Casino, Guichard-perrachon Sa · EURONEXT:CO
Casino, Guichard-perrachon Sa — Shareholder Meeting (May 2022)
73 slides from Casino, Guichard-perrachon Sa's shareholder meeting presentation, May 10, 2022
Slide 1: 2022 Annual General Meeting
Tuesday, 10 May 2022 2022 ANNUAL GENERAL MEETING 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 2: Introduction
Introduction Jean-Charles Naouri Chairman and Chief Executive Officer 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 3: Contents
Contents Highlights Presentation by the Management Team Financial results Corporate social responsibility Governance and compensation Resolutions Reports of the Statutory Auditors 3 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 4: Highlights
Highlights Jean-Charles Naouri Chairman and Chief Executive Officer 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 5: Introduction (1/3)
Introduction (1/3) » In France, the Group's key geographies, such as Paris and south-east France, were particularly hard hit by the 2020-2021 health crisis (decline in customer traffic and tourist numbers, restricted access to stores) » In this environment, the Group has undergone a deep transformat
Slide 6: Introduction (2/3)
Introduction (2/3) » Cdiscount's business model has been completely transformed over the last two years, shifting from a model based on direct sales to one based on the marketplace, digital marketing and a decrease in direct sales, pending the major start-up of its B2B activities (Octopia) in 2022.
Slide 7: Introduction (3/3)
Introduction (3/3) » Amid the ongoing normalisation of the health situation, the completion of the transformation plans and the continued expansion of convenience and e-commerce formats will enable the Group to aim for a return to growth in France in 2022 in profitable and cash-flow generating forma
Slide 8: 2021 highlights – France
2021 highlights – France Refocus on the most buoyant and structurally profitable formats » The Group is now refocused on the most buoyant formats (premium, convenience, e-commerce), which represent 76% of its sales (+16 pts vs. 2018) › Further increase in the retail banners'1 EBITDA margin to 9.1% (
Slide 9: Q1 2022 highlights - France
Q1 2022 highlights - France Sequential improvement in net sales Change in same-store sales 4 weeks Q3 Q4 Q1 to 2021 2021 2022 17 April1 Hypermarkets -8.5% -4.7% -1.2% +5.2% Supermarkets -2.7% -3.3% -2.5% -3.5% Convenience -1.3% -0.7% +3.7% +3.6% Casino banners -4.5% -3.3% -0.5% +1.5% Monoprix -4.1%
Slide 10: 2021 highlights - Latin America
2021 highlights - Latin America Three assets well-adapted to their respective markets and ready to accelerate growth: Net sales EBITDA Trading profit Change Change Change Change Change Change 2021 over 1 over 2 2021 over 1 over 2 2021 over 1 over 2 In €m year 1 years1 year2 years2 year2 years2 Éxito
Slide 11: 2021 highlights - Latin America
2021 highlights - Latin America Faster growth for Assaí and development of GPA in buoyant formats » 2021 highlights include: Assaí gross sales › Assaí's listing on the Novo Mercado and the New York Stock (In R$bn) Exchange in March 2021, following the spin-off from GPA in +30% p.a. late 2020 100 › S
Slide 12: Q1 2022 highlights - Latin America
Q1 2022 highlights - Latin America Excellent performance from Assaí and Grupo Éxito Total Organic Same-store Net sales (in €m) Q1 2022 growth growth growth1 GPA 746 -24.6% -33.8% +1.0% Assaí 1,948 +36.1% +21.1% +6.7% Grupo Éxito 1,012 +18.5% +20.3% +20.8% Total Latam 3,706 +13.2% +5.8% +9.7% » In Br
Slide 13: 2021 sales in France
2021 sales in France 13 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 14: Buoyant formats
Business review – France 76% of net sales now generated by buoyant formats (+16 pts vs. 2018) % net sales by segment Casino 2018 Casino 2021 Market average1 Cdiscount 9% 13% 6% Buoyant formats Convenience 14% (Franprix, Vival, etc.) 18% 43% 37% Supermarkets +16 pts (Monoprix, 37% 76% Casino Supermar
Slide 15: 1. Retail banners – France
1. Retail banners – France Acceleration on the strategic priorities » 730 convenience stores opened since January 2021 in urban (Franprix, Naturalia, Monop'), semi-urban and rural (Spar, Vival, etc.) areas › Franchise development model with low capital intensity » Group performance now in line with
