Carrefour: 2019 net profit, group share reaches E1,314m

(CercleFinance.com) - Carrefour's sales including VAT increased by 3.
1% on a comparable basis (LFL) in 2019.
The group's sales including VAT totalled 80,735 million euros pre-IAS 29, up 2.1% at constant exchange rates.

After taking into account an unfavourable FX impact of -2.4%, the total change in sales at current exchange rates amounts to -0.4%.

Its commercial margin was 22.3% of net sales, down 9bp. The group's EBITDA reached 3,485 million euros, representing a margin of 4.8%, up 10bp.

Net income, group share came in at 1,314 million euros, compared to (582) million euros in 2018. Free cash flow reached 582 million euros in 2019, down slightly (-54 million euros) compared to 2018.

The group confirms its financial targets, including 4.2 billion euros in food e-commerce sales in 2022 and 4.8 billion euros in organic product sales in 2022.

Carrefour has reaffirmed its aims and announces new targets for the Carrefour 2022 plan, with a 15-point increase in group NPS over 2020-2022, i.e. +23 points since the start of the plan, a savings plan raised to 2.8 billion euros (full-year) by 2020 (compared to 2.6 billion euros previously) and a new target of additional sales of 300 million euros of non-core real estate assets by 2022.


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