COMMUNIQUÉ RÉGLEMENTÉ

par CARREFOUR (EPA:CA)

Carrefour Q3 2023 Sales Press Release

image

 Con nued solid commercial momentum

 LFL sales up +9.0% in Q3

 Full-year 2023 targets confirmed

●    Good commercial momentum in Q3, in a context of slowing infla on  o          Like-for-like (LFL) sales growth of +9.0%

 o              Sharp increase in sales of private labels, exceeding 35% of food sales (+3pts vs Q3 2022)  o  Accelera on in e-commerce GMV, up +31% in Q3, including +16% in France

●    In  France,  LFL  sales  increased  +4.3% ,  with  good  performance  in  all  formats,  notably  in  hypermarkets  (+4.2%  LFL),  driven  by  food sales

●    In Europe, Carrefour posted +4.1% LFL growth      , driven  by Spain (+5.0% LFL) and Belgium (+7.5% LFL)

●    In  Brazil,  LFL  sales  decreased  -3.7% ,  reflec ng  the  country’s  turn  to  food  defla on  during  the  quarter,  amid  pressure  on  consump on

●    Integra on of Grupo BIG : Rapid ramp-up of stores  converted to Atacadão. R$2bn synergy target by 2025 confirmed

●    Cost  savings  ini a ves  progressing  well ,  including  headquarters  op miza on  within  the  framework  of  the  European  mutualisa on. €1bn cost savings target in 2023 confirmed

●    The Group confirms all its financial targets for 2023            :   Growth in EBITDA, Recurring Opera ng Income and Net Free Cash Flow

●    Carrefour’s €800m share buyback for 2023 con nues, with €664m achieved as of October 20

 Alexandre  Bompard,  Chairman  and  Chief  Execu ve  Officer,  declared:  “In  a  context  of  con nued  pressure  on  the  purchasing  power  of  our  customers,  our  Group  confirmed  the  solidity  of  its  commercial  momentum  and  the  a rac veness  of  its  model,  thanks  to  the  reless  commitment  of  its  teams.  In  the  third  quarter,  we  con nued  the  implementa on  of  the  Carrefour  2026  plan,  in  par cular  through  the  deployment  of  the  Maxi  method  in  our  European  stores,  the  full  opera onaliza on  of  ‘Eureca,’  our  European  purchasing  pla orm,  and  the  con nua on  of  our  digital  transforma on,  with  robust  e-commerce  growth  and  increasing  use  of  tech  &  data  solu ons.  In  this  context,  Carrefour  enters  the  end  of  the  year  with confidence and confirms its full-year 2023 objec ves.”

 THIRD-QUARTER 2023 KEY FIGURES

Third-quarter 2023 

 Total varia on

 6,541

 +4.1%

 +2.6%

 +2.2%

 6,319

 +20.2%

 -4.0%

 +19.1%

 23,629

 +9.0%

 +0.5%

 +6.9%

 16

 Group  (pre-IAS 29)

image La n America  (pre-IAS 29)

 IAS 29  2

image                       Group  (post-IAS 29)                                23,645

 Notes: (1) Excluding petrol and calendar effects and at constant exchange rates; (2) Hyperinfla on and foreign exchange in Argen na

 CONTINUED  SOLID  COMMERCIAL  MOMENTUM  IN  Q3  AMID  UNCHANGED  FUNDAMENTALS

 Carrefour  posted  solid  growth  in  sales  in  France  (+4.3%  LFL)  and  in  Europe  (+4.1%  LFL)  in  Q3,  while  ac vity  in  Brazil  remained  under  pressure  (-3.7%  LFL).  The  quarter  was  marked  by  a  con nua on  of  the  trends  observed  over the past few months, with ac vity and customer behavior in line with those of the previous quarter.

