The Casino group releases its 2012 consolidated financial statements. They are available on the Group’s website :

http://old.groupecasino.axome.cc/IMG/pdf/Etats_financiers_consolides_2012.pdf (PDF, french, 2,67 Mo)

The English version of these consolidated financial statements will be available next week. This release does not constitute an Annual Financial Report. The Casino, Guichard-Perrachon 2012 Registration Document will be released to the AMF at the end of March.

• Very strong Group sales growth, + 22.1%
• Continued sustained organic growth internationally, + 8.5%
• Sales almost stable in France, – 0.8%
• Trading Profit + 29.3%
• Net profit from continuing operations, Group share, up +84.4% at €1,065m
• Net underlying profit, Group share, at €564m
• Net debt/EBITDA ratio fell to 1.91x
• Recommended dividend of €3

Jean-Charles Naouri, Chairman and Chief Executive Officer of Casino Group, stated:
“The Group underwent some major transformations in 2012, notably with the control of GPA in Brazil and the agreement with Galeries Lafayette on the acquisition of 50% of Monoprix, hence strengthening its profile on international businesses and buoyant formats. For the first time, it has generated operating income in excess of €2 billion. In 2013, confident in the growth of its activity and results, Casino will pursue its strategy of back-to-basics in France and organic growth internationally, while working to maintain its financial structure.”
The 2012 consolidated financial statements were approved by the Board of Directors on 20 February 2013. The Statutory Auditors have completed their audit and are in the process of issuing their report.

KEY FIGURES

* Organic growth excluding petrol and calendar effect

The Group recorded sound organic growth in 2012, up 4% excluding petrol and calendar effect, driven by a continuously buoyant environment abroad and in a backdrop of soft consumption in France.
Trading profit grew by 29.3%, driven by the GPA control and organic growth internationally.
Thanks to the full consolidation of GPA starting in H2, international operations increased their contribution to Group’s sales and trading profit to 56% and 66% respectively (versus 45% and 52% in 2011).

IN FRANCE, RESILIENCE OF ORGANIC SALES AND OF MARGIN

In France, sales were resilient in a context of soft consumption. Buoyant convenience and discount formats performance, which represent 64% of Group sales in France (excluding petrol effect), was satisfactory, while Géant’s sales were impacted by reductions in non-food retail space and price cuts initiated at the end of Q3. Cdiscount had another year of very robust growth, up 16.3%. Full-year organic growth, excluding petrol and calendar effect, declined by 0.8%.
Trading profit declined by 8.6%, with the trading margin remaining resilient thanks to the format mix, coming out to 3.7%, a 28bp drop.
In 2012, Géant Casino’s sales fell by 7.7% on an organic basis, excluding petrol and calendar effect. In food, Géant realigned its price indices for entry-price and private-label products at the end of Q3. Non-food business was down due to the sharp reduction in non-food shelf displays in 2012. The multi-channel approach was rolled out to stores. Total same-store non-food sales (Géant + Cdiscount) slightly increased over the year to €2.3bn (up 0.6%).
Casino Supermarchés’ sales growth (up 1.8% on an organic basis excluding petrol and calendar effect) was satisfactory. Price indices were repositioned in entry-price and private-label products. Roll-out of “Le Meilleur d’ici” (local products) continued.

Superettes’ sales were almost stable vs. 2011 (down 0.6% on an organic basis excluding petrol and calendar effect). A common assortment around Casino private-label products was implemented. The number of Cdiscount pick-up points increased sharply over the year. Expansion continued with the opening of 422 stores, including 144 “Coop d’Alsace” stores that joined the network.

Other businesses (Cdiscount, Mercialys and Casino Restauration) maintained buoyant sales growth (up 10.6% on an organic basis), driven by Cdiscount’s very strong momentum (up 16.3%). Cdiscount’s total business volume increased by 22% over the year, including the marketplace (10% of the site’s business volume at the end of December). The multi-channel strategy continued to be rolled out, with 3,000 physical pick-up points deployed. Finally, sales through mobile apps accounted for 8% of sales at the end of the year.

Casino France’s operating margin was 3.3%, down 41bp.

Leader Price’s sales declined by 0.8% on an organic basis (excluding calendar effect). The banner confirmed its turnaround in 2012 with repositioned price indices. The new Leader Price products, with which Jean-Pierre Coffe (famous French gourmet icon) was heavily involved, were a success. Finally, store renovations continued. 18 stores were opened in 2012. Thanks to stores network optimisation and costs reduction, the banner’s profitability increased over 2012.
Franprix’s performance stabilised in 2012 (sales fell by 1% on an organic basis, excluding calendar effect). Private-label products were relaunched in stores, with more Leader Price products under €1. Targeted price cuts also contributed to the banner’s solid performance. The stores network continued to be upgraded and 39 stores opened in 2012.
Franprix-Leader Price’s operating margin was 3.8%, up 8bp compared to 2011.

Monoprix’s sales were well oriented, growing by 1.7% on an organic basis excluding petrol and calendar effect, thanks to strong performance by food sales, growth in textile that was superior to the market over the full year, and continuing expansion on all formats.
Monoprix’s operating margin was still high at 6.1% thanks to the quality of mix (food, perfume, textile, home equipment).

STRONG INTERNATIONAL ORGANIC GROWTH

International businesses experienced very strong growth (50.7%) this year, driven by the full consolidation of GPA starting in H2, as well as by highly satisfactory organic growth of 8.5%. Trading profit increased by 64.9%

• Latin American sales rose by 8.8% on an organic basis.
  • In Brazil, GPA maintained its excellent performance in 2012, with high organic growth in food sales, driven by the performance of Assaí and the new Minimercado convenience concept, whose expansion continued at a sustained pace. In non-food, Viavarejo’s same-store sales growth was sustained (7.5%*) and its operating margin improved. GPA’s EBITDA stood at 7.2%.
  • In Colombia and in Uruguay, Exito Group had an excellent 2012 year, with sales up sharply by 18.3%, with a marked strengthening of Exito’s market share in Colombia. Rapid expansion was focused on discount and convenience formats. The EBITDA margin rose by 8.4%*, sustained by reduced operating costs. Finally, Exito’s best practices were gradually rolled out to Uruguay, whose performance was excellent in 2012.

* Based on reported company data

• Asia posted strong growth (+10.8%) in sales on an organic basis, thanks to excellent performance in both Thailand and Vietnam, where Big C continues to establish a leading position. The operating margin, still very high, stood at 7.1%.
  • In Thailand, Big C’s sales climbed by 16.1%, demonstrating excellent performance. Sales growth on an organic basis rose sharply (9.3%*) despite the aftermath of the floods, driven notably by the success of innovative sales initiatives and the development of the loyalty card, as well as by sustained expansion, particularly in small formats and shopping centres. The EBITDA margin was very high at 11.1%*. Finally, the financial structure was strengthened by debt refinancing and the success of private placement.
  • In Vietnam, organic growth was very high, despite the backdrop of economic slowdown. The dual expansion model was maintained in 2012, with three hypermarkets and three adjacent shopping malls opened.

