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Casino, Guichard-perrachon Sa — H1 2026 Earnings Presentation
41 slides from Casino, Guichard-perrachon Sa's earnings presentation, Jul 30, 2026
Slide 1: H1 2026 Financial Data Estimates
H1 2026 FINANCIAL DATA ESTIMATES Not yet approved and not subject to a limited review July 30th, 2026 H1 2026 Financial data estimates (unaudited) – 30 July 2026 1
Slide 2: Introduction
1 INTRODUCTION Philippe Palazzi Chief Executive Officer H1 2026 Financial data estimates (unaudited) – 30 July 2026 2
Slide 3: A long-term transformation project in 3 phases
A long-term transformation project in 3 phases H1 2026 GROW RECOVER RESTORE expansion Definition Update & IMPLEMENTATION 2028 2030 2024 2025 2026 2027 2028 2029 2030 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Financial, managerial, Adapting and strengthening of
Slide 4: H1 Focus on execution
H1 Focus on execution • Brands & stores investments • Quick meal solutions concepts roll-out • Store portfolio streamlining • Franchise development • Costs reduction • COGS improvement • Cash control H1 2026 Financial data estimates (unaudited) – 30 July 2026 4
Slide 5: H1 2026 in line with business plan
H1 2026 in line with business plan H1 2026 H1 2026 NET SALES ADJUSTED EBITDA VAT EXCLUDED €3.97bn €326m +0.4% LFL vs H1 2025 +14% vs H1 2025 H1 2026 H1 2026 ADJUSTED EBITDA FREE CASH-FLOW AFTER LEASE PAYMENTS BEFORE FINANCIAL EXPENSES €109m -€30m +54M€ vs H1 2025 +€23m vs S1 2025 H1 2026 Financial d
Slide 6: H1 2026 achievements per brand
H1 2026 achievements per brand H1 2026 Financial data estimates (unaudited) – 30 July 2026 6
Slide 7: Monoprix
MONOPRIX
Slide 8: Monoprix H1 Net Sales and Adj. EBITDA
H1 Net Sales H1 Adj. EBITDA €1.95bn €207m H1 2026 -1.0% LFL +11.0% Launch of the new store concept and brand platform > Aix-en-Provence Quick Meal Solutions > 20 stores rolled-out with the concept (+7 in H1 2026) Food > Fruit & vegetables concept: 22 new modules rolled-out > QMS: 19 new instore Food
Slide 9: le dimanche
le dimanche a partir de 9h franprix ©
Slide 10: Franprix H1 Net Sales and Adj. EBITDA
H1 Net Sales H1 Adj. EBITDA €755m €72m H1 2026 +0.8% LFL +18.8% Oxygène concepts > 63 stores rolled-out into the Oxygène concept in H1 2026 (170 stores in total | 17% of store portfolio) Quick Meal Solutions > Snacking space re-allocation and snacking assortment development B2C commercial activities
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Slide 12: Casino H1 Net Sales and Adj. EBITDA
H1 Net Sales H1 Adj. EBITDA €619m €11m H1 2026 +3.5% LFL -22.8% Store concepts > 16 stores rolled-out into the new concept (+11 in H1 2026) > 4 stores remodeling with the new identity : Feurs, St-Etienne, Dijon & Ajaccio B2C commercial activities > Loyal program Coup de Pouce acceleration : +76 k re
Slide 13: Naturalia
NATURALIA
Slide 14: Naturalia H1 Net Sales and Adj. EBITDA
H1 Net Sales H1 Adj. EBITDA €166m €14m H1 2026 +5.7% LFL +10.1% Concepts > 16 stores rolled-out into La Ferme concept (52 stores in total | >20% of store portfolio) > Corner rolled-out in 32 Spar (+11 in H1 2026) Quick Meal solutions > 22 stores rolled-out with the new organic snacking concept (57 s
