apresentação do powerpoint - carrefour ri...ceo and executive director of clients, services and...
Post on 27-Jun-2020
1 Views
Preview:
TRANSCRIPT
1
Q3 RESULTS November 08, 2018
2
INTRODUCTION
Noël Prioux
Grupo Carrefour Brasil CEO
3
Q3 2018: ACCELERATING PERFORMANCE, WITH SOLID SALES AND SHARPLY IMPROVED PROFITABILITY IN ALL BUSINESSES
(1) Adjusted for other income and expenses such as restructuring costs, asset write offs, capital gains and losses as well as income and expenses related to past events and contingencies. In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21. (2) Net Debt calculation includes R$1.5 billion of discounted receivables
GROSS SALES INC. PETROL
ADJ. NET INCOME(1) GROUP SHARE
ADJUSTED
EBITDA(1)
NET DEBT AND
LEVERAGE(2)
R$14.0bn
+8.1%
R$40.5bn
+6.6%
R$991mn
+32.6%
7.8% EBITDA margin
+144bps
R$2,768mn
+15.5%
7.5% EBITDA margin
+60bps
R$391mn
+67.6%
3.1% Net Margin
R$2.3bn
R$1,124mn
+40.0%
3.0% Net Margin
Q3
20
18
9
M 2
01
8
0.59x Net Debt/LTM
Adj.EBITDA
0.18x Net Debt/Equity
4
OMNICHANNEL AND SERVICES
To allow customer to buy where and
when they want
EDUCATION & TRUST
To win the trust of the client guaranteeing quality and providing day-to-day tips
AFFORDABLE PRICES
Healthy products at a low prices
QUALITY PRODUCTS Good for the planet
Healthy food Tasty food
A new positioning:
Everyone deserves the best with 4 pillars to support our food transition ambition
Launch date October 1st, 2018
5
Sabor and Qualidade was relaunched in Q2 and products are now available in all of the
Carrefour hypermarkets as part of our “Filiéres Qualité” strategy
Penetration in fresh products already reached 6% of sales by Sept.18
Target of 10% by 2022
Dedicated in-store organic areas developed in a few hypermarkets. Target to complete roll-
out to all stores by June 2019
Average 75% sales increase of organic products in stores where dedicated areas have been
implemented
~1,500 SKUs of healthy products developed in partnership with suppliers
A SERIES OF CONCRETE ACTIONS IN 2018 TO PROMOMTE THE FOOD TRANSITION
> 1.8000 SKUs
Share of 8% in food sales in Sept.18 and target of 15% by 2022
Imported items to leverage from Carrefour brand
6
E-MÍDIA: A FOODTECH ACQUISITION
ABOUT CYBER COOK:
One of the most relevant online culinary and gastronomy communities in Brazil
Integration between Cyber Cook content and Carrefou’s food e-commerce
Portal with 4 million visitors/month
>100,000 recipes
OBJECTIVES:
To develop services focused on healthy food habits and well-being with innovative investments to offer omnichannel solutions, aiming to simplify the overall customer experience
Develop tools to help consumers plan and shop for meals and products mentioned in Cyber Cook
recipes using our e-commerce.
Greater efficiency in data management and practical use of artificial intelligence tools
7
Sébastien Durchon
Grupo Carrefour Brasil CFO
Consolidated Financial Performance
8
+5.1% +5.1% -0.9%
LfL
ex-petrol
Petrol LfL
inc. petrol
Calendar Expansion Total gross
sales inc. petrol
Q3 SALES: STRONG 8.1% GROWTH, IMPROVING PERFORMANCE IN ALL FORMATS AND GROWING CONTRIBUTION FROM EXPANSION
IPCA FOOD AT HOME (IBGE)
+8.1% +4.0%
+3.0% +0.1% +3.1% -0.3%
LfL
ex-petrol
Petrol LfL
inc. petrol
Calendar Expansion Total gross
sales inc. petrol
+6.6% +3.8%
Q3 2018
9M 2018
Q3 Sales growth results from a combination of:
• accelerating LfL in all formats
• strong expansion at Atacadão
• rapid e-commerce growth
E-commerce GMV grew by 106% and accounted for 7.0% of sales, including petrol, in Q3 vs 3.0% in Q3 2017
SWING TO FOOD INFLATION IN Q3 6.5%
4.3%
3.0%2.5%
1.1%
-0.6%
-3.1%
-5.2% -5.3% -5.1% -5.3%-4.9%
-3.9% -3.8%-4.3%
-4.7%
-3.8%
0.1% 0.3%
1.5%
2.2%
3.3%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2017 2018
4.6%
1.0%
-4.5% -5.1%-4.0% -2.8%
1.3%
9
Q3 AND 9M: 67.6% and 40.0% GROWTH IN NET INCOME ON SOLID OPERATING PERFORMANCE AND LOWER FINANCIAL EXPENSES
Gross margin expansion driven by Atacadão and Banco CSF gross profit increase;
Continued expense reduction efforts across businesses, in particular at Carrefour Retail;
Strong improvement in EBITDA margin from higher gross margin and enhanced operating leverage;
Drop in net financial results from lower interest rates and debt level.
