SALES UP +5.0% IN H1 AND +4.2% IN Q2

Regulatory News:

Carrefour (Paris:CA) :

  • 2015 first half sales: €42.3bn, up +5,0% in total and up +2.9% on an organic basis

    - France : Total growth ex petrol of +6.3% and organic growth of +1.8%; organic sales growth for the fifth consecutive half

    - International : Excellent growth of +7.3% in total ex petrol and +3.7% on an organic basis

  • 2015 second quarter sales: €21.4bn, up +4.2% in total and up +2.6% on an organic basis on an already strong comparable base in 2014

- France : Total growth ex petrol of +5.5%, organic growth of +1.1%

Growth in all formats on a strong comparable base

Launch of DIA store conversions in France

- International : Total growth of +5.6% ex petrol and +3.8% on an organic basis

Accelerating sales growth in Spain

Excellent performance in Latin America

Continued roll-out of action plan in China and further growth in Taiwan

First half 2015 consolidated sales inc. VAT

The Group posted sales of €42,320m. In the first half, currencies had a favorable impact of +1.3%. Petrol prices had an unfavorable impact of -1.6%.

     

Sales inc. VAT (€m)

  Organicgrowth ex petrol ex calendar     Total growth  

Inc. petrol

 

Ex. petrol

France 19,672 +1.8% +3.1%   +6.3% International 22,649   +3.7% +6.7%   +7.3% Group 42,320   +2.9% +5.0%   +6.9%  

Total sales under banners including petrol stood at €51.4bn in the first half of 2015, up +6.6% at current exchange rates.

Second quarter 2015 consolidated sales inc. VAT

The Group posted sales of €21,369m. This quarter, currencies had a favorable impact of +0.6%. The calendar effect had an unfavorable impact of -0.3%, and petrol prices had an unfavorable impact of -1.2%.

     

Sales inc. VAT (€m)

  Organic

growth ex petrol ex calendar

    Total growth  

Inc. petrol

  Ex.

petrol

France 10,168 +1.1% +3.3%   +5.5% International

11,202

  +3.8% +5.0%   +5.6% Group 21,369   +2.6% +4.2%   +5.5%  

Total sales under banners including petrol stood at €26.0bn in the second quarter of 2015, up +5.7% at current exchange rates.

FIRST HALF 2015 SALES INC. VAT

France

   

Sales inc. VAT (€m)

    Ex petrol, ex calendar   Total   LFL  

Organicchange

Inc. petrol   Ex. petrol France   19,672 +1.7%   +1.8% +3.1%   +6.3% Hypermarkets   10,209 +1.3%   +1.5% -0.6% +1.4% Supermarkets   6,418 +1.8% +1.5% -1.4% +1.4% Convenience and other formats   3,044 +3.3%   +4.2% +33.1%   +40.7%  

In the first half of 2015, France posted organic growth of +1.8%, on an already strong positive base both in 2014 and 2013. All formats once again posted organic growth.

International

    Sales inc. VAT

(€m)

    Ex petrol, ex calendar     Total   LFL  

Organicchange

Inc. petrol   Ex. petrol International   22,649 +2.2%   +3.7% +6.7%   +7.3% Other European countries 10,515 +0.2%   +0.3% +1.4%   +2.1% Latin America 8,159 +11.5% +15.5% +13.0% +13.7% Asia   3,975 -10.4%   -9.7% +9.3%   +9.3%  

Organic sales in international markets grew by +3.7% in the first half of 2015. Organic sales in Other European countries were positive in the half. Latin America remained strong, recording further organic growth of +15.5%. In Asia, organic sales were down by 9.7% but total sales were up +9.3%, benefiting from a positive currency effect.