SOLID FINANCIAL STRUCTURE

In 2012, Casino engaged on a €1.5bn asset disposal and capital increase plan, of which €1.45bn was achieved in 2012:

• Mercialys operation: exceptional distribution and TRS settlement: €0.7bn
• Successful payment of dividends in shares: €0.1bn
• Capital increase and shares disposal: €0.4bn
• Disposal of financial and real-estate assets: €0.2bn

A second exceptional interim dividend is planned by Mercialys in H1 2013.
These disposals do not include the €0.5bn Mercialys assets disposals or assets under firm offer.

Net financial debt totalled €5.451 billion. The Net Financial Debt/EBITDA ratio therefore stood at 1.91x at the end of 2012, in accordance with our target of less than 2.2x. The Casino Group is rated BBB- Outlook Stable by S&P and Fitch Ratings.
At the Annual General Meeting on 22 April 2013, Casino will recommend a dividend of €3 per share. The dividend will be paid on 29 April 2013, with an ex-dividend date on 24 April 2013.

* Based on reported company data

CASINO IS CONFIDENT IN ITS ABILITY TO INCREASE ITS ACTIVITY AND RESULTS IN 2013

• Internationally: growth
  • Growth should continue in 2013, sustained by the emergence of numerous middle classes whose purchasing power is growing
  • The Group banners, which benefit from a very good price image and are very active in their expansion policy on buoyant formats and commercial real estate, should then see a continued increase in activity and results
• France: stabilising or reviving retail
  • Price cuts, notably in hypermarkets
  • Costs reduction
  • Expansion in key formats
• For 2013 therefore, the Group is targeting:
  • Strong growth in reported sales
  • Organic sales and trading profit growth
  • Solid financial structure with a Net Financial Debt / EBITDA below 2x.

ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – Tel:+33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or
+33 (0)1 53 65 64 18
IR_Casino@groupe-casino.fr

GROUP EXTERNAL COMMUNICATION DEPARTMENT
PRESS CONTACTS
Aziza BOUSTER
Tel: +33 (0)1 53 65 24 78
Mob: +33 (0)6 08 54 28 75
abouster@groupe-casino.fr

IMAGE 7
Grégoire LUCAS
Tel: +33 (0)6 71 60 02 02
glucas@image7.fr

2012 RESULTS

⁽¹⁾ Based on a comparable scope of consolidation and constant exchange rates, excluding the impact of asset disposals

⁽²⁾ EBITDA: Earnings before interest, taxes, depreciation and amortisation

⁽³⁾ See details in appendix

Financial calendar

Thursday, 18 April 2013 (after the close of trading): 2013 first quarter sales
Monday, 22 April 2013 Annual General Meeting

Disclaimer
This press release was prepared solely for informational purposes and should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Similarly, it does not and should not be treated as giving investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this document. It should not be regarded by recipients as a substitute for the exercise of their own judgement. Any opinions expressed herein are subject to change without notice.

APPENDICES

NET UNDERLYING PROFIT

Net underlying profit corresponds to net profit from continuing operations adjusted for the impact of other operating income and expense (as defined in the “Significant Accounting Policies” section of the notes to the annual consolidated financial statements), non-recurring financial items and non-recurring income tax expense/benefits.
Non-recurring financial items include fair value adjustments to certain financial instruments at fair value whose market value may be highly volatile. For example, fair value adjustments to financial instruments that do not qualify for hedge accounting and embedded derivatives indexed to the Casino share price are excluded from net underlying profit.
Non-recurring income tax expense/benefits correspond to tax effects related directly to the above adjustments and to direct non-recurring tax effects. In other words, the tax on underlying profit before tax is calculated at the standard average tax rate paid by the Group
Underlying profit is a measure of the Group’s recurring profitability.

⁽¹⁾ Other financial income and expense is stated before discounting deferred tax liabilities in Brazil (-€22m in 2011 and -€22m in 2012), exchange losses on receivables on the state of Venezuela in USD (-€25m in 2011 and -€2m in 2012), fair value adjustments from financial instruments that do not qualify for hedge accounting (+€87m in 2011 and n/a in 2012), and fair value adjustments from Total Return Swaps related to shares in Exito, GPA, Big C and Mercialys (+€17m in 2011 for Exito alone and +€48m in 2012)

⁽²⁾ Income tax expense is stated before the tax effect of the above adjustments and non-recurring income tax expense/benefits

⁽³⁾ Minority interests are stated before the above adjustments

Gonzalo Restrepo Lopez (62), Chief Executive Officer of Grupo Exito for 22 years, announced today at Exito’s Board of Directors meeting, his decision to step down from his position in order to dedicate himself to his family, personal projects and to the economic and social development of Colombia.

In accordance to the transition process planned and organised in close coordination with Gonzalo Restrepo, the Board of Directors promoted Carlos Mario Giraldo Moreno, currently Chief Operating Officer of Exito, to the position of Chief Executive Officer.

Gonzalo Restrepo will continue to provide his talent and expertise to Exito and to Group Casino as an advisor. He will also be appointed President to the Casino Foundation, while remaining President of the Exito foundation.

Casino Group would like to express to Mr. Restrepo its very sincere gratefulness for his outstanding contribution to the development of Exito which, under his leadership, has become the leader in the food retail industry in Colombia and one of the most dynamic companies in the region.

The appointment of Carlos Mario Giraldo Moreno will become effective after Exito’s Shareholders Meeting to be held on March 19th.

Since he joined Exito in 2008 and through a close collaboration with Gonzalo Restrepo, Carlos Mario Giraldo played a central role in the development of the Group. He acquired an experience of more than 18 years in the consumer and retail industry.

Prior to joining Exito as Chief Operating Officer in 2008, Carlos Mario Giraldo acquired more than 18 years’ experience in the consumer and retail industry. He was Chief Executive Officer of Noel Food Industries and then Chief Executive Officer of Noel Biscuit Company for 10 years. He was also chairman of the board for the National Business Association of Colombia (ANDI) between 2003 and 2004. Currently he is the chairman of the board for the Coca Cola retail council for Latin America. Carlos Mario Giraldo has a law degree from Universidad Pontificia Bolivariana and a master in law from Tulane University. He also studied strategic planning management in retailing at Babson College as well as management and marketing at Kellogg and Stanford. Carlos Mario Giraldo is a Colombian national.

ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – Tel:+33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or
+33 (0)1 53 65 64 18
IR_Casino@groupe-casino.fr

GROUP EXTERNAL COMMUNICATION DEPARTMENT
PRESS CONTACT
Aziza BOUSTER
Tel: +33 (0)1 53 65 24 78
Mob: +33 (0)6 08 54 28 75
abouster@groupe-casino.fr

Casino successfully issued a new 10-year bond of €750 million.

This operation, which strengthens the Group’s liquidity, is intended to refinance the next debt repayments of the Group. It extends the average maturity of Casino’s bond debt to 5.1 years today (vs. 4.5 years as of the end of December 2012).

This new bond, which will pay a coupon of 3.311%, has been significantly oversubscribed by a diversified investor base.

Casino is rated BBB- stable by Standard & Poor’s and Fitch Ratings.

Bank of America Merrill Lynch, Crédit Agricole Corporate and Investment Bank, Credit Suisse, Mitsubishi UFJ Securities International, RBS and Société Générale acted as joint bookrunners.