(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. (**) As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21.
(in R$ million)
QUARTER 9 MONTHS
Q3 18 Q3 17 ∆% 9M 18 9M 17 ∆%
Net Sales 12,738 11,786 8.1% 36,901 34,715 6.3%
Gross Profit(*) 2,772 2,456 12.9% 7,991 7,410 7.8%
Gross Margin(*) 21.8% 20.8% +93bps 21.7% 21.3% +36bps
SG&A Expenses (1,788) (1,715) 4.3% (5,243) (5,030) 4.2%
SG&A of Net Sales 14.0% 14.6% -51bps 14.2% 14.5% -28bps
Adjusted EBITDA(*) 991 747 32.6% 2,768 2,397 15.5%
Adj. EBITDA Margin(*) 7.8% 6.3% +144bps 7.5% 6.9% +60bps
Net Financial Result(**) (120) (168) -28.7% (258) (595) -56.6%
Net Income, Group Share(**) 391 233 67.6% 1,124 803 40.0%
Net Margin 3.1% 2.0% +109bps 3.0% 2.3% +73bps
10
Roberto Müssnich – Atacadão CEO
José Luis Gutierrez – Carrefour Retail CEO
Paula Cardoso – Carrefour Soluções Financeiras
CEO and Executive Director of Clients, Services and
Digital Transformation
Business Units Presentation
11
ATACADÃO: DOUBLE-DIGIT GROWTH IN SALES AND PROFITABILITY, RAPID EXPANSION
SALES PERFORMANCE
533 646
6.9%
7.5%
Q3 2017 Q3 2018
(R$M and % of Net Sales)
ADJUSTED EBITDA*
+21,2% 1,153 1,335
14.9%
15.5%
Q3 2017 Q3 2018
GROSS PROFIT*
+15.8%
(R$M and % of Net Sales)
+59bps
+61bps
LfL sales growth accelerated quarter after quarter this year, attesting to the strength of Atacadão’s commercial model;
EBITDA growth outpacing sales growth in Q3, resulting in margin expansion (7.5% adjusted EBITDA margin, +61bps);
Atacadão is delivering profitable growth despite fast pace of expansion: New stores accounted for 6.0% sales growth in Q3 (vs 5.1% in Q2 and 4.3% in Q1), with openings evenly spread over the year.
4.9% 5.4% 5.5% 5.5% 4.3% 5.1%
6.0%
6.3% 4.9%
1.6% 2.2%
0.5%
4.5%
6.2%
9.9% 9.7%
5.6% 7.0%
5.7%
8.4%
11.2%
Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18
Expansion LfL
(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6-months ICMS-ST tax credits booked in Q3 and related to H1 2017. For Atacadão the reduction was of R$ 75
million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Accumulated 9 months numbers
are fully comparable.
12
CARREFOUR RETAIL: BEST LFL PERFORMANCE SINCE Q1 2017 AND IMPROVED PROFITABILITY
SALES PERFORMANCE
140 185
3.4%
4.5%
Q3 2017 Q3 2018
(R$M and % of Net Sales)
ADJUSTED EBITDA*
+32.7%
1,004 1,027
24.8%
24.9%
Q3 2017 Q3 2018
GROSS PROFIT*
+2.3%
(R$M and % of Net Sales)
+11bps +105bps
Carrefour Retail sales growth driven by an improving trend in hypermarkets and strong performance in e-commerce;
First quarterly gross margin improvement since Q2 2017 thanks to better gross margin in 1P e-commerce, greater contribution of 3P and end of food deflation
Strong double-digit growth in adjusted EBITA from ongoing cost savings, with distribution costs down 2.5% to 20.5% of net sales (vs. 21.5% of net sales in Q3 2017) and better gross margin
3.0%
1.5%
-0.3%
-1.0%
0.1%
2.1%
3.0%
Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18
LfL
(869) (847)
21.5%
20.5%
Q3 2017 Q3 2018
(R$M and % of Net Sales)
SG&A EXPENSES
-2.5%
-91bps
(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6-months ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax
credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017,
retroactively to January 1rst. Accumulated 9 months numbers are fully comparable.
