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VERY GOOD PERFORMANCE
+3.3% in the full year and +3.5% in Q4 (ex petrol)
Regulatory News:
Carrefour (Paris:CA):
Fifth consecutive year of like-for-like sales growth and the best yearly performance over the period, at +3.0%:
Solid performance in Q4 2016: €23.4bn, +2.9% like-for-like
Sales inc. VAT(€m)
LFL ex petroland excalendar
Total growthex petrol atconstant exch.rates
Sales inc. VAT(€m)
LFL ex petroland excalendar
Total growth expetrol atconstant exch.rates
International 12,606 +4.5% +6.6% 45,574 +4.9% +6.3% France 10,761 +0.7% -0.3% 40,126 +0.3% -0.5%Group
23,366 +2.9% +3.5% 85,700 +3.0% +3.3%Total sales under banners including petrol stood at €27.9bn in Q4 2016 and at €103.7bn in the full year, up respectively by 3.7% and 2.1% at constant exchange rates.
In the fourth quarter, currencies and petrol both returned to positive territory and each had favorable impacts of 0.3%; the calendar effect had an unfavorable impact of 0.1%. In full-year 2016, currencies and petrol prices had adverse impacts of 3.4% and 0.6% respectively, and the calendar effect was +0.1%.
GOOD PERFORMANCE IN FULL-YEAR 2016
FIFTH CONSECUTIVE YEAR OF SALES GROWTH
Sales inc. VAT (€m)LFL ex petroland excalendar
Total growthex petrol atconstantexch. rates
International 45,574 +4.9% +6.3% Other European Countries 22,439 +2.0% +2.3% Latin America 16,254 +13.5% +16.8% Asia 6,881 -5.0% -4.1% France 40,126 +0.3% -0.5%Carrefour posted a strong performance in 2016, with total sales of €85.7bn, up 3.3% ex petrol at constant exchange rates. Sales were up both in Europe and in the rest of the world, attesting to the relevance of Carrefour’s predominantly food-based multi-format model. Full-year 2016 was marked by excellent performance in food and the Group’s omni-channel evolution.
Sales in our international activities were up +4.9% LFL in the full year. They were up +2.0% in Other European Countries. Each country contributed to this growth. Latin America continued its strong momentum and recorded strong growth of +13.5% LFL. Trends in Asia improved.
In 2016, Carrefour continued rolling out its multi-format model, accelerating openings of convenience stores, notably in Brazil, Spain, Poland and China. The group also continued its strategy of tactical acquisitions, in Romania with Billa and in Spain with selected Eroski stores.
In the full year, France posted LFL sales growth of +0.3% in a challenging environment. This increase illustrates the attractiveness of our stores and the strength of our multi-format model. Indeed, shoppers using several Carrefour formats already represented half of the total client base and two-thirds of our sales. In addition, the omni-channel approach gained momentum: Gross Merchandise Value of our food and non-food e-commerce activities stood at above €1 billion.
SOLID FOURTH QUARTER 2016 PERFORMANCE
Sales inc. VAT (€m)LFL ex petroland excalendar
Total growthex petrol atconstantexch. rates
International 12,606 +4.5% +6.6% Other European Countries 6,296 +2.5% +3.9% Latin America 4,788 +10.8% +14.3% Asia 1,522 -4.2% -2.3% France 10,761 +0.7% -0.3%Carrefour posted a very good performance in the fourth quarter of 2016, with sales of €23.4bn, up 3.5% ex petrol at constant exchange rates.
Sales of our international activities were up +4.5% on a like-for-like basis and up +6.6% ex petrol at constant exchange rates.
In Other European countries, LFL sales were up +2.5%. Every country posted growth:
In Latin America, LFL sales continued to grow by +10.8% on the back of already strong comparables. The currency effect was positive at +3.2%:
In Asia, LFL sales were down 4.2%:
France posted good LFL growth of +0.7% in a persistently difficult environment.
LFL sales in hypermarkets were down 1.2%, impacted by the anticipation to Q3 of the Carrefour Anniversary Month. Food sales continued to grow, demonstrating the quality of our offer.
Supermarkets posted a good performance, up +3.3% on a like-for-like basis, the ninth consecutive quarterly increase.
LFL sales in convenience and other formats were up +2.9%.
The conversion of stores acquired from Dia was nearly completed, with 622 stores in total under Carrefour banners to date.
