Carrefour Financial Report
Financial Report 2011
Financial Report 2011
Financial Report 2011 -
1
2
Financial Report 2011 -
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Consolidated Financial Statements
Management’s discussion and analysis year ended December 31, 2011 Consolidated Financial Statements year ended December 31, 2011 Notes Statutory Auditors’ report on the Consolidated Financial Statements 4 19 25 108
Financial Report 2011 -
3
1
Consolidated Financial Statements
Management’s discussion and analysis year ended December 31, 2011
Management’s discussion and analysis year ended December 31, 2011
This is a free translation into English of the Carrefour Group’s financial report for 2011 which is issued in the French langague, and is provided solely for the convenience of English speaking users.
Sales and earnings performance
MAIN EARNINGS INDICATORS
(in millions of euros)
2011
81,271 2,182 (2,662) (757) (1,002) (2,002) 2,573 371
2010
80,511 2,701 (999) (648) (610) 340 93 433
% change
0.9% (19.2)% 166.6% 16.9% 64.3% na na (14.3)%
Net sales Recurring operating income Non-recurring income and expenses, net Finance costs and other financial income and expenses, net Income tax expense Net (loss)/income from continuing operations – Group share Net income from discontinued operations – Group share Net income – Group share
The Group’s 2011 performance was shaped by a challenging economic environment in mature markets, especially southern Europe, and continued growth in emerging markets, particularly South America:
• the net loss from continuing operations – Group share came to
2,202 million euros;
• net income from discontinued operations amounted to
2,573 million euros, reflecting capital gains on the distribution of Dia shares and the sale of operations in Thailand;
• sales rose by 0.9% as reported, led by the emerging markets; • recurring operating income contracted by 19.2% to 2,182 million euros, mainly due to a decline in margins on operations in France
Financial Report 2011
Financial Report 2011 -
1
2
Financial Report 2011 -
1
Consolidated Financial Statements
Management’s discussion and analysis year ended December 31, 2011 Consolidated Financial Statements year ended December 31, 2011 Notes Statutory Auditors’ report on the Consolidated Financial Statements 4 19 25 108
Financial Report 2011 -
3
1
Consolidated Financial Statements
Management’s discussion and analysis year ended December 31, 2011
Management’s discussion and analysis year ended December 31, 2011
This is a free translation into English of the Carrefour Group’s financial report for 2011 which is issued in the French langague, and is provided solely for the convenience of English speaking users.
Sales and earnings performance
MAIN EARNINGS INDICATORS
(in millions of euros)
2011
81,271 2,182 (2,662) (757) (1,002) (2,002) 2,573 371
2010
80,511 2,701 (999) (648) (610) 340 93 433
% change
0.9% (19.2)% 166.6% 16.9% 64.3% na na (14.3)%
Net sales Recurring operating income Non-recurring income and expenses, net Finance costs and other financial income and expenses, net Income tax expense Net (loss)/income from continuing operations – Group share Net income from discontinued operations – Group share Net income – Group share
The Group’s 2011 performance was shaped by a challenging economic environment in mature markets, especially southern Europe, and continued growth in emerging markets, particularly South America:
• the net loss from continuing operations – Group share came to
2,202 million euros;
• net income from discontinued operations amounted to
2,573 million euros, reflecting capital gains on the distribution of Dia shares and the sale of operations in Thailand;
• sales rose by 0.9% as reported, led by the emerging markets; • recurring operating income contracted by 19.2% to 2,182 million euros, mainly due to a decline in margins on operations in France