Slide 1: Q4 2018 Sales
Q4 2018 Sales January 22nd 2019
Slide 2: Highlights
Highlights Solid sales growth in Q4 and FY 2018: Carrefour 2022 transformation plan: +1.9% LFL in Q4 and +1.4% in FY Powerful transformation dynamic launched in 2018 Group sales up +1.9% LFL vs +1.1% over first 9 months Concrete actions to support Carrefour’s ambition of being the leader in the food
Slide 3: Carrefour 2022: Powerful transformation dynamic launched in 2018
CARREFOUR 2022 POWERFUL TRANSFORMATION DYNAMIC LAUNCHED IN 2018 3
Slide 4: Leader in the food transition for all
Leader in the food transition for all DEVELOPMENT OF THE ORGANIC OFFER ● Broadening of the assortment of organic products FOOD QUALITY ● Continued deployment of blockchain technology to Carrefour Quality Line (FQC) PRODUCT LINES ● 210 partnerships to support producers to convert to organic farming G
Slide 5: Construction of a growth model
Construction of a growth model MAJOR REVAMP OF IN-STORE COMMERCIAL PROPOSITION ● Reduction of assortments: -7.5% in France in 2018, well on track to reach the target of -10% ● New Financial services COMMERCIAL INVESTMENTS TO REINFORCE COMPETITIVENESS ● Price investments started in Q1: Supermarkets i
Slide 6: Culture of operational efficiency and financial discipline
Culture of operational efficiency and financial discipline ORGANIZATIONS HAVE BECOME SIMPLER AND MORE AGILE ● Closure of the voluntary departure plans in France, Argentina and Belgium ● Full exit of ex-Dia stores completed MORE INDUSTRIALIZED AND EFFICIENT APPROACH ● Standard sourcing protocols for
Slide 7: 2018 Q4 Sales
2018 Q4 SALES 7
Slide 8: Total Q4 2018 Sales: Accelerating sales, up +2.7% at constant exchange rates
Total Q4 2018 Sales: Accelerating sales, up +2.7% at constant exchange rates Change in Q4 2018 Sales – (in €m and %) +1.9% +0.3% +1.2% -1.1% +0.4% +2.7% -5.0% €23.8 -2.3% €23.2 bn bn €22.6 -0.1% -1.7% +12.9% -4.1% bn France Europe LatAm Asia Q4 2017* LFL Calendar Expansion Other Petrol Q4 2018 Forex
Slide 9: FY 2018 Sales: A new year of LFL growth
FY 2018 Sales: A new year of LFL growth Change in FY 2018 Sales – (in €m and %) +1.4% -0.1% +1.4% -0.9% +0.8% +2.5% -5.3% €89.8 -2.8% €87.6 bn bn +0.3% -1.6% +8.9% -3.7% €85.2 France Europe LatAm Asia bn FY 2017* LFL Calendar Expansion Other Petrol FY 2018 Forex FY 2018 ex petrol scope at constant a
Slide 10: France: Broadly stable LFL sales at -0.1%
France: Broadly stable LFL sales at -0.1% (in €m) Total Sales Hypermarkets Supermarkets Other formats France LFL ex petrol ex calendar Sales inc. VAT (€m) 10,600 5,731 3,336 1,533 1.9% 1.5% 1.6% 0.5% -0.1% Total variation +0.5% -0.5% +1.0% +3.3% -0.2% -0,1% -0.9% LFL ex petrol ex Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 11: Other European countries: Markets remain difficult
Other European countries: Markets remain difficult (in €m) Europe Spain Italy Belgium Poland Romania Sales inc. VAT 2,700 1,369 1,149 615 605 Europe LFL ex petrol ex calendar 6,439 (€m) 3.4% 0.9% 0.6% Total variation -1.1% +0.7% -6.0% -3.3% +0.5% +6.1% -0.8% -1.5% 0.4% Variation at +0.7% -6.0% -3.3%
Slide 12: Latin America: Sharp acceleration
Latin America: Sharp acceleration Carrefour (in €m) LatAm** Brazil Retail Atacadão Argentina** Sales inc. VAT 4,259 3,640 1,179 2,461 619 (€m) LatAm LFL ex petrol ex calendar Total variation -8.9% -2.8% -10.4% +1.3% -33.3% 12.9% 9.7% 7.8% 8.4% Variation at 6.9% +15.4% +10.2% +1.6% +14.9% +36.4% 5.9%
Slide 13: Asia: Market still under pressure in China, steady growth in Taiwan
Asia: Market still under pressure in China, steady growth in Taiwan (in €m) Asia China Taïwan Sales inc. VAT (€m) 1,340 917 423 Asia LFL ex petrol ex calendar Total variation -6.9% -10.0% +0.9% -3.0% -2.8% -4.0% -3.9% Variation at constant FX -6.2% -8.9% +0.2% -3.0% -4.2% -4,1% -4.7% LFL ex petrol e
Slide 14: Strong liquidity position and solid balance sheet
Strong liquidity position and solid balance sheet Improved liquidity in 2018 Confirms the quality of - Successful refinancing operations for a total of €1.8bn in 2018 Carrefour Group's - All issues largely oversubscribed signature Solid balance sheet A key asset in today’s - S&P: BBB+, negative outl
Slide 15: Outlook
Outlook In the fourth quarter, the group posted solid sales momentum, despite headwinds in some key markets. New milestones were achieved in the implementation of the Carrefour 2022 plan, confirming the powerful transformation dynamic at work within the group. These elements reinforce our confidence
Slide 16: 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 m