03/10/2016

2015 Full-Year Results

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FULL-YEAR RESULTS: FURTHER GROWTH IN 2015
Strong improvement in free cash flow
 Lower debt  
Continued investments in multiformat

 

Increase in net sales: €76.9bn, +3.0% on an organic basis
•    Faster growth in Europe, notably in Spain and Italy; all formats grew in France again this year
•    Excellent performance in Latin America in a more difficult environment

Growth in Recurring Operating Income: €2,445m, +7.0% at constant exchange rates, +11.5% proforma1
•    In Europe, all countries, including France, posted an increase in their operating margin. ROI in Europe was up almost 10%
•    Profitability in Emerging Markets continued to improve, illustrated by a sharp increase in ROI in Latin America (+23.5% at constant exchange rates)

Marked rise in adjusted net income, Group share: €1,113m, +7.1%

Improved financial structure; continued investments in multiformat and omnichannel transformation
•    Free Cash Flow excluding exceptional items of €951m, strongly up vs 2014
•    Net debt reduced by €408m, to €4.5bn
•    Sustained investments of €2.4bn in the modernization of our store network and multiformat expansion, with 1,123 store openings, of which 850 convenience stores
•    Integration of DIA stores in France and acquisition of Billa supermarkets in Romania
•    Digital ramp-up throughout the company and acquisition in France of Rue du Commerce


Proposed dividend: €0.70 per share, in cash or shares



 1 At constant exchange rates and excluding the integration of DIA, the increase of the Tascom tax on selling space and the transfer to Carmila of rental income from shopping malls

 

Download the press release 2015 Full-Year Results (pdf 745.89 KB) Download the 2015 Consolidated Financial Statements (pdf 1.38 MB) Download the 2015 Management's Discussion and Analysis (pdf 136.28 KB) Download the presentation 2015 Full-Year Results (pdf 1.26 MB)

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