2019 Full-Year results presentation

The 2019 Annual Results presentation took place on Thursday, February 27th, 2020 at 10.30 am (Paris time).

> Access to the replay 


• Clear improvement in 2019 results, notably driven by France and Latin America:

- Acceleration in sales growth to +3.1% on a Like-for-Like (LFL) basis (vs +1.8% in 2018)

- Recurring operating income (ROI) of €2,088m, an increase of €145m (+7.4%) at constant exchange rates and comparable accounting standards vs 2018

- ROI in France up by +15.6%1

- Net income, Group share, up significantly to €1,314m vs €(582)m in 20181

- Increase in net income, Group share, adjusted for exceptional items to €905m, up +€101m (+13%) vs 20181

- Improvement of 17% in free cash-flow excluding exceptional items to €1,301m vs €1,115 M€ in 20181

- Net financial debt reduced by c. €1bn at constant exchange rates, to €2.6bn at end-December 2019

• Building on the first successes of its transformation plan, Carrefour is completing and revising upwards its targets: 

- Improvement in the Group’s Net Promoter Score® (NPS®) of +15 points over the 2020-2022 period, or +23 points since the launch of the plan, reflecting Carrefour’s priority on customer satisfaction

- Three-year cost savings plan raised to €2.8bn (vs €2.6bn) on an annual basis by end-2020. €2.0bn achieved to date (€1,030m in 2019). Cost-saving dynamic will continue beyond 2020

- New target of €300m in additional disposals of non-strategic real estate assets by 2022

- All other targets confirmed 

Alexandre Bompard, Chairman and Chief Executive Officer, declared: “The Carrefour 2022 plan is generating solid results and sets the Group on a profitable growth trajectory. These results are visible in our financial performance and in all our strategic priorities: the pace of expansion of our growth formats is accelerating, organic and Carrefour-branded products are gaining ground, we are outperforming the market in food e-commerce and our price competitiveness is improving. This momentum is reflected in improving customer satisfaction, which is more than ever at the heart of our priorities. We assert our leadership in the food transition for all, and raise or confirm all the Carrefour 2022 targets.”

You can download the country videos broadcast during the 2019 annual results presentation by clicking here

Download the press release (pdf 1.22 MB) Download the presentation (pdf 2.79 MB) Download the consolidated Financial Statements as of december 31, 2019 (pdf 1.5 MB)

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