ANALYST AND INVESTOR CONTACTS

Régine GAGGIOLI – Tel: +33 (0)1 53 65 64 17

rgaggioli@groupe-casino.fr

or

+33 (0)1 53 65 64 18

IR_Casino@groupe-casino.fr

• Casino 2012 Sales: €42 billion, up +22.1 %, and +4 % in organic* terms

• Q4 2012 sales: €13 billion, UP +35.2 %

• 2012 was a year of strong growth for the group, primarily abroad. international activities accounted for 63 % of group sales in Q4

In the fourth quarter, strong growth in sales at €12.9 billion (+35.2 %), driven by International subsidiaries and by sustained organic growth* at 3.2 %

• Internationally, very good performance (+8.5 %), in line with previous quarters
• In France (-2.2 %), the quarter was marked by a proactive policy of price reductions and the ongoing decline in hypermarkets’ multimedia sales, offset by Cdiscount’s excellent performance (+16.1 %), and Leader Price and Monoprix’s solid results.

In the fourth quarter of 2012, the Group’s consolidated sales were up +35.2 %. Organic growth* was steady at +3.2 % (+2.2 % including petrol and calendar effect).The effect of changes in scope was +36.3 %, primarily due to the full consolidation of GPA as of 2 July 2012. Foreign-exchange rates had an impact of -3.3 %. The petrol effect was -0.3 % for the quarter. Average calendar effect was -0.6 % in France and -0.7 % internationally.

Consolidated net sales2011 2012Change 2012/2011 in €m in €mTotal
growthOrganic growth*Total continuing
 operations34,36141,971+22.1%+4%France18,74818,447-1.6%-0.8%International15,61323,524+50.7%+9%

* Excluding petrol and calendar effect; organic growth is growth at constant scope of consolidation and exchange rates

Q4 2012 sales

In France, trading was marked by price drops,
Cdiscount’s excellent performance (+16.1 %)
and robustness of convenience formats

In France, total household consumption was soft in the fourth quarter of 2012, except for online sales of non-food products.
In order to better meet client expectations, several Group banners (Casino hypermarkets and supermarkets and Franprix) dropped prices significantly for private label and entry price products, which account for more than 40 % of sales volume. This proactive policy, funded by lower promotional activity, had a negative impact on same-store sales in the year’s final quarter.
During the fourth quarter, organic growth in France totalled -2.2 % excluding petrol and calendar effect. Overall growth was -3.1 % at €4,757 million.

• Convenience formats posted generally satisfactory growth in sales on an organic basis (excluding petrol and calendar effect): +1 % for Monoprix, +0.3 % for Franprix – Leader Price, due to a more efficient management of the store network that led to the closure of unprofitable stores; superettes (-0.5 %) and Casino supermarkets (-1.2 %) declined slightly.
• Géant’s same-store sales fell by -9.9 % excluding calendar effect due to the combined impact of price drops, lower promotional activity and reductions to retail space.
• In contrast, Cdiscount’s growth was particularly steady (+16.1 %), benefiting from its leading position in online sales of technical products and the rapid development of its marketplace. This performance enables to post a slight progression (+0.3 %) in the annual cumulative non-food sales of Géant and Cdiscount.

International: continued strong organic growth: +8.5 % excluding petrol and calendar effect

In keeping with previous quarters, international subsidiaries posted another quarter of strong organic growth at +8.5 % excluding petrol and calendar effect. Total sales for International subsidiaries, which rose +75.9 % to €8,098 million, also benefited from the full consolidation of GPA as of 2 July 2012. The foreign-exchange effect had a negative impact of -6.8 % on international sales in the fourth quarter 2012.

• Latin America posted strong organic growth of +7.8 % excluding petrol and calendar effect, driven by high same-store growth in Brazil and dynamic expansion in Brazil and Colombia.
• Organic growth excluding petrol and calendar effect for Asia was still very significant at +15.9 %, up from the third quarter, due to the sustained pace of expansion and same-store growth that improved markedly compared to the third quarter.

Total International sales accounted for 63 % of Group sales over the period, compared with 48 % in the fourth quarter 2011.

France: Sales Analysis – Q4 2012

Sales in France came to €4,757 million in the fourth quarter of 2012, a decline of -2.2 % in organic growth, excluding petrol and calendar effect.

In €mTotal growthOrganic
growth* Q4 2011Q4 2012 Q4 2012 Q4 2012 Q3 2012Net sales before tax – France 4,908.6 4,757.4-3.1%-2.2%+0.2%Casino France 3,261.1 3,095.2-5.1%-3.8%+0.1%Géant Casino hypermarkets1,522.31,340.1-12%-11.7%-7%Casino supermarkets905.3885.8-2.2%-1.2%+3.5%Superettes343.1339.2-1.1%-0.5%+0.6%Cdiscount & Other businesses490.4530.1+8.1%+10.8%+14.2%Franprix – Leader Price 1,106.7 1,117.4+1%+0.3%+0%Monoprix 540.7 544.7 +0.7%+1%+1.4%

* Excluding petrol and calendar effect.

• Casino France

Géant Casino’s same-store sales fell by -9.9 %* excluding petrol.

In a context of soft consumption for Q4 2012, same-store food sales were down -7.6 %*. This change was due primarily to a proactive policy of prices’ reductions initiated by the banner on its private-label and entry- price products. Price cuts were funded by reducing promotional activities.

According to the latest price data collected by consumer panels, Géant Casino has become the least expensive food banner in France for the private-label and entry-price products for convenience goods, fresh products and industrial products (“PGCFI”). Géant Casino is thus positioning itself below all French hypermarkets and supermarkets competitors.

¹ Panel methodology: convenience goods, fresh products and industrial products, unweighted indices including promotions, using checkout data from 5,830 stores.

The banner has been continuing this price-cutting initiative for the national brands since the end of the fourth quarter.

Same-store non-food sales declined in a backdrop of a firm reduction of multimedia categories: surfaces, as well as assortment, number of references and promotions were significantly reduced in 2012.

In 2013, Géant will continue to refocus on the most buoyant categories (luggage, household linen, DIY, etc.), and to roll out Cdiscount pick-up points in drive-through. The banner will adapt its surfaces to the evolution of its assortment.

Excluding petrol and calendar effect, Casino Supermarket organic sales declined -1.2 % vs. Q4 2011. Like Géant, the banner readjusted the prices of its private-label and entry-price products – funded by a sustained reduction in promotional activities – with a negative impact on same-store sales in Q4. The banner has kept up its strategy of excellence in fresh goods and rollout of local products. Expansion was robust, with 3 openings during the fourth quarter, bringing the number of stores opened in 2012 to 7.

Sales in superettes posted a -0.5 % decline (excluding calendar effect). The banner completed reworking its assortment, with emphasis on its private label. 181 stores joined the network over the quarter, bringing their total number to 422 for the year. The stores under the new Casino Shop and Shopping concepts (11 Casino Shopping and 77 Casino Shop stores open at the end of 2012) posted good results.

*Excluding calendar (-0.6 % over Q4) and restated for the transfer of 4 hypermarkets to Casino Supermarkets.

