Slide 1: Q4 2008 Sales
Q4 2008 Sales 15 January 2009 www.groupecarrefour.com
Slide 2: Agenda
Agenda I‐ Key 2008 highlights II‐ Focus on Q4 2008 III‐ Conclusion 2
Slide 3: A contrasted and volatile 2008 year
A contrasted and volatile 2008 year Solid growth in sales and cash flow in a difficult environment marked by: Global economic slowdown Unusual and contrasted trading patterns impacting consumer trends and behaviour • more focus on promotions in food, sharp slowdown on discretionary spending, marked
Slide 4: But a resilient performance in 2008
But a resilient performance in 2008 Group sales: +6.3% at constant exchange rates Solid organic sales growth: +4.5% for the year (excl. acquisitions) Expected operating free cash flow generation of €1.5bn Estimated 2008 Activity Contribution to grow slightly compared to 2007 Confirmation of our revi
Slide 5: Key highlights of full-year 2008 sales
Key highlights of full‐year 2008 sales Good resilience in France: sales up 1% Sustained growth in Spain (+5.5%) in a very difficult environment Excellent contribution from growth markets: +19.7% at constant exchange rates. Growth in sales across all geographic regions despite a difficult environment
Slide 6: Key highlights of full-year 2008 sales
Key highlights of full‐year 2008 sales Sales Growth (at constant exchange rates) Total France Growth +6.3% Western Europe* markets** +1% +2.5% +19.7% FY 07 FY 08 FY 07 FY 08 FY 07 FY 08 FY 07 FY 08 *Western Europe: Spain, Italy and Belgium **Growth markets: markets other than France, Spain, Italy an
Slide 7: Agenda
Agenda I‐ Key 2008 highlights II‐ Focus on Q4 2008 III‐ Conclusion 7
Slide 8: Q4 2008: slowing sales in a tougher environment
Q4 2008: slowing sales in a tougher environment France: sales down 1.5% over the quarter (excl. petrol) Western Europe markets: total sales down 0.9% Growth markets: +11.8% at constant exchange rates Group sales: +1.9% at constant exchange rates 8
Slide 9: Q4 2008: slowing sales in a tougher environment
Q4 2008: slowing sales in a tougher environment Sales Growth (at constant exchange rates) Total France Western Europe Growth markets +1.9% ‐2.3% ‐ 0.9% +11.8% 1 404 1 404 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 9
Slide 10: France: good performance by supermarkets and convenience stores
France: good performance by supermarkets and convenience stores Slowdown in hypermarkets in a tougher environment: like for like sales down 3.3% (excl. petrol) • Food sales: ‐2%, continuation of the switch from manufacturer brands to our brands and a slowdown in inflation • Non‐food sales: ‐5.8%, ma
Slide 11: France: like-for-like sales per format
France: like‐for‐like sales per format Like for like Sales Growth (ex petrol) Hypermarkets Supermarkets Convenience Hard discount Total France ‐1.6% ‐3.3% + 2% +2.1% ‐3.9% Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 11
Slide 12: Slowing sales in Western Europe
Slowing sales in Western Europe Slowdown in Spain in a tougher environment: sales up 0.2%, despite strong comparatives Hypermarkets: like‐for‐like sales down 5.3% Carrefour Express: like‐for‐like sales up 1.1% Dia: like‐for‐like sales up 2.7% Stabilisation in trends in Italy and Belgium Italy: sales
Slide 13: Slowing sales in Western Europe
Slowing sales in Western Europe Sales Growth (at constant exchange rates) Western Europe (ex. France) Spain Italy Belgium ‐0.9% +0.2% ‐1.8% ‐3.3% Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 13
Slide 14: Sustained increase in sales in growth markets
Sustained increase in sales in growth markets Strong growth in Latin America: +19.6% at constant exchange rates • Brazil: +15.9% at constant exchange rates • Argentina: +35.1% at constant exchange rates Seven countries posted double‐digit growth at constant exchange rates Slowdown in Asia and Europe
Slide 15: Sustained increase in sales in growth markets
Sustained increase in sales in growth markets Sales Growth (at constant exchange rates) Growth markets Total Latin America Asia Growth markets Europe +11.8% +19.6% +6.9% +5% 1 404 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 Q4 07 Q4 08 15
Slide 16: Agenda
Agenda I‐ Key 2008 highlights II‐ Focus on Q4 2008 III‐ Conclusion 16
Slide 17: Conclusion
Conclusion Solid increase in 2008 sales and operating Free Cash Flow in a very tough environment that weighed on Activity Contribution Continuous challenging environment in 2009 Specific focus on: • customers • market share • capex discipline • cost management Next financial update: 2008 Annual Resu