FOURTH CONSECUTIVE YEAR OF ORGANIC SALES
GROWTH
Regulatory News:
Carrefour (Paris:CA):
2015 full-year sales: €86.3bn, +5.3% ex petrol and at
constant exchange rates and +3.0% on an organic basis
- France: Continued growth, +5.3%
ex petrol and +1.1% on an organic basis
- All formats posted growth for the third
consecutive year, illustrating the dynamism of our multi-format
model
- DIA store conversions continue
- International: Growth of +5.3%
ex petrol at constant exchange rates and of +4.5% on an organic
basis
- Accelerating growth in Europe, notably
in Spain and Italy; all countries posted full-year like for like
growth
- Excellent performance in Latin America
in a more difficult environment
- Confirmation of growth in Taiwan,
continued roll-out of action plan in China
Q4 2015 sales: €22.4bn, +4.1% ex petrol and at constant
exchange rates, +2.4% on an organic basis
- France: Growth of +3.3% ex
petrol and of -0.3% on an organic basis
- International: Growth of +4.8%
at constant exchange rates ex petrol and acceleration of organic
growth at +4.5%
2015 Recurring Operating Income
- The group confirms that 2015 ROI will
be in line with expectations of €2.45bn
Q4 and full-year 2015 consolidated
sales inc. VAT
Fourth quarter 2015 Full-year 2015
Sales inc.
VAT (€m)
Organic
growth
Total variation
at constant
exch. rates
ex. petrol
Sales inc.
VAT (€m)
Organic
growth
Total variation
at constant
exch. rates
ex. petrol
France 10,663 -0.3% +3.3% 40,601 +1.1%
+5.3% International 11,768 +4.5% +4.8% 45,694
+4.5% +5.3%
Group 22,430 +2.4%
+4.1% 86,294 +3.0%
+5.3%
Total sales under banners including petrol in full-year 2015
reached €104.4bn at constant exchange rates, up +4.5% at constant
exchange rates. They stood at €26.9bn at constant exchange rates in
Q4 2015, up +2.7%.
FULL-YEAR 2015 SALES INC. VAT
France
Sales inc. VAT(€m)
Ex petrol Ex calendar LFL
Organic
growth
France 40,601 +1.3% +1.1%
Hypermarkets 21,369 +0.6% +0.8% Supermarkets 13,066 +1.9%
+1.3% Convenience and other formats 6,166 +2.7% +2.9%
In 2015, France posted organic growth of +1.1%, on top of
an already positive comparable basis of +1.2% in 2014 and of +1.3%
in 2013. All formats posted organic growth for the third
consecutive year.
International
Sales inc. VAT (€m) Ex petrol
Ex calendar LFL
Organic
growth
International 45,694 +3.3%
+4.5% Other European countries 22,127 +1.8% +1.2%
Latin America 16,107 +11.7% +15.7% Asia 7,459 -10.3%
-9.5%
Organic sales in international markets were up by +4.5%
in 2015. For the first time in seven years, Europe posted sales
growth. Sales in Latin America were up strongly, at +11.7%, as
Brazil posted further growth, with organic sales up by +12.6%. In
Asia, organic sales were down by 9.5%.
2015 FOURTH QUARTER SALES INC. VAT
France
Sales inc. VAT (€m) Ex petrol
Ex calendar LFL
Organic
growth
France 10,663 +0.2% -0.3%
Hypermarkets 5,835 -0.7% -0.5% Supermarkets 3,349 +1.5%
+0.6% Convenience and other formats 1,479 +1.1% -0.1%
In the fourth quarter, France posted further LFL growth
of +0.2% on the back of a high comparable base (+1.1%).
Sales at hypermarkets were down by 0.5% on an organic
basis. Non-food sales were impacted by particularly mild
temperatures, notably in December.
Sales at supermarkets rose by +0.6% on an organic basis.