Variation of fourth quarter 2016 sales inc. VAT
Totalsalesinc. VAT(€m)
Change atcurrentexchangerates inc.petrol
Change atconstantexchangerates inc.petrol
LFL inc. petrolLFL ex petrolex calendar
Organicgrowth expetrol excalendar
International 12,606 +7.1% +6.5% +4.5% +4.5% +5.9%Other European countries 6,296 +3.6% +4.0% +2.5% +2.5% +2.7% Spain 2,529 +3.4% +3.4% +3.5% +4.1% +4.0% Italy 1,477 -1.5% -1.5% +0.7% +0.6% -1.2% Belgium 1,185 +1.0% +1.0% +0.7% +0.5% +0.8% Latin America 4,788 +17.0% +13.9% +10.7% +10.8% +14.1% Brazil 3,851 +33.1% +12.4% +8.6% +9.0% +13.0% Asia 1,522 -4.9% -2.3% -3.7% -4.2% -2.7% China 1,122 -9.0% -4.2% -5.4% -5.4% -4.3% France 10,761 +0.9% +0.9% +1.8% +0.7% -0.5% Hypermarkets 5,758 -1.3% -1.3% -0.9% -1.2% -1.6% Supermarkets 3,400 +1.5% +1.5% +3.0% +3.3% +0.5% Convenience /other formats 1,602 +8.4% +8.4% +10.8% +2.9% +1.6% Group Total 23,366 +4.2% +3.9% +3.3% +2.9% +3.0%
Variation of full-year 2016 sales inc. VAT
Totalsalesinc. VAT(€m)
Change atcurrentexchangerates inc.petrol
Change atconstantexchangerates inc.petrol
LFL inc. petrolLFL ex petrolex calendar
Organicgrowth expetrol excalendar
International 45,574 -0.3% +6.1% +4.8% +4.9% +6.0% Other European countries 22,439 +1.4% +1.9% +1.6% +2.0% +1.8% Spain 8,964 +1.2% +1.2% +1.3% +2.3% +2.2% Italy 5,484 -1.0% -1.0% +1.8% +2.1% +0.9% Belgium 4,382 +0.6% +0.6% +0.5% +0.3% +0.3% Latin America 16,254 +0.9% +16.6% +13.4% +13.5% +16.7% Brazil 12,858 +10.6% +15.0% +10.9% +11.0% +15.1% Asia 6,881 -7.8% -4.1% -4.8% -5.0% -4.3% China 5,075 -11.6% -7.2% -7.6% -7.8% -7.4% France 40,126 -1.2% -1.2% -0.1% +0.3% -0.9% Hypermarkets 20,815 -2.6% -2.6% -2.3% -1.5% -1.8% Supermarkets 12,945 -0.9% -0.9% +0.4% +2.6% -0.3% Convenience/other formats 6,367 +3.2% +3.2% +7.9% +1.8% +0.8% Group Total 85,700 -0.7% +2.7% +2.6% +3.0% +3.0%EXPANSION UNDER BANNERS – Fourth quarter 2016
Thousands of sq. m.Dec 31, 2015
Sept. 30, 2016
Openings/Storeenlargements
AcquisitionsClosures/StoreReductions
Total Q42016 change
Dec 31, 2016
France 5,668 5,702 33 - -16 17 5,719 Europe (ex France) 6,039 5,436 62 16 -66 12 5,449 Latin America 2,258 2,286 50 - - 50 2,335 Asia 2,734 2,764 5 - -10 -5 2,758 Others1 828 897 24 - -1 23 920 Groupe 17,526 17,085 174 16 -94 96 17,181STORE NETWORK UNDER BANNERS – Fourth quarter 2016
No. of storesDec. 31, 2015
Sept. 30, 2016
Openings AcquisitionsClosures/Disposals
TransfersTotal Q42016 change
Dec. 31. 2016
Hypermarkets 1,481 1,447 16 2 -3 - 15 1,462 France 242 242 1 - - - 1 243 Europe (ex France) 489 435 4 2 -2 - 4 439 Latin America 304 308 8 - - - 8 316 Asia 369 375 - - -1 - -1 374Others1
77 87 3 - - - 3 90 Supermarkets 3,462 3,243 36 - -67 15 -16 3,227 France 1,003 1,044 2 - - 16 18 1,062 Europe (ex France) 2,096 1,820 23 - -66 - -43 1,777 Latin America 168 168 - - - - - 168 Asia 29 33 5 - - - 5 38 Others1 166 178 6 - -1 -1 4 182 Convenience 7,181 6,951 232 - -93 -15 124 7,075 France 4,263 4,226 66 - -54 -16 -4 4,222 Europe (ex France) 2,464 2,232 119 - -39 0 80 2,312 Latin America 404 433 35 - - - 35 468 Asia 8 18 9 - - - 9 27 Others1 42 42 3 - - 1 4 46 Cash & carry 172 171 - - - - - 171 France 142 143 - - - - - 143 Europe (ex France) 18 13 - - - - - 13 Asia 0 2 - - - - - 2 Others1 12 13 - - - - - 13 Group 12,296 11,812 284 2 -163 0 123 11,935 France 5,650 5,655 69 - -54 - 15 5,670 Europe (ex France) 5,067 4,500 146 2 -107 0 41 4,541 Latin America 876 909 43 - - - 43 952 Asia 406 428 14 - -1 - 13 441 Others1 297 320 12 - -1 0 11 331DEFINITIONS
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.
1 Africa, Middle East and Dominican Republic.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118006328/en/
CarrefourInvestor Relations: Mathilde Rodié, Anne-Sophie LanauteTel : +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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