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Full-year 2013 sales: €84.3bn, organic growth of +2.5%1

• Growth rebounds in France: +1.3%
• Continued momentum of International activities: +3.5% including +12.6% in Latin America

Q4 2013 sales: €22.2bn, organic growth of +3.2%1

• France: another quarter of growth in all formats, +1.7%
• Solid performance in International activities: sales up +4.2%; continued growth in emerging markets, Spain returns to positive territory with growth of +1.7%

2013 Recurring Operating Income:

• The Group is comfortable with the consensus, which stands at €2.19bn

Regulatory News:

Carrefour (Paris:CA):

Full-year 2013 sales inc. VAT2

 

  €m   Totalgrowth   Organic growthex. petrol   Organic growthex. petrolex. calendar France 39,726 +0.2% +1.0% +1.3% International 44,598 -2.5% +3.4% +3.5% Total Group 84,324 -1.2% +2.3% +2.5%  

For the full-year 2013, total sales under banners stood at €100.2bn, up 1.5% at constant exchange rates.

Fourth quarter 2013 sales inc. VAT2

 

  €m   Totalgrowth   Organic growthex. petrol   Organic growthex. petrolex. calendar France 10,604 +0.3% +2.0% +1.7% International 11,593 -3.1% +4.3% +4.2% Total Group 22,197 -1.5% +3.4% +3.2%  

In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.

Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.

FRANCE

Fourth quarter 2014 sales inc. VAT

    €m     Change inc. petrol     Change ex-petrol    

Change ex.petrolex. calendar

LFL  

Organicgrowth

  Total LFL  

Organicgrowth

  Total Organic growth Hypermarkets 6,097 0.0%   +0.3%   +0.3% +1.4%   +1.7%   +1.7% +1.3% Supermarkets 3,376 +0.4% -0.5% -0.5% +2.9% +1.8% +1.8% +2.1% Convenience and other formats 1,131 +2.2%   +2.7%   +2.7% +4.4%   +4.6%   +4.6% +4.3% France 10,604 +0.4%   +0.3%   +0.3% +2.2%   +2.0%   +2.0% +1.7%  

Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.

Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.

Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.

Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).

INTERNATIONAL

Fourth quarter 2013 sales inc. VAT4

 

    €m    

Change at constant exch. ratesinc. petrol

   

Change at constant exch. rates ex. petrol

   

Change atcurrentexch.rates inc.petrol

   

Change ex.petrol ex.calendar

LFL  

Organicgrowth

  Total LFL  

Organicgrowth

  Total Total

Organicgrowth

Other European countries 5,991 -1.6% -1.0% -0.7% -1.4% -0.7% -0.4% -0.8% -0.7% Latin America 3,973 +11.3% +12.7% +11.9% +11.1% +12.6% +11.8% -6.9% +12.6% Asia 1,629 -2.9%   +1.3%   +1.3% -2.9%   +1.3%   +1.3% -1.9% +0.7% International 11,593 +2.7%   +4.2%   +4.1% +2.8%   +4.3%   +4.2% -3.1% +4.2%  

The Group’s international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.

Other European countries

Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.

Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.

Latin America

Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.

In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.

Asia

Organic sales in Asia were up 1.3%.

In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.

FULL-YEAR 2013 SALES INC. VAT6

 

    €m    

Change at constant exch. ratesinc. petrol

   

Change at constant exch. rates ex. petrol

   

Changeat currentexch.ratesinc.petrol

   

