Casino, Guichard-perrachon Sa · EURONEXT:CO
Casino, Guichard-perrachon Sa — FY2013 Earnings Presentation
70 slides from Casino, Guichard-perrachon Sa's earnings presentation, Feb 18, 2014
Slide 1: Full-Year Results 2013
FULL-YEAR RESULTS 18 February 2014 18 February 2014 Full-Year Results 2013
Slide 2: 2013 Key Figures (Continuing Operations)
2013 KEY FIGURES (CONTINUING OPERATIONS) 2013 Change vs. 2012 Consolidated net sales €48,645m +15.9% EBITDA €3,337m +17% EBITDA margin 6.9% +6bp Trading profit €2,363m +18.1% Trading margin 4.9% +9bp Net underlying profit, group share €618m +9.7% Underlying diluted EPS €5.32 +7.6% Cash flow* €1,956m
Slide 3: Finalisation of control of major assets, French recovery, excellent international results
IN 2013 FINALISATION OF THE CONTROL OF MAJOR STRUCTURING ASSETS, FRENCH RECOVERY AND EXCELLENT RESULTS INTERNATIONALLY After taking legal control, the Group took managerial control of two major structuring assets: GPA in Brazil and Monoprix in France French recovery Géant hypermarkets and Casi
Slide 4: Highlights
HIGHLIGHTS Results 2014 Perspectives & Conclusion Appendices Jean-Charles NAOURI 18 February 2014 Chairman and Chief Executive Officer Full-Year Results 2013
Slide 5: Sharp increase in Group net sales in 2013: +15.9%
SHARP INCREASE IN GROUP NET SALES IN 2013: +15.9% SALES GROWTH in €m +15.9% +19.4% -8.1% +5.7% -1.1% 48,645 Petrol Scope Currency Organic* and calendar 41,971 effect 2012 2013 Group sales benefited from the full consolidation of GPA and Monoprix and from sales growth among all international subsid
Slide 6: Growth in French activity
GROWTH IN FRENCH ACTIVITY MONTHLY GROWTH IN SAME-STORE SALES* ORGANIC SALES GROWTH* IN H2 2013 -2.9% -3.4% -3.3% -3.6% -1.4% Q3: -3.3% Q4: -1.5% 2013 Q1 Q2 Q3 Q4 2013 In a backdrop of cost reductions initiated in Q4 2012, Géant hypermarkets and Casino Supermarkets sales improved sharply starting i
Slide 7: Internationally, continued strong growth in 2013
INTERNATIONALLY, CONTINUED STRONG GROWTH IN 2013 ORGANIC* SALES GROWTH IN INTERNATIONAL MARKETS as a % International operations 13.1% Latin America 11.9% 10.6% Asia 9.0% 9.4% 7.5% 2012 2013 A robust and sustained organic growth rate across all of the Group's international markets Robust growth i
Slide 8: Géant resumed positive traffic and strong growth in food volumes
GÉANT RESUMED POSITIVE TRAFFIC AND STRONG GROWTH IN FOOD VOLUMES For the entire year, reported business volume fell due to significant price cuts: the new price positioning is now very competitive 4 weeks to 16 February 2014: Strong sequential improvement in same-store food sales (+0.8%* in 2013
Slide 9: Return to growth in 2014
RETURN TO GROWTH Client traffic and volumes turned positive during H2 2013 following price cuts Continuation of action plans aimed at increasing the banner's appeal: quality of fresh products, variety in food offer and service in stores IN 2014 Objective of positive same-store sales growth 18
Slide 10: Ongoing network development
ONGOING NETWORK DEVELOPMENT Continued rapid expansion of new points of sale in high-traffic areas (train stations, airports, motorways, etc.) New loyalty programme now rolled out to all integrated stores Number of stores Commercial revival in various integrated at end-2013: and franchises netw
