By Jaime Llinares Taboada

 

Koninklijke Ahold Delhaize NV said Monday that it will explore an initial public offering of its subsidiary Bol.com.

The IPO is expected to happen in the second half of 2022, subject to factors including market conditions, Ahold Delhaize said. It will involve a listing of a limited shareholding on Euronext Amsterdam, and Ahold Delhaize will retain significant control in the business.

The Dutch grocer said listing the retail platform would fuel its "tremendous growth potential" and provide further funding for the parent company.

Bol.com is expected to deliver net consumer online sales of 5.5 billion euros ($6.29 billion) and earnings before interest, taxes, depreciation and amortization of EUR150 million-EUR170 million in 2021. Ahold Delhaize wants to double those figures by 2025.

Ahold Delhaize also said it will aim to grow group sales by EUR10 billion by 2025, and will launch a EUR1 billion share-buyback program at the beginning of 2022.

As part of its investor day presentation, the company provided a set of targets for 2025. It will seek to maintain industry-leading margins while doubling online sales and delivering high-single-digit annual underlying earnings-per-share growth.

In the shorter term, Ahold Delhaize also plans to buy back EUR1 billion of shares in 2022. The company expects 2022 sales to grow despite macroeconomic headwinds, with an operating margin of at least 4.0%.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

November 15, 2021 04:56 ET (09:56 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Koninklijke Ahold Delhai... (EU:AD)
Historical Stock Chart
Von Jul 2022 bis Aug 2022 Click Here for more Koninklijke Ahold Delhai... Charts.
Koninklijke Ahold Delhai... (EU:AD)
Historical Stock Chart
Von Aug 2021 bis Aug 2022 Click Here for more Koninklijke Ahold Delhai... Charts.