 In  France  and  Europe,  the  sales  evolu on  in  Q3  (c.+4%  LFL)  compared  to  Q2  (c.+7%  LFL)  reflected  the  general  slowdown  in  food  infla on  of  around  three  points,  cycling  on  strong  accelera on  of  infla on  last  year.  Consumer  prices  have  been  globally  stable  month  over  month  since  the  start  of  summer  in  Europe.  Against  a  backdrop  of  con nued  pressure  on  purchasing  power  (cumula ve  infla on  over  2  years  of  around  +20%  in  Western  Europe  and  +30%  in  Eastern  Europe),  consumer  behavior  remained  unchanged,  with  con nued  trading  down  and  food  and  non-food  volumes  s ll  contrac ng  in  Q3,  at  a  pace  close  to  that  of  the  previous  quarter.

 In  this  context,  Carrefour  maintained  solid  commercial  momentum,  relying  on  the  strength  of  its  commercial  model,  the  focus  of  its  teams  on  customer  sa sfac on,  and  the  a rac veness  of  its  offering.  Carrefour  has  stepped  up  ini a ves  to  support  its  customers’  purchasing  power,  notably  with  the  “Frozen  Prices”  campaigns  and  several  waves  of  targeted  price  reduc ons.  Carrefour-branded  products  con nue  to  a ract  an  ever-increasing  customer  base;  they  represent  more  than  35%  of  food  sales  over  the  quarter,  up  +3 points  year-on-year.  This  rapid  increase  supports  the  Group’s  ambi on  of  reaching  40%  of  food  sales  from  private  labels by 2026.

 The  environment  was  more  difficult  in  Brazil,  which  has  seen  year-on-year  food  defla on  since  August,  with  a  slowdown  of  more  than  4  points  compared  to  the  previous  quarter,  while  volumes  were  s ll  down.  In  this  context,  Atacadão  is  holding  up  well  thanks  to  its  a rac ve  price  posi oning  and  rapid  ramp-up  of  stores  converted from Grupo BIG. The Group reiterates its synergy target of at least R$2.0bn by 2025.

 In this environment, the Group con nues to execute its strategic plan at good pace:

-          The  rollout  of  the  Maxi  method  con nues  in  European  hypermarkets  and  supermarkets,  with  encouraging  preliminary results

-          European mutualiza on of central func ons is progressing swi ly:

-          In  the  procurement  area,  with  the Madrid-based           Eureca  pla orm:  the  four  suppliers announced                   for

                                2023  are fully opera onal; a new wave of about fi een addi onal suppliers is underway for 2024

-          In headquarters, with the op miza on of support func ons, notably in France

-          In  digital,  Carrefour  made good  progress  over  the   quarter,  in  par cular for  Unlimitail   (Retail  Media  JV  with  Publicis),  which is   comple ng  the implementa on  of  its  organiza on   and has   ini ated  encouraging discussions with several non-food retailers in Europe 

-          Carrefour  con nued  to  implement its  CSR  commitments,  par cularly  on   disability,  a  major  cause  of  the  Carrefour 2026 strategic plan

-          The  Group  maintains  its  strong  cost  discipline, with  further   ini a ves  in  Q3,  and  confirms  its  objec ve of   €1bn savings in 2023

-          The  acquisi on  of  Cora's  ac vi es  in  Romania  received  the  approval  of  the  an trust  authority,  without  remedy. The takeover will be effec ve in the coming weeks

-          Carrefour  recently  announced  the  con nua on  of  the transforma on  of  its        store network   in  France,  with

 16 hypermarkets and 21 supermarkets to be transferred to lease management in 2024

 Based  on  this  good  opera onal  performance,  the  Group  enters  the  end  of  the  year  with  confidence,  an cipa ng  a  con nua on  of  current  trends,  and  confirms  its  full-year 2023   financial  objec ves :   growth  in  EBITDA, Recurring Opera ng Income and Net Free Cash Flow.

 THIRD-QUARTER 2023 SALES INC. VAT

 Third-quarter  sales  inc.  VAT  increased  by  +9.0%  on  a  like-for-like  basis  (LFL).  They  reached  €23,629m  pre-IAS 29,  an  increase  of  +6.9%  at  constant  exchange  rates.  This  increase  includes  a  nega ve  petrol  effect  of  -1.5%.  A er  taking  into  account  a  nega ve  exchange  rate  effect  of  -6.4%,  mainly  linked  to  the  deprecia on  of  the  Argen nian  Peso,  total  sales  growth  at  current  exchange  rates  amounted  to  +0.5%.  The  impact  of  the  applica on of IAS 29 was +€16m.