Slide 16: More than 210,000 Casino and Monoprix subscribers
1. Retail banners – France More than 210,000 Casino and Monoprix subscribers » In 2019, Casino Group began to offer subscriptions giving customers a 10% discount1 in Casino (Casino Max Extra) and Monoprix (Monopflix) stores › Casino banners (launched in 2019): pioneer subscription, common for Géant
Slide 17: E-commerce: home delivery up +48%
1. Retail banners – France E-commerce: home delivery up +48% » Strong momentum in home delivery , up +48% (vs. +25% for the market1), with strong leadership in the Ile de France region2 › Including Drive, food e-commerce grew by +15% (+6% for the market1) » The Group is supported by technological pa
Slide 18: Digital tools to enhance customer service and operations
1. Retail banners – France Digital tools to enhance customer service and operations » A unique omni-channel experience › Fully digitalized customer journey, thanks to the use of smartphones to scan and pay for products › 63% of sales in Géant hypermarkets and Casino supermarkets made via smartphone
Slide 19: New purchasing partnership with Intermarché
1. Retail banners – France New purchasing partnership with Intermarché » In September 2021, Casino Group and Intermarché launched the AUXO purchasing partnership › This long-term (five-year) partnership is designed to provide long-term visibility to large industrial groups › It covers a wide range o
Slide 20: 2. Cdiscount
2. Cdiscount Continuation of the long-term strategy: expansion of the marketplace and digital marketing; acceleration of B2B activities GMV – marketplace (€bn) » Solid performance in 2021 after an exceptional 2020 +22% » Radical change in the model, with a mix focused on more 1,5 1,5 1,2 profitable
Slide 21: 3. relevanC
3. relevanC Ongoing development of a fast-growing business » Ongoing development and strategic expansion for relevanC › Launch of Infinity Advertising in partnership with Intermarché to provide retail media and promotional targeting services for food brands (cumulative base of 17 million profiles) ›
Slide 22: 4. GreenYellow
4. GreenYellow Strong activity momentum in 2021 » Increase of +31% in photovoltaic capacity installed or under construction and of +16% in energy efficiency projects installed or under construction vs. 31 December 2020 › Photovoltaic capacity installed or under construction up +31% to 740 MW (563 MW
Slide 23: 5. CSR
5. CSR A recognised CSR commitment » CSR commitment recognised by leading non-financial rating agencies › Ranked as the no. 1 retailer and no. 8 global company in Moody's ESG ranking in 2021 » Commitment to a -38% reduction in carbon emissions by 20301 › Reduction in Group carbon emissions by -12% i
Slide 24: Outlook – France
Outlook – France Since all formats are profitable, the focus is on organic growth » In 2021, the Group completed its repositioning in structurally buoyant formats with a very satisfactory profitability level » In 2022, as the health situation gradually gets back to normal and in light of the latest
Slide 25: Presentation by the Management Team
Presentation by the Management Team 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 26: Tina Schuler, CEO of Casino Supermarchés, Géant Casino and Casino Proximités
Presentation by the Management Team Tina Schuler Chief Executive Officer of Casino Supermarchés, Géant Casino and Casino Proximités 26 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 27: Guillaume Seneclauze, Chairman of Monoprix and Naturalia
Presentation by the Management Team Guillaume Seneclauze Chairman of Monoprix and Naturalia 27 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 28: Cécile Guillou, CEO of Franprix
Presentation by the Management Team Cécile Guillou Chief Executive Officer of Franprix 28 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 29: Emmanuel Grenier, CEO of Cnova NV and Cdiscount
Presentation by the Management Team Emmanuel Grenier Chief Executive Officer of Cnova NV and Chairman and Chief Executive Officer of Cdiscount 29 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 30: Otmane Hajji, Chairman of GreenYellow
Presentation by the Management Team Otmane Hajji Chairman of GreenYellow 30 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 31: Belmiro Gomes, CEO of Assaí
