Supermarket giant Ahold Delhaize has confirmed the cancellation of Bol.com’s IPO because of the prevailing market conditions.

The announcement, which said the plans would be revisited ‘when equity market conditions are more conducive’, was made at the presentation of the group’s second quarter results on Wednesday.

Bol.com sales were down 7% in the first quarter of this year and 2.1% in the second, the company said. ‘Excluding Bol.com, net consumer online sales increased by 11.5% at constant rates, as online grocery penetration rates continued to increase,’ the company said.

The group reported adjusted operating profit for the second-quarter of €880 million, which was better than expected. Year-on-year net sales growth was 6.4% at constant exchange rates, at €21.4 billion.