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Slide 16: Cdiscount H1 GMV, Net Sales and Adj. EBITDA
H1 GMV H1 Net Sales H1 Adj. EBITDA €1.30bn ic. VAT €454m €29m H1 2026 +5.7% -0.6% LFL +5.7% Commerce > Sustained 3P momentum GMV: +12.5% in H1 2026 (+12.0% in Q2) > Marketplace representing 71% GMV (+3.3 pts vs H1 2025) > Cdiscount Advertising at +17.6% vs. H1 2025 Clients > Continued growth in new
Slide 17: H1 2026 achievements: Group initiatives
H1 2026 achievements Group initiatives H1 2026 Financial data estimates (unaudited) – 30 July 2026 17
Slide 18: Store network streamlining and franchise management
Store network streamlining and franchise management Stores network evolution in 2025 and H1 2026 Strengthening the franchise relationship 86% of franchisee • High logistic service rate > 95% with high focus during seasonal peaks 1,178 254 112 207 • Continuous improvement of NPS B2B launched in 2025
Slide 19: Efficiency & synergies
Efficiency & synergies Efficiency improvement, costs reduction, CapEx monitoring Increase national brands’ overlapping & purchasing massification • Roll-out of 7 Group shared service centers finalized in H1 2026 • National brands’ assortment overlapping between BUs increase IT, Accounting, Payroll,
Slide 20: Financial Data Estimates
2 FINANCIAL DATA ESTIMATES Angélique Cristofari Chief Financial Officer H1 2026 Financial data estimates (unaudited) – 30 July 2026 20
Slide 21: H1 2026 Key financial data estimates
H1 2026 Key financial data estimates H1 2025 H1 2026 Change In €m Restated1 Net sales 4,077 3,967 +0.4% (LFL), -2.7% (total change) Adjusted EBITDA 286 326 +13.9% EBITDA after lease payments 55 109 +97.1% Trading profit (11) 49 +€60m Net profit (loss), Group share (225) (205) +8.9% (consolidated) Fr
Slide 22: FMCG Market Evolution
FMCG* Market Evolution FMCG market evolution – YTD Net sales Inflation Volume Mix Effect +2.1% +0.9% +1.0% +0.2% = +0.6% in 2025 + + +1.9% in 2025 +0.9% in 2025 +0.4% in 2025 Change in net sales and volume by retail channel – YTD HYPERMARKETS SUPERMARKETS DISCOUNT CONVENIENCE E-COMMERCE Net sales +1
Slide 23: H1 2026 Net sales
H1 2026 Net sales Net sales NET SALES Convenience breakdown VAT EXCLUDED -1.0% +0.8% brands LFL LFL 4% 11% €3.5bn €4.0bn +0.5% LFL +3.5% +5.7% 16% 49% LFL LFL +0.4% LFL 19% H1 2026 Positive Q2 Monoprix Franprix Net Sales -0.6% LFL +0.2% LFL Casino Cdiscount Naturalia Other GMV +5.7% +5.7% H1 2026 Fi
Slide 24: Monoprix Net Sales and EBITDA
H1 2026 Net Sales EBITDA €1.95bn €207m €78m €186m in H1 2025 €50m in H1 2025 -1.0% LFL Adjusted After lease payments • -1.0% LFL in H1 2026 (Q2: -1.5% LFL) • Non-food (+0.4% LFL) driven by Fashion & Home (+2.4% LFL) which is outperforming the market Net sales • Food (-1.6% LFL): • Negative impact: t
Slide 25: Franprix Net Sales and EBITDA
H1 2026 Net Sales EBITDA €755m €72m €33m €60m in H1 2025 €20m in H1 2025 +0.8% LFL Adjusted After lease payments • +0.8% LFL in H1 2026 (Q2: +0.8% LFL) • Positive impact: ✓ Good performance of stores converted to the ‘Oxygène’ concept Net sales (+4.8% LFL) ✓ Solid contribution from owned stores (+2.
