Casino, Guichard-perrachon Sa · EURONEXT:CO
Casino, Guichard-perrachon Sa — Shareholder Meeting (May 2023)
68 slides from Casino, Guichard-perrachon Sa's shareholder meeting presentation, May 10, 2023
Slide 1: 2023 Annual General Meeting
2023 Annual General Meeting Wednesday, 10 May 2023 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 2: Introduction
Introduction Jean-Charles Naouri Chairman and Chief Executive Officer 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 3: Contents
Contents Highlights Comments from the Operational Executives Financial results Corporate social responsibility Governance and compensation Resolutions Report of the Statutory Auditors 3 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 4: Highlights
Highlights Jean-Charles Naouri Chairman and Chief Executive Officer 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 5: 2022 highlights – France
2022 highlights – France Continued improvement in the business mix » Food retail: expansion in buoyant formats › Renewed growth1 for Parisian banners and convenience stores (Casino +6.6%, Franprix +3.4% and Monop' +11.2%), in line with the upturn in tourism and consumer spending in the Paris region
Slide 6: Q1 2023 highlights – France
Q1 2023 highlights – France Acceleration in Parisian and convenience banners » Retail banners › Net sales virtually stable on a same-store basis (-0.4%) ▫ Sequential acceleration for Parisian and convenience banners, with same-store sales growth of +4.6% (after +2.8% in Q4 2022) ▫ A more difficult s
Slide 7: 2022 highlights – Latin America
2022 highlights – Latin America Very good performances from Assaí and Grupo Éxito Net Sales EBITDA Trading profit In €m 2022 Change 1 2022 Change 1 2022 Change 1 Grupo Éxito 4,424 +21% 362 +8% 228 +7% Assaí 10,016 +30% 689 +27% 514 +23% GPA 3,344 -32% 135 -52% (65) n.m. Latam 17,785 +9.7% 1,186 +2.8
Slide 8: Q1 2023 highlights – Latin America
Q1 2023 highlights – Latin America Solid performances from GPA and Grupo Éxito Total Organic Same-store Net sales (in €m) Q1 2023 growth growth growth1 GPA 808 +8.3% +3.4% +6.3% Grupo Éxito 1,036 +2.3% +16.9% +11.8% Total Latam 1,844 +4.8% +11.4% +9.5% » Group net sales in Latin America (GPA Brazil
Slide 9: 2022 sales in France
2022 sales in France 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 10: Retail banners in 2022 - France
Retail banners in 2022 - France Business driven by convenience banners and expansion ESTIMATED TOTAL NET SALES, GROSS SALES UNDER BANNER (€m) AND STORE OPENINGS BY BANNER Net sales Gross sales under banner (incl. fuel) Openings Same-store 2021 2022 change1 2021 2022 Change 2022 Convenience & Other 1
Slide 11: Retail banners in 2022 - France: strategic priorities ramp-up
Retail banners in 2022 - France Strategic priorities ramp-up » Return to growth in buoyant formats › H1: gradual return to growth in the various banners after Q1, which continued to see low tourist numbers › Q3: renewed momentum in Parisian banners › Q4: solid performance in Parisian and convenience
Slide 12: E-commerce and digital solutions: a lead in innovative solutions
Retail banners in 2022 - France E-commerce and digital solutions: a lead in the development of innovative solutions » Food E-commerce: confirmation of the validity of focusing development on home delivery and alliances with world leaders › Growth1 at +17%, outperforming the food e-commerce market, t
Slide 13: Development of an offer adapted to the cost-of-living crisis
Retail banners in 2022 - France Development of an offer adapted to the cost-of-living crisis » The Group has adapted its sales strategy to the inflationary environment › Anti-inflation basket: price of 500 products locked at less than €1 › Fuel promotions in HM/SM › Fresh produce: new arrivals every
Slide 14: Acceleration in Parisian and convenience banners