Slide 11: Excellent profitability and attractive development prospects
EXCELLENT PROFITABILITY AND ATTRACTIVE DEVELOPMENT PROSPECTS Sales held up well, driven by sustained expansion in all formats: 40 stores opened in 2013 Same-store food sales increased during the year Solid business development for Naturalia organic stores Solid organic growth* Accelerated gr
Slide 12: Confirmation of the FPLP model's robustness
CONFIRMATION OF THE FPLP MODEL'S ROBUSTNESS Franprix Loyalty card rolled out throughout the network Sales to loyalty cardholders account for more than 30% of the banner's total revenue Total sales: Continued expansion on various formats and store transformation to new concept +1.8% in 2013 L
Slide 13: Continuation of strong growth momentum
CONTINUATION OF STRONG GROWTH MOMENTUM Robust growth of business volume (+16.1%) in 2013 Marketplace (which accounts for 16% of business volume at the end of 2013), with 5.5 million offers and more than 2,800 vendors, continued to develop Volumes* rapidly (4 weeks to 16 February 2014): Sustain
Slide 14: Brazil: excellent performance in 2013
BRAZIL: EXCELLENT PERFORMANCE IN 2013 With GPA, Casino is the leading retailer in Brazil: Nearly 2,000 multi-format points of sale (food and non-food: hypermarkets, supermarkets, convenience, cash & carry…) GPA Food: growth of sales in all formats and more rapid expansion to win over new marke
Slide 15: GPA Food: acceleration in organic growth
GPA FOOD: GPA Food ACCELERATION IN ORGANIC GROWTH Rapid GPA Food net same-store sales growth (+10.4%* in 2013), much faster than inflation Excellent performance of Assaí cash & carry and Minimercado convenience formats, 2013 sales: with faster expansion pace on both formats: 59 Minimercado Extra
Slide 16: Non-food: strong growth in sales and improvement in profitability
NON–FOOD: STRONG GROWTH Non-food GPA IN SALES AND IMPROVEMENT IN PROFITABILITY Very sustained same-store sales growth (+10.1% in 2013) Excellent performance from the Black Friday Continued expansion with the opening of 34 stores 2013 sales: Significant improvement in operating profitability
Slide 17: E-commerce: excellent performance of Nova.com
E-COMMERCE: EXCELLENT PERFORMANCE GPA e-commerce OF NOVA.COM ACTIVITIES Very strong growth of e-commerce (+29.9%*) supported by: Evolution of the pricing strategy and product categories 2013 sales: Improved services – particularly the rollout €1.5bn of free delivery Development of the market
Slide 18: GPA steady growth in business and earnings since 1999
GPA HAS POSTED STEADY, REGULAR GROWTH IN ITS BUSINESS AND EARNINGS SINCE IT WAS ACQUIRED IN 1999 SALES EBITDA (in BRL millions) (in BRL millions) 60,000 60 000 6,000 6 000 Sales CA EBITDA EBITDA 50,000 50 000 5,000 5 000 40,000 40 000 4,000 4 000 30,000 30 000 3,000 3 000 20 000 20,000 2,000 2 000 1
Slide 19: Good performance by Éxito thanks to multi-banner strategy
GOOD PERFORMANCE BY ÉXITO THANKS TO ITS MULTI-BANNER STRATEGY Organic growth sales of +3.5%* Robust performance of sales initiatives in a slowing macroeconomic environment Expansion focused on convenience and discount formats, 2013 sales: which continued to gain market share: 276 affiliates €4
Slide 20: Exito regular growth in activity and earnings since 1999