Cdiscount sales rose +16.1 % because of an excellent December in which Toys and High-Tech products performed well.
Business volume rose by 22.9 % in the fourth quarter, thanks notably to the strong growth of the marketplace, which accounted for nearly 10 % of the site’s business volume at the end of December. The total number of offers posted by the site surpassed 1 million references.
Finally, c. 10 % of the site’s sales are now made via smartphones and tablets.

Cdiscount remains a key tool in the Group’s multi-channel strategy, which continued to roll out physical pick-up points within stores. At the end of 2012, there were nearly 3,000 pick-up points.

• Franprix – Leader Price

Total Franprix-Leader Price sales were up +1 % despite the impact of reorganising the store network, which entailed the closure of unprofitable locations.

Leader Price same-store sales excluding calendar effect declined slightly by -0.2 % with footfall improving since Q3 2012. Sales initiatives begun early in the year (assortment and pricing policy) continued to bear fruits in the fourth quarter, with a value proposition that fits the current climate of consumption. The selection of fresh products (renovated for fruits and vegetables) and year-end festive products proved very successful. Renovation of stores continued with more than half of the network switched to the new concept. In addition, six stores were opened in the fourth quarter, bringing the total number of openings over the whole year to 18.
Franprix sales declined by -2.6 % on an organic basis excluding calendar effect over the quarter, due to the impact of accelerated reorganisation of the store network. The banner continued repositioning its private label pricing and working on its assortment during the quarter. The banner opened 17 stores over the period, bringing the number of stores opened in 2012 to 39.

Negotiations are well advanced between the Group and the German group Norma, specialist in German hard discount stores, to take over 38 convenience stores with high growth potential in southeast France. This acquisition will enable Leader Price and Franprix to speed up their development in a particularly dynamic region and place the Casino Group on a stronger footing for the most buoyant formats in the strategic region around Lyon and the Mediterranean coast. It will be submitted to the French Antitrust Authority and is expected to come into force by the end of the first half of 2013.

•  Monoprix

Sales at Monoprix rose +1 % on an organic basis excluding petrol and calendar. Thanks to successful promotions and limited-edition and designer collections, apparel sales continued to outperform the market. With regard to food, fresh products posted satisfactory performance and same-store growth excluding calendar effect was -0.9 %. There was very active expansion over the fourth quarter with 16 store openings, bringing the number of openings to 36 in 2012.

International: SALES ANALYSIS – Q4 2012

Consolidated sales at International subsidiaries rose substantially by +75.9 %.
Scope effects had a positive impact of +74.8 %, related to the full consolidation of GPA.
Exchange rates had an unfavourable impact of -6.8 %, resulting primarily from the Brazilian real’s sharp depreciation against the euro.
Once again, organic growth was very high at +8.5 %*, in keeping with previous quarters, driven by solid performance in both Latin America and Asia.

In Latin America, same-store sales grew by +5.5 %, excluding petrol and calendar effect, notably reflecting GPA’s solid performance in Brazil. Organic growth was +7.8 %*, boosted by continued rapid expansion, particularly in Colombia. Total sales rose +93.1 %, primarily under the impact of the full consolidation of GPA.

• GPA in Brazil

In Brazil, GPA posted same-store sales up +6.6 % excluding petrol.
With respect to food, same-store sales for GPA Food were up +6.4 % (+5.6 %** gross same-store sales published by GPA) driven by strong promotional activities, including this year’s expansion of the Black Friday campaign to supermarkets and convenience stores. They also benefited from the excellent performance of Assaí cash & carry stores and Minimercado stores. The Minimercado banner sped up its expansion with 30 stores opening during the quarter. Five other stores were also opened: 1 hypermarket, 2 supermarkets and 2 Assaí stores, bringing the total number of GPA Food openings to 55 for 2012.

As for non-food, Viavarejo same-store sales continued to grow quickly at +6.9 % (+6 %** gross same-store sales published by GPA), driven by significant sales initiatives and the extension of tax incentives on purchases of household appliances and furnishings. They also benefited from Ponto Frio stores repositioning and improved product assortment. Expansion continued in the fourth quarter with the opening of 12 Casas Bahia and 4 Ponto Frio stores.

* Excluding petrol and calendar effect.
** Data published by GPA on 11 January 2013.

• Exito in Colombia

Total sales for Exito grew strongly in the fourth quarter, under the combined influence of positive organic growth and a favourable foreign-exchange effect. Exito benefited from the rapid expansion of its store network, the strengthening of private labels in its assortment, and continued development of activities complementary to retail (notably credit and insurance).
The expansion of Exito was focused on the development of convenience and discount stores, with 35 store openings, including 4 hypermarkets, including one with a shopping mall, as well as 2 Carulla Express, 1 Carulla Super, 3 Exito Express and 25 Surtimax.

Exito’s Q4 earnings will be released end – January 2013.

In Asia, same-store sales growth excluding calendar effect totalled +9.2 %. Organic growth in sales excluding calendar effect maintained a high level of +15.9 %. Total sales grew +21.2 %.

• Big C Thailand

Big C posted organic sales growth excluding calendar effect of +17.5 %. Big C’s same-store performance was robust at +12.4 % excluding calendar effect (with a favourable comparison basis). Significant investments in marketing and promotions were made, with a new coupon policy being rolled out and the extremely successful launch of the first Golden Week, modelled after Black Friday.
The highly dynamic expansion also contributed to organic growth, with the opening of 1 hypermarket, 1 supermarket, 36 Mini Big C and 7 Pure. 129 stores were opened in 2012.

• Big C Vietnam

Big C Vietnam continued its dynamic expansion policy, allowing the banner to post positive sales growth on an organic basis. There was active expansion with the opening of 2 hypermarkets and shopping malls and 1 C Express over the quarter.

Schedule of Financial Disclosures

ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – Tel:+33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or
+33 (0)1 53 65 64 18
IR_Casino@groupe-casino.fr

Group external communication department
press contact
Aziza BOUSTER
Tel: +33 (0)1 53 65 24 78
Mob: +33 (0)6 08 54 28 75
abouster@groupe-casino.fr

Disclaimer

This press release was prepared solely for informational purposes and should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Similarly, it does not and should not be treated as giving investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this document. It should not be regarded by recipients as a substitute for the exercise of their own judgement. Any opinions expressed herein are subject to change without notice.

