|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||23.11 - 23.97|
|52 Week Range||21.58 - 50.08|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 09, 2019|
|1y Target Est||N/A|
RELEASE OF THE HALF YEAR 2020 FINANCIAL REPORT The Group has released its half year 2020 financial report, in French, on its website. It is available following this link: https://www.groupe-casino.fr/wp-content/uploads/2020/07/RAPPORT-FINANCIER-AU-30-JUIN-2020.pdfANALYST AND INVESTOR CONTACTSLionel Benchimol – +33 (0)1 53 65 64 17 firstname.lastname@example.org+33 (0)1 53 65 24 17 IR_Casino@groupe-casino.frPRESS CONTACTSCasino Group – Communications Department Stéphanie Abadie – email@example.com – +33 (0)6 26 27 37 05or+33 (0)1 53 65 24 78 – firstname.lastname@example.orgAgence IMAGE 7 Karine Allouis – +33 (0)1 53 70 74 84 – email@example.com Franck Pasquier – +33 (0)6 73 62 57 99 - firstname.lastname@example.org Disclaimer This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.Attachment * 2020 07 30 - PR - Release of the H1 2020 financial report
The Group has released its half year 2020 results presentation on its website. It is available following this link:https://www.groupe-casino.fr/wp-content/uploads/2020/07/20200730-H1-2020-Results-Presentation.pdf ANALYST AND INVESTOR CONTACTSLionel Benchimol – +33 (0)1 53 65 64 17 email@example.com+33 (0)1 53 65 24 17 IR_Casino@groupe-casino.frPRESS CONTACTSCasino Group – Communications Department Stéphanie Abadie – firstname.lastname@example.org – +33 (0)6 26 27 37 05or+33 (0)1 53 65 24 78 – email@example.comAgence IMAGE 7 Karine Allouis – +33 (0)1 53 70 74 84 – firstname.lastname@example.org Franck Pasquier – +33 (0)6 73 62 57 99 - email@example.com Disclaimer This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.Attachment * 2020 30 07 - PR - Release of the half year 2020 results presentation
In line with the AMF’s recommendations, all costs associated with the pandemic including special bonuses and similar benefits paid to employees are presented in trading profit * Strong increase in consolidated net sales, up +10.4% on a same-store basis, with: * In France, same-store growth of +6.0% and +7.9% including Cdiscount * For Cdiscount1, acceleration in gross merchandise volume (GMV) to +25% growth, driven by a +39% increase in the marketplace, which accounted for 46.3% of GMV * In Latin America, organic growth of +17.3%, led by Assaí in Brazil (+26.4%1) * Consolidated EBITDA for the first half of the year up 4%2 and EBITDA margin in France up \+ 9 bps despite the additional costs of the pandemic, thanks to strengthened cost-saving plans * In France, EBITDA margin for the retail business improved by +9bps to 7.2%. * Cost savings plans and the Rocade plan generated savings of €40m, representing a sustained improvement in the cost ratio of +50bps * The health crisis generated a +€80m effect on activity, which was more than offset by temporary additional costs related to emergency measures taken to ensure the supply of populations in challenging conditions (logistics costs: -€27m, staff reinforcements: -€28m) and to protect our employees and clients (safety, protection equipment, cleaning: -€38m). On top of these operational effects of -€13m, the special employee bonus of -€37m brings the net impact of the health crisis to €-50m in H1 2020 * Excellent performance by Cdiscount, with EBITDA up +€30m, led by the marketplace * In Latin America, EBITDA increased by +9.9%2, reflecting excellent performance at Assaí * In France, strong free cash flow generation of €507m over 12 months; solid liquidity at end-H1 2020 with €3.2bn including €2.3bn in undrawn confirmed credit lines * Growth pillars strengthened in France * Formats: double-digit growth in urban and convenience formats in the quarter, with 68 store openings; Growth of +14% in organic sales. A total of 444 autonomous stores * Food E-commerce3: triple-digit growth and strong momentum maintained post-lockdown, with around 10,000 orders per day (vs. 6,500 before the crisis); deployment of the Casino O’logistique automated warehouse based on Ocado technology, with a five-fold increase in orders in one month * Non-food E-commerce: acquisition of one million new customers in Q2 * Sale of Leader Price to Aldi France for €735m, bringing total amount from disposals signed to €2.8bn, and completion of the sale of Vindémia, bringing total proceeds received to €2.0bn In €m H1 2019 restated H1 2020 Reported change Change at CER Net sales 16,842 16,140 -4.2% +5.9% EBITDA 1,123 1,066 -5.1% +4.0% Trading profit 455 386 -15.3% -3.6% Underlying net profit from continuing operations, Group share 12 (87) \- \- Net debt (4,703) (4,834) -131 n.m. o/w France (2,899) (2,821) +77 n.m. First-half 2020 highlightsn Strong mobilisation of Group resources during the unprecedented Covid-19 crisisCasino Group mobilised its resources to fulfil its essential role of securing food supplies for people during the unprecedented health crisis. Priority was placed on implementing measures to protect employees and customers: face masks and hydro-alcoholic gels, plexiglass screens, systematic cleaning in line with health guidelines, physical distancing between customers, and automated checkout solutions. Measures were also taken in concert with suppliers and public authorities to ensure supply chain continuity and secure operations.The Group recorded additional costs related to maintaining its operations under challenging conditions. Most of these no longer apply since the lifting of lockdowns. * Additional logistics costs: extra transport costs, organisational issues relating to problems with supplier deliveries, non-application of logistics-related penalties; * Additional staff costs: extra staff, night-time hours, employer contributions for employees on sick leave or at home minding their children; * Additional health and safety costs: emergency mass purchases of face masks, gloves and hydro-alcoholic gels, plexiglass screens, reinforced store cleaning, security guards to regulate the distance between customers; * Additional costs relating to the special bonus for employees. * Acceleration in E-commerce and digital solutions, and further development of buoyant formatsIn the first half of the year, demand was particularly high in the Group’s convenience stores and on its E‑commerce sites. Food E-commerce generated triple-digit growth in Q2 2020, with the deployment of click & collect and home delivery solutions in urban and convenience formats. The Casino O’logistique automated warehouse, based on Ocado technology, was also deployed during the period. Ramp-up at the warehouse was rapid, with a five-fold increase in the number of orders between end-May and end-June. The delivery zone has been extended to four departments (Paris and its inner suburbs), covering 6.8m residents. When lockdown measures were lifted, the transition to a new consumption model picked up pace. Orders were up by +50% to around 10,000 orders per day in the last weeks of the period, versus 6,500 before the crisis.Cdiscount maintained its strong growth momentum, driven by an increase in the marketplace contribution to gross merchandise value (GMV) to 46.3% in Q2, up +6.2pts. The Group adjusted its product mix towards more high-margin, recurring products (DIY, gardening, sport, daily shop). The customer base increased significantly with 1m new clients in Q2, with a peak of 25m unique visitors in May.Digital solutions continued to be rolled out in stores. In June, automated checkouts4 represented 46% of total checkouts in hypermarkets and 40% in supermarkets. The Group now has 444 autonomous stores, of which half of hypermarkets (58 stores) and half of supermarkets (167 stores). The CasinoMax Extra5 subscription loyalty programme accounted for 10% of net sales at hypermarkets and supermarkets during the period.At the same time, the Group continued to focus on developing its premium and convenience formats, with 68 store openings during the first half. The objective is to open 300 new stores by 2021, in addition to the 213 stores opened in 2019. The Group is also pursuing the development of non-food corners, particularly at Franprix with Hema and Decathlon, which have now been integrated into 79 and 18 stores, respectively. The organic segment maintained its good momentum with growth of +14.4% for the first half of the year.n Continued development of new businessesCasino Group continues to develop its new value-creating businesses. GreenYellow pursed its international expansion during the period by signing its 100th photovoltaic contract in Thailand, as well as a 12MWp photovoltaic contract in South Africa with a company that operates in precious metals. In Brazil, energy efficiency contracts were signed with several retailers. Development of the Data business with relevanC has continued, up by a strong +34% during the first half to €44m, despite a downturn in the market. The “relevanC Advertising” platform, for managing and monitoring advertising campaign budgets, will help speed up the acquisition of new clients. In the Data Centers business, ScaleMax, computing capacity at the warehouse in Réau increased by +30% in the first half of the year. During lockdown, computing capacity was made available to the Folding@home