                                                 LFL                                                            Q2 2023            Q3 2023

             +7.3 %

+4.3   %

             +7.4 %

+4.1   %

           +17.3 %

+20.2             %

           +10.3 %

+9.0   %

 Group

image France  Europe  La n America

 In  France ,  Q3  LFL  sales  were  up  +4.3%.  This  good  performance  was  driven  by  food  sales  (+5.7%  LFL),  while  non-food  sales  remained  down  in  the  quarter  (-6.8%  LFL).  The  hypermarket  format  was  par cularly  dynamic  with  +4.2%  LFL  growth,  including  +5.7%  LFL  in  food.  E-commerce  GMV  remained  dynamic  with  +16%  growth  in  the  quarter,  a er  +14%  in  H1.  As  recently  announced,  the  Group  plans  to  transfer  37  new  stores (16  hypermarkets and 21 supermarkets) to lease-management in 2024.

 Q2 2023

 Q3 2023

             +6.6 %

+4.2      %

             +7.6 %

+3.8      %

 +8.2%

 +5.3%

 +8.8%

 +5.7%

 +7.3%

 +4.3%

 France

image LFL

 Hypermarkets  Supermarkets  Convenience/other formats  incl. Convenience

 In  Europe ,  sales  increased  by  +4.1%  LFL  in  the  quarter.  The  slowdown  of  around  3  points  vs  Q2  (+7.4%  LFL)  reflects  that  of  food  infla on  in  all  countries.  Volumes  remained  globally  nega ve,  with  the  excep on  of  Belgium, which benefited from a sharp business recovery.

●     In  Spain  (+5.0%  LFL),  Carrefour  maintained  solid  growth  momentum  in  all  formats,  notably  in  hypermarkets,  despite  high  exposure  to  non-food  which  remained  under  pressure.  Carrefour  announced  during  the  quarter  the  acquisi on  of  47  supermarkets  and  convenience  stores  under  the  SuperCor banner, with closing expected in the first half 2024

●     In  Italy  (+1.7%  LFL),  Carrefour  con nued  its  posi ve  trajectory  with  strengthened  price  compe    veness and con nued improvement in customer sa sfac on

●     In  Belgium  (+7.5% LFL),   the  Group  confirmed  its  recovery  with  excellent  commercial  momentum,  transla ng  into  marked  outperformance in  sales   and  volumes  vs  the  market.  This  good  performance  notably reflects the success of the commercial ini a ves implemented over the last 12 months

●     In                 Poland  (-3.9% LFL),       sales       decrease  was  directly  linked  to  the  very  high  comparable  base  (+18.5%  LFL in Q3 2022 in the context of the war in Ukraine) 

●     In                 Romania  (+4.5% LFL), Carrefour posted solid momentum,  with growth in store traffic

                                                    LFL                                                          Q2 2023             Q3 2023 

 +7.7%

 +5.0%

 +4.7%

 +1.7%

 +12.5%

 +7.5%

 +0.4%

 -3.9%

 +7.5%

 +4.5%

 +7.4%

 +4.1%

 Europe (excl. France)

image Spain  Italy  Belgium  Poland  Romania

 In  La n America , LFL  sales were up +20.2%.

●     In  Brazil ,  LFL  sales  were  down  -3.7%,  globally  in-line  with  Q2  performance  (-3.2%  LFL)  despite  a  slowdown  of  more  than  4  points  in  food  infla on,  which  was  nega ve  in  August  and  September.  Total  sales were down -3.9% at constant exchange rates. The foreign exchange effect was a nega ve -0.5%.

o   Sales  at  Atacadão  were  down  -2.7%  LFL,  improving  sequen ally  versus  Q2  2023  (-4.3%  LFL).  The  legacy  scope  posted  a  sales  decrease  in  line  with  Q2  despite  the  slowdown  in  food  infla on,  thanks  to  be er  volume  momentum.  Sales  at  former  Grupo  BIG  stores  converted  to

