Carrefour SA

CA

Equity

ISIN FR0000120172 / Valor 488167

Euronext - Euronext Paris (2026-08-25)

EUR 15.89-1.03%

Carrefour SA
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About company

Carrefour SA is a French multinational retail group that operates a network of hypermarkets, supermarkets, convenience stores and e-commerce platforms, offering food and non‑food merchandise to consumers across multiple countries, primarily in Europe and Latin America. The company combines company‑owned and franchised formats — including large hypermarkets, neighborhood supermarkets and smaller convenience banners — alongside a cash‑and‑carry/wholesale arm in Brazil (Atacadão), private‑label lines, online grocery, click‑and‑collect and home‑delivery services. Its revenues derive mainly from in‑store and online product sales, complemented by ancillary services such as fuel stations, financial products and loyalty programs, with operations focused on merchandising, supply‑chain management and omnichannel integration to compete with both global and local retailers.

Summarized from source with an LLMView SourceSector: Consumer Services

Top-line and Q4 trend

Group sales (incl. VAT) rose +9.9% LFL for 2024; Q4 like‑for‑like sales were +7.1%. E‑commerce GMV reached €5.9bn in 2024 (+18% year‑on‑year) and grew +15% in Q4.

Profitability

EBITDA: €4,637m (+€79m, +1.7% reported; +4.4% at constant FX). Recurring Operating Income: €2,213m (-2.2% reported versus 2023 but +1.4% excl. currency effects). Recurring operating margin was 2.6% for 2024 (‑13bps vs. 2023).

Country performance — France

France: LFL sales down (‑2.3% FY, ‑2.1% in Q4) due to price investments, but ROI increased to €1,042m (+5.5%) and operating margin edged up to 2.6% (+5bps). Franchise/convenience expansion continued (454 franchise convenience openings in 2024).

Country performance — Latin America

Latin America showed strong momentum: FY LFL +38.1% and Q4 LFL +25.6%. Brazil Q4 LFL +6.0%; Brazil ROI rose sharply (+23.4% at constant FX for the year) with operating margin improving to 4.1%.

Cash flow, debt and capital allocation

Net Free Cash Flow: €1,457m (in line with the Carrefour 2026 trajectory). Net financial debt increased to €3,780m at 31‑Dec‑2024, largely reflecting the ~€1.2bn acquisition of Cora & Match. Share buybacks of €705m were executed in 2024.

Dividends and returns

The Board proposes an ordinary dividend of €0.92 per share (+6% vs. 2023) and a special dividend of €150m (€0.23/share), both subject to AGM approval (detachment May 30, 2025; payment June 3, 2025).

Cost savings and efficiency

Carrefour delivered €1,240m of cost savings in 2024 (in line with targets) and plans a new €1.2bn cost savings program to finance further price investments in 2025.

Reported vs. adjusted earnings

Reported net income, Group share, fell to €723m (from €1,659m in 2023) reflecting higher net financial expenses and one‑offs; adjusted net income, Group share, was €1,081m (adjusted EPS €1.61).

Strategic moves and ESG

Management launched a strategic portfolio review and an offer to acquire minority stakes in Carrefour Brazil to move to full ownership. CSR: Carrefour reached 111% of its CSR & Food Transition index in 2024 and reported a 48% reduction in store GHG emissions (Scopes 1&2) vs. 2019.

Summarized from source with an LLMView Source

Key figures

23.0%1Y

-12.7%3Y

-5.78%5Y

Performance

22.6%1Y

23.0%3Y

24.0%5Y

Volatility