EXITO HAS EXPERIENCED REGULAR GROWTH IN ITS ACTIVITY AND EARNINGS SINCE IT WAS ACQUIRED IN 1999 SALES EBITDA (IN COP millions) (IN COP millions) 12,000,000 12 000 000 Sales 1,200,000 1 200 000 CA EBITDA EBITDA 10,000,000 10 000 000 1,000,000 1 000 000 8,000,000 8 000 000 800,000 800 000 6,000,000 6
Slide 21: Thailand: strong performance in spite of the environment
2013: STRONG PERFORMANCE IN SPITE Thailand OF THE ENVIRONMENT Sales of €3.1bn up by +3.7%, of which +6.7% on an organic basis*, despite slowing consumption and political tensions at the end of the year Faster expansion on all formats in 2013: 2013 sales: 6 hypermarkets and shopping centres, 12 s
Slide 22: Big C constant, regular growth since 1999
BIG C HAS POSTED CONSTANT, REGULAR GROWTH IN ITS BUSINESS AND EARNINGS SINCE IT WAS ACQUIRED IN 1999 Thailand SALES EBITDA (in THB millions) (in THB millions) 140,000 140 000 CA 14,000 14 000 Sales EBITDA EBITDA 120,000 120 000 12 000 12,000 100 000 100,000 10 000 10,000 80 000 80,000 8 000 8,000 60
Slide 23: Vietnam: strong organic sales growth
STRONG ORGANIC SALES GROWTH Vietnam Very strong sales growth on an organic basis over the year in an improving macroeconomic environment Expansion continued with the opening of four hypermarkets and adjacent shopping centres 2013 sales: over the year: the banner, with leading position €468m on t
Slide 24: Results
Highlights RESULTS 2014 Perspectives & Conclusion Appendices Antoine GISCARD D’ESTAING 18 February 2014 Chief Financial Officer Full-Year Results 2013
Slide 25: Preliminary notes
PRELIMINARY NOTES The 2013 consolidated financial statements approved by the Board of Directors on 17 February 2014 have been audited by the Statutory Auditors PRINCIPLE CHANGES IN SCOPE After the IPO, GPA's stake in Viavarejo fell from 52.4% to 43.3% at the end of December 2013. As it did not r
Slide 26: Sharp increase in operating profit, in line with sales growth
SHARP INCREASE IN OPERATING PROFIT, IN LINE WITH GROWTH IN CONSOLIDATED SALES Continuing operations (in € million) 2012 2013 Change Net sales 41,971 48,645 +15.9% Gross margin 10,844 12,445 +14.8% As a % of sales 25.8% 25.6% -25bp EBITDA* 2,853 3,337 +17% EBITDA margin 6.8% 6.9% +6bp Depreciation an
Slide 27: Organic EBITDA and trading profit growth above sales growth
ORGANIC EBITDA AND TRADING PROFIT GROWTH ABOVE SALES GROWTH CHANGE IN EBITDA CHANGE IN TRADING PROFIT in €m in €m +17% +18.1% +17.9% +8.3% +17.6% +10.7% 3,337 2,363 -9.2% -10.3% Scope Currency Organic Scope Currency Organic 2,853 2,002 2012 2013 2012 2013 Sustained organic EBITDA and trading profi
Slide 28: Group trading profit and trading margin growth
GROUP TRADING PROFIT AND TRADING MARGIN GROWTH TRADING PROFIT TRADING MARGIN in €m in % 2,363 2,002 4.8% 4.9% 4,9% International 1,316 +32.6% 1,745 France 539 +0.9% (excluding Mercialys) 544 Mercialys 146 -48.9% 75 2012 2013 2012 2013 Very strong growth in trading profit from international subsidi
Slide 29: Stable trading profit from distribution activities in France
STABLE TRADING PROFIT FROM DISTRIBUTION ACTIVITIES IN FRANCE Trading profit Organic (in € million) 2012 Margin 2013 Margin change Casino banners (excluding Mercialys) 254 2.1% 145 1.3% -76bp Franprix-Leader Price 163 3.8% 152 3.5% +13bp Monoprix 122 6.1% 247 6.9% +52bp France (excluding Mercialys) 5
