Carrefour Sa · EURONEXT:CA
Carrefour Sa — Q4 2017 Earnings Presentation
10 slides from Carrefour Sa's earnings presentation, Jan 17, 2018
Slide 1: Q4 2017 Sales
Q4 2017 SALES January 17th, 2018
Slide 2: Total FY 2017 Sales: +2.7% growth at constant exchange rates in a challenging environment
Total FY 2017 Sales: +2.7% growth at constant exchange rates in a challenging environment CHANGE IN FY 2017 SALES +0.3% +3.0% +1.6% +0.5% +2.2% -0.5% +0.8% +0.2% +2.7% €88.2 bn €85.7 bn FY 2016 LFL Store FY 2017 Calendar Acquisitions/ Petrol FY 2017 Forex FY 2017 ex petrol openings/ organic Disposal
Slide 3: 2017 outlook: A difficult year
2017 outlook: A difficult year ● Slowing sales momentum in 2017: +1.6% LFL in the full year vs +3.0% in 2016, reflecting a slowdown in food sales, notably in the second half mainly due to food deflation in Brazil ● Full-year 2017 Recurring Operating Income is expected close to €2.00bn, down -15% at
Slide 4: Q4 sales key takeaways
Q4 sales key takeaways ● Improved LFL in Q4 vs. Q3; Q4 in line with H1 ● Rebound in LFL sales in France after an atypical Q3 ● Growth in Belgium, Poland and Romania; tough comparables in Southern Europe ● Sales growth at constant exchange rates in Latin America, but penalized by sharp food deflation
Slide 5: Total Q4 Sales: +2.3% growth at constant exchange rates
TOTAL Q4 SALES: +2.3% growth at constant exchange rates CHANGE IN Q4 SALES +1.9% +2.4% -0.6% +0.8% +2.3% +0.5% -0.3% -2.5% -0.2% €23.4 €23.3 bn Group LFL ex petrol ex calendar bn 2,9% 2,8% 1,9% 1,4% 0,5% Q4 Q1 Q2 Q3 Q4 2016 2017 2017 2017 2017 Q4 2016 LFL Store Q4 2017 Calendar Acquisitions/ Petrol
Slide 6: France: LFL growth in all formats
France: LFL growth in all formats Total Sales Hypermarkets Supermarkets Other formats France LFL ex petrol ex calendar 1,9% Sales inc. VAT (€m) 10,706 5,757 3,303 1,647 1,5% 0,7% 0,5% Total variation -0.5% 0.0% -2.9% +2.9% -0,9% LFL ex petrol ex calendar +1.5% +0.7% +1.0% +5.6% Q4 Q1 Q2 Q3 Q4 2016 2
Slide 7: Europe: Q4 LFL sales in-line with Q3
Europe: Q4 LFL sales in-line with Q3 Europe Spain Italy Belgium Poland Romania Europe LFL ex petrol ex calendar 3,4% Sales inc. VAT (€m) 6,509 2,681 1,457 1,189 612 570 2,5% 0,9% Total variation +3.4% +6.0% -1.3% +0.3% +7.3% +6.6% 0,6% 0,4% LFL ex petrol ex calendar +0.4% -0.6% -1.1% +0.8% +1.9% +7.
Slide 8: Latin America: Continued growth despite food deflation in Brazil; strong currency impact
Latin America: Continued growth despite food deflation in Brazil; strong currency impact LatAm LFL ex petrol ex calendar Carrefour LatAm Brazil Atacadão Argentina 10,8% Retail Sales inc. VAT 4,673 3,745 1,315 2,429 928 7,8% (€m) 6,9% 5,9% Total variation -2.4% -2.7% -6.1% -0.8% -0.9% 4,4% Variation
Slide 9: Asia: Unchanged trend; solid growth in Taiwan
Asia: Unchanged trend; solid growth in Taiwan Asia China Taiwan Asia LFL ex petrol ex calendar Sales inc. VAT (€m) 1,439 1,019 419 Total variation -5.4% -9.1% +5.0% -3,0% -3,0% Variation at constant FX -0.7% -3.9% +8.5% -4,2% -4,0% -4,7% LFL ex petrol ex calendar -3.0% -5.4% +3.5% Q4 Q1 Q2 Q3 Q4 FX
Slide 10: Disclaimer
This presentation contains both historical and forward-looking statements. These forward-looking statements are based on Carrefour management's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performances may differ materially f