In 2014, Casino remains in the green. The French retailer has registered that year normalized net profit of 556 million euros, down 10.1%, according to results released Tuesday, 17 February. The turnover stood at 48.49 billion euros, down 0.3%.
stable operating margin
The current operating income (OCR) is almost stable at 2.231 billion euros against 2.28 billion last year, almost in line with forecasts of analysts, who located the 2.24 billion euros. The operating margin is almost stable on a reported 4.6% against 4.7% and increased by 7 basis points in organic (that is to say, using the means of production, research, distribution, created through human, financial enterprise).
In France, the ROC nevertheless displays sharp decline of 28.1% in organic terms, to 396 million euros.
A net profit down 3.9% excluding currency effects
The 2014 results of the group suffered from currency effects (financial impact of currency fluctuations relative to another). Without taking these into account, the net profit in 2014 was down by only 3.9%, while revenue was up 4.7%.
Casino was also affected triggered by the price reduction policy for two years in France, which initially focused on Géant hypermarkets and which then intensified in 2014 to close to formats like Franprix and Leader Price.
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Internationally however, the group’s profitability grew strongly, driven by Latin America (+ 11.9% organic growth on food, + 35.7% in the non-food).
Casino believes in higher sales in France in 2015
“In 2015, the group is confident about its growth prospects” , said Jean-Charles Naouri, Casino CEO said in the statement. For France, it expects an increase in sales of organic, and an operating profit (OCR) annual “higher than the previous year” , the statement said.
Internationally, it also aims “sustained organic growth in sales and growth in trading profit greater than the turnover” is added.
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