Slide 30: Further increase in profitability of international subsidiaries
FURTHER INCREASE IN THE PROFITABILITY OF INTERNATIONAL SUBSIDIARIES Trading profit Organic (in € million) 2012 Margin 2013 Margin change Latin America 1,060 5.5% 1,469 5.9% +66bp Asia 241 7.1% 264 7.4% +34bp Other sectors 16 n/a 12 n/a n/a INTERNATIONAL 1,316 5.6% 1,745 6% +58bp In Latin America,
Slide 31: Detailed income statement
DETAILED INCOME STATEMENT Continuing operations (in € million) 2012 2013 Change Trading profit 2,002 2,363 +18.1% Other operating income and expenses 377 261 Finance costs, net (519) (635) Other financial income and expenses 20 (84) Profit before tax 1,880 1,905 Income tax expense (323) (401) Share
Slide 32: Other operating income and expenses
OTHER OPERATING INCOME AND EXPENSES (in € million) 2012 2013 Capital gain on asset disposals 110 58 Other operating income and expenses 267 203 Net income related to scope operations 672 551 Net impairment of assets (123) (79) Provisions and charges for restructuring (200) (148) Legal and risk provi
Slide 33: Good management of finance costs excluding scope effects
GOOD MANAGEMENT OF FINANCE COSTS EXCLUDING THE IMPACT OF SCOPE EFFECTS (in € million) 2012 2013 France (231) (258) Brazil (282) (376) Thailand (30) (24) Other international 25 23 TOTAL (519) (635) In France, finance costs were impacted by the acquisition of a 50% stake in Monoprix At GPA, financ
Slide 34: Net underlying profit up +9.7%
NET UNDERLYING PROFIT UP +9.7% (in € million) 2012 underlying 2013 underlying TRADING PROFIT 2,002 2,363 Other operating income and expense, net 0 0 OPERATING PROFIT 2,002 2,363 Finance costs, net (519) (635) Other financial income and expense, net (4) 4 Income tax expense (478) (499) Share of profi
Slide 35: Net underlying EPS up +7.6%
NET UNDERLYING EPS UP +7.6% Continuing operations 2012 2013 Change Diluted average number of shares 112,173,213 112,918,625 +0.7% Diluted EPS* 9.41 7.40 -21.4% Underlying diluted EPS* 4.94 5.32 +7.6% Dividend proposed at the Annual General Meeting of 6 May 2014: €3.12 per share 18 February 2014 *
Slide 36: WCR: significant improvement in cash flow generation
WCR: SIGNIFICANT IMPROVEMENT IN CASH FLOW GENERATION CHANGE IN WCR (excluding Mercialys) in €m 2012 119 2013 Group 445 Positive change in WCR in France thanks to good management of inventories Internationally, strong performance in Brazil 18 February 2014 Full-Year Results 2013 36
Slide 37: Capex primarily allocated to international activities
CAPEX PRIMARILY ALLOCATED TO INTERNATIONAL ACTIVITIES OPERATING INVESTMENTS (GROSS CAPEX* AS % OF SALES) as % of sales France**: €540m Internationally: €1,083m 3.7% 3.4% 3.0% 2.8% 2012 2013 2012 2013 * Investments in property, plant & equipment and intangible assets ** Excluding Mercialys 18 Februar
Slide 38: Stability of the Group's consolidated debt
STABILITY OF THE GROUP'S CONSOLIDATED DEBT Excluding Mercialys flows in €m Issuances Other to strengthen changes the capital in scope base Monoprix GPA Put Cash flow Operation Stock Other Option Market (536) Cancellation Listing Dividends items CAPEX paid 1,158 of Via Varejo (net) (128) Chg. 399 (1,
Slide 39: Strong improvement in the consolidated debt ratio