 Atacadão ramped up fast, with strong +22.2% LFL growth in Q3  o  Carrefour  Retail  sales  were  more  impacted  by  the  economic  environment  and  high  comparable  base (+15.0% LFL in Q3 2022). LFL sales were down -7.7% in Q3

o   Sam’s  Club  sales  were  up  +9.3%  with  +2.0%  LFL  sales  growth  and  the  addi on  of  5  stores  over  the  past  12  months.  The  number  of  ac ve  members  increased  +10.2%  vs.  Q3  2022,  thanks  to  the recruitment of new customers through digital tools

o   E-commerce  GMV  was  up  +50%,  including  +67%  in  food  e-commerce,  thanks  to  the  ramp-up  of Atacadão's online business and the integra on of Grupo BIG

o   Financial  services  con nued  to  grow,  with  a  +26%  increase  in  credit  por olio  and  billings  up

                                             +13 % in Q3, notably benefi   ng from the addi on of former Grupo BIG customers

●     In  Argen na  (+141.2%  LFL),  Carrefour  once  again  demonstrated  the  strength  of  its  model  in  a  country  experiencing  very  high  infla on.  Sales  growth  reflected  further  market  share  gains,  driven  by  the  addi on of new customers

                                                 LFL                                                         Q2 2023                Q3 2023

           -3.2 %

-3.7   %

 -4.3%

 -2.7%

 +0.3%

 -7.7%

 n.a.

 +2.0%

 +127.0%

 +141.2%

 +17.3%

 +20.2%

 La n America

image Brazil

 Atacadão

 Carrefour Retail

 Sam’s Club

 Argen na

 FURTHER IMPLEMENTATION OF THE €800M SHARE BUYBACK

 As  part  of  its  €800m  share  buyback  program  for  2023,  Carrefour  has  repurchased  38,195,704  shares  between  February 27 and October 20, 2023, at an average price of 17.40 euros, for a total amount of €664m.

 On  25  October  2023,  Carrefour's  Board  of  Directors  approved  the  cancella on  of  11,193,018  shares.  Following  these  cancella ons,  the  total  number  of  shares  making  up  the  share  capital  will  be  708,790,816,  including  9,607,385 treasury shares and  the number of shares  in issue will therefore be 699,183,431.

 CARREFOUR, A COMMITTED COMPANY

 In Q3 2023, the Group con nued to implement the major CSR pillars of the Carrefour 2026 strategic plan.

●     On  climate ,  Carrefour  launched  in  September  2023  an  interna onal  coali on  that  aims  to  accelerate  sales  of  plant-based  alterna ves  with  seven  industrial  partners  (Danone,  Unilever,  Bel,  Andros,  Bonduelle,  Nutri on  &  Santé,  Savencia).  This  coali on  will  accelerate  and  unite  around  the  objec ve  of  €500m  in  sales  of  plant-based  protein  products  in  Europe  by  2026  at  Carrefour,  with  an  overall  objec ve of €3bn for the eight partners

●     On disability           , which is the main cause of the Carrefour 2026  strategic plan:

o   Carrefour  organized  a  major  innova on compe on  with Vivatech  ,  in  order  to  select  3 startups  whose  handi-accessible solu ons   are  currently being   tested  in  a  laboratory  hypermarket to promote more inclusion, in Villeneuve-La-Garenne

o   The  Group  also  announced, during   Paralympic  Week  in  October  2023,  its  support,  through  the  Carrefour  Founda on,  of  the French   Paralympic  and  Sports  Commi ee  in  order  to  develop  the prac ce of sport for people with disabili es throughout France

o   Finally,  Carrefour  announced  the  launch  in  October  2023  of  “ Cafés  Joyeux ”  products  in more   than  800  stores  in  France,  in  order  to  support  and  develop  the  employment  of  people  with  cogni ve or mental disabili es

●     On  solidarity ,  Carrefour  responded  immediately  to  an  appeal  by  Restos  du  Cœur  with an   excep onal  dona on of products

 Carrefour’s  ac ons  contributed  to  further  strengthening  its  extra-financial  ra ngs:  Moody's  ra ng  rose  from  73  to  76  out  of  100.  Carrefour  maintained  its  AA  ra ng  by  MSCI  and  Prime  C+  by  Oekom  ISS.  The  Group  obtained  the maximum score of 5/5 on its diversity audit conducted by the GEEIS.