13
E-COMMERCE: FASTEST GROWING SEGMENT WITHIN CARREFOUR RETAIL
Carrefour GMV growth +106%
Orders +66%
Visits +61%
~32 milhões
Average Ticket +14%
Marketplace SKUs ~1 Million
Marketplace Penetration
16% of GMV
Market growth (E-BIT) +8%
Marketplace Sellers ~1,000
14
DATA AND ANALYTICS
DIGITAL TRANSFORMATION INITIATIVES AT CARREFOUR
DIGITAL EXPERIENCE
OMNICHANNEL ONE CARREFOUR
Click & Collect rolled out in hypermarkets, with NPS>70% ~10% of electronics sales in stores and ~25% of 1P smartphone sales +1 store with Drive in 3Q, reaching 10 stores by 2018-end, with NPS >70% and 40% of recurring orders
~9.8 MM registered clients
68% of sales are identified Frequency and average spending are 47% and 73% higher in registered clients, respectively, than in identified clients only
24% of our clients are omnichannel Single management of customer service (chatbot and AI) – nov/18 Single strategy for social networks, with anticipation of customer response to an average of 4 hours
One single telephone line access to access customer service
Partnership with Google Pilot with beacons with app push alerts in-store
Pilot of LIA in 3 stores – online view of store price and availability Omnichannel communication
Carrefour card available for Samsung Pay and Google Pay
Carrefour Stores already accept all digital wallets
First pilot of Carrefour Pay in a Carrefour Express store
Roll-out of self check-out for all our gas stations
PAYMENTS $
15
4,424 4,846
12,813 14,026
414 1,496
548
4,013
92 93
289
269
4,930 6,434
13,651
18,309
Q3 2017 Q3 2018 9M 2017 9M 2018
Carrefour Credit Card Billings Atacadão Credit Card Billings Other Products
CSF: IMPRESSIVE EBITDA GROWTH, ATACADÃO CARD REACHES BREAK-EVEN IN Q3
Quality of loan portfolio continued to improve.
Adjusted EBITDA in 9M already surpassing 2017 full-year EBITDA of R$557 million
Atacadão credit card has reached break-even, ahead of schedule and accounts for 10%
of Atacadão sales with 1.4 million cardholders at end-September.
ADJUSTED EBITDA
(R$M)
CREDIT PORTFOLIO, Comparable basis (Quarter-End)
(R$M)
ACTIVITY (Carrefour and Atacadão Credit Card Billings)
(R$M)
+30.5%
+34.1%
106 192
389
622
Q3 2017 Q3 2018 9M 2017 9M 2018
+81.2%
+59.9%
3,747
4,6555,047
5,614
6,887
6,265
7,420
432676
845 800 897
1,6251,795
10.8%
13.2%14.7%
11.1% 10.5%
19.7%
16.4%14.4%
18.1%18.9%
14.0% 13.4%
22.9%
19.8%
3Q14* 3Q15* 3Q16* 3Q17* 3Q18* 3Q17** 3Q18**
Outstanding Total Provision % Over 90 % Over 30
24%
8%11%
23%18%
11.5%CoverageRatio
24.2%25.9%13.0%14.2%16.8%14.5%
* IFRS previous methodology ** Considering
16
CLOSING REMARKS
Sébastien Durchon
Grupo Carrefour Brasil CFO
17
SALES GROWTH¹ (R$bn) ADJUSTED EBITDA² (R$ million and % of net sales)
0.5%
3.6%
5.1% 3.6%
3.9%
4.0%
6.0%
5.5%
8.1%
1Q18 2Q18 3Q18
LFL Expansion
1 – Sum difference is due to calendar and maintenance effect; 2 – In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6-months ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 millionin gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Accumulated 9 months numbers are fully comparable.