project for research into Covid-19.n Advances in the disposal of non-strategic assetsCasino Group announced the sale of 567 Leader Price stores and 3 warehouses in metropolitan France to Aldi France, for an enterprise value of €735m6, bringing total amount from disposals signed to €2.8bn. The Group also completed the sale of its subsidiary Vindemia, the leading retailer in the Indian Ocean region. This brought the total proceeds received from completed disposals to €2.0bn.n Recognition of the Group’s CSR commitmentsCasino Group was named the No. 1 European retailer by Vigeo Eiris7 for its CSR policy and commitments. The Group ranked as the top European retailer for its commitments to the climate, to environmental protection, its human resources policies and its corporate governance, and for its employee relations policies and human resources out of the entire panel of 129 French companies evaluated. Among its initiatives, the Group promoted organic products, which generated €1.2bn in net sales in H1 2020 (over a 12‑month period), notably via its network of more than 200 specialised stores. It used 160 tonnes of recycled plastic for its packaging. In addition, 18,700 tonnes of products were donated to food banks and other non-profit organisations in 2019. Lastly, the Group reduced its direct greenhouse gas emissions by 19.6% between 2015 and 20198. Second-quarter 2020 net sales In the second quarter of 2020, consolidated net sales came to €7,846m, down -7.5% in total. The currency and fuel effects had unfavourable impacts of -13.1% and -2.9% respectively over the period, while the calendar effect was -0.4%. On a same-store basis, consolidated net sales rose by +10.4%9, driven by strong demand in France and Latin America, in an environment shaped by the unprecedented health crisis. In France, total sales were impacted by a downturn in fuel sales (-€157m or -4.1pts) and by the impact of the Rocade plan on hypermarkets and supermarkets. Same-store growth for the quarter came to +6.0%, led by double-digit growth in urban and convenience formats (Franprix, supermarkets and convenience stores) and triple-digit growth in food E-commerce. Monoprix posted a sharp increase in food sales (+7.6% on a same-store basis) and enjoyed renewed momentum in non-food sales from mid-May.Cdiscount10 delivered organic growth in gross merchandise volume (GMV) of +24.8%, despite the postponement of the summer sales period to mid-July, with growth driven by the marketplace and by direct sales. The marketplace grew by +39% over the quarter and accounted for 46.3% of GMV (+6.2pts). Cdiscount attracted one million new customers during the quarter, with a peak of 25m unique visitors in May. International GMV doubled during the quarter, thanks to a platform that brings together 88 websites covering 25 countries.In Latin America (GPA Food and Éxito), sales rose by +12.5% on a same-store basis and by +17.3% on an organic basis. The total net sales figure was impacted by an unfavourable currency effect of -28.2%. During the quarter, sales in Latin America benefited from the success of Multivarejo’s turnaround strategy, which resulted in +15.8% growth on a same-store basis2, and from another excellent performance by Assaí, which reported organic growth of +26.4%2. Éxito put in a good performance, achieving same-store growth of +6.0%2 despite restrictions on movement in Colombia. First-half 2020 resultsConsolidated net sales amounted to €16,140m in H1 2020, representing a change of -4.2% in total and an increase of +9.4% on an organic basis and +8.4% on a same-store basis.In France, same-store H1 net sales rose by +6.0%, led by the urban and convenience formats. E-commerce (Cdiscount) posted an organic increase in gross merchandise volume (GMV) of +12.0%11, driven by the growing contribution of the marketplace and B2C services. Cdiscount has recorded sustained growth since the end of the lockdown, confirming the trend.Sales in Latin America rose by +15.7% on an organic basis and by +10.5% on a same-store basis, lifted by a very good performance from Assaí and an upturn in demand at Multivarejo.Group EBITDA reached €1,066m, up +4.0% at constant exchange rates.In France, EBITDA margin for the retail business improved by +9 bps to 7.2%. The cost-saving plans and the Rocade plan generated savings of +€40m, representing a sustainable improvement in the cost ratio of +50bps.The health crisis generated a +€80m effect on activity, which was more than offset by temporary additional costs related to emergency measures taken to ensure the supply of populations in challenging conditions (logistics costs: -€27m, staff