LFL sales were up by +1.5% on top of a particularly challenging
comparable base of +2.6% in 2014 and +3.2% in 2013.
Sales in convenience and other formats confirmed their
momentum with a LFL rise of +1.1%.
International
Sales inc. VAT (€m) Ex petrol
Ex calendar LFL
Organic
growth
International 11,768 +3.6%
+4.5%
Other European countries 6,077 +2.2% +0.8% Latin America
4,091 +11.9% +15.9% Asia 1,599 -12.9% -11.7%
Sales in international markets rose by +4.5% on an
organic basis and by +3.6% on a LFL basis. The calendar effect was
a negative 0.1% in the quarter and currencies had an unfavorable
effect of 6.9%.
In Other European countries, organic sales were up by
+0.8%.
LFL sales in Spain were up by +2.5% on top of an already
positive comparable base in the fourth quarter of 2014.
Trends improved in Italy where LFL sales were up by
+3.5%. In Poland and in Romania1, they grew on an
already positive comparable base. They were down by 0.4% in
Belgium.
Organic sales in Latin America were up by +15.9%.
Currencies had an unfavorable effect of 22.2% due to the
depreciation of the Brazilian Real and Argentine Peso vs. the
euro.
In Brazil, organic sales were up by +13.5% (+8.5% LFL) on
an already high comparable base of +15.9%. All formats posted
remarkable growth. Organic sales in Argentina rose by
+23.3%, of which +22.3% LFL.
In Asia, organic sales were down by 11.7% and total sales
were down by 3.6% as the result of a positive currency effect of
+8.1%.
In China, in a context of slowing consumption, total
sales were down by 7.5%, and down 15.7% on an organic basis. In
line with our medium-term view, we are continuing to roll out our
action plan in the country. In Taiwan, sales rose for the
fourth consecutive quarter, by +4.2% on an organic basis and by
+2.6% LFL.
______________________
1 LFL sales in Romania are restated for the technical effect on
prices of the lower VAT rate.
Variation of 2015 full-year sales inc. VAT
Carrefour’s sales stood at €86,294m. The currency effect was
-1.0% and the impact of petrol prices was -1.6%, of which -2.9% in
France. The calendar effect was neutral.
Change at
current
exchange rates
inc. petrol
Change at
constant
exchange rates
inc. petrol
LFL inc. petrol
LFL ex petrol
ex calendar
France +2.4% +2.4% -1.0%
+1.3% Hypermarkets -1.4% -1.4% -1.6%
+0.6% Supermarkets -1.3% -1.3% -0.6% +1.9%
International
+3.1% +4.9% +3.2%
+3.3%
Other European countries +1.8%
+1.8% +1.2% +1.8% Spain +0.1%
+0.1% +1.2% +2.6% Italy +5.2% +5.2% +0.7% +0.8% Belgium -0.2% -0.2%
+1.0% +1.0%
Latin America +3.6% +15.5%
+11.7% +11.7% Brazil -4.3% +12.6% +8.2% +7.9%
Asia
+5.7% -9.2% -9.9%
-10.3% China +2.7% -12.3% -13.2% -13.5%
Group total +2.7%
+3.7% +1.2% +2.4%
Variation of 2015 fourth quarter sales
Carrefour’s sales stood at €22,430m. The currency effect was
-3.8% and the impact of petrol prices was -1.1%, of which -2.2% in
France. The calendar effect was -0.1%.
