April 10, 2015
Total Q1 Sales: Strong organic sales growth, up +3.2% ex petrol and calendar
April 10, 2015
Q1 2015 consolidated sales: €21.0bn, up +3.2% on an organic basis ex petrol and ex calendar
In Q1, Carrefour’s sales benefited from a positive +2.1% currency effect and a +0.3% calendar effect offset by an unfavorable 2.1% petrol impact Change in Q1 2015 sales
0.3 (2.1)
2.1 +3.2%
0.9
2.7
105.9
+6.2%
106.2
103.2
2.3 100.0
Q1 2014
LFL Store ex petrol openings / ex calendar closures
Q1 2015 Acquisitions Q1 2015 organic / Disposals at constant ex petrol fx rates ex calendar ex petrol ex calendar
Forex
Calendar
Petrol
Q1 2015 at current fx rates
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Total Q1 Sales: Continued organic growth in France and International Markets
April 10, 2015
Change in Q1 2015 organic sales ex petrol, ex calendar*
France 0.1 2.5
+3.6%
102.6
100.0
Q1 2014
International
+2.6% 2.2
1.4
103.6
Store openings / closures
Q1 2015 organic
100.0
LFL
Store openings / closures
Q1 2015 organic
Q1 2014
LFL
France: o Organic sales up +2.6% ex petrol ex calendar o Ex petrol total sales up +7.9% and reported sales up +3.6% (including a -4.3% petrol impact)
International: o Organic sales up +3.6% ex petrol ex calendar o Reported sales up +8.4% (including a -0.7% petrol impact)
* Q1 2015 calendar effect is estimated at 0.0% for France and +0.6% for International Markets. Petrol had a -4.3% impact for France and -0.7% for International Markets.
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France: Accelerating organic growth on strong comparables
April 10, 2015
Change in Q1 2015 organic sales ex petrol, ex calendar* Hypermarkets
Total France +2.6%
0.1
0.1 2.5
Supermarkets
+2.2%
2.1 102.6
100.0
Q1 2015 organic
Q1 2014
102.2
+2.0%
2.5
(0.5)
102.0
LFL
Store openings / closures
Q1 2015 organic
100.0
100.0
Q1 2014
LFL
Store openings / closures
LFL
Store openings / closures
Q1 2015 organic
Q1 2014
Overall French organic sales up +2.6% ex petrol ex calendar on the back of strong comparables; growth in all formats, illustrating the dynamism of our multi-format model
Hypermarkets: growth in food sales; non-food sales close to break-even LFL sales up 2.1% and organic sales up 2.2% ex petrol ex calendar
Supermarkets: LFL up +2.5% and organic sales up +2.0% ex petrol ex calendar on a high comparable base
Strong growth in convenience and other formats: organic sales up +6.2% ex petrol ex calendar
* Q1 2015 calendar effect is estimated at 0.0% for Total France, +0.1% for hypermarkets and -0.1% for supermarkets. Petrol had a -4.3% impact overall in France, a -2.7% impact at hypermarkets and a -4.5% impact at supermarkets.
4
Other European countries: A further quarter in positive territory
April 10, 2015
Change in Q1 2015 organic sales ex petrol, ex calendar*
+0.9% 0.9
0.0
100.0
Q1 2014
100.9
LFL
Store openings / closures
Q1 2015 organic
Organic sales in other European countries up +0.9% ex petrol ex calendar
Further growth in LFL in Spain with +0.3% LFL ex petrol ex calendar
Ex petrol ex calendar LFL sales down 1.0% in Italy and up +2.1% in Belgium
LFL growth in Poland and Romania
* Q1 2015 calendar effect is estimated at +0.3% for Other Europe (+0.2% in Spain, +0.7% in Italy and -0.2% in Belgium). Petrol had a -0.7% impact overall, -1.5% in Spain and -0.2% in Italy.
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April 10, 2015
Latin America: Continued strong performance Change in Q1 2015 organic sales ex petrol, ex calendar*
+16.6% 4.1
116.6
Store openings / closures
Q1 2015 organic
12.5
100.0
Q1 2014
LFL
Strong growth in Brazil; overall ex petrol and ex calendar organic growth of +13.1% in spite of a strong comparable base. Growth in all formats
Argentina: +28.0% organic growth excluding calendar
* Q1 2015 calendar effect is estimated at +0.7% in Latin America (+0.7% in Brazil). Petrol had a -0.9% impact overall.
6
Asia: Growth in total sales; deployment of action plans in China
April 10, 2015
Change in Q1 2015 organic sales ex calendar*
100.0
-10.5%
(11.3) 0.8
89.5
Q1 2014
LFL
Store openings / closures
Q1 2015 organic
China: Deployment of our action plans begins in a persistently frugal consumption environment; ex calendar organic sales down 13.0%, expansion generated growth of +1.0%
Ex calendar LFL sales back in positive territory in Taiwan (+0.7%)
Reported sales in Asia benefited from a significant positive currency effect of +16.1%
* Q1 2015 calendar effect is estimated at +1.2% in China (+1.0% for Asia overall). No petrol sales in Asia.
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April 10, 2015
Key takeaways
Carrefour showed continued momentum, posting an excellent performance in Q1 2015
Carrefour’s fundamentals continue to improve under the effect of our action plans
The Q1 2015 numbers underscore the relevance of our multi-format model, leveraging our food offer
Staying the course on our operational priorities in 2015: o o o o o o
Action plans in all countries to improve the offer, price image and shopping experience Accelerate multi-format, multi-channel roll-out Implement structural projects such as supply chain and IT in France, evolution of our model in China Enhance the attractiveness of our sites Accelerate store remodelings Maintain financial discipline
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April 10, 2015
