Koninklijke Ahold Delhaize N.v. · EURONEXT:AD
Koninklijke Ahold Delhaize — Shareholder Meeting (April 2015)
61 slides from Koninklijke Ahold Delhaize's shareholder meeting presentation, Apr 15, 2015
Slide 1: Algemene Vergadering van Aandeelhouders 2015
15 APRIL 2015 Algemene Vergadering van Aandeelhouders 2015
Slide 2: Agendapunt 1 / Agenda item 1: Opening
Agendapunt 1 / Agenda item 1 • Opening
Slide 3: Ahold in 2014
Ahold in 2014 Dick Boer CEO
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Slide 5: Change is in our DNA
Change is in our DNA 1895 1930-60s 2000’s Today Customer assistance Self service Loyalty programs, Serving customers Dry groceries Fresh groceries XL, convenience, Anyhow, Few corner stores National coverage stores (NL) general merchandise, Anytime, In-store packaging Production companies & DC’s org
Slide 6: Reshaping Retail framework
Reshaping Retail framework We ha bust busi | we are keeping built on strong local brands. our promises... Ahold is becomin Creating gram geith a better place to shop, PS “Ng, a better place to work, ws Enabling growth: Better place to shop Better every day Better place to work ice. Better value. Bet
Slide 7: Highlights 2014
Highlights 2014 Financial Investments in growth Dividends, share buyback • FY sales +0.8% at constant • Investments in omni-channel: • €2.7 billion returned to shareholders currencies; Q4 sales +2.6% • Albert Heijn Online introduced in Belgium • Proposed dividend increase of 2.1% • Improving sales t
Slide 8: Our promises
Our promises Better place to shop Better every day Better Better place to work neighbor & Ahold
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9
Slide 10: Omni-channel: Offering customers their channel of choice
Omni-channel: Offering customers their channel of choice Compact Specialty Pick-up Online non- Supermarkets Online food Convenience Gasoline hypers stores points food delivery delivery stores stations
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Slide 13: AH XL Eindhoven
AH XL Eindhoven & Ahold
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Slide 17: Vždy čerstvé
vZy GERSTVE PECIVO
Slide 18: Biologisch
Biologisch voukoren Beschuit Biologi a aes cet Biologische meen faa A paneerMeeL LOSISCHES PANIERMEHL
Slide 19: Better place to shop
Better place to shop Better every day Better Better place to work neighbor & Ahold
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20
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Slide 22: Better every day
Better place to shop Better every day Better Better place to work neighbor & Ahold
Slide 23: Better neighbor
F ROUD TO Sup OUR LOCAL FARMPs HP spinach, GREEN? Be 2 RENE Better neighbor e@ Healthy living choices made easy @ Contribution to community well-being e@ Responsibly sourced products @ Care for the environment
Slide 24: Responsible Retailing Report 2014
Responsible 24 Retailing Report 2014
Slide 25: Reshaping Retail framework
Reshaping Retail framework We ha bust busi | we are keeping built on strong local brands. our promises... Ahold is becomin Creating gram geith a better place to shop, PS “Ng, a better place to work, ws Enabling growth: Better place to shop Better every day Better place to work ice. Better value. Bet
Slide 26: Looking ahead
Looking ahead • Our business wheel is still core to our strategy • We are investing in price, price perception, customer experience in our stores • We continue to invest in future growth with our omni-channel strategy: more customers, more places, more choices • Maintain a strong balance sheet and c
Slide 27: Thank you
Thank you
Slide 28: we StopsShop’
we StopsShop’ ev = sciz> ums (Ahold aver Peaped bol.com® w Giant & Ahold
Slide 29: Financial review