Retail banners in 2022 - France Acceleration in Parisian and convenience banners » Retail banners Change in same-store sales1 Q3 2022 Q4 2022 Q1 2023 Franprix +8.4% +5.5% +6.0% Monoprix +4.1% +1.8% +4.2% Monoprix City +4.5% +2.5% +5.2% Monop’ +12.4% +9.4% +10.0% Convenience +6.3% +4.4% +4.9% Parisia
Slide 15: Cdiscount 2022: transformation to a marketplace model
- 2022 Accelerated transformation to a marketplace model; strong growth in advertising and B2B revenues Reported Organic Key figures (in €m)1 2021 2022 growth growth Total GMV including tax 4,206 3,497 -16.8% -14.5% o/w direct sales 1,840 1,340 -27.2% o/w marketplace 1,518 1,421 -6.4% GMV contributi
Slide 16: Q1 2023 Continued transformation of the business model
- Q1 2023 Continued transformation of the business model » The transformation of the business model continues, with a sequential improvement in activity in the first quarter: › Mix evolution in favor of GMV marketplace (record 57% share of total GMV) led to gross margin growth (+6 pts) and April cur
Slide 17: Comments from the Operational Executives
Comments from the Operational Executives 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 18: Comments from the Operational Executives – Casino Banners
Comments from the Operational Executives Magali Daubinet-Salen Chief Executive Officer of Casino Banners 18 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 19: Comments from the Operational Executives – Monoprix
Comments from the Operational Executives Guillaume Sénéclauze Chairman of Monoprix and Naturalia 19 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 20: Comments from the Operational Executives – Naturalia
Comments from the Operational Executives Allon Zeitoun Chief Executive Officer of Naturalia 20 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 21: Comments from the Operational Executives – Franprix
Comments from the Operational Executives Vincent Doumerc Chief Executive Officer of Franprix 21 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 22: Comments from the Operational Executives – Cdiscount
Comments from the Operational Executives Thomas Métivier Chief Executive Officer of Cdiscount 22 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 23: Comments from the Operational Executives – Grupo Éxito
Comments from the Operational Executives Carlos Mario Giraldo Chief Executive Officer of Grupo Éxito 23 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 24: Comments from the Operational Executives – GPA
Comments from the Operational Executives Marcelo Pimentel Chief Executive Officer of GPA 24 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 25: 2022 Financial results
2022 Financial results David Lubek Chief Financial Officer 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 26: 2022 Key Figures
2022 Key Figures H2 trading profit stable at Group level and in the French Retail banners In €m H2 21 H2 22 Δ Δ at CER 20211 2022 Δ Δ at CER Net sales 16,069 17,707 +10.2% +4.0% 30,549 33,610 +10.0% +3.7% France Retail 7,207 7,270 +0.9% +0.9% 14,071 14,205 +1.0% +1.0% Cdiscount 1,083 825 -23.8% -23.
Slide 27: 2022 Results – France Retail
2022 Results – France Retail Stable trading profit in retail banners in H2, with strong growth in buoyant formats France Retail In €m H2 21 H2 22 Change 2021 2022 Change Net sales 7,207 7,270 +0.9% 14,071 14,205 +1.0% Trading profit 367 341 -7.1% 530 482 -9.1% Margin (%) 5.1% 4.7% -40 bps 3.8% 3.4%
Slide 28: 2022 Results – E-commerce (Cdiscount)
2022 Results – In a contracting post-Covid market, swift adjustment in the business mix and cost base E-commerce (Cdiscount) In €m H2 211 H2 22 Change 20211 2022 Change GMV2 2,215 1,712 -22.7% 4,206 3,497 -16.8% o/w marketplace sales 771 753 -2.3% 1,518 1,421 -6.4% % GMV 44.2% 53.3% +9 pts 45.2% 51.
