Carrefour Sa · EURONEXT:CA
Carrefour Sa — Q1 2025 Earnings Presentation
18 slides from Carrefour Sa's earnings presentation, Apr 24, 2025
Slide 1: Q1 2025 Sales
Q1 2025 Sales April 24th, 2025
Slide 2: 1Q25: LFL dynamic in line with 4Q24; consistent with FY25 trajectory
1 1Q25: LFL dynamic in line with 4Q24; consistent with FY25 trajectory Group sales up +2.9% LFL in Q1 • France: Sequential improvement in LFL sales; market shares dynamic improving again, benefiting from price investments • Spain: Sequential improvement in LFL food sales following investments in com
Slide 3: Q1 2025 sales growth
Q1 2025 sales growth +2.3% +5.7% +2.9% (0.0)% €22,674m €22,156m (2.2)% (4.0)% Leap year in 2024 & Mostly Easter in due to April 25 BRL & vs. March ARS drop in 24 vs. Euro Q1 2024 LFL Expansion & Petrol Calendar Forex Q1 2025 Gross sales M&A Gross sales Q1 2025 SALES April 24, 2025 3
Slide 4: France: Positive market share dynamic backed by price investments
France: Positive market share dynamic backed by price investments Q1 Sales inc. VAT €10,926m €5,478m €3,609m €1,839m France Hypermarkets Supermarkets Other formats Variation vs. Q1 24 +9.3% +14.0% +6.4% +2.1% LFL ex. petrol -1.7% -3.6% -1.3% +1.9% ex. calendar Slight sequential improvement in LFL sa
Slide 5: Le Club: A powerful program driving loyalty and competitiveness
Le Club : A powerful program driving loyalty and competitiveness • Launched on January 13th 2025 • Common to all formats and online • Increasing customer loyalty and supporting price investments • 10% everyday rebate on Carrefour Organic products and all fruits & vegetables (-15% for Carrefour Pass
Slide 6: Cora France & Match integration progressing per plan; synergies confirmed
Cora FRANCE & Match integration progressing per plan; synergies confirmed Cora & Match acquisition Deal cleared by the French Competition €130m run-rate EBITDA Authority on March 13, 2025 Confirmed synergies by 2027 Limited remedies: 5 hypermarkets and 3 supermarkets (with total revenue of c. €300m
Slide 7: Europe: Strengthened price investments in competitive markets
Europe: Strengthened price investments in competitive markets Q1 Sales inc. VAT €6,032m €2,714m €951m €1,059m €745m €564m Europe Spain Italy Belgium Romania Poland Variation vs. Q1 24 -2.0% -0.1% -8.2% -3.9% +2.7% -2.2% LFL ex. petrol +0.3% +1.4% -1.7% -1.1% +2.7% -1.9% ex. calendar Spain: Good mome
Slide 8: Spain: Strategy at work
Spain: Strategy at work A dynamic market with positive volumes and slight inflation in Q1 Positive topline momentum driven by volumes Food sales up 2.5%, Non Food up 1.1% w/o TV sales (strong positive one off in Q1 2024 related to the change in TV norms) Stable market share in volume in Q1 Good cred
Slide 9: LatAm: Continued sound growth in Brazil, Argentina performs well
LatAm: Continued sound growth in Brazil, Argentina performs well Q1 Sales inc. VAT €5,716m €4,677m €3,361m €1,044m €1,039m €272m (1) Latin America Brazil Atacadão Carrefour Retail Sam's Club Argentina Variation vs. Q1 24 -4.7% -9.5% -6.3% -18.2% -10.9% +24.8% LFL ex. petrol +12.2% +5.4 % +6.9% +2.6%
Slide 10: Brazil: Cash & Carry maintains above market sales momentum
Brazil: Cash & Carry maintains above market sales momentum Continued strong LFL sales growth at Atacadão (+6.9% in Q1 25), outperforming Cash & Carry market and key peers Steady performance of converted stores from former Grupo BIG, with LFL growth of 15.1% (on top of 20.9% LFL growth in Q1 24) LFL
Slide 11: Key takeaways
Key takeaways 1 Price investments continuing and bearing fruits in France and Europe 2 Ongoing positive momentum in Latin America 3 Sound implementation of the 2025 cost savings plan 4 FY 2025 financial targets confirmed Q1 2025 SALES April 24, 2025 11
Slide 12: Appendix
a © APPENDIX
Slide 13: Acquisition of the outstanding shares in Carrefour Brazil
Acquisition of the outstanding shares in Carrefour Brazil Improved acquisition offer for minority shareholders Option 1 R$8.50 payable in cash for each share (100% cash) of Atacadão A 50/50 mix of cash and Carrefour shares or Brazilian Depositary Receipts Option 2 (‘BDRs’), i.e. R$4.25 payable in ca
Slide 14: CSR – Q1 achievements
CSR – Q1 achievements • Health: • In January, Carrefour announced its target to become leader on the sales of “free” products with €1bn in sales by 2030 and to offer its customers the widest range on 4 categories of products: gluten-free, lactose-free, nitrite-free and alcohol-free • Climate: • Carr
Slide 15: Q1 2025 gross sales
Q1 2025 gross sales Change at Change at LFL Organic growth Gross sales current constant ex. petrol ex. petrol (in €m) exch. rates inc. exch. rates inc. ex. calendar ex. calendar petrol petrol France 10,926 -1.7% -1.9% +9.3% +9.3% Hypermarkets 5,478 -3.6% -4.3% +14.0% +14.0% Supermarkets 3,609 -1.3%
Slide 16: Q1 2025 technical effects
Q1 2025 technical effects Calendar Petrol Forex France -2.1% -0.4% - Hypermarkets -2.6% +0.7% - Supermarkets -1.8% -2.0% - Others, inc. convenience -1.1% -0.6% - Other European countries -2.2% -0.2% +0.3% Spain -1.7% -0.6% - Italy -3.4% -0.1% - Belgium -2.1% - - Romania -0.9% - -0.1% Poland -4.0% +1
Slide 17: Stores under banners at end Q1 2025
Stores under banners at end Q1 2025 Cash & Soft (#) Hypermarkets Supermarkets Convenience Sam’s Club Total Carry discount France 325 1,162 4,828 155 37 - 6,507 Other European countries 467 2,248 3,247 12 103 - 6,077 Spain 204 163 1,094 - 69 - 1,530 Italy 41 318 814 12 - - 1,185 Belgium 40 348 321 -
Slide 18: Disclaimer
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