Carrefour - 2017 Registration Document

MANAGEMENT’S DISCUSSION AND ANALYSIS AS OF DECEMBER 31, 2017 First-quarter 2018 sales 2017 REGISTRATION DOCUMENT | CARREFOUR 4. 186 Variation of first-quarter 2018 sales inc. VAT Sales inc. VAT (in millions of euros) Variation ex petrol ex calendar Total variation inc. petrol LFL Organic at constant exchange rates at current exchange rates FRANCE 9,489 (0.1)% (1.2)% +0.9% +0.9% Hypermarkets 4,823 (2.3)% (2.9)% (0.5)% (0.5)% Supermarkets 3,098 +1.6% (0.4)% +1.5% +1.5% Proximity/other formats 1,568 +3.0% +2.6% +4.2% +4.2% OTHER COUNTRIES 11,287 +0.7% +2.1% +4.0% (5.1)% Other European countries 5,538 (0.8)% +0.1% +2.8% +2.9% Spain 2,204 (0.6)% +0.4% +4.4% +4.4% Italy 1,316 (3.2)% (3.2)% (0.9)% (0.9)% Belgium 1,022 (1.6)% (1.2)% (0.4)% (0.4)% Poland 511 (0.8)% +1.2% +5.7% +9.2% Romania 486 +7.7% +10.3% +10.6% +7.4% Latin America 3,978 +4.5% +7.4% +9.1% (11.9)% Brazil 3,261 +0.4% +4.0% +6.0% (11.0)% Argentina 717 +21.2% +21.2% +22.2% (15.8)% Asia 1,771 (3.9)% (4.3)% (4.5)% (10.9)% China 1,248 (6.6)% (7.7)% (8.0)% (13.7)% Taiwan 523 +3.3% +4.6% +4.6% (3.4)% GROUP TOTAL 20,776 +0.4% +0.8% +2.6% (2.4)% Expansion under banners - First-quarter 2018 (in thousands of sq. m) Dec. 31, 2017 Openings/Store enlargements Acquisitions Closures/Store reductions Total Q1 2018 change March 31, 2018 France 5,764 16 2 (20) (2) 5,762 Europe (ex France) 5,599 24 - (46) (22) 5,577 Latin America 2,408 24 - (1) 23 2,432 Asia 2,736 17 - (69) (53) 2,684 Others* 1,111 7 - (13) (7) 1,104 GROUP 17,618 87 2 (150) (60) 17,558 Africa, Middle East and Dominican Republic. *