APPENDICES

• Change in GPA stake, fully consolidated since 2 July 2012. GPA was consolidated at 40.1% as of 31 December 2011 
• – Full consolidation of companies owning 21 stores within the Franprix – Leader Price Group as of July 2012 
• – Full consolidation of BARAT into Franprix – Leader Price from 8 March 2012

 Fourth quarterChange12 monthsChange 2011
€m2012
€mReportedAt
constant
exchange
rates2011
€m2012
€mReportedAt
constant
exchange
ratesFRANCE4,908.64,757.4-3.1%-3.1%18,747.718,446.7-1.6%-1.6%Of which :Casino France3,261.13,095.2-5.1%-5.1%12,364.812,158.3-1.7%-1.7%Géant Casino
hypermarkets1,522.31,340.1-12%-12%5,622.85,246.4-6.7%-6.7%Casino supermarkets905.3885.8-2.2%-2.2%3,618.83,686.7+1.9%+1.9% Superettes343.1339.2-1.1%-1.1%1,485.21,479.7-0.4%-0.4%Other businesses490.4530.1+8.1%+8.1%1,6381,745.6+6.6%+6.6%Franprix – Leader Price1,106.71,117.4+1%+1%4,4104,278.6-3%-3%Monoprix540.7544.7+0.7%+0.7%1,9732,009.8+1.9%+1.9%INTERNATIONAL 4,603.68,098.3+75.9%+82.7%15,613.123,523.9+50.7%+54.2%Of which :Latin America3,596.76,944.3+93.1%+103%11,826.319,250.6+62.8%+69.1%Asia755.8916.4+21.2%+15.6%2,895.23,407.3+17.7%+10.8%Other sectors251.1237.6-5.4%-5.2%891.6866-2.9% -3%-3%NET SALES FROM CONTINUING
OPERATIONS9,512.212,855.7+35.2%+38.4%34,360.841,970.7+22.1%+23.7%

If Casino group had become sole controlling shareholder of GPA on 1 January 2012 (full consolidation at 100 % of GPA from this date), Latin American total sales under the period ended on 31 December 2012 would have been €24,994 million, bringing total Group sales to €47,712 million.

Average exchange rates9-month
20119-month
2012Change12-month
201112-month
2012ChangeArgentina (ARS / EUR)0.1740.175+0.5%0.1740.171-1.8%Uruguay (UYP / EUR)0.0370.038+2.5%0.0370.038+3.1%Thailand (THB / EUR)0.0230.025+6.6%0.0240.025+6.2%Vietnam (VND / EUR) (x1,000)0.0350.038+7.5%0.0350.037+6.5%Colombia (COP / EUR) (x1,000)0.3900.435+11.4%0.3890.433+11.1%Brazil (BRL / EUR)0.4360.407-6.6%0.4300.399-7.3%

Organic growth: the organic growth is at constant scope of consolidation and exchange rates.

FRANCE31 Dec. 201130 Sept. 201231 Dec. 2012Géant Casino hypermarkets127125125Of which French Affiliates899 International Affiliates566+ service stations1019797Casino supermarkets422439445Of which French Affiliates515558 International Franchise Affiliates323941+ service stations170172173Franprix supermarkets897894891 Of which Franchise outlets379387390Monoprix supermarkets514527542 Of which Naturalia556171 Of which Franchise outlets/Affiliates130133137Leader Price discount stores608601604 Of which Franchise outlets271238231Total supermarkets and discount stores2,4412,461 2,482 Of which Franchise outlets/Stores operated under business leases863852857Petit Casino superettes1,7581,6571,575 Of which Franchise outlets292626Casino Shopping superettes61011Casino Shop superettes162977Eco Services superettes111Coop Alsace superettes 48144 Of which Franchise outlets 48144Spar superettes956969963 Of which Franchise outlets755747739Vival superettes1,7521,6991,705 Of which Franchise outlets1,7501,6981,704Casitalia and C’Asia superettes111Other Franchise stores1,1341,1041,105 Corner, Relay, Shell, Elf, Carmag…1,1341,1041,105Wholesale activity937935935TOTAL CONVENIENCE STORES6,5616,453 6,517 Of which Franchise outlets/Stores operated under business leases/Wholesale4,6064,5594,654Other Affiliate stores262929 Of which French Affiliates181920 International Affiliates8109Other businesses295308304 Cafeterias293306302 Cdiscount222TOTAL France9,4509,376 9,457 Hypermarkets (HM)127125125 Supermarkets (SM)1,8331,8601,878 Discount (DIS)608601604 Superettes (SUP) and other stores (MAG)6,5876,4826,546 Other (DIV)295308304

The Board of Directors of Monoprix held on 30th November 2012 has appointed Jean-Charles Naouri as Chairman and Chief Executive Officer in replacement of Philippe Houzé.

As proposed by Jean-Charles Naouri, the Board of Directors confirmed Stéphane Maquaire in his position as Deputy Chief Executive Officer, thus renewing its full trust in the management of Monoprix.

The Board of Directors expressed its thanks to Philippe Houzé for his large contribution to the development and to the success of Monoprix throughout the past years.

Pursuant to the transaction agreement signed between Casino and Galeries Lafayette on 26th July 2012, the acquisition by Casino of the 50% stake held by Galeries Lafayette will take place in 2013, after completion of the ongoing authorization process by the French Competition Authority

Paris, 20 November 2012 – The Casino Group has been committed for a long time to an attitude of social and environmental responsibility towards its customers and employees. In the stores of its Géant Casino and Casino Supermarchés banners, with the support of the European Commission, it has started a major information programme to raise awareness about recycling used products: “Recycle more and better together.”

What’s the use in recycling useless stuff?

According to a 2011 IFOP survey, 85% of people in France believe that supermarkets are the most appropriate place to leave their used products, such as batteries, mobile phones, ink cartridges, small electronic equipment and low-energy light bulbs.

Recycling these products has a very high environmental benefit as it enables the raw materials to be reused to make new objects and also allows the polluting substances to be treated. So there is a great deal of use in recycling something that’s become useless!

However, at the moment, just one in three of these products is left for recycling.

For this reason Casino is launching the “Recycle more and better together” programme in its stores.

With the support of the European Commission as part of its LIFE+ programme, the Casino Group decided to introduce the Collect+ project by launching a major information campaign, “Recycle more and better together”, aimed at its employees and customers. From November 2012 and throughout 2013, the goal is to improve French people’s knowledge of the environmental impact of recycling these products, as well as of how recycling works and good recycling behaviour. By doing so, the ultimate aim is to increase the collection rate of used products.

Two main communication events are planned. First, from 21 November to 1 December as part of the European Week for Waste Reduction, then in April 2013, with an extensive communication campaign in stores (posters, radio messages, dedicated pages in advertising materials) and on the Internet (www.recyclonsplus.eu).

A training module has been made available to personnel of the Géant Casino and Casino Supermarchés stores to teach them the principles of recycling these used products and enable them to answer customers’ questions.

The aim of the programme is to increase the tonnage of used products collected by 25% by the end of 2013 in the 400 stores taking part in the operation.

About the Life+ programme

The LIFE+ programme of the European Commission finances projects that contribute to the development and implementation of environmental policies and laws. In particular, the programme helps environmental issues to be included in other policies and, more generally, participates in sustainable development.

This year, the LIFE+ programme is celebrating 20 years of existence. In many European countries, it is supporting initiatives in favour of nature and biodiversity, environmental protection, and information and communication on environmental issues.
The Casino Group has obtained the European Commission’s support, under its LIFE+ programme, to put in place a major information campaign on leaving used products in stores for recycling.

About Active Sustainable
Based in Brussels, Active Sustainable is a non-profit organisation that works to promote sustainable development through sharing information, knowledge and experience by networking local and global actors. For the Casino project, Active Sustainable is participating by diffusing information on the project and its results.