Change at
current
exchange
rates inc.
petrol
Change at
constant
exchange
rates inc.
petrol
LFL inc. petrol
LFL ex petrol
ex calendar
France +1.0% +1,0% -1.7%
+0.2% Hypermarkets -2.5% -2.5% -2.8%
-0.7% Supermarkets -0.9% -0.9% -0.1% +1.5%
International
-2.5% +4.6% +3.5%
+3.6%
Other European countries +0.5%
+0.7% +1.4% +2.2% Spain -0.5%
-0.5% +0.9% +2.5% Italy +3.1% +3.1% +3.0% +3.5% Belgium -1.0% -1.0%
-0.4% -0.4%
Latin America -6.2% +16.4%
+12.3% +11.9% Brazil -13.5% +14.3% +9.3% +8.5%
Asia
-3.6% -11.7% -12.8%
-12.9% China -7.5% -15.6% -16.7% -16.7%
Group total -0.8%
+3.0% +1.1% +2.1%
EXPANSION UNDER BANNERS – Q4 and full year 2015
In Q4 2015, Carrefour opened or acquired 282,000 gross sq. m.
Net of disposals or closures, the network added 179,000 sq. min the
quarter. Since the beginning of the year, the network has added
1,208,000 gross sq. m. (891,000 net sq. m.).
Thousands of sq. m.
Dec. 31,2014
Sept. 30, 2015
Openings/Store
enlargements
Acquisitions
Closures/
Store
reductions
Transfers
Total Q4
2015
change
Dec. 31, 2015
France 5,189 5,665 17 1 -14
3 5,668 Europe (ex Fr) 5,754 5,896 44 148 -50
142 6,039 Latin America 2,173 2,228 32 -2 30 2,258 Asia 2,758 2,745
27 -38 -11 2,734 Others1 761 813 15
15 828
Group 16,635 17,348
135 149 -104
179 17,526
STORE NETWORK UNDER BANNERS – Q4 and full year 2015
In Q4 2015, Carrefour opened or acquired 439 stores, principally
convenience stores (218). Net of disposals or closures, the network
added 238 stores in Q4 2015, bringing the total network to 12,296
stores at the end of December (+1,436 stores compared to 2014).
No. of stores
Dec. 31, 2014 Sept.
30, 2015 Openings
Acquisitions
Closures/
Disposals
Transfers
Total Q4
2015 change
Dec. 31,2015 Hypermarkets
1,447 1,471 18 4
-12 10
1,481 France 237 242
242 Europe (ex France) 477 482 6 4 -3 7 489
Latin America 291 299 5 5 304 Asia 375 374 4 -9 -5 369
Others1
67 74 3
3 77
Supermarkets 3,127
3,274 41 158
-31 20 188 3,462
France 960 981 1 1 20 22 1,003 Europe (ex France) 1,831 1,932 36
157 -29 164 2,096 Latin America 169 170 -2 -2 168 Asia 19 27 2 2 29
Others1 148 164 2
2 166
Convenience
6,111 7,141 201 17
-158 -20 40
7,181 France 3,673 4,326 51 -94 -20 -63 4,263 Europe (ex
France) 2, 035 2,390 121 17 -64 74 2,464 Latin America 370 384 20
20 404 Asia 0 3 5 5 8 Others1 33 38 4
4 42
Cash &
carry 175 172
172
France 143 142 142 Europe (ex France) 19 18 18 Others1 13
12
12
Group 10,860
12,058 260 179
-201 238 12,296
France 5,013 5,691 52 1 -94 -41 5,650 Europe (ex France) 4,362
4,822 163 178 -96 245 5,067 Latin America 830 853 25 -2 23 876 Asia
394 404 11 -9 2 406 Others1 261 288 9
9 297
_________________________
1 Maghreb, Middle East and Dominican Republic.
DEFINITIONS
LFL sales growth: Sales generated by stores opened for at
least twelve months, excluding temporary store closures, at
constant exchange rates.
Organic growth: LFL sales plus net openings over the past
twelve months, including temporary store closures, at constant
exchange rates.
Sales under banners: Total sales under banners including
sales by franchisees and international partnerships.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160114006397/en/
Investor Relations :Alessandra Girolami, Matthew Mellin,
Mathilde RodiéTel : +33 (0)1 41 04 28 83orShareholder RelationsTel
: +33 (0)805 902 902 (toll-free in France)orGroup CommunicationTel
: +33 (0)1 41 04 26 17
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