Carrefour: Accelerating sales growth in 2013; Continued solid momentum in the fourth quarter

Regulatory News:

Carrefour (Paris:CA):

Full-year 2013 sales inc. VAT²

For the full-year 2013, total sales under banners stood at €100.2bn, up 1.5% at constant exchange rates.

Fourth quarter 2013 sales inc. VAT²

In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.

Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.

FRANCE

Fourth quarter 2014 sales inc. VAT

Organic³ sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.

Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic³ sales were up 1.3%. Food sales grew, confirming their improvement.

Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic³ sales were up 2.1%.

Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).

INTERNATIONAL

Fourth quarter 2013 sales inc. VAT⁴

The Group’s international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic⁵ sales were up 4.2%.

Other European countries

Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.

Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic⁵ sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.

Latin America

Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.

In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.

Asia

Organic sales in Asia were up 1.3%.

In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.

FULL-YEAR 2013 SALES INC. VAT⁶

EXPANSION UNDER BANNERS – Q4 2013

In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.

STORE NETWORK UNDER BANNERS – Q4 2013

In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).

DEFINITIONS

LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.

Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.

Sales under banners: Total sales under banners including sales by franchisees and international partnerships.

¹ Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.

² Figures are proforma, excluding discontinued activities.

³ Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.

⁴ Figures are proforma, excluding discontinued activities.

⁵ Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.

⁶ Figures are proforma, excluding discontinued activities.

⁷ The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.

⁸ Maghreb, Middle East and Dominican Republic.