About the Casino Group
The Casino Group is among the world leaders in food commerce. In France, the Group has 9,500 stores under multiple formats and banners (Géant Casino, Casino Supermarchés, Franprix, Leader Price, Monoprix, Petit Casino, Spar, Vival and Cdiscount). Elsewhere, it has 2,300 stores, mainly in Latin America (Brazil and Colombia) and South-East Asia (Thailand and Vietnam), which account for 45% of its sales. In 2011, the Casino Group generated consolidated sales of 34 billion euros. It employs 307,000 people around the world.
Press contact:
Image 7
Priscille Reneaume / +33 (0)1 53 70 74 61 / preneaume@image7.fr

The Collect+ project (LIFE 11 INF/FR/730) put in place with the support of the European Commission 

• Installation of the first order wall with image recognition and NFC in Lyon
• Casino became the first retailer in the world to offer consumers these new technologies and services in September 2012

From 23 to 27 October 2012, the Casino Group will be offering Lyon residents a new, fun way to shop on-the-go. Using their smartphone and the mCasino app, they will be able to do their shopping quickly and then either have it delivered or pick it up at Casino Shopping stores in Lyon.

Five panels set up on the forecourt of Part Dieu railway station and a 20 metre-long poster in Part Dieu metro station will feature 200 food products that can be used in five everyday meal scenarios: family dinner, romantic dinner, girls’ night-in, drinks with friends and dinner abroad.

In addition to its recent initiatives in this area, Casino is offering users access to a world first with an innovative purchasing solution based on image recognition and NFC contactless payment, two technologies that enable customers to use their smartphones to select a product in a matter of seconds.
Casino is also innovating in the field of customer services by providing:

• access to meal suggestions organised by theme and with product prices prominently displayed, making it easier to plan the evening meal and get detailed product information (ingredients, composition, nutrition, etc.);
• the option to pay on pick-up or at home when the shopping is delivered.

This world first is part of the Casino Group’s multichannel approach and dovetails perfectly with its innovation programme (using the mCasino app, customers can, for example, start to fill their shopping basket at home, continue while they are out-and-about and then finish their shopping in-store).

As the Group had already announced on 10 September, for the past few days some Casino customers with NFC mobiles have been able to enjoy the unique experience of doing their shopping at the first full NFC supermarket in the Belles Feuilles shopping centre in Paris (16th arrondissement). Today, Lyon residents are invited to test the app on order walls that have been set up in high-traffic areas.

The Casino Group thus continues to roll out its programme of trialling today the shopping solutions of tomorrow. “Our lifestyles and our relationship with time are changing. We need to go out to meet our customers rather than expecting them to come to us. We want to be their partner as they manage their everyday needs”, explains Thierry Aouizerate, Marketing Director of Casino France.

A simple, educational way to try out shopping on-the-go in Lyon

For one week, customers will be able to use the mCasino app to discover a new way to shop. Once they have downloaded the app, they can use their smartphones to do the shopping at any time themselves, or they can ask for help from one of the assistants available on the station forecourt and in the metro. Using tablet computers connected to the internet and NFC smartphones, they will help customers to discover and learn about these technologies, which aim to make shopping a more relaxing, enjoyable and time-saving experience.

Three technologies for selecting and ordering products

In order to make the service accessible to as many people as possible, the mCasino app not only allows products to be selected via the QR code, but also via NFC tags and image recognition.

Products arranged by theme

Five themes have been chosen to answer the question, “What are you doing tonight?” The product range includes both Casino and national brand products. Each theme highlights a “meal solution” and a varied assortment of products to cook or that are ready to use.

For the “girls’ night-in” theme, salmon and champagne are displayed alongside organic products, ready-to-use salad and sweet treats.

The “drinks with friends” theme provides all the essentials for a get-together with friends: crisps, salami, pizza, etc.

The “romantic dinner” theme offers a selection of sophisticated gourmet products including champagne and raspberries, smoked duck breast and a tiramisu twin pack to be enjoyed together.

The “family dinner” theme suggests a list of ingredients to make a Quiche Lorraine accompanied by a green salad.

The “dinner abroad” theme includes all the ingredients for a home-made burger as well as ready meals that provide a little “get away” on a plate!

Easy payment and delivery

Once they have completed their shopping, customers in Lyon and Villeurbanne can have it delivered home for free or they can pick it up two hours later at the Brotteaux and Lumières Casino Shopping stores. They can then either pay for the order at home on delivery or when they pick it up in-store.

To see pictures of the order walls in Lyon, visit:

http://old.groupecasino.axome.cc/fr/Nos-images.html

Press Contacts:

HighCo Shopper: Karine Perrier / 01.77.75.65.82 – k.perrier@highco.fr

Image 7: Karine Allouis / 01.53.70.74.70 – kallouis@image7.fr

• Strong growth in sales at €11.8 billion (+35.2%), driven by International, which now makes up 60.4% of the Group’s operations
• Sustained organic* growth up in Q3 over Q2 2012: +4.2% (vs. +3.4% in Q2 2012)

• • Internationally, very good performance (+8.8%)in sequential acceleration over Q2 2012 (+7.7%)
  • In France, business is resilient (+0.2%), boosted by the excellent performance of Cdiscount (+22.8%) and by the improved trends on convenience and discount formats.

In the third quarter of 2012, the Group’s consolidated sales were up +35.2%. Organic growth* was steady at +4.2% (+3.8% including petrol and calendar effect).Group same-store sales increased +2.2% excluding petrol.
Changes in scope positively contributed +33.9%, primarily under the impact of the full consolidation of GPA as of 2 July 2012. Foreign-exchange rates had an unfavourable impact of -2.5%. The petrol effect was minimal for the quarter. The calendar effect was negative in France (-0.8%) and nil internationally.

* Excluding petrol and calendar effect; organic growth is growth at constant scope of consolidation and exchange rates.

In France, resilient sales on an organic basis

In France, organic growth was +0.2% in the third quarter excluding calendar, up sequentially over Q2 (-0.5%). Reported sales declined by -1.6% after factoring in the deconsolidation of a master franchisee at Franprix-Leader Price.

• Despite a soft consumer environment, convenience formats posted satisfactory results. Sales for Monoprix, Casino supermarkets and superettes continue to grow on an organic basis. Total sales for superettes are improving (+0.1% and +0.6% excluding calendar effect), compared to a decline of -2.9% in Q2 2012.
• Franprix-Leader Price posted stable sales on an organic basis, excluding the calendar effect, an improvement over the previous quarter (-1.3%).
• Géant’s performance was affected by the decline in non-food, in particular on multimedia. The banner continues and accelerates the reduction of its non-food selling areas.
• Inversely, Cdiscount stepped up its growth (+22.8%), benefiting from excellent performance during the summer sales.
• In all, non-food sales by Géant and Cdiscount grew +2.2% in the third quarter.

International: continued strong organic growth: +8.8%

Casino Group’s international subsidiaries generated strong growth once again this quarter. Sales rose +8.8% on an organic basis excluding the calendar effect. Total sales for International subsidiaries, which rose +79%, also benefited from the full consolidation of GPA.
The foreign-exchange effect had a negative impact of -5.5% on international sales in the third quarter 2012.

• Latin America posted strong organic growth of +9.6%, driven by high same-store growth in Brazil and dynamic expansion in Colombia.
• Organic growth for Asia is still very significant at +10.2%, due to the sustained pace of expansion, especially in Thailand, where same-store growth improved in the third quarter.

Total International salesaccounted for 60.4% of Group sales over the period, compared with 46% in Q3 2011.