Financial review Jeff Carr CFO
Slide 30: Operating performance
Operating performance (in millions of euros) Full year • Strong Q4 sales driven by improved identical sales in 2014 2013 Change Change* the U.S. and the Netherlands Sales 32,774 32,615 0.5% 0.8% • Strong online sales growth reaching € 1.4 billion Gross profit margin 26.5% 26.6% (0.1) (0.1) consumer
Slide 31: Underlying operating income by segment
Underlying operating income by segment (in millions) Ahold USA The Netherlands Czech Republic • Investments in the customer proposition resulted in lower 2014 Change 2014 Change 2014 Change* margins in the U.S. with Sales $25,976 (0.5%) €11,696 1.8% €1,521 11.7% improved sales trends through the yea
Slide 32: Simplicity cost and efficiency improvement program
Simplicity cost and efficiency improvement program Functional split 2014 (in %) All our businesses have successful cost and efficiency 26 improvement programs underway Commercial improvements Delivered €385 million in 2014: Overhead reduction 10 64 • Commercial improvements Operational efficiencies
Slide 33: Adjusted net income
Adjusted net income (in millions of euros) Full year 2014 2013 Change Underlying operating income 1,267 1,379 (8.1%) Operating income 1,250 1,239 0.9% Net financial expenses (235) (291) 19.2% Income taxes (248) (153) 62.1% Share in income (loss) of joint ventures 24 10 140.0% Income from continuing
Slide 34: Dividend
Dividend Dividend 2014 • €0.48 per common share Timetable • April 17, 2015 Ex-dividend date • April 20, 2015 Dividend record date • April 30, 2015 Payment date
Slide 35: Free cash flow
Free cash flow (in millions of euros) • Continued strong free cash flow of €1.1 billion in 2014 1,109 • Expected cash flow for 2015 broadly 1,029 1,051 1,055 in line with 2014 845 • The € / USD rate in 2014 was 1.33: Sensitivity of $0.10 decrease results in €53 million additional free cash flow 2010
Slide 36: Uses of cash
Uses of cash (in millions of euros) Continuous balanced investments Attractive shareholder returns 929 3.000 0,6 846 807 830 732 2.500 0.48 0,5 701 2.000 1,008 0,4 0.29 1.500 414 0,3 1.000 328 457 0,2 159 190 500 1,232 395 0,1 837 415 768 30 9 400 0 277 0 2010 2011 2012 2013 2014 2011 2012 2013 2014
Slide 37: Capital structure
Capital structure (in billions of euros) Further reduction of excess liquidity Lease adjusted leverage close to target 4,0 2,8 • €1 billion capital repayment and €2 billion 2,6 1,9 1,9 share buyback program completed during -0,9 2014 1.3 • Cash balances* down €2.1 billion to 0,7 €1.9 billion 1,1 1,4
Slide 38: Financial strategy
Financial strategy Balanced investment in growth and return excess cash Return on capital Cash Top quartile of the sector generation Capital structure guidelines • Net lease-adjusted debt to EBITDAR around 2x Earnings RoCE • Liquidity around €2 billion growth • Committed to investment grade credit r
Slide 39: Summary 2014 & Outlook 2015
Summary 2014 & Outlook 2015 • Sales growth in 2014 of 0.8% at constant exchange rates, with improved sales trends through the year • Simplicity cost and efficiency improvement program delivered €865 million for 2012-2014 • Continued strong free cash flow in 2014 of €1.1 billion • Proposed dividend i
Slide 40: Thank you
Sinds 1207 = a = =
Slide 41: Beloningsbeleid Raad van Bestuur
Belonings beleid Raad van Bestuur Rob van den Bergh
Slide 42: Evaluatie Beloningsbeleid
Evaluatie Beloningsbeleid Doel en link met strategie Beleid Met het basis salaris heeft Ahold tot doel RvB leden met Het basis salaris wordt jaarlijks geëvalueerd en specifieke vaardigheden en ervaring, nodig voor de vergeleken met de salarissen betaald door bedrijven in Basis salaris implementatie
Slide 43: Cautionary notice
