Retailer Ahold has announced a loss for the third quarter of 2005, because of the effect of the securities class act settlement announced earlier this week.

The company made a net loss of EUR239m (US$282m) during the third quarter, compared with a net loss of EUR134m during the same period last year.

Net sales for the third quarter were EUR2.100bn, compared with EUR2.067bn a year ago.

For the year to date the net loss was EUR44m, compared with a net profit of EUR666m last year. Year to date net sales were EUR33.664bn, compared with EUR33.815bn last year.

Excluding the effect of the settlement Ahold delivered increases in net sales, operating income and net income despite a challenging competitive environment and higher energy prices, the company said. Operating income, excluding settlement effect, rose to EUR 258m on third-quarter net sales of EUR 10.2bn due to higher gross margins and lower operating expenses. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Net income, excluding settlement effect increased to EUR346m compared to a loss of EUR134m in the third quarter of last year as the effects of 2004 impairment charges and one off items subsided and efforts to reduce net debt and improve borrowing terms paid off.

“The settlement of the securities class action allows Ahold to move forward in focus intensely on its business and future strategy,” said Anders Moberg, Ahold’s president and chief executive officer.” “Excluding the effect of the settlement, our performance improved this quarter despite the fact that the retail environment remains challenging.”