INCOME STATEMENT(1) (in millions of EUR)
4th Q. 2000 4th Q. 1999 2000/1999
Sales 6,223.8 4,376.3 +42,2%(2)
Cash flow from operations (EBITDA)
   EBITDA-margin
Depreciation
Amortization of goodwill and intangibles
Store closing expense 		463,5
7,5%
(164,7)
(32,2)
(0,6)
 322,5
7,4%
(94,8)
(2,3)
0(6) 		+43,7%
-
+73,7%
+1.276,8%
-
Operating profit (EBIT)
   EBIT-margin
Financial income / (expense) 		266,0
4,3%
(126,0) 		225,4
5,2%
(42,9) 		+18,0%
-
+193,8%
Current profit
Exceptional income / (expense) 		140,0
3,5(4) 		182,5
0,3 		-23,3%
-
Profit before income taxes
Income taxes 		143,5
(48,9) 		182,8
(68,9) 		-21,5%
-29,0%
Net profit from consolidated companies
Minority interests 		94,6
(27,9) 		113,9
(51,1) 		-17,0%
-45,4%
Net profit after goodwill & exceptionals (Group share) 66,7 62,8 +6,2%
Net profit before goodwill & exceptionals (Group share) 59,5 64,0 -7,2%(3)
Net profit after goodwill & exceptionals per share (5) 1,28 1,21 +6,1%
Net profit before goodwill & exceptionals per share (5) 1,14 1,23 -7,2%
Number of shares (average fourth quarter) 52,031,725 52,008,232 -
Number of shares (end of the fourth quarter) 52,031,725 52,016,925 -

(1) The average ownership interest of Delhaize Group in Delhaize America for the fourth quarter decreased from 47.79% in 1999 to 45.76% in 2000. Hannaford is fully consolidated since July 31, 2000 and Mega-Image since May 1, 2000, while P.G. was deconsolidated since September 30, 2000.
(2) + 24.2% at identical currency rates.
(3) - 20.6% at identical currency rates.
(4) Exceptional income on the divestiture of 50% of P.G. partly offset by merger and one-time financial costs by Delhaize America related to the Hannaford acquisition.
(5) The denominator is the average number of shares in the fourth quarter.
(6) In the fourth quarter of 1999 Delhaize Group posted store closing charges of EUR 3.9 million in normal course of business.

COMPANIES’ RESULTS (1)

Cash Flow From Operations

 (in millions)

4th Q 2000

4th Q 1999

2000/1999

% of Sales

Delhaize America (2)
Super Discount Markets
Delhaize België
Alfa-Beta
Delvita
Mega-Image
Azië (3) 		USD
USD
EUR
GRD
CZK
ROL
EUR
349.4
1.7
45.3
3,970.6
77.3
12,991.1
(0.6)
 277.4
2.3
37.2
2,649.7
216.7
-
0.1
 +25.6%
-25.9%
+21.8%
+49.8%
-64.3%
-
-
 7.8%
1.8%
5.7%
8.6%
2.5%
6.8%
-

(1) P.G. is deconsolidated since September 30, 2000.
(2) Hannaford is fully consolidated since July 31, 2000.
(3) Combined results of Food Lion Thailand, Super Indo and Shop N Save.

Full Year 2000 Figures (audited)

INCOME STATEMENT (1)                                        (in millions of EUR)

2000

1999

2000/1999

Sales

18,168.2

14,310.1

        +27.0%   (2)

Cash flow from operations (EBITDA)

   EBITDA-margin

Depreciation

Amortization of goodwill and intangibles

Store closing expense

1,274.5

7.0%

(454.0)

(51.5)

(29.5)

976.1

6.8%

(319.2)

(8.7)

0 (6)

        +30.6%

                    -

        +42.3%

      +490.9%

-

Operating profit (EBIT)

   EBIT-margin

Financial income / (expense)

739.5

4.1%

(296.2)

648.2

4.5%

(140.1)

        +14.1%

                    -

      +111.4%

Current profit

Exceptional income / (expense)

443.3

(41.3) (4)

508.1

2.6

         -12.8%

                    -

Profit before income taxes

Income taxes

402.0

(145.7)

510.7

(189.5)

         -21.3%

         -23.1%

Net profit from consolidated companies

Minority interests

256.3

(95.6)

321.2

(151.3)

         -20.2%

         -36.8%

Net profit after goodwill & exceptionals (Group share)

160.7

169.9

           -5.4%

Net profit before goodwill & exceptionals (Group share)

187.7

174.7

          +7.5%   (3)

Net profit after goodwill & exceptionals per share (5)

3.09

3.27

           -5.5%

Net profit before goodwill & exceptionals per share (5)

3.61

3.36

          +7.4%

Number of shares (average year)

52,022,909

51,983,055

 

Number of shares (end of the year)

52,031,725

52,016,925

 

(1) The average ownership interest of Delhaize Group in Delhaize America increased from 47.30% in 1999 to 49.23% in 2000. Hannaford is fully consolidated since July 31, 2000 and Mega-Image since May 1, 2000, while P.G. is deconsolidated since September 30, 2000.
(2) + 13.6 % at identical currency rates.
(3) - 2.3 % at identical currency rates.
(4) Provision for exceptional store closings and merger costs by Delhaize America, partly offset by an exceptional income on the divestiture of 50% of P.G.
(5) The denominator is the average number of shares in the year.
(6) In 1999, Delhaize Group posted store closing charges of EUR 12.2 million in normal course of business.

