Carrefour 2023 Results: Thanks Rami!

Carrefour presented its 2023 results this evening, marked by overall growth in turnover including tax of 10.4% on a comparable basis to 94.1 billion euros. In a country breakdown (see infographic), France weighs in at just under half with €42.5 billion (the ongoing acquisition of Cora and Match will shift the center of gravity to France for the current financial year), up 4.7% on a comparable basis. , surprisingly helped by inflation. By format, the general hierarchy is always respected: first proximity, then supermarkets, finally hypermarkets. However, in the 4th quarter the warning on hypermarkets barely exceeded the waterline (+ 0.3%). This indicates a significant reduction in non-food and stress on food intake.

In terms of current operating income (ROC), Carrefour is more or less on target with €2.23 billion (-4.7%) but close to improvement. Last year, around this time, I announced Brazil’s troubles. Difficulties confirmed. The operating profit of the South America region declined throughout the year. But, for once, France saved the results of the group with about one billion ROCs, an unofficial objective that has been repeated at Comex France since the spring of 2023. Unofficial, because Carrefour never officially confirms for fear of disappointment. However, the goal is almost complete! and allowing Carrefour to continue with appearances. Even if he does leave after the summer, former France boss Rami Baitih had to be upset when he read the results…

Details of the Carrefour exhibition are available for free download here >>

Or in a summary version here >>