Slide 1: Q3 2008 Sales
Q3 2008 Sales 23 October 2008 www.groupecarrefour.com
Slide 2: Agenda
Agenda I- Introduction and Q3 2008 highlights II- The detailed picture III- Conclusion 2
Slide 3: Strong performance in a challenging environment
Strong performance in a challenging environment Group sales: +6.8% in Q3 at constant exchange rates (7,0% in total) Solid organic growth: +5.9% in Q3 (excl. Acquisitions) Growth in all geographic regions On track to attain 2008 objectives 3
Slide 4: Key highlights of Q3 2008
Key highlights of Q3 2008 Improved performance of French hypermarkets: total sales up 2.3% Continued strong contribution from our growth markets: total sales up 16.5% (incl. currency) Strength of the Carrefour brand • Strong performance of newly-converted Carrefour Market stores • Continued growth o
Slide 5: Agenda
Agenda I- Introduction and Q3 highlights II- The detailed picture III- Conclusion 5
Slide 6: Growth in all formats in France
Growth in all formats in France Total Sales incl. VAT (€m, at current exchange rates) France Hypermarkets Supermarkets Hard discount +3.5% +2.3% +4.1% +1% 10,766 10,404 5,690 2,342 683 1 404 1 404 676 5,560 2,250 1 404 Q3 07 Q3 08 Q3 07 Q3 08 Q3 07 Q3 08 Q3 07 Q3 08 6
Slide 7: Growth in all formats in France
Growth in all formats in France Improved performance by French hypermarkets driven by promotional activity: like-for-like sales up 2.1% (incl. petrol) • Food sales: up 1% • Non-food sales: down 3.3%, an improvement compared with -8.6% in H1 • Average basket: up 1.5%, and traffic: down 1.9%, an impro
Slide 8: Good resilience in mature European markets
Good resilience in mature European markets Total Sales incl. VAT (€m, at current exchange rates) Western Europe (ex France) Italy Spain Belgium +3.5% Stable +6.6% -1.4% 6,751 3,885 6,491 1,705 1,704 1 404 1 404 1,141 1,125 3,646 1 404 Q3 07 Q3 08 Q3 07 Q3 08 Q3 07 Q3 08 Q3 07 Q3 08 8
Slide 9: Good resilience in mature European markets
Good resilience in mature European markets Further solid growth in Spain despite tough environment: sales up 6.6% • Hypermarkets: like-for-like sales up 0.6% • Carrefour Express: like-for-like sales up 7.5% • Dia: like-for-like sales up 3.2% Sales in Italy are stable • Hypermarkets: total sales up 1
Slide 10: Strong performance in growth markets
Strong performance in growth markets Total Sales incl. VAT (€m, at current exchange rates) Growth markets Total Latin America Asia Growth markets +16.5% Europe +22.8% +10.2% +13.3% 7,242 6,214 3,200 2,343 1,699 1 404 1 404 1,542 1 404 2,067 2,605 Q3 07 Q3 08 Q3 07 Q3 08 Q3 07 Q3 08 Q3 07 Q3 08 10
Slide 11: Strong performance in growth markets
Strong performance in growth markets Solid sales performance: +15.8% at constant exchange rates • Good growth in Brazil: sales up 16.1% • China: sales up 13.8% Nine countries delivered double-digit sales growth at constant exchange rates Growth markets: nearly 30% of Group sales versus 27% in Q3 200
Slide 12: Agenda
Agenda I- Introduction and Q3 highlights II- The detailed picture III- Conclusion 12
Slide 13: On track to attain 2008 objectives
On track to attain 2008 objectives 2008 OBJECTIVES A 7% increase in sales at constant exchange rates Growth in Activity Contribution broadly in line with sales Operating free cash flow of €1.5 billion 13
Slide 14: Continuing and deepening our action plan
Continuing and deepening our action plan In a volatile environment with limited visibility, Carrefour will: Step up promotional activity in French hypermarkets in Q4 Continue cost cutting efforts Sharpen its disciplined focus on capital expenditure on initatives linked to sales development or expans
Slide 15: Carrefour well positioned to continue growing in a challenging environment
Carrefour well positioned to continue growing in a challenging environment Essentially a food retailer: Food accounts for 72% if sales, reducing our vulnerability in times of economic downturn Multi-format: it allows us to respond to different needs of our clients Increasingly international: with a