Carrefour: confirms all 2024 targets

(CercleFinance.com) - Group Q3 sales (incl.
VAT) rose by +8.8% on a comparable basis (LFL) to E23,983m pre-IAS 29, i.e. +12.9% at constant exchange rates.

In France, sales were down 3% LFL due to ongoing price investments. Market share is up strongly, notably driven by the integration of Cora/Match, with market share stabilizing in volume terms on a LFL basis, management says.

In Europe, sales were down 1.5% LFL. During the quarter, the group further stepped up its price investments in the region, leading to a marked improvement in business since the beginning of September, particularly in Spain, it says. In Brazil, Carrefour posted LF§L growth of +5.8%.

Management confirms all the group's financial targets for 2024: growth in EBITDA and Recurring Operating Income, Net Free Cash Flow in line with the trajectory of the Carrefour 2026 plan.


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