Slide 29: 2022 Results – Latin America
2022 Results – Latin America Excellent performance from Assaí and Grupo Éxito Change at In €m 2021 2022 Change CER Consolidated net sales 14,448 17,785 +23.1% +9.7% o/w: GPA (Brazil) 4,184 3,344 -20.1% -31.9% Assaí 6,568 10,016 +52.5% +30.0% Grupo Éxito 3,695 4,424 +19.7% +20.7% EBITDA excl. tax cre
Slide 30: 2022 underlying net profit, Group share
2022 underlying net profit, Group share Trading profit stabilised in H2, impact of higher financial expenses in Latam and a one-off tax charge in France Underlying net profit, Group share In €m H2 21 H2 22 2021 2022 Trading profit and share of profit of equity- 766 742 1,236 1,127 accounted investee
Slide 31: Change in consolidated net debt in 2022
Change in consolidated net debt in 2022 €339m decrease in France net debt and increase in Latam debt due to the Assaí investment plan Net debt In €m 2021 2022 France including Segisor 1 (4,845) (4,506) o/w: France Retail (4,365) (4,204) E-commerce (Cdiscount) (337) (302) Segisor (144) 0 Latam Retail
Slide 32: Work of the Shareholders' Consultative Committee
Work of the Shareholders' Consultative Committee 2022-2023 » Meeting of 23 September 2022 › Review of the Annual General Meeting of 10 May 2022 and the results for the first half of 2022 › Discussion with Nicolas Joly, at the time M&A Projects Director and Chairman of Casino Immobilier » Meeting of
Slide 33: 2023 Outlook
2023 Outlook Focus on operational improvement and debt reduction 1. Operational efficiency and development Inventory reduction plan: -€190m in the first half of the year, offsetting end-2022 excess inventory New cost-saving plan: -€250m in the retail banners Acceleration of the convenience sto
Slide 34: Subsequent events
Subsequent events Highlights since the beginning of the year » 9 March 2023 : signing of an exclusive agreement between TERACT and Casino Group to create the French leader in responsible and sustainable retail activities » 21 March 2023 : sale of a 18.8% stake in Assaí for €723m reducing Casino Grou
Slide 35: Corporate social responsibility
Corporate social responsibility Matthieu Riché Director of CSR and Engagement 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 36: 2023 Annual General Meeting – Wednesday, 10 May 2023
36 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 37: 2023 Annual General Meeting – Wednesday, 10 May 2023
37 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 38: 2023 Annual General Meeting – Wednesday, 10 May 2023
38 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 39: 2023 Annual General Meeting – Wednesday, 10 May 2023
39 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 40: 2023 Annual General Meeting – Wednesday, 10 May 2023
40 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 41: 2023 Annual General Meeting – Wednesday, 10 May 2023
41 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 42: 2023 Annual General Meeting – Wednesday, 10 May 2023
42 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 43: Governance and compensation
Governance and compensation Thierry Billot Independent Lead Director Chair of the Audit Committee 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 44: Composition of the Board of Directors
Composition of the Board of Directors Independence rate: 36% Proportion of women: 43% Jean-Charles Naouri * Independent Directors Chairman and Chief Executive Officer Josseline de Clausade * Nathalie Andrieux representing Carpinienne de Participations Franck Hattab representing Foncière Euris * Maud
Slide 45: A busy year for the Board and its Committees in 2022
A busy year for the Board and its Committees in 2022 13 Board meetings » Board of Directors › Strong engagement of Directors: 94% attendance rate › Main points addressed: ▫ Strategy for the Group and its banners ▫ Financial position ▫ Deleveraging and asset disposal plan ▫ Partnerships, digitalisati
Slide 46: Work of the Committees in 2022
Work of the Committees in 2022 24 Committee meetings Appointments and Governance and Social Audit Committee Compensation Responsibility Committee Committee o Thierry Billot* (Chair and Lead o Maud Bailly* (Chair) o Nathalie Andrieux* (Chair) Director) o Nathalie Andrieux* o Thierry Billot* o Béatric
Slide 47: Composition of the Board of Directors
Composition of the Board of Directors Proposals submitted to the Annual General Meeting (10th to 15th resolutions) » Re-election of six directors whose terms are expiring (10th to 15th resolutions) › Christiane Féral-Schuhl, Independent Director › Frédéric Saint-Geours › Carpinienne de Participation
Slide 48: Compensation of the Chairman and CEO in respect of 2022
Compensation of the Chairman and CEO in respect of 2022 Resolution 7 » Fixed compensation paid in 2022: €825,000 (below the 2022 median of the SBF 120 and in line with the 2022 median of the Next 20) 21% FIXED » Variable compensation for 2022 to be paid in 2023: €193,068* COMPENSATION » Directors’ c
Slide 49: Compensation of the Chairman and CEO in respect of 2023
Compensation of the Chairman and CEO in respect of 2023 Resolution 8 » 2023 structure unchanged » Fixed remuneration: €825,000 (unchanged) » 79% of compensation subject to performance conditions » Increasing the weighting of the deleveraging criterion in the annual variable compensation » Other comp
Slide 50: Remuneration of non-executive corporate officers in respect of 2023