 AGENDA

●     Q4 sales and FY 2023 results: February 20, 2024

 CONTACTS

 Investor Rela ons

 Sébas en Valen n, Anthony Guglielmo

 Tel : +33 (0)1 64 50 82 57

 Shareholder Rela ons  

 Tel : 0 805 902 902 (toll-free in France)

 Group Communica on

 Tel : +33 (0)1 58 47 88 80

 APPENDIX

 Third-quarter 2023 sales inc. VAT

 Varia on ex petrol ex

 Total varia on inc. petrol

                                                                                      Sales                            calendar

( €m)

 LFL

 Organic

 France

 10,769

        +4.3 %

+3.4 %

 Hypermarkets  Supermarkets

,151

        +4.2 %

+2.9 %

,594

        +3.8 %

+3.2 %

 Convenience /other formats

,024

        +5.3 %

+4.9 %

 Other European countries

 6,541

        +4.1 %

+3.6 %

 Spain

 Italy

,075

        +5.0 %

+5.1 %

,083

        +1.7 %

+0.1 %

 Belgium

,113

        +7.5 %

+5.7 %

 Poland

       563  

        -3.9 %

-4.2 %

 Romania

       706  

        +4.5 %

+5.8 %

 La n America  (pre-IAS 29)

 6,319

      +20.2 %

+19.6    %

 Brazil

,311

        -3.7 %

-3.9 %

     +2.1 %

+2.1 %

     +0.7 %

+0.7   %

     +2.6 %

+2.2 %

     +2.2 %

+2.2   %

-4.0    %

+19.1   %

    -4.3 %

-3.9 %

                                                                                   inc. VAT                                                                 image

                                                                                                                                                                         at current     at constant

 exchange               exchange  rate  rates

+3.6       %            +3.6       % +3.1   %            +3.1       %

-0.3        %            -0.3        % +5.7   %            +5.7       % +1.4   %            -3.8        % +5.2   %            +6.0                %

 Argen na  (pre-IAS 29)

 1,008

 +141.2%

 +142.7%

 -2.3%

 +142.9%

 Group total  (pre-IAS 29)

 23,629

 +9.0%

 +8.4%

 +0.5%

 +6.9%

 IAS 29  (1)

 16

               Group total  (post-IAS 29)                  23,645

image

 Note: (1) hyperinfla on and foreign exchange

 Technical effects – Third-quarter 2023

 Calendar

 Petrol

 Foreign  exchange

 France

        +0.2 %

-1.5      %

 Hypermarkets  Supermarkets

        +0.3 %

-2.4      %

        +0.5 %

-0.1      %

 Convenience /other formats

        -0.4 %

-1.4      %

 Other European countries

        -0.1 %

-1.3      %

        +0.4     %

 Spain

 Italy

        -0.2 %

-2.7      %

        +0.0 %

-0.4      %

 Belgium

        -0.0 %

 Poland

        +0.4 %

0.0 %

        +5.2     %

 Romania

        +0.1 %

0.0 %

        -0.8      %

 La n America

        -0.2 %

-0.3      %

       -23.1    %

 Brazil

 Argen na

        -0.2 %

+0.2     %

        -0.5      %

-145.2         %

        +0.2 %

 Group total

        +0.0 %

-1.5      %

        -6.4     %


 Nine-month 2023 sales inc. VAT

 Varia on ex petrol ex

 Total varia on inc. petrol

                                                                                      Sales                            calendar

( €m)

 LFL

 Organic

 France

 31,544

        +6.2 %

+5.3 %

 Hypermarkets  Supermarkets

,173

        +5.6 %

+4.1 %

,558

        +6.2 %

+5.5 %

 Convenience / Other formats

,814

        +7.6 %

+7.9 %

 Other European countries

 18,965

        +6.7 %

+6.2 %

 Spain

 Italy

 8,654

 +7.2%

 +7.4%

 3,249

 +3.9%

 +1.6%

 Belgium

 3,369

 +10.0%

 +8.4%

 Poland

 1,661

 +0.7%

 +0.9%

 Romania

 2,032

 +7.9%

 +9.3%

 La n America  (pre-IAS 29)