CONSISTENT ACCELERATION IN SALES AND EBITDA THROUGHOUT THE YEAR
843 934
991
1Q18 2Q18 3Q18
7.1% 7.6% 7.8%
6.1% 7.2% 7.5%
4.3% 3.9%
4.5%
Consolidated Atacadão Carrefour Retail
18
SOLID PERFORMANCE ALLOWS FOR ANTICIPATED PAYMENT OF PART OF 2018 DIVIDEND
Total Amount:
R$380 million R$0.19 per share Interest on Equity (IOE)
Shares will trade ex-IOE:
November 13th
Payment date:
December 12th
19
APPENDIX
20
OPERATING HIGHLIGHTS Q3 2018 RESULTS*
(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. (**) As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21.
In R$ million Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆%
Gross sales 13,968 12,918 8.1% 9,467 8,513 11.2% 4,501 4,405 2.2%
Gross sales ex petrol 13,256 12,242 8.3% 9,467 8,513 11.2% 3,789 3,729 1.6%
Net sales 12,738 11,786 8.1% 8,614 7,735 11.4% 4,124 4,051 1.8%
Other revenues 747 600 24.5% 33 30 9.6% 95 96 -1.3% 619 475 30.3%
Total Revenues 13,485 12,386 8.9% 8,647 7,765 11.4% 4,219 4,147 1.7% 619 475 30.3%
Gross profit 2,772 2,456 12.9% 1,335 1,153 15.8% 1,027 1,004 2.3% 410 299 37.2%
Gross Margin 21.8% 20.8% +93 bps 15.5% 14.9% +59 bps 24.9% 24.8% +11 bps
SG&A Expenses (1,788) (1,715) 4.3% (691) (622) 11.1% (847) (869) -2.5% (218) (193) 13.1% (32) (30) 6.7%
SG&A of Net Sales 14.0% 14.6% -51 bps 8.0% 8.0% -2 bps 20.5% 21.5% -91 bps
Adj. EBITDA 991 747 32.6% 646 533 21.2% 185 140 32.7% 192 106 81.2% (32) (30) 6.7%
Adj. EBITDA Margin 7.8% 6.3% +144 bps 7.5% 6.9% +61 bps 4.5% 3.4% +105 bps
D&A (188) (168) 11.8% (80) (68) 17.0% (102) (94) 9.0% (5) (6) -9.8%
Adj. Net Income, Group share (**) 391 233 67.6%
Adj. Net Income Margin (**) 3.1% 2.0% +109 bps
CONSOLIDATED ATACADÃO CARREFOUR RETAIL CSF GLOBAL FUNCTIONS
21
OPERATING HIGHLIGHTS 9M 2018 RESULTS*
(*) As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21.
In R$ million 9M 18 9M 17 ∆% 9M 18 9M 17 ∆% 9M 18 9M 17 ∆% 9M 18 9M 17 ∆% 9M 18 9M 17 ∆%
Gross sales 40,523 38,025 6.6% 26,882 24,778 8.5% 13,641 13,247 3.0%
Gross sales ex petrol 38,394 36,024 6.6% 26,882 24,778 8.5% 11,512 11,245 2.4%
Net sales 36,901 34,715 6.3% 24,424 22,525 8.4% 12,477 12,190 2.4%
Other revenues 2,188 1,848 18.4% 101 67 50.9% 280 264 6.0% 1,807 1,518 19.1%
Total Revenues 39,089 36,563 6.9% 24,525 22,592 8.6% 12,757 12,454 2.4% 1,807 1,518 19.1%
Gross profit 7,991 7,410 7.8% 3,716 3,348 11.0% 3,053 3,139 -2.7% 1,222 924 32.3%
Gross Margin 21.7% 21.3% +36 bps 15.2% 14.9% +31 bps 24.5% 25.8% -133 bps
SG&A Expenses (5,243) (5,030) 4.2% (2,016) (1,846) 9.2% (2,537) (2,562) -1.0% (600) (535) 12.2% (90) (87) 3.6%
SG&A of Net Sales 14.2% 14.5% -28 bps 8.3% 8.2% +6 bps 20.3% 21.0% -68 bps
Adj. EBITDA 2,768 2,397 15.5% 1,706 1,506 13.3% 530 591 -10.2% 622 389 59.9% (90) (87) 3.6%
Adj. EBITDA Margin 7.5% 6.9% +60 bps 7.0% 6.7% +28 bps 4.3% 4.8% -55 bps
D&A (552) (487) 13.3% (230) (195) 17.8% (306) (277) 10.6% (16) (16) 0.0%
Adj. Net Income, Group share (**) 1,124 803 40.0%
Adj. Net Income Margin (**) 3.0% 2.3% +73 bps
CONSOLIDATED ATACADÃO CARREFOUR RETAIL CSF GLOBAL FUNCTIONS
22
RECONCILIATION ADJUSTED EBITDA
In order to make Q3 2017 EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. The adjustment of such tax credits was a decrease of R$ 97 million in EBITDA, respectively. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. There is also the adjustment for other operating income and expenses and their respective income tax impacts.