SECOND QUARTER 2015 SALES INC. VAT

France

    Sales inc. VAT (€m)     Ex petrol, ex calendar     Total   LFL  

Organicchange

Inc. petrol   Ex. petrol France   10,168 +0.9%   +1.1% +3.3%   +5.5% Hypermarkets 5,220 +0.5%   +0.7% -1.0%   +0.4% Supermarkets 3,341 +1.2% +1.0% -0.4% +1.0% Convenience and other formats   1,607 +2.1%   +2.5% +31.4%   +37.7%  

In the second quarter, France recorded total growth ex petrol of +5.5% (including the DIA stores). Organic growth was solid at +1.1% on a strong 2014 comparable base, which itself came on top of 2013 numbers that had returned to positive territory.

In the quarter, petrol prices had an unfavorable impact of 2.2%. The calendar effect is estimated at -0.2%.

Organic sales at hypermarkets were up by +0.7% and LFL sales were up +0.5%. Food sales continued to grow.

Sales at supermarkets were up +1.0% on an organic basis. LFL sales were up +1.2%.

Organic sales in convenience and other formats continued to grow, increasing by +2.5%.

International

    Sales inc. VAT (€m)     Ex petrol, ex calendar     Total   LFL  

Organicchange

Inc. petrol   Ex.petrol International   11,202 +2.3%   +3.8% +5.0%   +5.6% Other European countries 5,366 -0.4%   -0.2% +0.7%   +1.3% Latin America 4,089 +10.7% +14.6% +7.8% +8.4% Asia   1,746 -9.2%   -8.6% +13.0%   +13.0%  

Organic sales in international markets were up by +3.8% (+2.3% LFL). The calendar effect was -0.4% in the quarter and the currency effect was +1.2%.

Organic sales in Other European countries were broadly stable (-0.2%).

LFL sales in Spain posted a strong performance, with sales accelerating, growing by +2.8% in the second quarter. LFL sales in Italy were down by 5.0% on a challenging comparable base, marked by a big promotional campaign linked to the football world cup in the second quarter of 2014. LFL sales in Belgium were stable on an equally strong comparable base in 2014. LFL sales were down in Poland. LFL sales continued to grow in Romania despite a three percentage point impact from the strong drop in VAT on food products beginning June 1st.

Organic sales in Latin America were up by +14.6%. The currency impact was a negative -5.8% linked to the unfavorable evolution of the Brazilian Real versus the euro, partly offset by the positive evolution of the Argentine Peso.

In Brazil, organic sales were up by +11.4% (+7.1% LFL) on an already strong comparable base of +10.0% in the second quarter of 2014. All formats continued to grow. Organic sales in Argentina were up by +25.9%, of which +23.1% LFL.

In Asia, total sales were up +13.0%, including a positive currency effect. Organic sales were down 8.6%.

In China, in a slowing consumption environment, sales were down 11.4% on an organic basis and 12.3% LFL. We are continuing the roll-out of our action plan in the country. In Taiwan, sales grew for the second consecutive quarter, both LFL and on an organic basis (+2.1% and +1.4% respectively).

Variation of 2015 first-half sales inc. VAT

     

Change at currentexchange rates inc.petrol

 

Change atconstantexchangerates inc.petrol

 

LFLinc. petrol

 

LFLex calendarex petrol

France +3.1%   +3.1%   -0.6%   +1.7% Hypermarkets -0.6%   -0.6%   -0.8%   +1.3% Supermarkets -1,4% -1.4% -1.0% +1.8%                 International +6.7%   +4.1%   +2.2%   +2.2%                 Other European countries +1.4%   +1.3%   -0.2%   +0.2% Spain -0.5% -0.5% +0.3% +1.6% Italy +3.5% +3.5% -2.9% -3.1% Belgium -0.4% -0.4% +1.0% +1.0%                 Latin America +13.0%   +14.9%   +11.5%   +11.5% Brazil +6.2% +11.8% +8.0% +7.8%                 Asia +9.3%   -9.1%   -9.8%   -10.4% China +6.7% -11.7% -12.6% -13.3%                 Group total +5.0%   +3.7%   +0.9%   +2.0%  

Variation of 2015 second quarter sales inc. VAT

     

Change at current exchange rates inc. petrol

 

Change at constant exchange rates inc. petrol

 

