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Management’s discussion and analysis as of December 31, 2015
First quarter 2016 sales
First quarter 2016 sales
4.5
Good start to the year, accelerating growth in international markets
First quarter 2016 sales: 20.1 billion euros
+3.8% ex petrol at constant exchange rates;
●
+3.1% like-for-like;
●
-4.3% in total;
●
+3.2% on an organic basis.
●
France: stable reported sales ex petrol on a strong comparable base International: reported growth of +6.4% ex petrol and ex currencies,
(+7.9% in Q1 2015):
+5.3% on a like-for-like basis:
further growth in food sales;
●
accelerating growth in Europe; all countries posted like-for-like
●
sales growth;
acceleration of conversion of stores acquired from Dia, as previously
●
announced; 115 stores converted in Q1;
continued excellent performance in Latin America;
●
roll-out of omni-channel including the contribution of
Rue du
●
very good momentum in Taiwan; in China, like-for-like sales
●
Commerce
.
improved sequentially
versus
Q4 2015.
First quarter 2016 consolidated sales inc. VAT
The Group posted sales of 20,053
million euros. In the quarter, currencies and petrol prices had unfavourable impacts of 6.9% and 1.2%
respectively. The calendar effect was +0.6%.
Total growth
Sales inc. VAT LFL ex petrol and ex petrol at constant
(in millions of euros)
ex calendar
exch. rates
International
10,718
+5.3%
+6.4%
France
9,335
0.0%
+0.1%
GROUP
20,053
+3.1%
+3.8%
Total sales under banners including petrol stood at 24.6 billion euros in the first quarter of 2016, up 2.5% at constant exchange rates.
First quarter 2016 inc. VAT
Total growth
Sales inc. VAT LFL ex petrol and ex petrol at constant
(in millions of euros)
ex calendar
exch. rates
France
9,335
0.0%
+0.1%
International
10,718
+5.3%
+6.4%
Other European countries
5,196
+3.2%
+2.3%
Latin America
3,451
+13.5%
+18.3%
Asia
2,071
(4.9)%
(5.2)%
In the first quarter,
France
recorded stable sales ex petrol (+0.1%), a Like-for-like sales in
convenience and other formats
were up +1.1%.
good performance over the strong +7.9% growth posted in the first
The transformation of stores acquired from Dia has gained pace since
quarter of 2015. Food sales grew in the first quarter for the fourth the start of the year: 115
stores were reopened in Q1 2016, bringing to
consecutive year. The evolution of petrol prices had an unfavourable 267 the number of stores converted to Carrefour banners since the
impact of 1.9% this quarter.
start of the program.
Like-for-like sales at
hypermarkets
were down 0.6% on a strong
comparable base of +2.1%. Like-for-like sales at
supermarkets
were up
by +0.7%, with an equally strong comparable base of +2.5%, marking
the sixth consecutive quarterly growth in sales.
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