Ahold Delhaize publishes pro forma key historical data following the merger
October 06 2016 - 1:59AM
Zaandam, the Netherlands,
October 6, 2016 - Ahold Delhaize today published pro forma
combined financial information following the merger between Ahold
and Delhaize Group which was completed on July 23, 2016.
The unaudited pro forma information includes
key historical data on the results of Ahold Delhaize and provides a
comparative basis to facilitate assessment of the current
performance of the combined company for illustrative purposes. The
information, which may be subject to change, is presented in a
format that is aligned with Ahold Delhaize's future reporting
structure and reporting segments.
The pro forma key historical data has been
prepared assuming the merger became effective on the first day of
Ahold's 2015 financial year. Delhaize Group's assets and
liabilities have been accounted for at fair value, in accordance
with IFRS 3, and calculated on the basis of values/data established
on the date of merger completion, i.e. July 23, 2016. No
adjustments were made for the difference in number of weeks per
quarter. The reporting calendar will be aligned to 13 week quarters
for all segments as of the first quarter of 2017.
The following main adjustments to the combined
historical data were made to arrive at the pro forma
information:
- Exclusion of the performance of remedy stores and
other divestments
- Exclusion of merger transaction costs
- Inclusion of Purchase Price Allocation effects on
Delhaize assets and liabilities, impacting depreciation and
amortization, net interest expense and rent
- Alignment of Global Support Office functions and
related costs
- Alignment of foreign exchange rates for
consolidation of foreign group entities
Following provisional fair value adjustments were
made to the Delhaize balance sheet:
- Property, Plant and Equipment increased by €0.8
billion
- Goodwill & non-amortizable intangibles
increased by €5.2 billion, which includes €2.4 billion allocated to
Ahold banners
- Other intangible assets increased by €0.9
billion
- Net debt increased by €0.7 billion to €2.7
billion
The main impacts from the pro forma adjustments
(compared to historical Ahold and Delhaize results combined) on
Ahold Delhaize are summarized in the attachement: Press release
Ahold Delhaize pro forma results
The detailed pro forma information is
available on our website.
Press release Ahold Delhaize pro
forma results
Booklet Ahold Delhaize pro forma information
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ahold Delhaize via Globenewswire
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