Presentation by the Management Team Belmiro Gomes Chief Executive Officer of Assaí 31 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 32: Marcelo Pimentel, CEO of GPA
Presentation by the Management Team Marcelo Pimentel Chief Executive Officer of GPA 32 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 33: Carlos Mario Giraldo, CEO of Grupo Éxito
Presentation by the Management Team Carlos Mario Giraldo Chief Executive Officer of Grupo Éxito 33 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 34: Financial results
Financial results David Lubek Chief Financial Officer 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 35: 2021 key figures
2021 key figures Net sales and EBITDA At constant exchange rates In €m Change over Change over 2019 2020 2021 1 year 2 years Net sales – Group 34,645 31,912 30,549 -0.8% +6.9% o/w France Retail 16,322 15,219 14,071 -5.4% -2.6% Same-store basis o/w retail banners1 15,494 14,813 14,071 -5.4% -2.6% o/w
Slide 36: Results – France Retail
Results – France Retail Retail banners' EBITDA margin up Change Change In €m – France Retail 2019 2020 2021 over 1 year over 2 years Net sales 16,322 15,219 14,071 -5.4%1 -2.6%1 EBITDA Retail banners2 1,282 1,304 1,281 -1.7% -0.0% EBITDA margin (%) 8.3% 8.8% 9.1% +31 bps +83 bps Vindémia 53 22 0 n.a
Slide 37: Results – E-commerce (Cdiscount)
Results – E-commerce (Cdiscount) All indicators up over two years after an exceptional year in 2020 Change Change In €m – E-commerce (Cdiscount) 2019 2020 2021 over 1 over 2 year years GMV 3,899 4,204 4,206 +0.0% +7.9% o/w marketplace 1,245 1,514 1,518 +0.2% +22% o/w direct sales 1,991 1,934 1,840 -
Slide 38: Results – Latin America
Results – Latin America EBITDA up +29% on 2019 at constant exchange rates and excluding tax credits At constant exchange rates Change Change over 1 over 2 In €m 2019 2020 2021 year years Consolidated net sales 16,358 14,656 14,448 +6.0% +23% o/w Assaí 6,293 6,095 6,568 +17%1 +51%1 o/w GPA Brazil 5,9
Slide 39: Underlying net profit, Group share
Underlying net profit, Group share Underlying net profit, Group share of €94m, down due to tax credits and property development Underlying net profit, Group share In €m 2020 2021 Trading profit and share of profit of equity-accounted investees 1,471 1,242 o/w tax credits in Brazil 139 28 o/w propert
Slide 40: Asset disposal plan
Asset disposal plan Total asset disposals of €3.3bn Cumulative disposal Date Sold assets proceeds ▷ €213m: 15% of Mercialys’ share capital ▷ €742m: Monoprix real estate assets 2018 €1.1bn ▷ €150m: GreenYellow capital increase ▷ R2C ▷ €392m: sales to Fortress 2019 €1.8bn ▷ €327m: sales to Apollo
Slide 41: Change in net debt
Change in net debt Net debt of €5.9bn Net debt before IFRS 5 5,858 5,657 5,351 1 122 1 587 4,634 1 122 882 4 736 4 069 4 229 3 751 2019 2020 2021 2021 pro-forma for the reversal of end-2021 France Latam retail working capital effects and disposals in early 2022 » Net debt before IFRS 5 of €5.9bn inc
Slide 42: Change in net debt
Change in net debt Change in net debt in Q1 2022 Change in net debt over 12 months1 FY 2021 T1 2022 -259 -828 +€569m » In France1, the change in net debt over 12 months is reduced from -€828m at end-2021 to -€259m at end-March 2022, reflecting a +€569m improvement in cash flow including: › Operation
Slide 43: Simplified Group cash flow statement for 2021
Simplified Group cash flow statement for 2021 Continuing operations In €m SOURCES USES Cash flow from continuing Gross capital operations, including lease 1,112 1,131 expenditure payments1 Change in working capital (26) Income taxes 184 Free cash flow2 (229) 1 Of which lease payments, i.e., payments
Slide 44: Work of the Shareholders' Consultative Committee in 2021
Work of the Shareholders' Consultative Committee in 2021 » Meeting of 24 September 2021 › Recap of the Annual General Meeting of 12 May 2021 and H1 2021 results › Discussion with Cécile Guillou, Chief Executive Officer of Franprix, on the banner’s ambitions » Meeting of 25 March 2022 › Recap of 2021
Slide 45: Corporate social responsibility
Corporate social responsibility Matthieu Riché Group CSR Director 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 46: A Group recognized for its ESG performance
