Carrefour Sa (CRERF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Cal4 Half Year 2025 Results Webcast and Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Mr. Alexandre Pompard, Chairman and CEO. Please go ahead, sir. Thank you. Good evening, everyone. Thank you for joining today's call to review our performance for the first half of 2025. As mentioned in our press release, the second quarter marks an acceleration in our markets. and the good commercial performance in our three main geographies, France, Brazil, and Spain. In Europe, several factors are supporting the recovery in consumption. After two challenging years, market dynamics are clearly improving as purchasing power is up, supported by rising wages and lower inflation. This is a sign of a developing on more supportive trend with volumes improving. We believe this positive momentum will persist for the second half of the year. In France, we posted positive like-for-like sales across all formats in the second quarter, a first since 2023 and the end of hyperinflation. Our rebound in price competitiveness is recognized by customers as we gained market share in both volume and value. Returning operating income rose by 20% with operating margin excluding current match up to 1.9%. Spend showed the same positive momentum. Q2 was the third consecutive quarter of sales gr...