Change ex.petrol ex.calendar

LFL  

Organicgrowth

  Total LFL  

Organicgrowth

  Total Total

Organicgrowth

Hypermarkets 21,918 -0,3%   +0.1%   +0.1% +0.2%   +0.7%   +0.7% +0.1% +1.0% Supermarkets 13,253 +0,2% -0.7% -0.7% +0.9% +0.6% +0.6% -0.7% +1.0% Convenience and others 4,556 +3,8%   +3.7%   +3.7% +3.7%   +4.0%   +4.0% +3.7% +4.2% France 39,726 +0,3%   +0.2%   +0.2% +0.8%   +1.0%   +1.0% +0.2% +1.3% Other European countries 21,790 -2.9% -2.8% -2.6% -2.8% -2.8% -2.5% -2.6% -2.6% Latin America 15,536 +11.2% +12.4% +12.2% +10.9% +12.3% +12.1% -3.7% +12.6% Asia 7,272 -1.9%   +2.2%   +2.2% -1.9%   +2.2%   +2.2% +0.8% +1.9% International 44,598 +2.2%   +3.4%   +3.4% +2.1%   +3.4%   +3.4% -2.5% +3.5% Group 84,324 +1.3%   +1.9%   +1.9% +1.6%   +2.3%   +2.4% -1.2% +2.5%  

EXPANSION UNDER BANNERS – Q4 2013

In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.

Thousands of sq. m    

31 Dec.20127

   

30 Sep.2013

   

Opening/Storeenlargements

    Acquisitions    

Closures/Storereductions

    Transfers     Disposals    

Total Q42013 change

   

31 Dec.2013

France     5,075     5,061     18         -8             10     5,071 Europe (ex. Fr) 5,630 5,499 67 -28 40 5,539 Latin America 2,045 2,065 30 -7 23 2,088 Asia 2,592 2,644 126 -5 121 2,765 Others8     608     689     23           -1                 22     712 Group     15,949     15,958     264           -49                 215     16,176  

STORE NETWORK UNDER BANNERS – Q4 2013

In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).

No. of stores    

31 Dec.20127

   

30 Sep. 2013

    Openings     Acquisitions     Closures     Transfers     Diposals    

Total Q42013 change

   

31 Dec.2013

Hypermarkets     1,366     1,386     24           -2     13           35     1,421 France     232     234                                         234 Europe (ex Fr)     457     460     2                 13           15     475 Latin America     272     273     5           -1                 4     277 Asia     350     357     15           -1                 14     371

Others8

    55     62     2                             2     64 Supermarkets     2,986     2,878     73           -21     -13           38     2,917 France     964     949                                         949 Europe (ex Fr)     1,728     1,624     66           -20     -13           32     1,656 Latin America     168     168     1                             1     169 Asia     16     17                                         17 Others8     110     120     6           -1                 5     126 Convenience     5,479     5,456     214           -78                 137     5,593 France     3,405     3,425     85           -52                 33     3,458 Europe (ex Fr)     1,819     1,717     102           -25                 78     1,795 Latin America     235     292     25           -1                 24     316 Asia     0     0                                         0 Others8     20     22     2                             2     24 Cash & carry     164     173     2           -1                 1     174 France     140     139                 -1                 -1     138 Europe (ex Fr)     14     19                                         19 Asia     4     4     1                             1     5 Others8     6     11     1                             1     12 Group     9,995     9,893     313           -102                 212     10,105 France     4,741     4,747     85           -53                 32     4,779 Europe (ex Fr)     4,018     3,820     170           -45                 125     3,945 Latin America     675     733     31           -2                 29     762 Asia     370     378     16           -1                 15     393 Others8     191     215     11           -1                 10     226                                    

DEFINITIONS

LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.

Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.

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

1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.

2 Figures are proforma, excluding discontinued activities.

3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.

4 Figures are proforma, excluding discontinued activities.

5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.

6 Figures are proforma, excluding discontinued activities.

7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.

8 Maghreb, Middle East and Dominican Republic.

CarrefourInvestor Relations:Réginald Gillet, Alessandra Girolami, Matthew MellinTel: +33 (0)1 41 04 26 00orShareholder RelationsTel: +33 (0)805 902 902 (toll-free in France)orGroup CommunicationTel: +33 (0)1 41 04 26 17