STRONG IMPROVEMENT IN THE CONSOLIDATED DEBT RATIO NET FINANCIAL DEBT/EBITDA in % 6000 1.91 2,0 1,9 5000 1,8 4000 1,7 1.62 1,6 3000 1,5 2000 1,4 1,3 1000 1,2 0 1,1 2012 2013 DFN EBITDA NFD / EBITDA 18 February 2014 Full-Year Results 2013 39
Slide 40: Casino maintained a high level of liquidity
IN 2013, CASINO MAINTAINED A HIGH LEVEL OF LIQUIDITY BY EXTENDING THE MATURITY OF ITS DEBT CONTROLLING THE COST OF DEBT €4.1 billion IN LIQUIDITY* AT 31/12/2013 BOND MATURITIES** WELL SPREAD OUT OVER TIME in €m in €m 1,000 1,000 2,930 888 850 750 578 600 600 508 1,146 Cash and cash Undrawn equivalen
Slide 41: 2014 Perspectives & Conclusion
Highlights Results 2014 PERSPECTIVES & CONCLUSION Appendices Jean-Charles NAOURI 18 February 2014 Chairman and Chief Executive Officer Full-Year Results 2013
Slide 42: Group's profile profoundly transformed at end of 2013
AT THE END OF 2013, THE GROUP'S PROFILE WAS PROFOUNDLY TRANSFORMED Over the past five years, the Group has nearly doubled in size It has reinforced its portfolio of banners by taking control of Monoprix and GPA It now has an excellent geographical mix. It has primarily developed in sectors and
Slide 43: The Group's strategic priorities
THE GROUP'S STRATEGIC PRIORITIES Over time, Casino group has grown around a constant vision and has developed activities favoured by the main consumption trends In 2014, the Group will continue and accelerate this strategy on all of its markets: 1 Roll out of discount banners 2 Strengthening of
Slide 44: Continue the roll-out of discount banners
1 CONTINUE THE ROLL-OUT OF DISCOUNT BANNERS In France Continued development of Leader Price with, as of today, the best pricing on market* Repositioning of Géant hypermarkets as a popular banner, with a very competitive offer and price index* and a new ambition for same-store growth Internat
Slide 45: Strengthen our positioning on premium formats
2 STRENGTHEN OUR POSITIONING ON PREMIUM FORMATS The Group benefits from a unique positioning in premium formats via the Monoprix banners (including Monop’ and Naturalia), Carulla (Colombia) and Pão de Açúcar (Brazil) banners In France, a sustained pace of expansion at Monoprix via its various fo
Slide 46: Continue expanding the convenience format
3 CONTINUE EXPANDING THE CONVENIENCE FORMAT In France Accelerated expansion on differentiated formats (store size and assortment adapted to the catchment areas) Priority development given to franchise Internationally, development of convenience formats Minimercado in Brazil Exito Express
Slide 47: Strong growth of e-commerce
4 STRONG GROWTH OF E-COMMERCE In 2013, Casino achieved sales of €2.9 billion in non-food e-commerce, in Brazil and France In 2014, the Group will continue its strong development: In France Strong volume growth for Cdiscount Strengthened website commercial appeal (pricing, product range)
Slide 48: 2014 Perspectives
2014 PERSPECTIVES In 2014, the Group sets the following objectives: Return to positive organic sales growth in France Continued strong organic sales growth internationally Further trading profit growth in organic terms Continued improvement of the financial structure 18 February 2014 Full-
Slide 49: Appendices
Highlights Results 2014 Perspectives & Conclusion APPENDICES 18 February 2014 Full-Year Results 2013
Slide 50: Simplified consolidated balance sheet
