Ahold Delhaize slashes 2026 outlook post-cyberattack
Ahold Delhaize has lowered its 2026 earnings and free cash flow guidance following a cyberattack last month. The incident impacted US and Benelux online services and Benelux supply chain operations. Despite the setback, the company reported third-quarter sales and operating income growth, highlighting its resilience in the face of challenges.
The retailer now forecasts low-single-digit growth in diluted underlying earnings per share (EPS) at constant exchange rates for the full year, down from its previous mid-to-high-single-digit expectation. It also expects full-year free cash flow of approximately €2.1 billion compared to its earlier target of at least €2.3 billion. This adjustment reflects the financial impact of both the cyberattack and new supplier payment regulations in Serbia.
The revised outlook incorporates the cyberattack’s estimated reduction of Q4 net sales by €200 million to €250 million and underlying and operating income by €75 million to €100 million. Additionally, the company anticipates marginal remediation costs associated with the incident.
Despite these challenges, the company reported strong third-quarter results. Group net sales rose 1.9% at constant exchange rates to €23.09 billion, while operating income increased 7.1% at constant rates to €976 million, reaching an 8.1% increase at actual rates with an operating margin of 4.2%. Net income climbed 5.9% at constant rates to €625 million, and free cash flow grew 12.5% at constant rates to €445 million, up from €389 million in Q3 2025.
Geographically, US net sales increased 1.1% at constant rates to €13.27 billion, with US online sales rising 14.2% to €1.29 billion.
Ahold Delhaize also announced its agreement to acquire Tesco Czechia and Slovakia for a lease-adjusted enterprise value of approximately €1.7 billion. The deal, subject to antitrust and other regulatory approvals, is expected to close in Q4 2027. Additionally, the company confirmed a €1 billion share buyback program set to begin in 2027.