 18,567

      +20.7 %

+22.9    %

 Brazil

,560

        -0.9 %

+2.0 %

     +3.4 %

+3.4   %

     +1.7 %

+1.7   %

     +4.6 %

+4.4   %

 +4.2%

 +4.2%

+10.1 %

+29.1   %

+9.9   %

+10.2   %

                                                                                   inc. VAT                                                                 image

 At current              At constant  exchange  exchange  rates                 rates

+4.2       %            +4.2       % +6.4   %            +6.4       %

 +0.8%  +0.8%  +8.5%    +8.5       %  +1.6%               -0.4%  +9.2%      +9.3%

 Argen na  (pre-IAS 29)

3 ,007

     +130.0 %

+131.2 %

      +11.2 %

+131.6 %

 Group total  (pre-IAS 29)

 69,077

 +10.4%

 +10.5%

 +5.5%

 +10.3%

 IAS 29 (1)                      

 (34)

               Group total  (post-IAS 29)                  69,042

image

 Note : (1) hyperinfla on and foreign exchange

 Technical effects – Nine months 2023

 Calendar

 Petrol

 Foreign  exchange

 France

        +0.2 %

-2.1      %

 Hypermarkets  Supermarkets

        +0.2 %

-2.6      %

        +0.3 %

-1.6      %

 Convenience / Other formats

        +0.1 %

-1.6      %

 Other Europeans countries

        +0.0 %

-1.7      %

        +0.2     %

 Spain

 Italy

        -0.1 %

-3.1      %

 -

 +0.2%

 -0.9%

 Belgium

 +0.0%

 -

 -

 Poland

 +0.0%

 -1.3%

 +2.0%

 Romania

 +0.1%

 -0.0%

 -0.1%

 La n America

 +0.0%

 -1.0%

 -19.0%

 Brazil

 Argen na

        +0.0 %

-0.6      %

        -0.3      %

-120.4         %

        +0.4 %

 Group total

 +0.1%

 -2.3%

 -4.9%


 Expansion under banners – Q3 2023

 Closures/  Openings/

                                        Dec. 31                 June 30                                                                            Store                 Q3 2023

                                                                                                    Store               Acquisi ons                                                                    Sept. 30 2023

 Thousands of sq.              2022                           2023                                                                                                 reduc ons/          change

 enlargements

               m                                                                                                                                        Disposals

 France

5 ,629

5 ,633

-6 

5 ,636

 Europe (ex Fr)

5 ,965

5 ,810

45  

-42           

5 ,813

 La n America (1)  

4 ,010

3 ,917

22  

-4 

16  

3 ,933

 Others (2)                        

1 ,638

1 ,561

583          

-17           

566          

2 ,127

 Group (1)                         

17 ,241

16 ,921

656          

-69           

587          

17 ,508

 Notes: (1) Asia, Africa, Middle East and Dominican Republic

 Store network under banners – Q3 2023

 N° of stores

 Dec. 31  2022

 June 30  2023

 Openings

 Acquisi ons

 Closures/

 Disposals

 Transfers

 Total Q3  2023 change

 Sept. 30  2023

 Hypermarkets

1 ,128

1 ,104

     72        

-7 

       65      

1 ,169

 France

253    

253    

253    

 Europe (ex France)

455    

454    

-2 

455    

 La n America

 252

 223

 -

 -

 -

 -

 -

 223

 Others  (1)

168    

174    

     69        

-5 

       64      

238    

 Supermarkets

3 ,842

3 ,794

343     

    -36       

-1 

      306    

4 ,100

 France

1 ,039

1 ,037

1 ,037

 Europe (ex France)

 2,088

 2,044

 53

 -

 -29

 0

 24

 2,068

 La n America

246    

233    

-1 

-1 

232    

 Others  (1)

