家乐福Carrefour S.A.（CRERF）2024年第一季度业绩报告「OTC」（中译版）（16页）.pdf

1、Q1 2024 SalesApril 24th,2024April 24,2024Q1 2024 SALES2Q1 2024:Solid execution of strategic roadmapGroup sales up+13.5%LFL in Q1 Stable sales in France and the rest of Europe,marked by a sharp slowdown in inflation and price investments Inflection in Brazil and continued strong momentum in Argentina

2、Intensification of price investments in France and other Europe,supported by strengthened cost savings plan FY24 cost savings target raised to 1.2bn(vs.1.0bn)Sound execution of strategic initiatives in Q1 Continued increase in sales of Carrefour-branded products,reaching 37%of total sales(+2 pts YoY

3、)E-commerce GMV up+33%,driven notably by Brazil NPS up+6 points(+8 points in France),notably thanks to an improvement in price perception criteria Ramp-up of European purchasing platform(“Eureca”),with 20 active suppliers(+16 vs 2023)FY 2024 financial targets confirmed:Growth in EBITDA and Recurring

4、 Operating Income vs 2023,Net FCF in line with the Carrefour 2026 plan trajectory700m annual share buyback program well-advanced,with 428m secured to dateApril 24,2024Q1 2024 SALES3Q1 2023Gross salesLFLExpansion&M&APetrolCalendarForexQ1 2024Gross sales+0.4%Q1 sales growth driven by LFL+13.5%(0.4)%(2

5、.3)%+1.4%(11.8)%22,071m22,156mApril 24,2024Q1 2024 SALES4Source:Local national institutes of statistics1.7%4.3%2.9%3.1%0.3%2.8%0%5%10%15%20%25%Continued slowdown in food inflation in Europe0.6%0.3%0.9%1.4%1.0%0.8%1.0%1.7%1.1%1.7%0.5%0.5%1.7%1.7%1.8%0.6%0.3%0.3%0.1%0.3%(0.3)%0.0%0.4%0.0%0.2%(0.3)%0.0

6、%-1%MoM food inflation in FranceYoY food inflation in EuropeApril 24,2024Q1 2024 SALES5FRANCEFrance:Stable sales;Price investments underway10,000m4,807m3,392m1,802mFranceHypermarketsSupermarketsOther formatsQ1 Sales inc.VAT-2.1%-3.8%-0.1%-1.3%Variation vs.Q1 23+0.8%+0.1%-1.3%-0.4%LFL ex.petrolex.cal