Solid sales growth in 2008 to EUR97.6 bn
2008 sales incl. VAT: +6.3% at constant exchange rates
Q4 2008 sales: +1.9% at constant exchange rates
- Full-year 2008 sales: growth in sales across all geographical
regions
- Good resilience in France (+1%)
- Sustained growth in Spain (+5.5%)
- Excellent performance in growth markets* (+19.7% at constant
exchange rates)
- Organic growth of 4.5%, in line with the 4.7% recorded in 2007
- Q4 2008 sales: slowing sales in a tougher environment
- Good performance by supermarkets and convenience stores
in France
- Slowing sales in Europe (+0.5% at constant exchange rates)
- Sustained increase in sales in growth markets* (+11.8% at
constant exchange rates): continued strong trends in Latin
America, slowdown in Asia
A volatile and contrasted year in 2008, notably marked by:
- A sharp slowdown in food price inflation and a
negative impact from petrol on sales in the Fourth Quarter
- Sustained promotional efforts to be on the side of our
customers
- Strong growth in sales of our branded products
- Downturn in non-food spending, especially towards the end of
the year
Confirmation of revised 2008 objectives:
- Generation of operating free cash flow of EUR1.5 billion
- Activity Contribution expected to record slight growth compared
to 2007
Lars Olofsson, who took over as Carrefour's Chief Executive Officer on
1 January 2009, declared:"In 2008, despite a very tough environment that
weighed on Activity Contribution, Carrefour posted a solid increase in its
sales, especially in its growth markets. Carrefour can and
should further improve its performance. I am fully confident that our
resources and financial strength will allow us to rise to the
challenges ahead. Our geographical footprint, our multiple store
formats, the richness and strength of the Carrefour brand and the
commitment of our teams represent key assets that we will reinforce for
the benefit of all our customers. Anticipation, speed and excellence in
the execution of our strategic choices will be crucial
in enhancing Carrefour's performance."
*Growth markets: excluding France, Spain, Italy and Belgium
To view the full announcement please copy and paste the following link into
your web browser:
www.carrefour.com/english/homepage/index.jsp
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