Casino, Guichard-perrachon Sa · EURONEXT:CO
Casino, Guichard-perrachon Sa — FY2023 Earnings Presentation
19 slides from Casino, Guichard-perrachon Sa's earnings presentation, Feb 28, 2024
Slide 1: 2023 Full-year Results
2023 Full-year Results 28 February 2024
Slide 2: Financial results
Financial results 2
Slide 3: 2023 - Key figures
2023 - Key figures Net sales and EBITDA 2022 LFL In €m 1 2023 Reported change restated change2 Net sales 9,399 8,957 -4.7% -3.7% Monoprix 4,393 4,338 -1.3% +1.8% Franprix 1,478 1,522 +3.0% +3.2% Proximité Casino 1,510 1,482 -1.8% +1.1% Cdiscount 1,620 1,235 -23.8% -22.9% Other3 397 380 -4.4% +6.7% E
Slide 4: 2023 Free cash flow
2023 Free cash flow 2022 In €m – France (excluding GreenYellow) & Cdiscount 2023 restated EBITDA 943 765 Lease payments (427) (423) EBITDA (after lease payments) 516 341 Non-recurring cash items (122) (134) Other items* (61) (77) Operating cash flow 333 130 Income taxes (22) (9) Capex (301) (327) Fr
Slide 5: Change in net financial debt
Change in net financial debt1 2022 2023 restated In €m Net financial debt at 1 January (4,848) (4,477) Free cash flow before disposal plan (230) (765) Cash financial expenses (349) (255) Dividends paid to holders of TSSDI deeply-subordinated bonds (44) (43) Share buybacks and transactions with non-c
Slide 6: Other operating income and expenses
Other operating income and expenses Impacted by impairment of Monoprix and Franprix goodwill In €m 2022 2023 restated Other operating income and expenses 86 (1,157) Net income (expenses) related to changes in scope 305 15 of consolidation Gains (losses) on disposal of non-current assets 37 11 Net as
Slide 7: Financial expenses
Financial expenses Increase in cost of debt including impact of hedges and credit risk 2022 In €m restated 2023 Net financial expense1 (403) (768) Centralised scope2 (182) (475) Monoprix (86) (114) Franprix (63) (123) Cdiscount (72) (57) » Net financial expense was -768M€ (compared with -403M€ in 20
Slide 8: Net income, Group share
Net income, Group share Impairment of goodwill and deferred taxes 2022 2023 In €m restated Profit (loss) before tax (12) (1,801) Income taxes (118) (778) Equity-accounted investees (1) 2 Net profit (loss) from continuing operations (201) (2,577) o/w Group share (185) (2,558) o/w attributable to non-
Slide 9: Results by BU
Results by BU 9
Slide 10: Results by BU: Monoprix
Results by BU: EBITDA impacted by inflation (higher energy costs) 2022 2023 In €m restated Net sales 4,393 4,338 EBITDA (after lease payments) 244 201 EBITDA margin (%) 5.5% 4.6% Non-recurring cash items (50) (43) Other items* (37) (44) Operating cash flow 156 (114) Income taxes (10) - Operating wor
Slide 11: Results by BU: Franprix
Results by BU: EBITDA down due to rising costs (particularly for energy) and lower volumes on a same-store basis, partially offset by expansion of the franchise network 2022 2023 In €m restated Net sales 1,478 1,522 EBITDA (after lease payments) 107 80 EBITDA margin (%) 7.3% 5.3% Non-recurring cash
Slide 12: Results by BU: Proximité Casino
Results by BU: EBITDA down due to higher energy costs and support provided to franchise partners in dealing with the impact of inflation 2022 2023 In €m restated Net sales 1,510 1,482 EBITDA (after lease payments) 118 39 EBITDA margin (%) 7.9% 2.5% Non-recurring cash items (18) (30) Other items* (13
Slide 13: Results by BU: Cdiscount
Results by BU: EBITDA up 50.5% in line with the transition towards the more profitable marketplace and services model 2022 2023 In €m restated Net sales 1,620 1,235 EBITDA (after lease payments) 22 52 EBITDA margin (%) 1.4% 4.2% Non-recurring cash items (10) (12) Other items* 3 (4) Operating cash fl
Slide 14: CSR
CSR A recognised CSR commitment » Committed employer › Gender equality: The proportion of women managers was 44.1% in 2023 (compared with 43.8% in 2022) › Diversity: Diversity-Equality Label for Casino, Franprix, Monoprix and Cdiscount banners, and more than 2,960 people with disabilities are employ
Slide 15: Appendices
Appendices 15
Slide 16: Consolidated income statement
Consolidated income statement 2022 2023 In €m restated CONTINUING OPERATIONS Net sales 9,399 8,957 Other revenue 256 95 Total revenue 9,655 9,052 Cost of goods sold (6,906) (6,474) Gross margin 2,750 2,578 Selling expenses (1,598) (1,705) General and administrative expenses (836) (748) EBITDA 978 76
Slide 17: Consolidated statement of financial position
Consolidated statement of financial position 31 December 2022 31 December 2023 In €m restated Goodwill 6,933 2,046 Property, plant and equipment, intangible assets and investment property 7,786 2,186 Right-of-use assets 4,889 1,696 Investments in equity-accounted investees 382 212 Deferred tax asset
Slide 18: Summary statement of cash flows of continuing activities
Summary statement of cash flows of continuing activities 31 December 2022 2023 In €m restated EBITDA 978 765 Lease payments (429) (423) EBITDA after lease payments 549 341 Non-recurring cash items (187) (251) Other non-cash items (71) (77) Operating cash flow 291 14 Change in working capital require
Slide 19: 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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