Remuneration of non-executive corporate officers in respect of 2023 Resolution 9 Directors . €30,000, comprising a fixed component of €8,500 and a variable component of €16,500 to €21,500 based on attendance at meetings . Limited to €15,000 (fixed: €4,250; variable: €10,750) for the Chairman of the
Slide 51: Resolutions
Resolutions Jean-Yves Haagen Secretary of the Meeting 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 52: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting » First and second resolutions › Approval of the 2022 parent company and consolidated financial statements » Third resolution › Allocation of profit ▫ 2022 loss: €62,132,232.78 ▫ Retained earnings: €3,511,844,778.56 › Allocation to ▫ Retained
Slide 53: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting » Fourth resolution › Approval of a related-party agreement in accordance with the provisions of Article L. 225-42 of the French Commercial Code » Fifth resolution › Approval of a related-party agreement in accordance with the provisions of Ar
Slide 54: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting » Eighth resolution › Approval of the compensation policy for the Chairman and Chief Executive Officer in respect of financial year 2023 » Ninth resolution › Approval of the compensation policy for non-executive Directors in respect of financi
Slide 55: Presentation of the resolutions
Presentation of the resolutions Ordinary General Meeting » Sixteenth 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: €50 per share ▫ Authorisation valid for: 18 months ▫ Use when a public
Slide 56: Presentation of the resolutions
Presentation of the resolutions Extraordinary General Meeting » Seventeenth to twenty-fifth resolutions › Renewal of the financial authorisations for 26 months (not valid during public tender offers) › Aggregate authorised ceiling set in resolution 25 R Subject Terms and Maximum conditions amount 17
Slide 57: Presentation of the resolutions
Presentation of the resolutions Extraordinary General Meeting » Seventeenth to twenty-fifth resolutions › Renewal of the financial authorisations for 26 months (not valid during public tender offers) › Aggregate authorised ceiling set in resolution 25 R Subject Terms and Maximum conditions amount 22
Slide 58: Presentation of the resolutions
Presentation of the resolutions Extraordinary General Meeting » Twenty-sixth resolution › Renewal of the authorisation to increase the share capital for members of a company savings plan (PEE) ▫ without PSR ▫ Authorisation valid for: 26 months ▫ Maximum amount: 2% of the share capital 58 2023 Annual
Slide 59: Presentation of the resolutions
Presentation of the resolutions Extraordinary General Meeting » Twenty-seventh resolution › Renewal of the authorisation to grant free Casino shares to employees of the Company and its related companies ▫ Limit: 2% of the share capital ▫ Authorisation valid for: 36 months ▫ No shares would be grante
Slide 60: Statutory Auditors' Reports
Statutory Auditors’ Reports 2023 Annual General Meeting – Wednesday, 10 May 2023
Slide 61: 2022 Universal Registration Document
2022 Universal Registration Document » List of reports Statutory auditors’ report on the financial statements Statutory auditors’ report on the consolidated financial statements Statutory auditors’ special report on regulated agreements Special reports to the Extraordinary General Meeting (EGM) 61 2
Slide 62: Casino, Guichard-Perrachon financial statements
Casino, Guichard-Perrachon financial statements Universal Registration Document: pages 182 to 186 Clean audit opinion on the financial statements “In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the financial position of the Company as of Dec
Slide 63: Casino, Guichard-Perrachon consolidated financial statements
Casino, Guichard-Perrachon consolidated financial statements Universal Registration Document: pages 63 to 69 Clean audit opinion on the consolidated financial statements “In our opinion, the consolidated financial statements give a true and fair view of the assets and liabilities and of the financ
Slide 64: Casino, Guichard-Perrachon regulated agreements
Casino, Guichard-Perrachon regulated agreements Universal Registration Document: pages 214 and 215 The following regulated agreements are presented in our special report: Agreements authorized during the year and submitted to the approval of the Shareholders’ Meeting Agreements authorized and ente
Slide 65: Special reports to the Extraordinary General Meeting (EGM)
Special reports to the Extraordinary General Meeting (EGM) Statutory Auditors’ report on the issuance of shares and other marketable securities while maintaining and/or canceling preferential subscription rights Resolutions 17, 18, 19, 20, 21, 23 and 24 Delegation to the Board of Directors, for a
Slide 66: Special reports to the Extraordinary General Meeting (EGM)
Special reports to the Extraordinary General Meeting (EGM) Statutory Auditors’ report on the issuance of equity securities and/or other marketable securities, reserved for members of an employee savings scheme Resolution 26 Delegation to the Board of Directors, for a 26-month period, the authority
Slide 67: Special reports to the Extraordinary General Meeting (EGM)
Special reports to the Extraordinary General Meeting (EGM) Statutory Auditors’ report on the authorization to grant existing or newly- issued free shares to employees Resolution 27 Authorization to the Board of Directors, for a 38-month period, to grant existing or newly-issued free shares to empl
Slide 68: 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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