France: Sales AnalysisS – Q3 2012

Sales in France came to €4,663 million in the third quarter of 2012, an increase of +0.2% in organic growth, excluding petrol and the calendar effect.

* Excluding petrol and calendar effect

• Casino France

Same-store sales* excluding petrol for Géant Casino were down -5.4%*. During the quarter, Géant suffered notably from the impact of unfavourable weather and from the ongoing trend on non-food.
In a context of soft consumption, same-store food sales were down -2.9%*.
Non-food same-store sales fell by -7.3%*, without multimedia, for which the banner pursues the reduction of sales areas at an accelerated pace.
At the end of Q3, the banner already reached its annual target by reducing by 7.5% the non-food sales area of 80 stores.
Total sales area of hypermarkets will decrease by 2.4% in 2012.

Excluding petrol and calendar effect, organic growth in sales in Casino Supermarkets was up +3.5%. The banner has kept up its strategy of excellence in fresh goods and rollout of local products labelled “Le Meilleur d’ici” (“the Best from Here”), as well as highlighting its own private label, whose performance over the quarter was satisfactory. Total sales grew +3.1%. Same-store sales excluding the calendar effect were down -1.7%.

Sales in superettes are posting +0.6% organic growth (excluding the calendar effect), marking an improvement over Q2 2012. This performance was sustained by expansion, with Casino having opened 61 stores. 2 Petit Casino have been converted into Casino Shop. Moreover, since July, 17 Coop d’Alsace stores have joined the Casino proximity network. In total 48 Coop d’Alsace are affiliated.

Cdiscountsales rose +22.8% because of excellent performances obtained during the most recent sales. All product categories are developing very dynamically. The market place continues its growth, in line with the plan, making it possible to expand the total number of offers available on the Cdiscount website to 900,000, of which 100,000 are sold directly by Cdiscount. It already represents more than 7% of total business volume, which is up by 30%. Sales via m-commerce (smartphones and tablets) have increased faster than activity.
The Group has continued to roll out its multi-channel strategy over the third quarter, completing the number of pick-up points in its stores. There are now a total of 2,450 points for packages under 30 kg, and 450 points for packages over 30 kg.
Total non-food sales (cumulative) in France by Géant and Cdiscount rose +2.2% over Q3.

Excluding calendar (-0.9% over Q3) and restated for the transfer of four hypermarkets to Casino Supermarkets

• Franprix – Leader Price

Leader Price posted an increase of +0.1% in its same-store sales, excluding the calendar effect, an improvement over H1 2012. Sales & marketing activities initiated since the start of the year, from the standpoint of both assortment and pricing, are ongoing, and their good results are validating Leader Price’s recent strategic trend. 12 stores have opened since the year began, of which 4 over the period. The rollout of Cdiscount pick-up points continues satisfactorily, with 150 pick-up points currently in place.
Sales for Franprix rose +0.1% on an organic basis excluding the calendar effect for the quarter, an improvement compared with the previous quarter. Sales benefited notably from the improvement in private label performance. The loyalty card is also being rolled out throughout the store network. The banner has opened 7 stores over the period. Same-store sales exclusive of the calendar effect were down ‑2.6%, compared with -2.9% in Q2 2012.
Total Franprix-Leader Price sales were down -3.9%after factoring in the deconsolidation of a master franchisee.

• Monoprix

Sales at Monoprix rose +1.4% on an organic basis excluding the calendar effect. In a difficult market, the clothing, drugstore and beauty corners posted good performance in September. Online food sales also recorded very strong growth. Same-store growth excluding the calendar effect was +0.2%, in line with Q2 (+0.5%). Monoprix opened 7 stores over the period.

INTERNATIONAL: SALES ANALYSIS – Q3 2012

Consolidated sales at International subsidiaries rose substantially by +79%.
Scope effects had a positive impact of +75.6%, related to the full consolidation of GPA.
Exchange rates had an unfavourable impact of -5.5%, resulting primarily from the Brazilian real’s sharp depreciation against the euro.
Once again, organic growth was very high at +8.8%*, an improvement over Q2 (+7.7%), driven by good performance in both Latin America and Asia.

Reported growthOrganic growth*Same-store growthLatin America+98.7%+9.6%+7.5%Asia+19.9%+9.8%+3.5%

 * Excluding petrol and calendar effect

In Latin America, same-store sales showed steady growth of +7.5%, reflecting especially GPA’s good performance. Organic growth was +9.6%, boosted by continued rapid expansion, particularly in Colombia. In all, sales rose 98.7%, primarily under the impact of the full consolidation of GPA.

• GPA in Brazil

In Brazil, GPA posted same-store sales up +8.1%.
Same-store sales for GPA Food were up +6.8%*, driven by the success of the new Assaí cash & carry format which shows excellent performance. Minimercado Extra proximity stores benefited from the latest effects of the conversion of Extra Facil stores to that format, while the other food banners benefited from the conversion of Sendas and Comprebem stores in Q3 2011. The group pursued its policy of innovation over the quarter, notably by launching its first virtual storefront in São Paulo. Expansion pace was accelerated with the opening of 15 new stores during the quarter (i.e. +2.4%* in square meters): 3 hypermarkets, 4 supermarkets and 8 Minimercado were opened.

Same-store sales for Viavarejo increased +7.5%*, driven by significant sales initiatives and the extension of tax incentives on purchases of household appliances and furnishings. The assortment in store also improved. The expansion continued in Q3, with the opening of 9 Casas Bahia stores.

• Exito in Colombia

Total sales for Exito grew strongly in the third quarter, under the combined influence of high organic growth and a favourable foreign-exchange and calendar effect. Exito benefited from the rapid expansion of its store network. The strengthening of private labels had a positive effect on sales, as did the continued development of activities complementary to retail (specifically credit and insurance).
The expansion of Exito was focused on the development of convenience and discount stores, with the opening of 5 Exito Express, 6 Surtimax, 1 Exito supermarket and 1 Exito hypermarket.

Exito’s Q3 earnings will be released on 24 October 2012.

*Gross same-store sales published by GPA.

In Asia, same-store growth came out at +3.5%. Organic growth in sales excluding the calendar effect maintained a high level of +9.8%. Total sales grew +19.9%.

• Big C Thailand

Big C posted organic sales growth excluding calendarof +7.6%.  Big C’s same-store performance was robust at +3.6%, thanks to the very good results of promotional operations during the quarter, including the 19th anniversary of the banner, the success of the Extra premium concept, and the roll-out of the loyalty card. The promotional operations contribute to reinforce the leadership of Big C on the low prices. The roll-out of the partnership with service-station operator Bangchak continues, with the opening of pilot stores in the area around Bangkok. Big C continues to finalise the resolution of logistical and procurement problems caused by the floods in late 2011.
Expansion has had an increased contribution to organic growth, with the opening of 3 hypermarkets and many convenience formats over the quarter: 3 supermarkets, 15 Mini Big C and 15 Pure.

• Big C Vietnam

Big C Vietnam continued to post very strong growth in its sales on an organic basis, driven by recent expansion efforts. The banner has opened 1 hypermarket and 1 shopping mall during the quarter. Sales from the latest stores and malls to open have been very satisfactory. Over the quarter, Big C launched a private label offering regional, in-season fresh goods, and continued to roll out its loyalty programme.