469    

480    

290     

-7 

      283    

763    

 Convenience stores

 8,573

 8,557

 123

 10

 -82

 0

 51

 8,608

 France

4 ,472

4 ,493

     42        

       10      

    -21       

       31      

4 ,524

 Europe (ex France)

3 ,471

3 ,381

     59        

    -58       

3 ,382

 La n America

 581

 594

 12

 -

 -2

 -

 10

 604

 Others  (1)

    49         

    89         

     10        

-1 

    98        

 Cash & carry

541    

567    

574    

 France

 148

 150

 -

 -

 -

 -

 -

 150

 Europe (ex France)

    12         

    12         

    12        

 La n America

 356

 374

 5

 -

 -

 1

 6

 380

 Others  (1)

    25         

    31         

    32        

 So discount (Supeco)

221    

220    

221    

 France

 33

 33

 -

 -

 -

 -

 -

 33

 Europe (ex France)

 91

 93

 1

 -

 -

 -

 1

 94

 La n America

 97

 94

 -

 -

 -

 -

 -

 94

 Others  (1)

 -

 -

 -

 -

 -

 -

 -

 -

 Sam’s Club

 43

 47

 -

 -

 -

 -

 -

 47

 France

 -

 -

 -

 -

 -

 -

 -

 -

 Europe (ex France)

 -

 -

 -

 -

 -

 -

 -

 -

 La n America

 43

 47

 -

 -

 -

 -

 -

 47

 Others  (1)

 -

 -

 -

 -

 -

 -

 -

 -

 Group

 14,348

 14,289

 545

 10

 -125

 0

 430

 14,719

 France

 5,945

 5,966

 42

 10

 -21

 -

 31

 5,997

 Europe (ex France)

 6,117

 5,984

 116

 -

 -89

 0

 27

 6,011

 La n America

 1,575

 1,565

 17

 -

 -2

 0

 15

 1,580

 Others  (1)

 711

 774

 370

 -

 -13

 -

 357

 1,131

 Note: (1) Asia, Africa, Middle East and Dominican Republic

 DEFINITIONS

 Free cash flow

 Free  cash  flow  corresponds  to  cash  flow  from  opera ng  ac vi es  before  net  finance  costs  and  net  interests  related  to  lease commitment, a er the change in working capital, less net cash from/(used in) inves ng ac vi es.

 Net Free Cash Flow

 Net Free Cash Flow corresponds to free cash flow a er net finance costs and net lease payments.

 Like for like sales growth (LFL)

 Sales  generated  by  stores  opened  for  at  least  twelve  months,  excluding  temporary  store  closures,  at  constant  exchange rates, excluding petrol and calendar effects and excluding IAS 29 impact.

 Organic sales growth

 Like  for  like  sales  growth  plus  net  openings  over  the  past  twelve  months,  including  temporary  store  closures,  at  constant exchange rates.

 ®  Net  Promoter,  Net  Promoter  System,  Net  Promoter  Score,  NPS  and  the  NPS-related  emo cons  are  registered  trademarks  of  Bain  &  Company,  Inc.,  Fred  Reichheld  and Satmetrix Systems, Inc

 DISCLAIMER

 This  press  release  contains  both  historical  and  forward-looking  statements.  These  forward-looking  statements  are  based  on  Carrefour  management's  current  views  and  assump ons.  Such  statements  are  not  guarantees  of  future  performance  of  the  Group.  Actual  results  or  performances  may  differ  materially  from  those  in  such  forward  looking  statements  as  a  result  of  a  number  of  risks  and  uncertain es,  including  but  not  limited  to  the  risks  described  in  the  documents  filed  with  the  Autorité  des  Marchés  Financiers  as  part  of  the  regulated  informa on  disclosure  requirements  and  available  on  Carrefour's  website  (www.carrefour.com),  and  in  par cular  the  Universal  Registra on  Document.  These  documents  are  also  available  in  English  on  the  company's  website.  Investors  may  obtain  a  copy  of  these  documents  from  Carrefour  free  of  charge.  Carrefour  does  not  assume  any  obliga on  to  update  or  revise  any  of  these forward-looking statements in the future.

Voir toutes les actualités de CARREFOUR