H1 2015 RESULTS

Group consolidated sales of €23.7bn, up +1.8%

  • In France:
    • Return to organic growth in Q2 2015 (+0.4%)
    • The two banners which significantly repositioned their prices, Géant and Leader Price, confirmed their recovery
  • Internationally:
    • Strong performance in the food retail business, particularly in Latin America
    • Against a backdrop of macroeconomic slowdown and base effect, Via Varejo reported lower sales, but continued to gain market shares
  • E-commerce: Cnova’s gross merchandise volume (GMV) continued to grow (+26.8% at constant exchange rates in H1 2015) driven by the development of marketplaces

Group trading profit of €521m, down compared with H1 2014

  • In France, significant residual impact of previous price cuts on the sales margins of Géant and Leader Price; this impact will wane in H2 2015
  • Internationally, macroeconomic slowdown and base effect in Brazil affecting the margins of GPA Food and Via Varejo in Q2 2015
  • E-commerce: impact of the investments made in Q1 2015 to drive growth (infrastructure, logistics, etc.)

Increasing Net profit Group share of €75m and lower Underlying net profit Group share of €63m.

 

Read the press release

2015 Half-year results presentation

Link to the Webcast 30 july 2015