FY 2024 Results
Q4 2024 Sales
February 19th, 2025
Strategic overview
Challenging markets in 2024
Lasting impact of the inflationary peak on consumption
Consumption under pressure in Europe (trading down, volumes under pressure)
Customers focus
on prices
Increased competitive
pressure
among retailers
Sharpened value
propositions
Aggressive price
positionings
Optimized cost
structures
Additional polarization
& concentration
Consolidation dynamics
under way
|
FY 2024 RESULTS |
February 19, 2025 |
3 |
2024: Strong achievements and sequential business improvements
France
- Strong price investments driving upward market share dynamics
- Recurring Operating Income up +5.5% to €1,042m - ROI margin up 5bps
- Successful integration of Cora & Match - €130m synergies by 2027 confirmed
Spain
Brazil
- Strong price investments in 2024 leading to positive market share trends at year-end
- Sequential topline improvement throughout the year with positive Q4 LFL sales growth (+1.8%)
- Price investments and Financial Services pressing Recurring Operating Income
- Good momentum: market growth, market share up, positive volumes
- Stores portfolio optimization now well advanced and close to completion
- Continued traction from ex-BIG stores; R$2.9bn run rate synergies at Dec. end 2024
- ROI up 23.4% at constant Forex to €764m (+14.4% at current Forex)
|
FY 2024 RESULTS |
February 19, 2025 |
4 |
2024: Strategic levers progressing well
|
Private labels |
E-commerce |
Customer satisfaction
+1.3pt to 37%
of food sales
M&A
€5.9bn GMV
(+18% vs. 2023)
Act for Food II
Group NPS® +5pts
ESG
Successful integration
FY 2024 RESULTS
Launched in October 2024
111%
|
February 19, 2025 |
5 |
CSR & Food Transition Index: 111% achievement rate
Climate
53% of Top 100 suppliers have a 1.5°C trajectory
(+9 pts vs end-2023)
-48% reduction of store greenhouse gas emissions
vs. 2019
Bulk sales
€256m in bulk sales in 2024
(vs. €195m in 2023(1))
Food transition
€621m in sales of
plant-based alternatives
(2026 target of €650m)
393 suppliers committed to the
Food Transition Pact
(+87 vs. 2023)
Employees
14,201 employees
with disabilities
(+843 vs 2023)
Carrefour is one of the 5 food retailers, and the only one in Europe,
to be part of the Dow Jones Sustainability World Index
(1) Application of a more restrictive calculation methodology, selecting only sales of products that take into account the offer of an effective reuse service
|
FY 2024 RESULTS |
February 19, 2025 |
6 |
2024: Steady delivery of key financial indicators
Net Sales
€85.4bn
+2.6% at current
exchange rates
Net free
cash-flow
€1,457m
in line with plan
EBITDA
€4,637m
+1.7% vs. 2023
Net debt
end-December 2024
Increased by
+€1,220m
to €3,780m
(Cora/Match acquisition)
Cost savings
€1,240m
Ordinary dividend
€0.92/share
(+6% vs. last year)
Recurring
Operating Income
€2,213m
-2.2%
+1.4% excl.change
Special
dividend
€150m
€0.23/share
|
FY 2024 RESULTS |
February 19, 2025 |
7 |
Financial results
Q4 sales growth driven by LFL and M&A
|
+2.6% |
||||||
|
+5.6% |
+0.5% |
|||||
|
+7.1% |
||||||
|
(1.1)% |
€25,704m |
|||||
|
€25,055m |
||||||
|
(9.5)% |
||||||
|
Q4 2023 |
LFL |
Expansion & |
Petrol |
Calendar |
Forex |
Q4 2024 |
|
Gross sales |
M&A |
Gross sales |
|
FY 2024 RESULTS |
February 19, 2025 |
9 |
LFL sales in FY 2024
|
LFL |
H1 |
Q3 |
Q4 |
FY |
|
Group |
+12.1% |
+8.8% |
+7.1% |
+9.9% |
|
France |
-2.0% |
-3.0% |
-2.1% |
-2.3% |
|
Hypermarkets |
-3.4% |
-6.1% |
-3.8% |
-4.2% |
|
Supermarkets |
-1.2% |
-1.5% |
-1.6% |
-1.4% |
|
Convenience/ |
-0.1% |
+1.5% |
+1.4% |
+0.7% |
|
other formats |
||||
|
Europe |
-1.5% |
-1.5% |
+0.6% |
-0.9% |
|
Spain |
-0.8% |
-1.1% |
+1.8% |
-0.2% |
|
Italy |
-3.5% |
-3.1% |
-0.6% |
-2.6% |
|
Belgium |
-2.0% |
-2.2% |
-0.3% |
-1.6% |
|
Romania |
+0.9% |
+1.5% |
+1.4% |
+1.2% |
|
Poland |
-3.3% |
-3.0% |
-2.3% |
-3.0% |
|
LatAm |
+46.2% |
+36.4% |
+25.6% |
+38.1% |
|
Brazil |
+3.8% |
+5.8% |
+6.0% |
+4.9% |
|
Atacadão |
+4.7% |
+5.6% |
+6.3% |
+5.4% |
|
Retail |
+0.4% |
+7.1% |
+5.9% |
+3.4% |
|
Sam's Club |
+4.6% |
+3.2% |
+2.1% |
+3.5% |
|
Argentina |
+247.1% |
+185.8% |
+111.0% |
+176.0% |
+9.9%
LFL in 2024
- France: Better Q4 thanks to positive market share dynamics despite price investments and a market marked by negative volumes (food: -1.6% LFL and non-food: -8.1% LFL)
- Spain: Sequential improvement in Q4 (+1.8% LFL vs -1.1% LFL in Q3). Positive market share momentum
- Italy: Significant improvement in Q4 (-0.6% LFL) with a recovery in volumes. Continued transformation with transfers to lease- management and franchise.
- Belgium: Solid resilience against high comparables. Customer satisfaction at a record high across all formats
- Romania: Positive performance. Ramp-up of ex-Cora stores.
- Poland: Highly competitive environment
- Brazil: Sound growth in an environment marked by accelerating food inflation throughout the year and volume growth
- Argentina: Healthy commercial dynamics in a macro-economic context that tends to normalize despite a marked drop in volumes
|
FY 2024 RESULTS |
February 19, 2025 |
10 |
Attachments
Disclaimer
Carrefour SA published this content on February 19, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 19, 2025 at 16:49:29.896.
