Carrefour SA

PAR:CA

Solid Profit Growth: Recurring operating income for the first half rose 6.2%, driven by strong results in Brazil and France despite mixed European performance.

Brazil Performance: Brazilian operations delivered robust growth and profitability, supported by economic improvement, successful store conversions, and synergies from the Grupo BIG acquisition.

Cost Savings: Carrefour achieved EUR 580 million in cost savings in H1, on track for EUR 1.2 billion for the year.

Synergy Targets Raised: Synergies from the Grupo BIG integration in Brazil reached BRL 2.3 billion, ahead of schedule; target raised to BRL 3 billion by 2025.

Market Share Stabilization: In France, pricing investments returned competitiveness, stabilizing or improving market share in volume terms.

Free Cash Flow On Track: Net free cash flow over the last 12 months totaled EUR 1.6 billion, keeping the group on pace for its EUR 1.7 billion 2026 goal.

Guidance Confirmed: Management confirmed full year targets for EBITDA, recurring operating income, and free cash flow in line with the Carrefour 2026 plan.

Retail Media & Digital: Unlimitail, Carrefour’s retail media platform, expanded rapidly, now serving 160 million customers across 13 countries, but remains in an investment phase.