Financial StabilityThere is no material risk of margin falling below 4% due to recovery in EU margin, Profi accretion, store closures, and cost savings offsetting US price investments.
Market ValuationValuation remains attractive, trading at 11x PE and 8.9% FCF yield, versus historical averages of 13x and 6.7% respectively.
Strategic InvestmentsAhold Delhaize is investing $1bn in price, store remodelling, and focusing on growth in Food Lion, Hannaford, and Central Europe.