A Group recognized for its ESG performance » Casino Group has long been committed to responsible retailing › It has been a signatory to the United Nations Global Compact since 2009 and the Women's Empowerment Principles since 2016 › Since 2009 and 2013, it has held the Diversity Label and Workplace
Slide 47: A responsible employer, committed to equal opportunities
A responsible employer, committed to equal opportunities » An employer recognised for its human resources policy › Monoprix and Casino have received Top Employer certification and Cdiscount has been named a Great Place to Work, reflecting their high-quality human resources policies and excellent pra
Slide 48: A proactive Group engaged in the climate transition
A proactive Group engaged in the climate transition » Five years ahead of schedule, Casino Group has achieved its climate objectives approved by the Science Based Target Initiative -20% reduction in Group greenhouse 2030 objective: gas emissions in 2021 vs. 2015, ahead of the target reduction of -18
Slide 49: A more responsible product offering for our customers
A more responsible product offering for our customers » Through its banners, the Group offers a wide range of organic and agro-ecological products › Casino is also developing a wide range of complementary products that are guaranteed to be pesticide-free and have HVE (High Environmental Value) certi
Slide 50: A more responsible product offering for our customers
A more responsible product offering for our customers » A Group committed to the protection of native forests › The Group participates in working groups with stakeholders to set high standards and combat deforestation » Combating deforestation caused by raw materials › The Group supports key initiat
Slide 51: A more responsible product offering for our customers
A more responsible product offering for our customers » Transforming the beef supply chain in Latin America › Casino Group is deploying a policy to audit and improve South American meat suppliers • In Brazil, 100% of suppliers must declare and audit the farms that supply their slaughterhouses using
Slide 52: Community outreach
Community outreach » Four foundations supporting children and some 100,000 beneficiaries The Casino Foundation supports The Monoprix Foundation is The Exito Foundation some 50 theatre projects committed to combating fights child malnutrition with the introducing 4,000 children to art loneliness on t
Slide 53: Governance and compensation
Governance and compensation Thierry Billot Independent Lead Director, Chairman of the Governance and CSR Committee 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 54: Composition of the Board of Directors
Composition of the Board of Directors » 14 members, including 6 women (43%) » Independence rate: 36% » 3 new independent members appointed in 2021 54 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 55: Busy year for the Board and its Committees in 2021
Busy year for the Board and its Committees in 2021 11 Board meetings » Board of Directors › Strong engagement of Directors: 96% attendance rate › Main points addressed: ▫ 2021-2023 strategy for the Group (including CSR) and the banners and monitoring of its implementation ▫ Financial position and ra
Slide 56: Work of the Board Committees in 2021
Work of the Board Committees in 2021 25 meetings 56 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 57: Composition of the Board of Directors
Composition of the Board of Directors Proposals submitted to the Annual General Meeting (8th to 11th resolutions) » Re-election of 3 Directors whose terms are expiring (9th to 11th resolutions) › Jean-Charles Naouri, Chairman and CEO, and the Group’s controlling shareholder › Finatis (represented by
Slide 58: Compensation of the Chairman and CEO in respect of 2021
Compensation of the Chairman and CEO in respect of 2021 Resolution 5 2021 structure » Fixed compensation paid in 2021: €480,000 » Variable compensation for 2021 to be paid in 2022: €96,250* » Directors’ compensation for 2021: €12,500 FIXED » LTI bonus for 2019-2021 granted in 2019 to be COMPENSATION
Slide 59: Compensation of the Chairman and CEO in respect of 2022