reinforcements: -€28m) and to protect our employees and clients (safety, protection equipment, cleaning: -€38m). On top of these operational effects of -€13m, the special employee bonus of -€37m brings the net impact of the health crisis to €-50m in H1 2020.Cdiscount recorded an increase in EBITDA of +€30m, for an EBITDA margin of 4.5% (+302bps), and an increase in gross margin of +2.8pts, driven by a shift in the product mix to generate more high-margin, repeat-purchases sales (DIY, gardening, sport, daily shop).In Latin America, EBITDA increased by +9.9% excluding the currency effect. At GPA, EBITDA grew by +10.9% excluding the currency effect, led by the improving profitability of Assaí. For Grupo Éxito, EBITDA was up +7.3% excluding the currency effect. Consolidated trading profit came to €386m. Trading profit was impacted by the non-recurring additional costs associated with Covid-19 (of which -€47m of special employee bonus for the whole Group) and a currency impact of -€55m. Excluding special employee bonuses, consolidated trading profit improved by +7% at constant exchange rates. In France, the retail trading profit amounted to €148m up +2% excluding special employee bonus.Underlying net financial expense and net profit, Group share12Underlying net financial expense for first-half 2020 came to -€378m versus -€341m in first-half 2019. Financial expenses were higher following the refinancing plan in France in H2 2019, as the impact of the reduction in gross debt from disposals already signed in 2020 is not yet reflected. GPA’s financial expenses increased because of the takeover bid on Éxito (acquisition of non-controlling shares) achieved in H2 2019.Underlying profit (loss) from continuing operations, Group share came out at -€87m in H1, compared with €12m in first-half 2019.Consolidated net profit (loss)Consolidated net profit (loss) came to -€445m in first-half 2020, versus -€226m in first-half 2019. Net profit (loss) from continuing operations came to -€287m, primarily reflecting -€249m of non-recurring expenses, most of which are non-cash.Net profit (loss) from discontinued operations, Group share came to -€158m, notably due to stock clearance initiatives. Financial position at 30 June 2020France free cash flow excluding the disposal plan and the Rocade plan came to -€40m in H1 2020, representing a gain of +€140m versus H1 2019. Change in working capital for H1 2020 reflected a +€137m improvement on H1 2019 driven by the sales momentum and the action plans. Gross Capex was down -14% over the period.In France, net debt declined slightly over the 12 months to 30 June 2020 after the reintegration of €555m corresponding to the Segisor repayment (c.€200m) and to the settlement of the GPA forward and TRS (€357m). In France, the Group generated operating free cash flow of €507m13 in France, or €254m after financial expenses and dividends, and collected €469m in proceeds from disposals.At 30 June 2020, Casino France14 net debt stood at €2.8bn, versus €2.9bn a year earlier, and E-commerce net debt was virtually stable. Latam net debt increased by €187m in connection with the Group’s structural simplification process in Latin America.At 30 June 2020, Casino Group consolidated net debt stood at €4.8bn vs. €4.7bn a year earlier. At 30 June 2020, Casino in France2 had €3.2bn in liquidity, comprising a gross cash position of €913m and confirmed undrawn lines of credit of €2.3bn. In addition, the Group had an amount of €186m in an escrow account dedicated to the repayment of bonds. Additional financial information relating to the 2019 refinancing documentation At 30 June 2020, the Group complied with covenants in the “France Retail + E-commerce” scope15. The gross debt/adjusted EBITDA ratio was 6.62x, below the 7.50x limit, with headroom of €764m in gross debt. The adjusted EBITDA/net finance costs ratio was 3.76x, above the required 2.25x, representing headroom of €350m in EBITDA.Outlook for H2 2020The Group's priorities in France for the second half of the year are: * Activity growth driven by food E-commerce and Cdiscount, expansion in buoyant formats and the commercial momentum of the banners; * Continued improvement in profitability through the ramp-up of ongoing cost-saving plans and the growth in new activities (energy and data); * Cash generation with continued efforts to reduce inventories and control capex; * Reduction in gross debt with the allocation of all proceeds from the disposal plan to debt reduction, and the continuation of the €4.5bn disposal plan of non-strategic assets.The Board of Directors met on 29 July 2020 to approve consolidated financial statements