Carrefour Sa (CRERF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

day and thank you for standing by. Welcome to the CAFWA Fall Year 2024 Results, Webcasts and Conference Calls. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll 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 speakers today, Mr. Bompard, Chairman and CEO, and Mr. Monlige, CFO. Please go ahead. Thank you. Good afternoon, everyone. Thank you for joining us for the presentation of our 2024 results. In a nutshell, 2024 was a challenging year for European food retailers. Consumption was weak and markets were competitive. In this context, Carrefour decided to invest in its competitiveness and pursued its transformation at a high pace. Overall results show steady delivery. We see growth in recurring operating income at constant Forex, growth in EBITDA, and the net free cash flow in line with expectations on multi-year trajectory. Those results are notably driven by the good performance of our three key countries, France, Brazil, and Spain. In the French market, affected by a decrease in consumption volumes, Carrefour France realized a remarkable year. 2024 marked our strongest investment in prices and led to our best price positioning since 2020. It has been well-noticed by customers as reflected in a plus five points in French NPS and the market share growing in Q4 on a like-for-like basis, excluding Cora and Match. In parallel, we opened more than 450 new convenience stores thanks to a historical record n...