Compensation of the Chairman and CEO in respect of 2022 Resolution 6 2022 structure 21% FIXED 79% OF COMPENSATION SUBJECT TO COMPENSATION PERFORMANCE CONDITIONS 47% LTI 2022-2024 32% ANNUAL VARIABLE COMPENSATION = 150% of fixed compensation QUANTITATIVE FINANCIAL OBJECTIVES THREE-YEAR OBJECTIVES (TA
Slide 60: Compensation of non-executive Directors in respect of 2022
Compensation of non-executive Directors in respect of 2022 Resolution 7 Directors . Increased from €25,000 to €30,000, comprising a fixed component of €8,500 and a variable component of €21,500 (vs. €16,500 previously), based on attendance at meetings . Limited to €15,000 (fixed: €4,250; variable: €
Slide 61: Resolutions
Resolutions Patrice Arpal Secretary of the Meeting 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 62: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting First and second resolutions » Approval of the 2021 parent company and consolidated financial statements Third resolution » Allocation of profit › 2021 loss: €674,929,675.33 › Retained earnings: €4,186,774,453.89 › Allocation to Retained earni
Slide 63: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting Fourth resolution Sixth resolution » Approval of the information » Approval of the compensation referred to in policy for the Chairman and Article L. 22-10-9 I of the Chief Executive Officer in French Commercial Code respect of financial year
Slide 64: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting Eighth resolution Twelfth resolution » Ratification of the temporary » Election of KPMG S.A. as appointment of Carpinienne Statutory Auditor de Participations as Director Ninth to eleventh resolutions Thirteenth resolution » Re-election as Dir
Slide 65: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting Fourteenth resolution » Authorisation for the Company to buy back its own shares › 10% of the capital at the date of this Annual General Meeting › Maximum purchase price: €100 per share › Authorisation valid for: 18 months › Use when a public
Slide 66: Presentation of the resolutions
Presentation of the resolutions Extraordinary General Meeting Fifteenth resolution » Authorisation granted to the Board of Directors for the purpose of reducing the share capital via the cancellation of own shares › Authorisation valid for: 26 months › Limit: 10% of the capital at the cancellation d
Slide 67: Reports of the Statutory Auditors
Reports of the Statutory Auditors 2022 Annual General Meeting – Tuesday, 10 May 2022
Slide 68: 2021 Universal Registration Document
2021 Universal Registration Document » List of reports Report on the parent company financial statements Report on the consolidated financial statements Special report on related party agreements Special reports to the Extraordinary Shareholders' Meeting 68 2022 Annual General Meeting – Tuesday, 10
Slide 69: Casino, Guichard-Perrachon parent company financial statements
Casino, Guichard-Perrachon parent company financial statements Universal Registration Document: pages 157 to 161 Resolution 1 Unqualified opinion on the financial statements, without any emphasis of matter “In our opinion, the financial statements give a true and fair view of the assets and liabil
Slide 70: Casino, Guichard-Perrachon consolidated financial statements
Casino, Guichard-Perrachon consolidated financial statements Universal Registration Document: pages 41 to 47 Resolution 2 Unqualified opinion on the financial statements, including an emphasis of matter regarding the change in accounting method relating to the retrospective application of the IFRS
Slide 71: Casino, Guichard-Perrachon related party agreements
Casino, Guichard-Perrachon related party agreements Universal Registration Document: page 188 Agreements submitted for approval to the Annual General Meeting No agreements authorised and concluded during the year were to be submitted to the approval of the Annual General Meeting pursuant to Articl
Slide 72: Statutory Auditors' special reports
Statutory Auditors' special reports Purpose of the report Resolution 15: delegation of powers to the Board of Directors, for a period of 26 months, to cancel own shares, within a limit per 24-month period of 10% of the share capital Specific verifications Resolution 15: no matters to report as t
Slide 73: 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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