for first-half 2020. These financial statements have been reviewed by the Statutory Auditors. The presentation of the 2020 half-year results is available on the Casino Group corporate website (www.groupe-casino.fr/en) APPENDICES – HALF-YEAR RESULTSConsolidated net sales by segment Net sales In €m H1 2019 restated H1 2020 Change Change at constant exch. rates France Retail 8,045 7,791 -3.2% - Latam Retail 7,908 7,401 -6.4% +15.0% E-commerce (Cdiscount) 889 948 +6.6% - Group total 16,842 16,140 -4.2% +5.9% Consolidated EBITDA by segment EBITDA In €m H1 2019 restated H1 2020 Change Change at constant exch. rates France Retail 601 564 -6.2% -5.7% Latam Retail 508 459 -9.7% +9.9% E-commerce (Cdiscount) 13 43 n.m. n.m. Group total 1,123 1,066 -5.1% +4.0% Consolidated trading profit by segment Trading profit In €m H1 2019 restated H1 2020 Change Change at constant exch. rates France Retail 207 148 -28.7% -27.3% Latam Retail 265 232 -12.5% +6.3% E-commerce (Cdiscount) (17) 6 n.m. n.m. Group total 455 386 -15.3% -3.6% Underlying net profit In €m H1 2019 restated Restated items H1 2019 Underlying H1 2020 Restated items H1 2020 Underlying Trading profit 455 0 455 386 0 386 Other operating income and expenses (286) 286 0 (249) 249 0 Operating profit 169 286 455 137 249 386 Net finance costs (156) 0 (156) (188) 0 (188) Other financial income and expenses16 (139) (47) (185) (264) 74 (190) Income taxes17 (24) (33) (58) 12 (66) (53) Share of profit of equity-accounted investees 22 0 22 15 0 15 Net profit (loss) from continuing operations (127) 206 79 (287) 257 (30) o/w attributable to non-controlling interests18 45 22 67 47 9 57 o/w Group share (172) 184 12 (334) 248 (87) Underlying net profit corresponds to net profit from continuing operations, adjusted for (i) the impact of other operating income and expenses, as defined in the "Significant accounting policies" section in the notes to the consolidated financial statements, (ii) the impact of non-recurring financial items, as well as (iii) income tax expense/benefits related to these adjustments and the application of IFRIC 23 "Uncertainties about Tax Treatment".Non-recurring financial items include fair value adjustments to equity derivative instruments (such as total return swaps and forward instruments related to GPA shares) and the effects of discounting Brazilian tax liabilities. Change in net debt by entity In €m H1 2019 restated Change H1 2020 France Retail (2,899) +77 (2,821) E-commerce (Cdiscount) (356) -21 (376) Latam Retail (1,449) -187 (1,636) o/w GPA Food (322) -1,090 (1,412) o/w Éxito (729) +715 (14) o/w Segisor (381) +196 (185) Total (4,703) -131 (4,834) Group net debt In €m H1 2019 restated H1 2020 Group net debt at 1 January (3,378) (4,053) Free cash flow19 (893) (721) Financial expenses (excluding interest on lease liabilities) (245) (290) Dividends paid to the owners of the parent and holders of TSSDI deeply-subordinated bonds (274) (67) Share buybacks (58) (1) Other net financial investments 52 (238) Other non-cash items 240 656 Assets held for sale recognised in accordance with IFRS 5 (148) (120) Group net debt at 30 June (4,703) (4,834) France net debtIn €m H1 2019 restated H1 2020 France net debt at 1 January (2,724) (2,282) Free cash flow20 before disposal plan and Rocade plan (180) (40) Financial expenses (excluding interest on lease liabilities) (144) (208) Dividends paid to the owners of the parent and holders of TSSDI deeply-subordinated bonds (218) (37) Share buybacks and transactions with non-controlling interests (94) (1) Other net financial investments (excl. settlement of GPA TRS) 33 (30) Other non-cash items 103 46 o/w non-cash financial expenses 69 80 Change in net debt excl. settlement of GPA TRS, disposal plan, Rocade plan and IFRS 5 (502) (270) Settlement of GPA TRS 0 (248) Disposal plan 38021 18622 Rocade plan 72 (18) Assets held for sale recognised in accordance with IFRS 5 (125) (189) France net debt at 30 June (2,899) (2,821) Consolidated simplified balance sheet In €m 31/12/2019 restated 30/06/2020 Right-of-use assets 4,837 4,837 Other non-current assets 17,687 15,123 Current assets 12,603 10,630 Total assets 35,127 30,590 Total equity 8,291 6,627 Non-current financial liabilities 8,100 7,326 Non-current lease liabilities 3,937 3,627 Other non-current liabilities 1,624 1,345 Current lease liabilities 740 671 Other current liabilities 12,436 10,993 Total equity and liabilities 35,127 30,590 APPENDICES – NET SALES – Q2 2020Quarterly consolidated net sales by segment NET SALES In €m Q2 2020 net sales Total net sales growth Organic net sales growth23 Same-store sales growth1 France Retail 3,906 -5.6% +3.1% +6.0% Cdiscount 499 +20.9% +20.9% +20.9% Total France 4,405 -3.2% +4.9% +7.9% Latam Retail 3,441 -12.5% +17.3% +12.5% GROUP TOTAL 7,846 -7.5% +10.8% +10.4% Consolidated net sales in France by bannerNET SALES BY BANNER Q1 2020 Same-store growth1 Q2 2020 Total growth Organic growth1 Same-store growth1 Monoprix 1,156 +3.6% 1,137 -0.5% +0.3% +2.9% Supermarkets 747 +7.4% 779 -1.4% +8.9% +9.9% o/w Casino Supermarkets24 711 +7.5% 740 -0.7% +9.8% +11.8% Franprix 412 +12.6% 446 +11.8% +13.7% +14.7% Convenience & Other25 622 +9.5% 631 -1.3% +4.9% +12.8% o/w Convenience26 336 +11.5% 362 +11.1% +11.5% +18.0% Hypermarkets 948 +1.7% 912 -21.6% -3.7% -0.8% o/w Géant2 900 +1.5% 868 -22.0% -3.1% -0.1% o/w Food 631 +2.9% 641 -13.5% n.a. -0.7% o/w Non-food 97 -8.1% 110 -15.9% n.a. +3.1% FRANCE RETAIL 3,885 +5.8% 3,906 -5.6% +3.1% +6.0% Main quarterly data – Cdiscount27KEY FIGURES Q2 2019 Q2 2020 Reported growth Organic growth GMV total including tax 847 1,047 +23.5% +24.8% o/w direct sales 414 449 +7.9% o/w marketplace sales 282 393 +39.3% Marketplace contribution (%) 40.1% 46.3% +6.2pts Net sales (in €m) 469 556 +18.6% +16.9% Traffic (millions of visits) 235 315 +34.0% Mobile traffic contribution (%) 71.5% 71.1% -0.4pts Active customers (in millions) 9.2 9.6 +5.2% Gross sales under banner in FranceTotal estimated gross food sales under banner In €m, excluding fuel Q2 2020 Same-store change (excl. calendar effects) Monoprix 1,156 +2.9% Franprix 513 +14.7% Supermarkets 769 +9.9% Hypermarkets 774 -1.3% Convenience 451 +18.0% Other 298 n.a. Total Food 3,962 +6.4% Total estimated gross non-food sales under banner In €m, excluding fuel Q2 2020 Same-store change (excl. calendar effects) Hypermarkets 131 +2.5% Cdiscount 801 +20.9% Total Non-food 932 +17.8% Total estimated gross sales under banner In €m, excluding fuel Q2 2020 Same-store change (excl. calendar effects) Total France and Cdiscount 4,894 +8.2% APPENDICES – ADDITIONAL Q2 2020 FINANCIAL INFORMATION RELATING TO THE AUTUMN 2019 REFINANCING DOCUMENTATION See press release dated 21 November 2019Financial information for the first half ended 30th June, 2020: In €m France Retail \+ E-commerce Latam Total Revenues28 8,747 7,393 16,140 EBITDA1 606 460 1,066 (-) impact of leases29 -323 -150 -474 Adjusted Consolidated EBITDA including leases1 283 310 592 Trends underlying the variations of these financial metrics are as described elsewhere in this press release.Financial information on a last 12-month period ended 30th June, 2020: In €m France Retail \+ E-commerce Latam Total Revenues1 18,109 15,834 33,943 EBITDA1 1,526 1,057 2,583 (-) impact of leases2 -654 -303 -958 (i) Adjusted Consolidated EBITDA including leases1 4 872 754 1,625 (ii) Gross financial debt: loans and borrowings1 30 5,776 2,777 8,554 iii) Gross Cash & Cash Equivalent1 3 950 1,258 2,207 As at 30th June 2020, the Group’s liquidity within the “France + E-commerce” perimeter was €3,25bn, with €922m of cash and cash equivalent and €2.33bn of undrawn confirmed credit lines.Additional information regarding covenants and segregated accounts:Covenants tested as from March 31st 2020 pursuant to the €2bn Revolving Credit Facility dated November 18th 2019 Type of covenant (France and E-commerce) As at 30 June 2020 Adjusted Gross Financial Debt/Adjusted EBITDA31 <7.50x32 6.62x Adjusted EBITDA4 / Net finance costs >2.25x 3.76x Covenant metrics tested as of end June 2020 do not yet reflect the impact of the Leader Price disposal.The Group confirms that €186m arising from the disposal of Vindemia were credited to the Segregated Account during the Financial Quarter ended 30th June 2020. No cash has been debited from the Segregated Account and its balance stood at €186m as at June 30th 2020\. No cash has been credited or debited from the Bond Segregated Account and its balance remained at €0.Store network at period-endFRANCE 30/09/2019 31/12/2019 31/03/2020 30/06/2020 Géant Casino hypermarkets 110 109 104 104 o/w French franchised affiliates 6 4 4 4 International affiliates 5 6 6 6 Casino Supermarkets 421 411 411 415 o/w French franchised affiliates 91 83 69 69 International franchised affiliates 21 22 22 22 Monoprix 778 784 789 789 o/w franchised affiliates 180 186 190 190 Naturalia 181 182 181 181 Naturalia franchises 19 23 26 26 Franprix 881 877 867 869 o/w franchises 448 459 441 478 Convenience 5,142 5,139 5,130 5,134 Other activities (Restaurants, Drive, etc.) 394 367 223 219 Total France 7,726 7,687 7,524 7,530 INTERNATIONAL 30/09/2019 31/12/2019 31/03/2020 30/06/2020 ARGENTINA 25 25 25 25 Libertad hypermarkets 15 15 15 15 Mini Libertad and Petit Libertad mini-supermarkets 