In R$ mi l l ion Q3 18 Q3 17 ∆ 9M 18 9M 17 ∆
Net income 392 581 -32.5% 1,164 1,079 7.9%
(+) Income tax and social contribution 225 322 -30.3% 620 530 16.9%
(+) Net financial results 120 168 -28.8% 258 595 -56.7%
(+) Depreciation and amortization 188 168 12.0% 552 487 13.4%
(+) Supply chain depreciation and amortization 7 6 15.2% 20 17 14.9%
(=) EBITDA 932 1,245 -25.1% 2,614 2,708 -3.5%
(+/-) Other (income) expenses 59 (401) -114.7% 154 (312) -149.4%
(=) Adjusted EBITDA as reported 991 845 17.3% 2,768 2,397 15.5%
(+/-) Recurring Tax credits from H1 2017 0 (97) n.m. 0 0 n.m.
(=) Adjusted EBITDA 991 747 32.6% 2,768 2,397 15.5%
23
NET ADJUSTED INCOME, GROUP SHARE, RECONCILIATION
(* ) Tax credits totaled R$97 million in Q3: R$75 million at Atacadão and R$22 million at Carrefour
Q3 2018 net income, Group share, adjusted for the six-months additional gain of non-recurring ICMS-ST in Q3 17, These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017. The net income adjusted is also adjusted for other operating income and expenses and their respective income tax impacts
In R$ million Q3 18 Q3 17 ∆ 9M 18 9M 17 ∆
Net profit, group share 355 562 -36.8% 1,024 1,002 2.2%
(-) Tax credits from previous quarters - (97) n.m. - - n.m.
(-) Other income (expenses) 59 (401) n.m. 154 (312) n.m.
(-) Actualization on other income
(expenses) items(7) 0 n.m. (7) 0 n.m.
(-) Tax income on on other income
(expenses) items(16) 170 n.m. (47) 113 n.m.
Net profit, Group share, adjusted 391 233 67.6% 1,124 803 40.0%
Net margin 3.1% 2.0% 3.0% 2.3%
24
DISCLAIMER
This document contains both historical and forward-looking statements on expectations and projections about operational and financial results of the Company. These forward-looking statements are based on Carrefour management's current views and assumptions. Such statements are not guarantees of future performance. Actual results or performances may differ materially from those in such forward-looking statements as a result of a number of risks and uncertainties, including but not limited to the risks described in the documents filed with the CVM (Brazilian Securities Commission) in particular the Reference Form. The Company does not assume any obligation to update or revise any of these forward-looking statements in the future.
IR Contact Sébastien Durchon Daniela Bretthauer Letícia Montagnani CFO and Director of Investor Relations Investor Relations Director Investor Relations Coordinator Telephone: +55 11 3779-8500 ribrazil@carrefour.com www.grupocarrefourbrasil.com.br
About Grupo Carrefour Brasil Grupo Carrefour Brasil has been present in Brazil for over 40 years and is the market leader in food distribution and retail. By operating a multiformat and omnichannel platform, it combines retail and cash & carry operations, as well as financial solutions for its clients through Banco Carrefour. We also manage our real estate and portfolio of galleries and shopping centers through our real estate division - Carrefour Property. The Group is present in every state of Brazil, which allows us to meet the different needs of its millions of customers across the country. In 2017, we reinforced our e-commerce presence with the launch of a marketplace platform of and a proprietary e-commerce food operation via our website www.carrefour.com.br. In traditional retail, we operate with several formats of stores: Carrefour (hypermarket), Carrefour Bairro and Carrefour Market (supermarket), Carrefour Express (convenience store) and Atacadão (cash & carry and delivery wholesale) as well as Supeco (compact wholesale cash&carry). Additionally, we offer complementary services to our food distribution business with gas stations and drugstores services branded as Carrefour and Atacadão. We are the largest retailer in Brazil and operate more than 638 points of sale. With gross sales of R$ 52.4 billion in 2017 and more than 82,000 employees, the company is one of the largest private employers in the country and the largest retailer among the 20 largest listed companies at the B3 - Brazilian Stock Exchange.
top related