Cautionary notice This presentation includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events t
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Slide 45: Stem procedure / Voting procedure
Stem procedure / Voting procedure • Om te stemmen, druk 1, 2 of 3 • Register your vote by pressing 1, 2 or 3 1 = voor / for 2 = tegen / against 3 = onthouding / abstention • Correctie / Correction • Maak opnieuw uw keuze. Uw laatste keuze geldt. • Make your choice again. Your last choice will be reg
Slide 46: Agendapunt 5 / Agenda item 5
Agendapunt 5 / Agenda item 5 • Voorstel tot vaststelling van de jaarrekening over het boekjaar 2014 • Proposal to adopt 2014 financial statements
Slide 47: Agendapunt 6 / Agenda item 6
Agendapunt 6 / Agenda item 6 • Voorstel tot vaststelling dividend over het boekjaar 2014 • Proposal to determine the dividend over financial year 2014
Slide 48: Agendapunt 7 / Agenda item 7
Agendapunt 7 / Agenda item 7 • Voorstel tot het verlenen van décharge aan de leden van de Raad van Bestuur • Proposal for discharge of liability of the members of the Management Board
Slide 49: Agendapunt 8 / Agenda item 8
Agendapunt 8 / Agenda item 8 • Voorstel tot het verlenen van décharge aan de leden van de Raad van Commissarissen • Proposal for discharge of liability of the members of the Supervisory Board
Slide 50: Agendapunt 9 / Agenda item 9
Agendapunt 9 / Agenda item 9 • Samenstelling van de Raad van Bestuur • Voorstel tot benoeming van de heer A.D. Boer tot lid van de Raad van Bestuur voor een nieuwe termijn met ingang van 15 april 2015 • Composition of the Management Board • Proposal to appoint Mr. A.D. Boer as a member of the Manage
Slide 51: Agendapunt 10 / Agenda item 10
Agendapunt 10 / Agenda item 10 • Samenstelling van de Raad van Commissarissen • Voorstel tot benoeming van de heer R.F. van den Bergh tot lid van de Raad van Commissarissen voor een nieuwe termijn met ingang van 15 april 2015 • Composition of the Supervisory Board • Proposal to appoint Mr. R.F. van
Slide 52: Agendapunt 11 / Agenda item 11
Agendapunt 11 / Agenda item 11 • Voorstel tot wijziging van het bezoldigingsbeleid Raad van Bestuur • Proposal to amend the remuneration policy Management Board
Slide 53: Agendapunt 12 / Agenda item 12
Agendapunt 12 / Agenda item 12 • Voorstel tot wijziging van de statuten a. Voorstel tot wijziging van de statuten om het maatschappelijk kapitaal van de Vennootschap te verminderen • Proposals to amend the Articles of Association a. Proposal to amend the Articles of Association to reduce the authori
Slide 54: Agendapunt 13 / Agenda item 13
Agendapunt 13 / Agenda item 13 • Benoeming Accountant • Voorstel tot benoeming van PricewaterhouseCoopers Accountants N.V. als externe accountant van de Vennootschap voor het boekjaar 2015. • Appointment Auditor • Proposal to appoint PricewaterhouseCoopers Accountants N.V. as external auditor of the
Slide 55: Agendapunt 14 / Agenda item 14
Agendapunt 14/ Agenda item 14 • Aanwijzing tot uitgifte van aandelen • Authorization to issue shares
Slide 56: Agendapunt 15 / Agenda item 15
Agendapunt 15/ Agenda item 15 • Aanwijzing tot het beperken of uitsluiten van voorkeursrechten • Authorization to restrict or exclude pre-emptive rights
Slide 57: Agendapunt 16 / Agenda item 16
Agendapunt 16/ Agenda item 16 • Machtiging tot inkoop van eigen aandelen • Authorization to acquire shares
Slide 58: Agendapunt 17 / Agenda item 17
Agendapunt 17/ Agenda item 17 • Intrekking van gewone aandelen • Cancellation of common shares
Slide 59: Agendapunt 18 / Agenda item 18
Agendapunt 18/ Agenda item 18 • Sluiting • Closing
Slide 60: Questions & Answers
Questions & Answers
Slide 61: Thank you
Thank you
Koninklijke Ahold Delhaize — Shareholder Meeting (April 2015) on 6ix