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Presentation of the Carrefour group
Carrefour in 2015
Recurring operating income, which totalled €1.19
billion, fell by 6.4%,
The renovation of shopping centres and stores is ongoing, with the aim
a drop of 30 basis points in operating margin, to 3.3% of sales. On a of offering customers a new shopping experience with new concepts
pro forma*
basis, the operating margin increased by 10 basis points.
and new services: new electronic product sales areas, new fragrance
Over three years in France, recurring operating income increased by
departments, the development of such shopping collection solutions
close to 29%, equivalent to growth of 110 basis points as a percentage as
drive
and
click & collect
, and a new mobile app.
of sales in comparison to 2012 (pro forma). This increase was due to:
Carrefour has had a presence in
Italy
since 1993. Carrefour ranks in
an improved gross margin as a result of an improved balance
●
sixth position in a fragmented grocery market and holds strong
between everyday low prices, promotion, loyalty programmes, and regional positions, such as those in Val d’Aosta, Piedmont, Lazio and
logistics savings;
Lombardy. The Group manages 59
hypermarkets, 441 supermarkets,
583 convenience stores and 18
cash & carry stores in the country. Net
good control of operating costs.
●
sales totalled €4.9 billion – a 5.4% increase.
In France, operational investments totalled €1.08
billion, an increase
As in a number of countries, Carrefour teams have strengthened the
of 3.8% versus 2014. These investments represented 3.0% of sales,
multi-format nature of the Group in the country, such as through the
unchanged compared with 2014.
transformation of Billa and Il Centro convenience stores, acquired in
Carrefour in other European countries
2014, and the renovation of Market supermarkets and some shopping
centres.
In Europe (excluding France), Carrefour was operating 5,067 stores
In
Belgium
, Carrefour ranks among the country’s top three retailers
under Group banners as of the end of 2015. These included 489 and is the most multi-format group: 45 hypermarkets, 441
hypermarkets, 2,096 supermarkets, 2,464 convenience stores and 18 supermarkets and 267 convenience stores. Net sales stood at
cash & carry stores. Carrefour operates in five consolidated countries:
€4.0 billion – stable compared to 2014.
Belgium, Spain, Italy, Poland and Romania. The consolidated store In 2015, the asset-modernisation and customer-experience
network includes a total of 1,285 stores (381 hypermarkets, 648 improvement programme continued with the roll-out of new formats
supermarkets, 238 convenience stores and 18 cash & carry stores).
in Market supermarkets and Express convenience stores, and a new
Over the year, Carrefour opened or acquired 1,027 stores under Group generation of hypermarket. Several initiatives also boosted the
banners in Europe – an additional 435,000 sq.m. of gross sales area,
development of food e-commerce solutions, such as the opening of
including 18
hypermarkets, 342 supermarkets, and 667 convenience the first private
drive,
in the car park of the head office of the television
stores.
network RTBF/VRT, and the establishment of a “summer
drive”
in the
beach resort of Knokke.
Net sales in Europe totalled €19.7
billion in 2015, an increase of 2.8%
at current exchange rates. For the first time in a number of years, all
Carrefour directly operates in two other countries, Poland and
European countries where the Group operates experienced like-for-like Romania, with combined net sales of €2.9 billion, up 5.3%.
growth in 2015.
Carrefour has been operating in
Poland
since 1997, with a network of
Over the year, the gross margin ratio improved with constant attention stores under Group banners, which includes 84 hypermarkets, 153
to price positioning. Operating costs were stable. Recurring operating supermarkets and 576
convenience stores. In 2015, Carrefour’s
income totalled €567
million, an increase of 33.4% at current
multi-format model was strengthened through the acquisition of 36
exchange rates.
convenience stores and the development of the Express banner as a
franchise business.
Profitability improved during the second half of the year, with the
operating margin up by 40 basis points to 4.3% of sales,
In
Romania
, where Carrefour has been operating since 2001, the
demonstrating the effectiveness of the operating model.
Group manages 29 hypermarkets, 110 supermarkets and 53
convenience stores. The project to acquire the Billa supermarket
Carrefour has had a presence in
Spain
since 1973 and is the country’s
network announced in December
2015 will give Carrefour an
second-largest grocery retailer and the leading hypermarket operator.
opportunity to consolidate its market share in the country and boost its
As of the end of 2015, its multi-format stores under banners included
national coverage.
173 hypermarkets, 126 supermarkets and 419 convenience stores.
Net sales totalled €7.9 billion.
The Group is also present in other European countries through various
partnerships, including Greece, Cyprus, the Balkans and Turkey. In
Carrefour’s business in the country is solid and based on a
these countries, the Group has 99 hypermarkets, 825 supermarkets
multi-format strategy complemented by a multi-channel digital
and 566
convenience stores under Group banners.
strategy. The expansion of convenience stores has been based
primarily on the development of the Express banner in partnership Operational investments in Europe totalled €579
million in 2015,
with Cepsa petrol stations.
representing 2.9% of sales versus 2.8% in 2014.
* At constant exchange rates and excluding the integration of Dia, the increase of the Tascom tax on selling space and the transfer to Carmila of rental income
from shopping malls.
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2015 REGISTRATION DOCUMENT