Slide 26: Casino Net Sales and EBITDA
H1 2026 Net Sales EBITDA €619m €11m €(11)m €14m in H1 2025 €(8)m in H1 2025 +3.5% LFL Adjusted After lease payments • +3.5% LFL in H1 2026 (Q2: +4.7% LFL) • Efficiency of the supply chain with an improvement of service rate* at 95.4% in H1 2026 (+1.2 pts vs H1 2025) Net sales • Strong performance of
Slide 27: Naturalia Net Sales and EBITDA
H1 2026 Net Sales EBITDA €166m €14m €5m €12m in H1 2025 €4m in H1 2025 +5.7% LFL Adjusted After lease payments • +5.7% LFL in H1 2026 (Q2: +6.1% LFL) • Positive momentum in fresh products (+8.0% in H1 and +9.3% in Q2) • Continued success of ‘La Ferme’ concept and Quick Meal Solutions Net sales offer
Slide 28: Cdiscount Net Sales and EBITDA
H1 2026 Net Sales EBITDA €454m €29m €19m €28m in H1 2025 €15m in H1 2025 -0.6% LFL Adjusted After lease payments • -0.6% LFL in H1 2026 (Q2: +0.2%) • Total GMV: +5.7% led by the marketplace performance (Q2: +5.7%) ✓ Marketplace GMV (71% of Product GMV): +12.5% (Q2: +12.0%) Net sales ✓ Direct sales G
Slide 29: H1 2026 Consolidated Net Loss
H1 2026 Consolidated Net Loss Net financial Taxation Net loss from continuing Trading profit OOE* expense -€4m operations, Group share* +€49m -€83m -€176m -€212m • Net loss from continuing operations, Group share: -€212m + ‐ Net other operating expense (OOE) of -€83m (vs. -€25m in H1 2025), mainly i
Slide 30: H1 2026 Free Cash Flow before financial expenses
H1 2026 Free Cash Flow before financial expenses Improvement in operating cash-flow In €m H1 2025 H1 2026 Adjusted EBITDA 286 326 (-) lease payments (231) (217) Adjusted EBITDA after lease payments 55 109 o/w other operating expense cash items2 (32) (22) (-) other items 6 2 Strong improvement in adj
Slide 31: H1 2026 Net Debt
H1 2026 Net Debt €(197)m change in net debt mainly due to financial expenses In €m H1 2025 H1 2026 Free cash flow before financial expenses (53) (30) Mainly -€63m interests paid for the reinstated Term Loan and -€14m related to CB4X2 Financial expenses (83) (102) Dividends (0) (1) Project to adapt a
Slide 32: Financial covenants
Financial covenants Minimum liquidity Projected liquidity Net leverage ratio • On the last day of each • At the end of each quarter, • At the end of each quarter, month, liquidity must be at cash forecasts must show the covenant net debt to pro least €100m. liquidity of at least €100m at forma EBITD
Slide 33: Status update on the project to adapt and strengthen the financial structure
Status update on the project to adapt and strengthen the financial structure 1 On 24 November 2025, the Company presented its “Renouveau 2030” strategic plan, its Business Plan, and the objectives aimed at adapting and strengthening its financial structure to support these initiatives. On that occas
Slide 34: Conclusion
3 CONCLUSION Philippe Palazzi Chief Executive Officer H1 2026 Financial data estimates (unaudited) – 30 July 2026 34
Slide 35: Next step: in full swing execution
Next step: in full Swing execution GROW SUSTAIN RECOVER RESTORE expansion Definition Update & 2028 2030 2024 2025 2026 2027 2028 2029 2030 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Launch of balance sheet structure adaptation & strengthening 2030 H1 2026 Financ
Slide 36: 2026 financial objective: free cash flow break even
2026 financial objective BREAK EVEN FREE CASH FLOW BEFORE FINANCIAL EXPENSES vs €(120)m in 2025 H1 2026 Financial data estimates (unaudited) – 30 July 2026 36
Slide 37: Q&A Session
4 Q&A SESSION H1 2026 Financial data estimates (unaudited) – 30 July 2026 37
Slide 38: Appendices
5 APPENDICES H1 2026 Financial data estimates (unaudited) – 30 July 2026 38
Slide 39: Store network as at 30 June 2026
Store network as at 30 June 2026 June 2025 Sept. 2025 Dec. 2025 Mar. 2026 June 2026 Monoprix 617 622 624 623 620 o/w integrated stores France 318 312 283 281 260 o/w franchises/BL 299 310 341 342 360 Franprix 1,031 1,012 999 1,005 1,002 o/w integrated stores France 299 298 296 296 291 o/w franchises
Slide 40: Net Debt Structure as of 30 June 2026
Net Debt Structure as of 30 June 2026 June 2025 Dec. 2025 June 2026 June 2026 June 2026 In €m Total Total Non-current Current Gross borrowings and debt (1,980) (2,800) (2,743) (1) (2,742) Reinstated Monoprix RCF (70) (711) (711) - (711) Reinstated Term Loan (1,390)1 (1,404)1 (1,410) - (1,410) HY Qua
Slide 41: Disclaimer
DISCLAIMER This presentation contains forward-looking information and statements about Casino. Forward-looking statements are statements that are not historical facts. These statements include financial forecasts and estimates and their underlying assumptions, statements regarding plans, objectives,
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