Carrefour Sa · EURONEXT:CA
Carrefour Sa — Q3 2023 Earnings Presentation
18 slides from Carrefour Sa's earnings presentation, Oct 26, 2023
Slide 1: Q3 2023 Sales
Q3 2023 Sales October 25th, 2023
Slide 2: Good commercial momentum in Q3 2023
Good commercial momentum in Q3 2023 Group sales increased +9.0% LFL in Q3 Group strategy proves efficient in the inflationary context • Steady increase in sales of Carrefour-branded products, reaching >35% of total sales (+3 pts YoY) • E-commerce GMV up +31%, of which +16% in France Cost reduction p
Slide 3: Food inflation slowing down rapidly in Europe
Food inflation slowing down rapidly in Europe Decrease in Q3 primarily driven by 2022 comparable levels 12M food inflation in Europe 30% 25% 20% 11.4% 15% 10.5% 10.4% 10.3% 10% 9.7% 5% 8.7% 0% Jan22 Feb22 Mar22 Apr22 May22 Jun22 Jul22 Aug22 Sep22 Oct22 Nov22 Dec22 Jan23 Feb23 Mar23 Apr23 May23 Jun
Slide 4: Cumulative 24M inflation at high levels and stable since Q2
Cumulative 24M inflation at high levels and stable since Q2 High cumulative inflation level pressures purchasing power and volumes 24M cumulative food inflation in Europe 40% 29.6% 35% 29.5% 30% 24.9% 25% 22.2% 20% 20.4% 15% 19.6% 10% 5% 0% Jan22 Feb22 Mar22 Apr22 May22 Jun22 Jul22 Aug22 Sep22 Oct
Slide 5: Q3 sales growth driven by LFL
Q3 sales growth driven by LFL +0.5% +9.0% (0.7)% (1.5)% +0.0% €23,504m €23,629m (6.4)% Q3 2022 Gross LFL Expansion (1) Petrol Calendar Forex Q3 2023 Gross sales & M&A sales (1) Including transfers to franchise and lease management Q3 2023 SALES October 25, 2023 5
Slide 6: France: LFL sales up +4.3%, strong hypermarket growth
France: FRANCE LFL sales up +4.3%, strong hypermarket growth €10,769m Q3 Sales inc. VAT €5,151m €3,594m €2,024m France Hypermarkets Supermarkets Other formats Variation vs. Q3 22 +2.1% +0.7% +3.6% +3.1% LFL ex. petrol +4.3% +4.2% +3.8% +5.3% ex. calendar Solid performance in hypermarkets, growth in
Slide 7: Europe: Solid top line trend led by Spain
Europe: Solid top line trend led by Spain Q3 Sales inc. VAT €6,541m €3,075m €1,083m €1,113m €563m €706m Europe Spain Italy Belgium Poland Romania Variation vs. Q3 22 +2.6% +2.2% -0.3% +5.7% +1.4% +5.2% LFL ex. petrol +4.1% +5.0% +1.7% +7.5% -3.9% +4.5% ex. calendar Spain: Solid momentum across all f
Slide 8: Latin America: Good resilience in a challenging environment
Latin America: Good resilience in a challenging environment Q3 Sales inc. VAT Food at home inflation in Brazil €6,319m 20,0% €5,311m 17.5% MoM inflation €3,717m 12.3% 15,0% YoY inflation €1,309m €1,008m 10,0% €285m Latin Brazil Atacadão Retail Sam's Club Argentina (1) 5,0% 3.1% America 2.6% 1.4% 1.7
Slide 9: Grupo BIG: Significant sales uplift in reopened stores
Grupo BIG: Significant sales uplift in reopened stores Strong performance of stores converted to Atacadão: +22.2% LFL in Q3 • Sales at former BIG hypermarkets converted to Atacadão almost doubled in Q3 Slower ramp-up at Carrefour Retail converted stores in current adverse market environment +5 Sam’s
Slide 10: CSR – Q3 achievements
CSR – Q3 achievements Implementation of “Carrefour 2026” key initiatives • Climate • International coalition with 7 industrial partners to accelerate sales of plant-based alternatives • Disability • Major innovation competition with Vivatech, to select 3 startups whose handi-accessible solutions are
Slide 11: Share buyback: 2023 program almost complete
Share buyback: 2023 program almost complete €800m €750m €136m €700m to be completed by €664m of €800m share buyback program year-end completed to date 38.2 million shares repurchased to date €664m completed 699 million outstanding shares to date at end-October 2023 2021 2022 2023 Q3 2023 SALES Octob
Slide 12: Appendix
a © APPENDIX
Slide 13: Q3 2023 gross sales
Q3 2023 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 10,769 +4.3% +3.4% +2.1% +2.1% Hypermarkets 5,151 +4.2% +2.9% +0.7% +0.7% Supermarkets 3,594 +3.8% +3
Slide 14: Q3 2023 technical effects
Q3 2023 technical effects Calendar Petrol Forex France +0.2% -1.5% - Hypermarkets +0,3% -2,4% - Supermarkets +0,5% -0,1% - Others, inc. convenience -0,4% -1,4% - Other European countries -0,1% -1,3% +0,4% Spain -0,2% -2,7% - Italy +0,0% -0,4% - Belgium -0,0% - - Poland +0,4% +0,0% +5,2% Romania +0,1
Slide 15: 9m 2023 gross sales
9m 2023 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 31,544 +6.2% +5.3% +3.4% +3.4% Hypermarkets 15,173 +5.6% +4.1% +1.7% +1.7% Supermarkets 10,558 +6.2%
Slide 16: 9m 2023 technical effects
9m 2023 technical effects Calendar Petrol Forex France +0.2% -2.1% - Hypermarkets +0,2% -2,6% - Supermarkets +0,3% -1,6% - Others, inc. convenience +0,1% -1,6% - Other European countries +0,0% -1,7% +0,2% Spain -0,1% -3,1% - Italy +0,2% -0,9% - Belgium +0,0% - - Poland +0,0% -1,3% +2,0% Romania +0,1
Slide 17: Stores under banners at end-Q3 2023
Stores under banners at end-Q3 2023 Cash & Soft (#) Hypermarkets Supermarkets Convenience Sam’s Club Total Carry discount France 253 1,037 4,524 150 33 - 5,997 Other European countries 455 2,068 3,382 12 94 - 6,011 Spain 203 155 1,041 - 59 - 1,458 Italy 42 416 1,008 12 - - 1,478 Belgium 40 349 311 -
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