10 10 10 10 URUGUAY 91 91 93 93 Géant hypermarkets 2 2 2 2 Disco supermarkets 29 29 29 29 Devoto supermarkets 24 24 24 24 Devoto Express mini-supermarkets 36 36 36 36 Möte 0 0 2 2 BRAZIL 1,054 1,076 1,072 1,070 Extra hypermarkets 112 112 107 107 Pão de Açúcar supermarkets 185 185 185 182 Extra supermarkets 161 153 151 151 Compre Bem 13 28 28 28 Assaí (cash & carry) 153 166 167 169 Mini Mercado Extra & Minuto Pão de Açúcar mini-supermarkets 236 237 238 238 Drugstores 123 123 123 122 \+ Service stations 71 72 73 73 COLOMBIA 1,980 2,033 1,984 1,981 Éxito hypermarkets 92 92 92 92 Éxito and Carulla supermarkets 158 158 157 157 Super Inter supermarkets 70 70 69 69 Surtimax (discount) 1,537 1,588 1,540 1,536 o/w “Aliados” 1,445 1,496 1,460 1,459 B2B 30 30 32 32 Éxito Express and Carulla Express mini-supermarkets 93 95 94 95 CAMEROON 1 1 1 1 Cash & carry 1 1 1 1 Total International 3,151 3,226 3,175 3,170 ANALYST AND INVESTOR CONTACTSLionel Benchimol – +33 (0)1 53 65 64 17 firstname.lastname@example.org+33 (0)1 53 65 24 17 IR_Casino@groupe-casino.frPRESS CONTACTSCasino Group – Communications Department Stéphanie Abadie – email@example.com – +33 (0)6 26 27 37 05or+33 (0)1 53 65 24 78 – firstname.lastname@example.orgAgence IMAGE 7 Karine Allouis – +33 (0)1 53 70 74 84 – email@example.com Franck Pasquier – +33 (0)6 73 62 57 99 - firstname.lastname@example.org Disclaimer This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.* * * 1 Data published by the subsidiary 2 Growth at constant exchange rates 3 Food E-commerce = E-commerce France excluding Cdiscount 4 Via smartphone or self-service checkout 5 Subscription of €10 per month (or €90 for 12 months) offering an immediate 10% discount on all purchases 6 Including a €35m earn-out, contingent on the achievement of certain operating indicators during the transition period 7 A subsidiary of rating agency Moody’s 8 Tonnes of CO2 equivalent in Scopes 1 + 2, based on the 2019 scope of consolidation 9 Excluding fuel and calendar effects 10 Data published by the subsidiary 11 Data published by the subsidiary 12 See definitions on page 8 13 Excluding disposal plan and Rocade plan 14 Casino Group’s holding structure, including the French activities and the wholly-owned holding companies 15 Perimeter as defined in financing documentations with mainly Segisor accounted for within France Retail + Ecommerce perimeter 16 Other financial income and expenses have been restated, primarily for the impact of discounting tax liabilities, as well as for changes in the fair value of the total return swaps on GPA shares and the GPA forward 17 Income taxes have been restated for the tax effects corresponding to the above restated financial items and for the tax effects of the restatements and the application of IFRIC 23 "Uncertainties about Tax Treatment" 18 Non-controlling interests have been restated for the amounts relating to the restated items listed above 19 Before dividends paid to the owners of the parent and holders of TSSDI deeply-subordinated bonds, and before financial expenses 20 Before dividends paid to the owners of the parent and holders of TSSDI deeply-subordinated bonds, excluding financial expenses, including rental expense (repayments of lease liabilities and interest on leases) 21 Store properties and restaurants 22 Proceeds received from the sale of Vindémia 23 Excluding fuel and calendar effects 24 Excluding Codim stores in Corsica: 8 supermarkets and 4 hypermarkets 25 Other: mainly Vindémia and restaurants 26 Convenience stores excluding Leader Price Express; net sales on a same-store basis include the same-store performance of franchised stores 27 Data published by the subsidiary 28 Unaudited data, perimeter as defined in financing documentations with mainly Segisor accounted for within France Retail + Ecommerce perimeter 29 Interest paid on lease liabilities and repayment of lease liabilities as defined in the documentation 30 Data as of 30th June, 2020 31 EBITDA as defined in the refinancing documentation is restated for rents paid and interest on rents paid. 32 7.50x at 30 June 2020, 7.25x at 30 September 2020, 5.75x at 31 December 2020, 6.50x at 31 March 2021, 6.00x at 30 June 2021 and 30 September 2021, and 4.75x as from 31 December 2021. Attachment * 20203007 - PR - H12020 Results
Casino Group has finalised the sale to GBH of its subsidiary Vindémia, the leading retailer in the Indian Ocean Paris, 30th June 2020, Casino Group announces that it has.
Release of information at the 2020 Annual General Meeting of the Casino, Guichard-Perrachon Group Paris, 17 June 2020, The Casino, Guichard-Perrachon Group is holding today.
