Carrefour reports 3.3 percent rise in revenues

Carrefour reported increase in net sales of excluding petrol of 70,204million euros (74,373 million dollars), up 3.3 percent at constant exchange rates and 3 percent on an organic basis. The company saw good performance in food in all countries; buoyant sales growth in Brazil and positive momentum in Europe.

Georges Plassat, Chairman and Chief Executive Officer of Carrefour, said in a statement, “Carrefour emerges from 2016 a stronger company. The increase in sales, for the fifth consecutive year, attests to the relevance of our multi-format and omni-channel model, which is now a reality in all our countries. In 2017, Carrefour will continue to expand in all its formats, stores and digital, to enhance its proximity to its clients.”

Carrefour continues retail expansin

The company said, EBITDA of 3,886 million euros (4,117 million dollars), ROI of 2,351 million euros (2,490 million dollars) was in line with expectations; with operating margin at 3.1 percent. In 2016, non-recurring income was an expense of 372 million euros (394 million dollars), which includes reorganization costs in various countries, as well as a loss of 106 million euros (112 million dollars).

Net income from continuing operations, Group share, was 786 million euros (832 million dollars). Net income, Group share, stood at 746 million euros (790 million dollars) and adjusted net income, Group share, restated for exceptional items was 1,031million euros (1,092 million dollars) in 2016.

The company opened 871 stores under its banners in 2016; and launched new e-commerce websites and apps for food or non-food in all countries. Stores were opened in Brazil, Spain, Poland and China. The group also continued its strategy of tactical acquisitions, in Romania with Billa stores and in Spain with selected Eroski stores.

In France, the transformation of the stores acquired from Dia was virtually completed, with a total of 622 stores converted to date to Carrefour banners. In addition, Carmila, of which Carrefour is the largest shareholder, continues to enhance the commercial sites adjacent to the Group's stores in France, Spain and Italy.

Targets to grow sales by 3 to 5 percent in 2017

For fiscal 2017, the company expects to grow sales by 3 percent to 5 percent at constant exchange rates. It also plans listing of Carrefour’s activities in Brazil and of Carmila.

Carrefour has proposed dividend of 0.70 euro (0.74 dollar), in cash or shares.

Picture:Facebook/Carrefour