Casino, Guichard-Perrachon S.A. (0HB1) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the 2024 Half Year Results Conference Call. I now hand over to Mr. Philippe Palazzi, Chief Executive Officer, and Ms. Angélique Christofari, Chief Financial Officer of Casino Group. Please go ahead. Very good morning, everyone, and welcome to the presentation of our first Half 2024 Results. I'm Philippe Palazzi, CEO of Casino Group. Joining me today is our CFO, Angelique Christofari. After four months at the head of the group, I wanted to talk today about the challenges that have been left for us and what action we are and will take to overcome them. Angelique will then take us through the numbers, and I will close with some final remarks before we take your questions. The first half of 2024 has been challenging. Our financial results are still impacted by legacy challenges, but we will improve upon the entire factory performance as we move forward. In fact, we have already made significant progress. We are not far off completing our comprehensive and realistic assessment of the group's fundamental financials, commercial and operational situations that we are inheriting. but it does not stop us from acting decisively where we can. Our resettling projects are well underway, and we have launched a profound commercial transformation in order to improve our financial performance. The new casino is a group of proximity brands, with proximity being the common DNA of our banners. This proximity is geographical, as we have a network of exceptional and unique locations, including C-Discount, which is always within 50 centimeters of you through your mobile phone, representing another form of proximity. So, this gives us several competitive advantages to help drive our recovery. First, we have a powerful brand with a clear and impactful positioning alongside well-ide...