Carrefour: Solid Organic Sales Growth:

Regulatory News:

Carrefour (Paris:CA):

• Q3 2014 sales: €21.1bn, up +2.8%
  • France : Further sales growth
  • International : Strong organic growth of +5.0%, excellent performance in Brazil and Argentina
• Nine-month 2014 sales: €61.4bn, a strong +3.8% increase
  • France : Sales up +1.3%, growth in all formats
  • International : Strong organic growth of +5.7%

Third quarter 2014 consolidated sales inc. VAT

The Group’s organic growth reached +2.8%. Carrefour’s sales stood at €21,077m. The currency effect was -1.9% and the impact of petrol prices was -1.0%. The calendar effect is neutral this quarter (-0.1%).

Total sales under banners including petrol in Q3 2014 stood at €25.4bn, up +2.1% at constant exchange rates.

Nine-month 2014 consolidated sales inc. VAT

Total sales under banners including petrol for the first nine months of 2014 stood at €73.6bn, up +2.9% at constant exchange rates.

FRANCE

Third quarter 2014 sales inc. VAT

France

France recorded further organic sales growth this quarter on the back of strong comparables (+2.0%) in spite of unusually heavy rainfall in July and August and a significant cyclical decrease in fruit and vegetable prices.

The drop in petrol prices at the pump had an impact of -1.5%.

Sales at hypermarkets were down -0.2% on an organic basis and down -0.7% LFL. Dry grocery products posted further growth. Non-food sales were resilient.

Sales at supermarkets were down -1.1% on an organic basis (-1.2% LFL).

Organic sales in convenience and other formats confirmed their momentum with growth of +5.1%.

INTERNATIONAL

Third quarter 2014 sales inc. VAT

Organic sales in International markets grew by +5.0% (+2.9% LFL). The calendar effect is neutral this quarter and currencies had an impact of -3.6%.

Other European countries

In other European countries, organic sales were down -1.6% in the quarter amid unfavourable weather conditions and a significant cyclical decrease in fruit and vegetable prices. On a like-for-like basis, sales were down -1.2% in Spain, down -4.8% in Italy and up +1.3% in Belgium. They were stable in Poland and up in Romania.

Latin America

Organic sales in Latin America were up +18.5%. Currencies had an impact of -10.6% as a result of the depreciation of the Argentine peso.

In Brazil, organic sales were up +12.8% (+7.7% LFL) on the back of strong comparables of +8.2%. All formats recorded solid performance. Argentina’s organic sales were up +34.6%, of which +30.5% LFL.

Asia

Expansion in Asia continued and contributed +3.4% to sales evolution. In total, organic sales were down by 3.3% on a challenging comparable base. Currencies had an impact of -0.5% in the quarter.

In China, expansion generated growth of +4.5% and organic sales fell by -3.7% in a persistently frugal consumption environment. In Taiwan, organic sales were down -2.2% (-1.6% LFL).

APPENDIX

LFL Sales in Q3 and nine-months 2014

EXPANSION UNDER BANNERS – Q3 2014

In Q3 2014, Carrefour opened or acquired 123,000 gross sq. m. Net of disposals and closures, the network added 51,000 sq. m. in the quarter. Since the beginning of the year, the network has added 394,000 gross sq. m. (226,000 net sq. m.).

STORE NETWORK UNDER BANNERS – Q3 2014

In Q3 2014, Carrefour opened or acquired 280 stores, mainly convenience stores (191). Net of disposals or closures, the network added 196 stores in Q3 2014, bringing the total network to 10,608 stores at the end of September.

¹ Maghreb, Middle East and Dominican Republic.

DEFINITIONS

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

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

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

Note: LFL and organic growth numbers are presented ex calendar and ex petrol.