BRUSSELS, Belgium, June 29, 2005 (PRIMEZONE) -- Delhaize Group (Euronext Brussels: DELB) (NYSE:DEG), the Belgian international food retailer, today released financial information for the second, third and fourth quarters of 2004 according to International Financial Reporting Standards (IFRS).
Since the beginning of 2005, Delhaize Group reports its financial results under IFRS as endorsed by the European Union. This replaces Delhaize Group's previous reporting under Belgian GAAP.
The report released today provides the following information on the
effect of the adoption of IFRS on Delhaize Group's financial
statements as previously published under Belgian GAAP:
- A reconciliation of 2nd and 3rd quarters of 2004 shareholders'
equity and 2nd, 3rd and 4th quarters of 2004 net profit;
- The IFRS preliminary consolidated balance sheet and statement of
changes in shareholder's equity for the 2nd and 3rd quarters of
2004, and income statement and statement of cash flows for the
2nd, 3rd and 4th quarters of 2004, including segment information;
and
- Non-GAAP measures for the 2nd, 3rd and 4th quarters of 2004.
The report released today should be read in conjunction with a first
report published on May 4, 2005, on the Company's website
(www.delhaizegroup.com), to which we refer for explanations to the
preliminary financial statements.
The May 4, 2005 report provides the following information on the
effect of the adoption of IFRS on Delhaize Group's financial
statements as previously published under Belgian GAAP:
- The basis of preparation, the transition options and the
significant accounting policies;
- A reconciliation of January 1, 2003 (date of transition to IFRS)
equity and 2003, 2004 and 1st quarter of 2004 shareholders'
equity and net profit;
- The IFRS preliminary consolidated balance sheet, income
statement, statement of cash flows and statement of changes in
shareholders' equity for 2003, 2004 and the 1st quarter of 2004,
including segment information;
- Explanations supporting the reconciliations and the IFRS
financial information;
- Non-GAAP measures; and
- The special purpose report of the Company's Statutory Auditor
Delhaize Group
Delhaize Group is a Belgian food retailer present in eight countries on three continents. At the end of the first quarter of 2005, Delhaize Group's sales network consisted of 2,571 stores. In 2004, Delhaize Group posted EUR 17.9 billion (USD 22.2 billion) in sales and EUR 299.8 million (USD 372.9 million) in net profit. At the end of 2004, Delhaize Group employed approximately 138,000 people. Delhaize Group is listed on Euronext Brussels (DELB) and the New York Stock Exchange (DEG).
This press release is available in English, French and Dutch. You can also find it on the web site http://www.delhaizegroup.com. Questions can be sent to investor@delhaizegroup.com.