Carrefour FY21 Profit Rises

(RTTNews) - Carrefour (CRERF.PK, CRRFY.PK, 0NPH.L) Wednesday reported fiscal 2021 net income of €1.07 billion compared to €641 million last year.

Adjusted net income rose to €1.16 billion or €1.47 per share from €1.01 billion or €1.26 per share in the previous year.

Sales including VAT was €81.25 billion compared to €78.61 billion last year.

Commenting on the results, CEO Alexandre Bompard said, "Carrefour posted a very strong performance in 2021, confirming the sound execution of its strategic plan. Our omnichannel model continues to expand and attract customers: our digital initiatives place us in a leading position in new markets, our store network is growing at a fast pace - allowing us to achieve our target for openings in growth formats a year ahead of schedule - and we are recording market share gains in our key countries. This commercial momentum is reflected in an equally solid financial performance, with sales growth despite a high comparable base, a marked improvement in our operating profit, particularly in France, and a record level of net free cash flow generation. The Group's financial position enables to announce a new share buyback. Our Group also stepped up its action in favor of the food transition for all in 2021, in particular regarding inclusion and the fight against climate change, and again exceeded its targets."