In the Indian Ocean,same-store sales were down due to an unfavourable economic context in La Réunion.
PerspectivesS

In France, in a backdrop of soft consumption, the Group will continue to deploy its actions plan aiming at controlling its costs and reinforcing its operating excellence, in particular in hypermarkets. Expansion will continue in buoyant formats and channels, i.e. convenience, discount and e-commerce.

Internationally, where the Group holds leading or co-leading positions on high-potential markets, organic growth should continue at a sustained pace, based upon a strong commercial dynamic and expansion.

ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – Tel: +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or
+33 (0)1 53 65 64 18
IR_Casino@groupe-casino.fr

PRESS CONTACTS
Image 7
Grégoire LUCAS – Tel: +33 (0)1 53 70 74 94
glucas@image7.fr
or
Karine ALLOUIS – Tel: +33 (0)1 53 70 74 81
kallouis@image7.fr

Disclaimer

This press release has been prepared for informational purposes only and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or needs of any receiver. No representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this document. It should not be regarded by recipients as a substitute for the exercise of their own judgments. All opinions expressed herein are subject to change without notice.

APPENDICES
Main changes in the scope of consolidation

• Change in GPA stake, fully consolidated since July 2012. GPA was consolidated at 43.1% as of 30 September 2011.
• Full consolidation of DSO into Franprix – Leader Price from February 2011 to August 2011.
• Full consolidation of BARAT into Franprix – Leader Price from March 2012.
• Full consolidation of companies owning 21 stores within the Franprix – Leader Price Group as of July 2012.

 Third quarterChange9 monthsChange 2011 €m2012 €mReportedAt constant
exchange rates2011 €m2012 €mReportedAt constant
exchange ratesFRANCE 4,737.0 4,662.9 -1.6% -1.6% 13,839.2 13,689.3 -1.1% -1.1%Of which:        Casino France3,237.13,201.1-1.1%-1.1%9,103.79,063.1-0.4%-0.4%Géant Casino
hypermarkets1,463.11,358.0-7.2%-7.2%4,100.53,906.3-4.7%-4.7%Casino supermarkets970.91,001.3+3.1%+3.1%2,713.52,800.8+3.2%+3.2%Superettes426.9427.1+0.1%+0.1%1,142.01,140.4-0.1%-0.1%Other businesses376.2414.6+10.2%+10.2%1,147.61,215.5+5.9%+5.9%Franprix – Leader Price1,044.41,003.2-3.9%-3.9%3,303.33,161.2-4.3%-4.3%Monoprix455.5458.6+0.7%+0.7%1,432.21,465.1+2.3%+2.3%INTERNATIONAL 3,968.0 7 104,1 +79% +84.6% 11,009.5 15,425.6 +40.1% +41.8%Of which:         Latin America3,0446,049.8+98.7%+108.2%8,229.612,306.2+49.5%+53.7%Asia708.6849.6+19.9%+10.2%2,139.42,491.0+16.4%+9.1%Other sectors215.4204.7-5%-5.2%640.5628.4-1.9%-2.2%NET SALES FROM
CONTINUING
OPERATIONS
8,705 11,767.0 +35.2% +37.7% 24,848.6 29,114.9 +17.2% +17.9%

 If Casino group had become sole controlling shareholder of GPA on 1 January 2012 (full consolidation at 100% of GPA from this date), Latin America total sales under the period ended on 30 September 2012 would have been €14,755.4m, bringing the total Group sales to €34,983.6m.

Average exchange ratesH1 2011H1 2012Change9-month
20119-month
2012ChangeArgentina (ARS / EUR)0.1760.176-0.3%0.1740.175+0.5%Uruguay (UYP / EUR)0.0370.039+4.0%0.0370.038+2.5%Thailand (THB / EUR)0.0230.025+5.7%0.0230.025+6.6%Vietnam (VND / EUR) (x1,000)0.0350.037+5.5%0.0350.038+7.5%Colombia (COP / EUR) (x1,000)0.3880.430+10.8%0.3900.435+11.4%Brazil (BRL / EUR)0.4370.414-5.3%0.4360.407-6.6%

Organic growth: the organic growth is at constant scope of consolidation and exchange rates.

FRANCE31 Dec. 201130 June 201230 Sept. 2012Géant Casino hypermarkets127123125 Of which French Affiliates889   International Affiliates556+ service stations1019797Casino supermarkets422434439 Of which French Affiliates515455 International Franchise Affiliates323539+ service stations170172172Franprix supermarkets897897894 Of which Franchise outlets379384387Monoprix supermarkets514523527 Of which Naturalia556061 Of which Franchise outlets/Affiliates130131133Leader Price discount stores608599601 Of which Franchise outlets271256238Total supermarkets and discount stores2,4412,4532,461 Of which Franchise outlets/Stores operated under business leases863860852Petit Casino superettes1,7581,7071,657 Of which Franchise outlets292626Casino Shopping superettes61010Casino Shop superettes162729Eco Services superettes111Coop Alsace superettes 3148 Of which Franchise outlets 3148Spar superettes956972969 Of which Franchise outlets755748747Vival superettes1,7521,7081,699 Of which Franchise outlets1,7501,7061,698Casitalia and C’Asia superettes111Other Franchise stores1,1341,1091,104Corner, Relay, Shell, Elf, Carmag…1,1341,1091,104Wholesale activity937935935TOTAL CONVENIENCE STORES6,5616,5016,453 Of which Franchise outlets/Stores operated under business leases/Wholesale4,6064,5564,559Other Affiliate stores262829 Of which French Affiliates181919 International Affiliates8910Other businesses295304308 Cafeterias293302306 Cdiscount222TOTAL France9,4509,4099,376Hypermarkets (HM)127123125Supermarkets (SM)1,8331,8541,860Discount (DIS)608599601Superettes (SUP) and other stores (MAG)6,5876,5296,482Other (DIV)295304308

International31 Dec. 201130 June 201230 Sept. 2012ARGENTINA 242423Libertad hypermarkets151515Other businesses998URUGUAY525252Géant hypermarkets111Disco supermarkets272727Devoto supermarkets242424BRAZIL1,5711,5751,589Extra hypermarkets132134137Pao de Açucar supermarkets159159160Extra Perto supermarkets204204207Assai discount stores595959Extra Facil and Minimercado Extra superettes726977Casas Bahia discount stores544547556Ponto Frio401403393THAILAND221268304Big C hypermarkets108109112Big C supermarkets121518Mini Big C superettes517590Pure506984VIETNAM232430Big C hypermarkets181819New Cho superettes557C Express superettes014INDIAN OCEAN535353Jumbo hypermarkets111111Score/Jumbo supermarkets222222Cash and Carry supermarkets555Spar supermarkets887Other businesses778COLOMBIA351383395Exito hypermarkets808485Pomona, Carulla, Exito supermarkets130133134Surtimax discount stores788994Exito Express and Carulla Express superettes546974Ley and others988TOTAL INTERNATIONAL2,2952,3792,446Hypermarkets (HM)365372380Supermarkets (SM)591597604Discount (DIS)137148153Superettes (SUP)182219252Other (DIV)1,0201,0431,057