Casino: net loss hits E886m in 2020
(CercleFinance.com) - The group's consolidated revenue came in at 31.
9 billion euros in 2020, representing organic growth of 9.0%, although a reported decline of 7.9%.
Group EBITDA amounted to 2,742 million euros, up +3.9% after FX factors and +17.0% at constant exchange rates. Group underlying OP reached 1,426 million euros (1,287 million euros excluding tax credits), up 7.9% after FX factors and +25.2% at constant exchange rates (up 14.8% excluding tax credits).
Net income, group share from continuing operations came in at 370 million euros (compared with 396 million euros in 2019). At the bottom line, the food retailer made a loss of 886 million euros, significantly below the 1,444 million euro loss in 2019.
Casino's Board of Directors will not propose a dividend for FY 2020 at the 2021 AGM. Regarding its outlook for 2021, the group targets profitable growth, cash flow generation and a continued reduction in its debt.
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