Press release
direct/ Carrefour SA: Interim Results
First Half Results 2006Our model for profitable growth is delivering results
The First Half 2006 represents a new step towards the execution of our strategy.
- Our sales are growing again with an increase on constant exchange rates of 7.5%. Sales in France grew 6.2%. This trend has enabled us to consistently win food market share in France (up 0.7% in the first Half, according to TNS Secodip).
- We have continued to strengthen our asset portfolio through tactical acquisitions in Italy and Spain, the integration of Hyparlo and of the Penny Market stores in France, as well as the divestment of our activities in Korea.
- We are growing faster and in a more targeted way with 584,000 new m² opened in H1. The number of new organic m² has increased 24% compared to H1 2005.
- Our price competitiveness remains non-negotiable as much in France as internationally. Evidence for this can be seen in initiatives such as the Price Alert, launched in our French hypermarkets in April 2006.
H1 2006 results are in line with our expectations
Sales ex-VAT increased 8.8%.
The commercial margin of the Group remained stable both in France and internationally and we managed our operating costs well.
Thus, Activity Contribution before depreciation and amortisation increased 7.5%.
Activity Contribution increased by 4.7% (EUR1,355m) even though our growth strategy has meant an increase in asset costs (rents and depreciation).
All regions contributed to growth in Activity Contribution.
To view the full text of this press release, paste the following link into your web browser:
www.carrefour.com/english/homepage/index.jsp
END
Investor relations: David Shriver, Alessandra Girolami, Etienne Humbert
Tel : (33) 01 55 63 39 00
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