SIMPLIFIED CONSOLIDATED BALANCE SHEET (in € millions) 31/12/2012** 31/12/2013 Goodwill 10,909 10,791 Intangibles and property, plant and equipment 13,046 14,128 Investments in associates 260 768 Non-current assets* 2,001 1,593 Other non-current assets 865 425 Inventories 4,727 4,693 Trade and other
Slide 51: Cash flow statement
CASH FLOW STATEMENT (in € millions) 2012 2013** Net financial debt at beginning of period (5,379) (5,451) Cash flow 1,639 1,956 Change in working capital requirement 194 445 Other* 523 665 Net cash flow from operating activities, after tax 2,357 3,066 Capital expenditure (1,406) (1,622) Acquisitions
Slide 52: Consolidated net profit
CONSOLIDATED NET PROFIT (in € millions) 2012 2013 Net profit from continuing operations 1,535 1,524 Group share 1,065 853 Attributable to minority interests 470 672 Net profit from discontinued operations (2) (2) Group share (2) (2) Attributable to minority interests 0 0 Consolidated net profit 1,53
Slide 53: Definition of underlying profit
DEFINITION OF UNDERLYING PROFIT Underlying profit corresponds to net profit from continuing operations adjusted for the impact of other operating income and expense (as defined in the “Significant Accounting Policies” section of the notes to the annual consolidated financial statements), non-recur
Slide 54: Reconciliation of reported profit to underlying profit
RECONCILIATION OF REPORTED PROFIT TO UNDERLYING PROFIT 2012 2013 (in € millions) 2012 Adjustments underlying 2013 Adjustments underlying Trading profit 2,002 2,002 2,363 2,363 Other operating income 377 (377) 0 261 (261) 0 and expense, net Operating profit 2,379 (377) 2,002 2,625 (261) 2,363 Finance
Slide 55: Contribution from listed companies to enterprise value
AT THE END OF 2013, THE CONTRIBUTION FROM LISTED COMPANIES TO THE ENTERPRISE VALUE WAS €8.5 BILLION Share price Market cap Casino’s Listed companies at 31/12/2013 (100%, €m) %-owned share(€m) GPA (Brazil) BRL 104.9 8,517 38.1%* 3,234 Grupo Exito (Colombia COP 30,000 5,053 54.8% 2,771 & Uruguay) Big
Slide 56: GPA shareholder structure and minority interests in Brazil
GPA SHAREHOLDER STRUCTURE AND MINORITY INTERESTS IN BRAZIL 38.1% 43.3%** 52.3%* 44.1%* Minority interests 61.9% Minority Minority interests interests 56.7%** 3.6%* at 31 December 2013 Economic interest GPA Food Viavarejo Nova.com (as %) Casino Group 38% 16.5% 27.2% Minority interests 62% 83.5% 72.8%
Slide 57: Change in underlying minority interests
CHANGE IN UNDERLYING MINORITY INTERESTS (in € millions) 2012 2013 FPLP (12) (6) GPA 206 439 Big C Thailand 60 72 Exito 95 90 Other 8 12 Mercialys* 58 29 TOTAL 415 636 18 February 2014 * Deconsolidated on 21 June 2013 Full-Year Results 2013 57
Slide 58: France and international earnings
FRANCE AND INTERNATIONAL EARNINGS FRANCE (in € millions) 2012 2013 Net sales 18,447 19,492 EBITDA 1,062 1,055 EBITDA margin 5.8% 5.4% Trading profit 685 618 Trading margin 3.7% 3.2% INTERNATIONAL In € millions 2012 2013 Net sales 23,524 29,153 EBITDA 1,790 2,282 EBITDA margin 7.6% 7.8% Trading profi
Slide 59: Breakdown of sales by entity
BREAKDOWN OF SALES BY ENTITY Change (organic, (in € millions) 2012 2013 Var. excl. petrol) Franprix-Leader Price 4,279 4,356 +1.8% -5.1% Monoprix 2,010 3,561 +77.2% +1.1% Casino France 12,158 11,575 -4.8% -3.9% Géant Casino 5,246 4,890 -6.8% -7.2% Casino 3,687 3,463 -6.1% -5.1% supermarkets Convenie
