Bol.com prepares IPO
Bol.com is expected to launch an initial public offering (IPO) in the second half of 2022. Its holding, Ahold Delhaize, wants to use the public offering to raise extra finances and fulfill the platform’s growth potential. The holding also announces other plans for the coming years.
The biggest online store in the Netherlands, Bol.com, has been part of the Ahold Delhaize holding since 2012. Today, the holding announces plans to accelerate growth and generate more customer value. Part of this strategy is exploring a subsidiary IPO of Bol.com, while Ahold Delhaize will retain long-term control.
‘The IPO will provide funding for Ahold Delhaize.’
The holding speaks of strategic opportunities for Bol.com and wants to build on the platform’s leading position, success and customer loyalty. The initial public offering will provide additional funding for Ahold Delhaize to execute its strategy in the coming years.
Ahold will be biggest shareholder
The IPO will entail a listing of limited interest on Euronext Amsterdam, while Ahold Delhaize will continue being the biggest shareholder. It should take place in the second half of 2022, but the launch is subject to multiple factors, including market conditions.
It is striking that Ahold Delhaize makes this announcement relatively short after Coolblue announced its plans of launching its IPO this year on Euronext Amsterdam as well. However, just a week later, Coolblue decided to postpone those plans. According to the online retailer, the postponement was a result of uncertainty among investors.
Company results Bol.com will be public
Previously, Ahold Delhaize has preferred keeping company results of Bol.com private. In quarterly reports, Bol.com usually announces growth in trading volume and the amount of sellers on the platform. The initial public offering will grant investors of Ahold Delhaize’s wish for more transparency, as Bol.com will be required to make company results public.
The holding also shares other financial ambitions for the coming years. It wants to accelerate its sales growth rates between 2023 and 2025 by adding 10 billion euros by 2025. Bol.com net consumer sales, which are projected at 5.5 billion euros for 2021, are expected to approximately double by 2025. It’s earnings before interest, taxes, depreciation and amortization (EBITDA) are projected between 150 and 170 million euros, which are also expected to double by 2025. Ahold also has the ambition to reach net-zero carbon emissions across its own operations no later than 2040.
‘Bol.com net sales are projected at 5.5 billion euros.’
Frans Muller, CEO, comments: ” We realize that these are ambitious targets which require a lot of work over the coming years. But we are confident that these and the other targets included in today’s strategy update are achievable because of our highly engaged and committed associates.”