LFLinc. petrol

 

LFLex calendarex petrol

France +3.3%   +3.3%   -0.6%   +0.9% Hypermarkets -1.0%   -1.0%   -1.3%   +0.5%

Supermarkets

-0.4% -0.4% 0.0% +1.2%                 International +5.0%   +3.8%   +1.8%   +2.3%                 Other European countries +0.7%   +0.5%   -0.9%   -0.4% Spain +0.2% +0.2% +1.6% +2.8% Italy +0.9% +0.9% -5.3% -5.0% Belgium -0.6% -0.6% +0.1% 0.0%                 Latin America +7.8%   +13.6%   +10.1%   +10.7% Brazil -0.4% +10.7% +6.9% +7.1%                 Asia +13.0%   -8.6%   -9.1%   -9.2% China +10.2% -11.5% -12.4% -12.3%                 Group total +4.2%   +3.6%   +0.7%   +1.7%  

EXPANSION UNDER BANNERS – Q2 2015

In Q2 2015, Carrefour opened or acquired 221,000 gross sq. m. Net of disposals and closures, the network added 120,000 sq. m in Q2 2015. Since the beginning of the year, the network has added 783,000 gross sq. m (627,000 net sq. m).

Thousands of sq. m    

Dec 31, 2014

   

March 31, 20151

   

Openings/Storeenlargements

    Acquisitions    

Closures/

Storereductions

   

Total Q2 2015 change

   

June 30, 2015

France     5,189     5,649     22     (1)     (9)     13     5,662 Europe (ex France) 5,753 5,783 100 2 (34) 69 5,852 Latin America 2,173 2,176 33 33 2,209 Asia 2,757 2,760 34 (59) (25) 2,735 Others2     761     771     30                 30     802 Group     16,633     17,140     219     2     (101)     120     17,260  

STORE NETWORK UNDER BANNERS – Q2 2015

In Q2 2015, Carrefour opened or acquired 354 stores. Net of disposals or closures, the network added 225 stores in Q2 2015, bringing the total network to 11,910 stores at the end of June.

No of stores    

Dec 31, 2014

   

March 31, 20151

   

Openings

   

Acquisitions

   

Closures/Disposals

    Transfers    

Total Q2 2015 change

    June 30,2015 Hypermarkets     1,459     1,452     17           (8)           9     1,461 France     237     242                         242 Europe (ex France) 489 476 3 3 479 Latin America 291 291 5 5 296 Asia 375 375 5 (8) (3) 372

Others2

    67     68     4                       4     72 Supermarkets     3,115     3,139     94           (24)     1     71     3,210 France 960 960 2 1 3 963 Europe (ex France) 1,819 1,837 81 (24) 57 1,894

Latin America

169 170 170 Asia 19 20 2 2 22 Others2     148     152     9                       9     161 Convenience     6,111     6,919     207     36     (95)     (1)     147     7,066 France 3,673 4,317 64 (47) (1) 16 4,333 Europe (ex France) 2,035 2,194 136 36 (46) 126 2,320 Latin America 370 373 3 (2) 1 374 Asia - - 2 2 2 Others2     33     35     2                       2     37 Cash & carry     175     175                 (2)           (2)     173 France 143 143 (1) (1) 142 Europe (ex France) 19 19 (1) (1) 18 Others2     13     13                                   13 Group     10,860     11,685     318     36     (129)           225     11,910 France 5,013 5,662 66 (48) 18 5,680 Europe (ex France) 4,362 4,526 220 36 (71) 185 4,711 Latin America 830 834 8 (2) 6 840 Asia 394 395 9 (8) 1 396 Others2     261     268     15                       15     283  

1 Restated for Dia stores which have been sold or are in the process of being sold2 Maghreb, Middle East-Orient 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 storeclosures, at constant exchange rates.

Sales under banners: Total sales under banners including sales by franchisees and international partnerships.

Note: LFL and organic growth numbers are presented ex calendar and ex petrol.

CarrefourInvestor 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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