Slide 60: Same-store sales
SAME-STORE SALES FRANCE 2013 vs. 2012 Including petrol Excluding petrol Géant Casino -6.4% -6.8% Casino Supermarkets -7.2% -6.2% Franprix -2.9% -2.9% Leader Price -4.4% -4.4% Monoprix -0.7% -0.8% INTERNATIONAL 2013 vs. 2012 Including petrol Excluding petrol Latin America +8.6% +8.6% Asia -0.3% -0.3%
Slide 61: Other financial income and expense
OTHER FINANCIAL INCOME AND EXPENSE (in € millions) 2012 2013 Change in derivatives excluding hedging instruments 39 (62) Foreign exchange gains and losses off-NFD (2) (8) Discounting adjustments (9) (16) Other (9) 3 TOTAL 20 (84) 18 February 2014 Full-Year Results 2013 61
Slide 62: Average exchange rates
AVERAGE EXCHANGE RATES (in € millions) 2012 2013 Var. % Argentina (ARS / EUR) 0.171 0.137 -19.7% Uruguay (UYP / EUR) 0.038 0.037 -4.1% Thailand (THB / EUR) 0.025 0.024 -2.2% Vietnam (VND / EUR) (x 1,000) 0.037 0.036 -4.1% Colombia (COP / EUR) (x 1,000) 0.433 0.403 -6.9% Brazil (BRL / EUR) 0.399 0.34
Slide 63: Calendar effect in France by format
CALENDAR EFFECT IN FRANCE BY FORMAT Q4 2013 2013 Géant Casino -0.8% -0.9% Casino supermarkets -0.6% -0.7% Convenience -0.6% -0.4% Cdiscount 0% 0% Monoprix 0% -0.3% FPLP -1% -0.8% FRANCE -0.7% -0.7% 18 February 2014 Full-Year Results 2013 63
Slide 64: Estimated 2014 calendar effect
ESTIMATED 2014 CALENDAR EFFECT 2014 Q1 Q2 Q3 Q4 2014 France -0.5% 0.4% -0.6% -0.3% -0.3% International -1.2% 1.7% -0.2% -0.5% -0.1% 18 February 2014 Full-Year Results 2013 64
Slide 65: Share of profit of associates
SHARE OF PROFIT OF ASSOCIATES 2012 2013 France (30) 4 International 8 17 TOTAL (21) 21 18 February 2014 Full-Year Results 2013 65
Slide 66: Puts included in net financial debt
PUTS INCLUDED IN NET FINANCIAL DEBT Value Value Exercise (in € millions) % capital at 31/12/2012 at 31/12/2013 period GPA 399 0 Franprix - Majority-owned 97 48 Various dates Leader Price franchise stores Monshowroom 0 10 Various dates At any time Uruguay 15 15 2021 At any time Other 1 1 2014 TOT
Slide 67: Off-balance sheet puts
OFF-BALANCE SHEET PUTS Value Value Exercise (in € millions) % capital at 31/12/2012 at 31/12/2013 period Franprix - Minority-owned 157 71 Various dates Leader Price franchise stores Uruguay At any time 90 87 (Disco) 2021 Other 15 0 TOTAL 262 158 18 February 2014 Full-Year Results 2013 67
Slide 68: Changes in equity
CHANGES IN EQUITY in €m 2013 TSSDI Profit for issue the period Capital 745 increase 1,523 & stock Other* (18) options 1,029 (515) TSSDI plans dividends Distribution 14 (2,195) (359) Translation adjustment Change in scope of consolidation and minority interests 15,426 15,201 31/12/2012 31/12/2013 * I
Slide 69: Number of stores
NUMBER OF STORES FRANCE 31/12/2012 31/12/2013 Géant Casino 125 126 Casino Supermarkets 445 444 Franprix 891 885 Monoprix 542 584 Leader Price 604 619 Superettes 6,517 7,315 Other 487 544 TOTAL FRANCE 9,611 10,517 INTERNATIONAL Argentina 24 22 Uruguay 52 54 Brazil 1,881 1,999* Colombia 427 739 Thaila
Slide 70: 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 projections and estimates and their underlying assumptions, statements regarding plans, objective
Casino, Guichard-Perrachon — FY2013 Earnings Presentation on 6ix