N/A Operating Free Cash Flow 305 339 11.2% (3.5%) Underlying EBITDA 13
Q1 2015 highlights by region – U.S. • 2.5% comparable store sales growth driven by both Food Lion and Hannaford despite a meaningful reduction in inflation • 10 th consecutive quarter of positive real growth at Food Lion • 76 Easy, Fresh & Affordable stores performing as expected • On track to roll out additional 160 Easy, Fresh & Affordable stores this year in Raleigh, North Carolina 14
Q1 2015 highlights by region – Belgium • Comparable store sales decreased by 2.8% • Market share declined by 87 bps although trend gradually improving • On track with execution of Transformation Plan • Revenue growth and profitability expected to improve in H2 15
Q1 2015 highlights by region – SEE (1) and Indonesia • Comparable store sales decreased by 0.8% • However, both CSS and real growth have improved for all SEE countries • All SEE countries continued to gain market share • Posted positive CSS growth, in Serbia supported by 21 successful fully remodelled Maxi stores • In Indonesia we delivered strong comparable store sales growth 16 (1) SEE is Greece, Serbia, and Romania
2015 outlook • Two important strategic initiatives underway • Food Lion « Easy, Fresh and Affordable » strategy • Transformation Plan in Belgium • U.S. • Focused on maintaining sales momentum and profitability at both Food Lion and Hannaford • Belgium • Expect positive market share and CSS evolution in H2 in Belgium, with gradual improvement in profitability • SEE • Greece and Romania continue expansion, sales improvement in Serbia coupled with good profitability level • Healthy Free Cash Flow generation • Cash capex of approximately € 700 million (1) (1) At identical exchange rates ( € 1 = $1.3285) 17
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