Paris 09.22.2017, 17h37   CRF  16.55 €  +0.15%
07/28/2016

2016 First Half Results

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Half-year results: Carrefour continues its profitable growth momentum

Strong growth in organic sales: +2.9%
ROI growth for the eighth consecutive half: +5.3% at constant exchange rates
Adjusted net income, Group share up +0.6%

Sales inc. VAT of €40.6bn in H1 (€20.5bn in Q2): Further growth in organic sales
•    Resilient sales in France and Europe in a more difficult consumption environment, notably marked by unfavorable weather conditions
•    Very strong growth in emerging markets, driven by Latin America and Taiwan

Recurring Operating Income of €706m in H1: Strong operational performance
•    Operating margin held up well in France, stable at 1.8%
•    Strong growth in Other European countries, with a 30bp rise in operating margin
•    Growth in profitability in Latin America, with a 12.3% rise in ROI

Investments to support the multiformat and omnichannel model
•    Openings of 305 convenience stores, 97 supermarkets, 5 cash & carry stores and 3 integrated hypermarkets in H1
•    Digital-channel development in all the Group’s countries
•    First contribution of Rue du Commerce in France
•    Creation of Cargo, a real estate company dedicated to logistics controlled by Carrefour and co-financed with third parties
•    Accelerated pace of DIA store conversions in France with 260 stores converted in H1. 412 stores are now under Carrefour banners; the conversion of the 648 stores will be completed as planned at end-2016

2016 objectives
•    Investments1 of between €2.5bn and €2.6bn
•    Increased free cash flow  and stable year-end net debt vs. end-2015
•    Continued strict financial discipline: maintain BBB+ rating

1 Ex. Cargo

 

 

Download the press release 2016 Half Year Results (pdf 273.22 KB) Download the presentation 2016 Half Year Results (pdf 1.38 MB) Download the additional information (pdf 1.69 MB)

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