CASINO, GUICHARD-PERRACHONFrench corporation (société anonyme) with a share capital of Euro 165,892,131.90Registered office : 1, Cours Antoine Guichard, 42000.
Q1 2020 additional financial informationAs part of the quarterly information requirements included in the documentation in relation to the fall 2019 refinancings (cf. press.
RELEASE OF THE 2019UNIVERSAL REGISTRATION DOCUMENT 2019 French Universal Registration Document for Casino, Guichard-Perrachon, was filed with the “Autorité des Marchés.
Board of Directors' press release Paris, April 27th, 2020, The Board of Directors of Casino Guichard-Perrachon, meeting on 27 April 2020 under the.
Consolidated net sales at €8.3bn, up +7.9% on an organic basis1 and +6.4% on a same-store basis1, including the impact on food consumption of the Covid-19 epidemic since.
RELEASE OF THE 2019 ANNUAL FINANCIAL REPORT AND THE PRESENTATION TRANSCRIPT The Group has released its 2019 annual financial.
In addition to the press release published today on the 2019 results, the Group wishes to inform the market of the following additional information, related to the impact of the Covid-19 pandemic on its current activity and its 2020-2021 objectives. - A substantial increase in activity at Cdiscount, concerning both the new food offer deployed to meet customer demand and non-food everyday products.
RELEASE OF THE FULL YEAR 2019 EARNINGS PRESENTATION The Group has released its full-year 2019 earnings presentation on its website. It is available following this link:.
2019 FULL YEAR RESULTS Consolidated trading profit of €1,292m, up +5.5% at constant exchange rates (excluding tax credits) In France, Retail trading margin of 3.8% (+0.5pt.
Casino Group has signed an agreement with Aldi France for the sale of Leader Price stores and warehouses in mainland France, for 735 million euros Paris, March.
Paris, 2nd March 2020, Casino, Guichard-Perrachon has been informed by its reference shareholder, Rallye, that on 28 February the Paris Commercial Court approved the.
Vesa Equity Investment strengthens its position and announces that it has exceeded the threshold of 5% of the share capital of Casino, Guichard-Perrachon to reach 5.64% of.
2019 NET SALES Full-year 2019 net sales of €34.6bn1, up +4.2%2 organically and +2.2%2 on a same-store basisQ4 2019 net sales of €9.2bn1, up +3.6%2 on an organic basis and.
Yesterday, Casino Group completed its refinancing plan announced on 22 October that strengthens its liquidity and financial structure. The extension of the confirmed credit lines into the new €2bn RCF brings the amount of the Group’s undrawn confirmed credit lines in France to €2.3bn.
Following the press release issued on 7 November, Casino announced the signing of a new €2.0bn revolving credit facility, maturing in October 2023 as part of its refinancing plan presented on 22 October. Casino, Casino Finance and Monoprix are the three borrowers under this facility. The amount of the existing Casino and Monoprix revolving syndicated facilities (currently €2.25bn), maturing in 2021 and 2022, will be reduced by the amounts extended into the new revolving credit facility.
Casino announces the results of the bond tender offer launched on 5 November, in the context of its refinancing plan; a total amount of c.€784m has been tendered, respectively €239m, €253m and €292m of the bonds maturing in March 2020, May 2021 and June 2022. The settlement of the tender offer is expected on 20 November. Taking into account the tender prices and the accrued coupons, the total cash-out will be €806m for Casino.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. In the context of its refinancing plan announced on 22nd October, the Casino Group announces the successful syndication of a €1,000m term loan B and placement of a €800m secured high yield bond, both maturing in January 2024. This reflects the large oversubscription of these instruments by investors.
In this context, the existing Casino and Monoprix syndicated lines, maturing in 2021 and 2022, for an existing amount of €2.25Bn, will be reduced by the amounts extended into the new revolving credit facility. The existing Casino and Monoprix bilateral lines, for a total amount of €0.64Bn, will be cancelled. This new revolving credit facility will be signed soon.
This tender offer will be conditional to the new financings (Term Loan B and secured bond, respectively launched on October 23th and 30th). Based on a €1.5bn target for the new financings, the tender offer is expected to amount to €700m*. As part of this offer, Casino will accept all the 2020 notes tendered and will allocate the remaining amount of the tender between the 2021 and 2022 bonds.
In addition to the information contained in our press release of 17 October 2019, the Group specifies that, during the third quarter of 2019, it continued to implement the action plans in France previously announced, in particular the cost reduction plan, the rationalization of the store network and the development of its new activities. The evolution of net financial debt in France (France retail and e-commerce) between the end of June and the end of September is in line with the seasonality observed historically over the last three years. The Group continued to implement its initiatives to improve cash flow generation and accelerate debt reduction.