Carrefour - 2017 Registration Document

The Carrefour group is a global food retailer and an extraordinarily powerful company, with an unparalleled asset portfolio, nearly 380,000 employees with outstanding expertise in more than 300 professions, global leadership in food and a universally recognised brand. Every year, 105 million customer households visit our banners and four billion transactions are recorded in France and abroad, in more than 12,300 stores and websites. Overall, 2017 was a challenging year for Carrefour, with a slowdown in consolidated like for-like sales growth to 1.6%, for a total of €78,897 million excluding VAT, a 14.7% decline in recurring operating income at current exchange rates, to €2 billion, and an attributable net loss of €531 million, primarily due to non-recurring expenses. 2017 was also a year of transition in our corporate governance. The new management team introduced in early 2018 “Carrefour 2022”, an ambitious transformation plan now rolled out in all of the Group’s geographies. Alexandre Bompard Chairman and Chief Executive Officer The plan will begin delivering its benefits, in particular through the deployment of a simplified, more open organisation and via an initial wave of cost savings and investments to increase productivity and competitiveness. As a key to driving our future success, we will create a leading omni-channel universe for our customers by investing in growth formats and digital capabilities to become the leader in food e-commerce and in the Carrefour brand. Lastly, the Group is going to revamp its offering to enhance food quality, so as to provide everyone – every day and everywhere – with quality, healthy food at a reasonable price. Carrefour spearheaded one of the main battles of the 20 th century: consumption democratisation. It now needs to be at the forefront of one of the major challenges of the 21 st century, at the crossroads of economic, social, health and environmental issues. The Group has set a strong, universal ambition: to enable customers to consume better, by becoming the world leader in the food transition for all. This ambition embodies the Group’s commitment to serving consumers – an ambition that will enable Carrefour to create value over the long term and attract new customers, while also sustainably consolidating its positions. “Carrefour has set a strong, universal ambition: to become the world leader in the food transition for all.” CARREFOUR | 2017 REGISTRATION DOCUMENT 3