家乐福Carrefour S.A.（CRERF）2025财年第三季度业绩报告「OTC」（英文版）（14页）.pdf

1、Third-quarter 2025 sales October 22,2025 Q3 2025 Sales:up+2.1%LFL Full-year 2025 financial targets confirmed Like-for-like(LFL)sales growth of+2.1%in Q3 2025 In France,the food market remained dynamic in Q3 with strong activity in September(market growth:+2.0%)1 Carrefour confirms its solid market s

2、hare momentum,notably in September(market share growing+30bps)1 Sales increased by+0.7%LFL,or+1.6%LFL excluding Cora and Match.Legacy hypermarkets posted positive growth(+0.5%LFL),confirming the improvement initiated in Q2(+0.6%LFL),with increasingly positive momentum in food In Spain,sales were up+

3、1.3%LFL,with continued strong momentum in food(+2.4%LFL after+2.9%in Q2)In Brazil,Carrefour posted growth of+1.1%LFL,outperforming the market.High interest rates continue to weigh on purchasing power,with volumes remaining negative in the Cash&Carry market The commercial transformation of ex-Cora st

4、ores has been completed:alignment of prices to Carrefour legacy hypermarkets,roll out of all private label products,integration into Carrefours promotional mechanisms,leading to a steady increase in the number of tickets in stores;implementation of cost synergies per plan Sound execution of the cost

5、 savings plan:1.2bn target for 2025 confirmed Further progress on the strategic review:finalization of the sale of Carrefour Italy progressing in line with the plan and expected at the end of Q4;completion during Q3 of the refinancing of almost all of Carrefour Brazils debt,with a positive impact of

6、 c.100m on the Groups net income and net free cash-flow from 2026 onwards;expansion of the European buying alliance Concordis with the integration of the German group RTG International,effective as of the next negotiations for 2026 Full-year 2025 targets confirmed:slight growth in EBITDA,Recurring O