Carrefour keeps growth going in fourth quarter

22.2 billion euro
turnover

Carrefour
had a fourth quarter turnover of 22.2 billion euro, a 1.5 % drop in absolute figures, largely because of divestments in
Greece, the Far East and Turkey among others. Organic growth (without gas sales and calendar influences) was 3.2 % if exchange rates
fluctuations are taken out of consideration.

In its own home market France, turnover grew 1.7 %,
which means it remains Carrefour’s most important market. All store formats
grew for the second quarter in a row, thanks to an aggressive price policy. Hypermarkets
grew 1.7 %, supermarkets 1.8 % and convenience stores and online grew 4.6 %.

International
sales grew 4.2 %, especially thanks to Latin America where Carrefour had an organic 6.8 %
growth in Brazil and 32.3 % in Argentina. Asia had a meagre 0.7 % growth, while
Europe (excluding France) dropped at that same rate – due to a big decrease in
Italy (-5.8 %). Carrefour’s second most important market (Spain) managed
growth once more, even though it was only 0.2 %. Belgium also grew, 1.5 %.

2.5% growth in 2013

Carrefour’s 2013 turnover dropped 1.2 % to 84.3 billion euro, but it managed a 2.5 % organic growth. Its
home market France delivered a 39.72 billion euro turnover, a 1.3 % growth.
That is the best result since 2007, according to Chief Financial Officer Pierre-Jean
Sivignon.

International activities grew 3.5 %
to 44.59 billion euro, with Latin America’s 12.6 % growth as a huge bump. “Despite
less-favourable exchange rate fluctuations”, Sivignon emphasizes. Analysts
expects operation profit to reach 2.19 billion euro.

(Translated by Gary Peeters)