Carrefour France 2021 results

"Carrefour has performed very well in 2021, confirming the successful execution of its strategic plan." Alexandre Bompard, the group's CEO, was very satisfied on the annual presentation of its results. In France, the retailer announced a turnover of 39.3 billion euros, up + 1.8% on a like-for-like basis excluding petrol. The figures are even better when the fuel effect is considered: +3.7% in 2021.
In detail, food (+2.4%) fared better than non-food (-1.7%). This year follows the year 2020, which was boosted by the health crisis. Over two years, growth amounts to +5.4%.
The retailer is progressing in all formats, starting with hypermarkets. On a same-store basis, they ended up +0.6% at 19.6 billion euros. Hypermarkets in particular had a good first half of 2021. As last year, supermarkets recorded the strongest growth: + 3.6% to 13.2 billion euros. For its part, convenience stores ended the year at 6.5 billion euros, up +2.1%.
The Carrefour group is focusing on the very good performance of its e-commerce business in 2021. It will post growth of +19% compared to 2020 (+80% vs. 2019) and +18% in food (+77% vs. 2019).
Profitability ultimately improves quite significantly by 2021. In France, operating profit from ordinary activities (OPEX) increased by 20.4% to €757m. This is the strongest increase at group level. Overall, OPEX jumped by 7.7% to €2.2 billion.

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