SOURCE: Carrefour SA

March 06, 2008 02:21 ET

2007 Objectives Achieved Ready for a Breakthrough Year in 2008

PARIS--(Marketwire - March 6, 2008) -


Net sales: + 6.8% to EUR 82bn
Activity Contribution before IFRS 2 restatement*: +3.3% to EUR 3,359m
Activity Contribution after IFRS 2 restatement* +3.4% to EUR 3,291m
Net income from recurring operations, Group share: + 0.7%
Dividend: fixed at 1.08 euros per share**

The Supervisory Board of Carrefour, which met on the 5th of March 2008, has examined the consolidated accounts for the year 2007 drawn up by the Management Board on 28 February 2008.

The Management Board has decided to propose to the Annual General Meeting a dividend of EUR 1.08 per share for the year 2007, representing a stable pay-out ratio of 40% compared to 2006. This dividend will be paid on the 23rd of April 2008.

                    Consolidated profit and loss account

(EUR m)                                                 2007   2006 Growth

                                                       ====== ====== =====
Net sales                                              82,148 76,887  +6.8%
                                                       ====== ====== =====
Activity Contribution bef. Dep. and Amortisation (ACDA) 5,014  4,740  +5.8%
                                                       ====== ====== =====
Activity Contribution before IFRS 2 reclassification*   3,359  3,252  +3.3%
                                                       ====== ====== =====
Activity Contribution after IFRS 2 reclassification*    3,291  3,183  +3.4%
                                                       ====== ====== =====
Net income from recurring operations Group Share        1,868  1,856  +0.7%
                                                       ====== ====== =====
Net income Group Share                                  2,299  2,269  +1.4%
                                                       ====== ====== =====

* Activity Contribution and ACDA have been restated to take into account
the evolution of the IFRS 2 treatment of stock options which will now be
treated as personnel costs and which before were treated as non-recurring
items.
** Subject to approval by the Annual General Meeting.

--  Full year results are in line with our targets
    

We achieved our objectives in 2007 in a fierce competitive environment in Europe and against the backdrop of deflation in France in the first three quarters of the year.

--  Sales ex VAT increased 6.8% at current exchange rates and by 7.0% on
    constant exchange rates, representing the third consecutive year of
    accelerating rates of sales growth
--  Activity Contribution increased 3.4%
    

We have reinforced the main elements of group strategy, focusing on customer satisfaction and profitable growth:

--  Our growth markets confirmed their role as a main engine for growth
    within the group:
    --  Our markets outside France, Spain, Italy et Belgium accounted for
        more than 25% of group sales in 2007 and 23% of Activity
        Contribution compared to 21% and 12% respectively in 2004

To view the full text of this press release, paste the following link into your web browser:

www.carrefour.com/english/homepage/index.jsp

Contact Information

  • Contact:
    Virginie Blin
    Tel No. - 33 1 55 63 39 16