Carrefour SA
PAR:CA

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Carrefour SA Logo
Carrefour SA
PAR:CA
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Price: 13.5 EUR 0.52% Market Closed
Market Cap: 9.9B EUR

Carrefour SA
Investor Relations

Carrefour SA, a French retail giant, emerges as a pivotal player in the global supermarket arena, wielding a robust business model that spans continents. Born in the 1960s, Carrefour quickly established itself as a pioneer of the hypermarket concept, blending the vast product choice of a department store with the everyday convenience of a supermarket. This innovation allowed Carrefour to expand rapidly, capturing markets in Europe, Latin America, and Asia. As it matured, the company refined its focus on customer experience and operational efficiency. Its outlets, ranging from hypermarkets and supermarkets to convenience stores, provide an array of offerings—groceries, clothing, electronics, and home goods—catering to diverse consumer needs. This diversity, coupled with its vast geographic footprint, enabled Carrefour to harness economies of scale, optimizing both supply chain and pricing strategies to maintain competitive advantages.

Revenue streams for Carrefour are as varied as its offerings, but the core remains grounded in direct product sales. Carrefour's ability to stock private-label brands alongside leading brand names affords it better control over pricing and margins, boosting profitability. Additionally, the company's integrated digital strategy, including online grocery services and partnerships with tech firms, underscores its commitment to embracing retail's digital transformation. By investing in data analytics, Carrefour fine-tunes inventory management and personalizes customer interaction, improving both efficiency and the shopper's experience. As the retail landscape evolves, Carrefour continues to leverage its substantial market presence and adaptive strategies, aiming to remain at the forefront of the global retail sector.

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Last Earnings Call
Fiscal Period
Q2 2024
Call Date
Jul 24, 2024
AI Summary
Q2 2024

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.

Key Financials
Total Sales (Q2)
EUR 22.7 billion
Group Like-for-like Sales
Up 10.8%
Reported Revenue (Q2)
Down 2.9%
Recurring Operating Income (Group, H1)
EUR 743 million
Recurring Operating Income (France, H1)
EUR 286 million
Recurring Operating Income (Europe ex-France, H1)
EUR 84 million
Operating Margin (Group, H1)
1.8%
Operating Margin (France, H1)
1.6%
Gross Margin (Group, H1)
19.4%
Distribution Costs (as % of sales)
15.1%
Net Free Cash Flow (H1)
-EUR 1.7 billion
Net Free Cash Flow (Last 12 Months)
EUR 1.6 billion
Cost Savings (H1)
EUR 580 million
Synergies from Grupo BIG (as of June 2024)
BRL 2.3 billion
E-commerce GMV (Brazil, Q2)
Up 41.3%
E-commerce GMV (Group, H1)
Up 30%
E-commerce GMV (Brazil, H1)
Up 45%
Atacadão Converted Store LFL Growth (Brazil, Q2)
21.4%
Sam's Club Members (Brazil)
Up 25% (active members)
Recurring Operating Income (Argentina, H1)
EUR 51 million
Recurring Operating Income (Brazil, H1)
EUR 366 million
Scope 1 and 2 Emissions Reduction
49%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Alexandre Bompard
Chairman & CEO
No Bio Available
Mr. Matthieu Malige
Chief Financial Officer
No Bio Available
Mr. Anthony Guglielmo
Investor Relations Director
No Bio Available
Mr. Charles Hufnagel
Executive Director of Communication for Group & France
No Bio Available
Ms. Caroline Dassie
Executive Director of Marketing & Customers for Group and France
No Bio Available
Mr. Jérôme Nanty
Executive Director of Human Resources & Assets for the Group & France
No Bio Available
Mr. Juan Cubillo
Head of Food Marketing
No Bio Available
Mr. Laurent Vallee
General Secretary & Executive Director of Northern Europe
No Bio Available
Mr. Pierre-Jean Jerome Sivignon
Advisor to The CEO
No Bio Available

Contacts

Address
ILE-DE-FRANCE
Massy
93 Avenue de Paris
Contacts
+33164505000.0
www.carrefour.com