COMPANIES’ RESULTS (1)

Cash Flow From Operations

Net Profit

(in millions)

2000

1999

2000/1999

% of Sales

2000

1999

2000/1999

Delhaize America (2)
Super Discount Markets
Delhaize België
Alfa-Beta
Delvita
Mega-Image
Azië (3) 		USD
USD
EUR
GRD
CZK
ROL
EUR
959.5
5.6
149.8
9,741.9
590.6
17,702.1
1.0
 865.2
6.6
111.8
7,671.2
723.9
-
3.0
 +10.9%
-15.1%
+34.0%
+27.0%
-18.4%
-
-66.7%
 7.6%
1.8%
5.0%
6.1%
4.8%
4.3%
0.4%
 155.5
(0.6)
63.2
1,957.8
(74.2)
NM
NM
 300.4
1.3
39.5
1,256.4
0.3
-
NM
 - 48.2%
-
+ 60.0%
+ 55.8%
-
-
-

(1) P.G. is deconsolidated since September 30, 2000.
(2) Hannaford is fully consolidated since July 31, 2000.
(3) Combined results of Food Lion Thailand, Super Indo and Shop N Save.

BALANCE SHEET                                                           (in millions of EUR)

December 31, 2000

December 31, 1999

Assets

 

 

Intangible assets (I+II+III)

3,668.8

431.0

Tangible and financial fixed assets (IV + V)

3,818.6

2,771.4

Inventories and receivables (VI + VII + VIII + XI)

2,637.2

2,159.1

Treasury (IX + X)

273.1

366.1

Total Assets

10,397.7

5,727.6

 

 

 

Liabilities

 

 

Shareholder’s equity (including minority interests) (I-VIII)

3,000.4

1,990.9

Provisions for liabilities and deferred taxation (IX)

578.6

185.2

Amounts payable after one year (X)

1,350.2

1,116.0

Amounts falling due within one year (XI + XII)

5,468.5

2,435.5

                of which financial liabilities (XI, A+B)

3,523.3

666.3

Total liabilities

10,397.7

5,727.6


CASH FLOW STATEMENT                                                                        (in millions of EUR)

2000

1999

Operating Activities

 

 

Income before minority interests

256.3

321.2

Adjustments for non-cash items

856.7

625.3

Changes in working capital requirement

(82.0)

(64.7)

Additions to (uses of) provisions for liabilities and deferred taxation

62.9

23.0

Interests paid

(269.0)

(110.6)

Income taxes paid

(154.4)

(176.5)

Net cash provided by operating activities

670.5

617.6

 

 

 

Investing Activities

 

 

Purchase of shares in consolidated companies, net of cash and cash equivalents acquired

(2,949.0)

(226.2)

Purchase of intangible, tangible and financial assets, net of sales

(453.7)

(532.0)

Sale of shares in consolidated companies, net of cash and cash equivalents disposed of

71.0

0

Other investing activities

1.3

3.7

Net cash used in investing activities

(3,330.4)

(754.5)

 

 

 

Financing Activities

 

 

Proceed from the exercise of share warrants

0.7

2.4

Additions to (repayments of) long-term loans

(76.1)

50.6

Additions to (repayments of) short-term loans

2,703.3

436.4

Dividends and directors remuneration paid (incl. div. from subs to minority interests)

(117.2)

(99.8)

Subsidiary capital transactions (treasury stock purchases and stock option issued)

4.9

(132.8)

Net cash provided by (used-in) financing activities

2,515.6

256.9

 

 

 

Effect of foreign exchange translation differences and change in scope of consolidation

14.5

23.0

Net increase (decrease) in cash and cash equivalents

(129.9)

143.1


EXCHANGE RATES

End of the Year

Average Rate

 (in EUR)

2000

1999

2000

1999

1 U.S. dollar (USD)

1.07469

0.995421

1.0850

0.9386

100 Greek drachma (GRD)

0.2935

0.3028

0.2971

0.3070

100 Czech crown (CZK)

2.8245

2.770

2.8099

2.7127

100 Slovak crown (SKK)

2.2717

2.3488

2.3455

2.2635

100 Romanian lei (ROL)

0.0041

-

0.0049

-

100 Thai baht (THB)

2.4499

2.6559

2.7040

2.4846

100 Indonesian rupiah (IDR)

0.0110

0.0141

0.0130

0.0122

1 Singaporean dollar (SGD)

0.6128

0.5989

0.6293

0.5563