direct/Carrefour: Interim Results

1st Half Results 2005

Pro forma earnings per share stable
Customer focus in France has begun to deliver market share gains
Strong profit growth outside France

Sales ex. VAT
EURO 35 440 m

+2.6%
on current exchange rates

+4.7%
Pro forma taking into account the deconsolidation of Mexico, Japan, and Food Service France on 1/1/05

EBITDA
EURO 2008m

-0.9%

Activity Contribution
EURO 1262m

-3.1%

Net income
Group share
EURO 687m
-6.9%

Net income from recurring operations
EURO 688 m +0.1%

We have begun to deliver on the goals we set for 2005

We are attracting more customers to our French hypermarkets

The number of customer transactions in our French hypermarkets is steadily increasing. Transactions increased by 0.3% in Q1 and by 1.4% in Q2 versus a decline of over 2% in 2004. An increase in customer transactions is evidence that our offer is increasingly attractive to consumers.

We are winning market share in France

As customer transactions have improved in hypermarkets, so we have gained food market share, up 0.2% in the First Half. All Group formats gained food market share (+0.7%) in France in the period, the first increase of share in France by the group as a whole since 2000.

We have improved further profitability outside of France

Activity Contribution outside France grew 24%, an increase in margin of just under 40 basis points, to 2.6%. In addition, we have made progress upgrading the quality of our asset portfolio having divested Japan, Mexico and our French food service business and made tactical acquisitions in France, Italy, Cyprus, Turkey and Brazil.

To view the full text of this press release, paste the following link into your web browser:

www.carrefour.com/english/homepage/index.jsp


The announcement distributed by directnews. The issuer is solely responsible for the content of this announcement.

This release was published on openPR.