Second Quarter 200 Sales Up a Strong 14.% Sustained organic growth at.3%, both in France (4.2%) and in international markets (11.%) Excellent performance by Franprix/Leader Price Consolidated net sales Q2 200 ( m) H1 200 ( m) % Change QoQ % Change HoH Reported Organic * Reported Organic * Continuing operations,91.4,.2 14.%.3%.%.9% France 4,4. 9,011.0 4.2% 4.2% 4.% 4.% International 2,40. 4,02.1 41.1% 11.% 3.0%.3% *Based on constant scope of consolidation and exchange rates Consolidated net sales for the second quarter of 200 were up 14.% over the year-earlier period, reflecting sustained.3% organic growth and the full consolidation of Super de Boer (Netherlands) and Exito (Colombia). In France, the Group performed well, with sales up 4.2%. The lacklustre retail environment and the rise in gasoline prices accentuated the trends observed in the French market in recent months, with consumers continuing to show a marked preference for convenience and discount formats, as well as for private labels and value-line products. These market trends are in line with the Group s expectations and confirm the validity of its strategy. The Group s robust sales in France reflect its favourable format mix and the effectiveness of the sales and marketing strategies deployed by the banners. Franprix/Leader Price continued to recover strongly, with sales up 9.0% led by faster samestore growth at Franprix, same-store sales expanded.9% versus.% in the first quarter, while at Leader Price the growth rate rose to 4.9% from 1.3%. Casino supermarkets reported sales up by a robust 9.1%, consolidating their market share gains with a 0.1 point increase over the first six months of the year. Monoprix delivered a satisfactory performance, with sales up 2.%. The Casino brand went from strength to strength, with sales growth remaining in the double digits. Casino is the leading private label, measured as a percentage of total sales. Its success is attributable to competitive pricing and an assertive innovation policy. Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page 1/9
In international markets, organic growth remained robust at 11.%, reflecting gains of 12.% in South America and.4% in Southeast Asia. The increase in same-store sales was particularly high in South America. This performance confirmed the role as a growth driver of international operations, which now account for close to 3% of consolidated sales. * * * The Group confirms its objectives for full year 200: Faster organic growth in sales. Further growth in trading profit. First-half results will be published on 2 August 200 (before the stock market opens). Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page 2/9
FRANCE Sales in France rose 4.2% in the second quarter of 200. The difference in the number of selling days had a 0.% negative impact, compared to a 0.3% positive impact in the first quarter. Restated for the calendar effect, second quarter performance (up 4.9%) was in line with the first quarter (up %). in millions Second quarter 200 200 % Change First half 200 200 % Change Net sales, France 4,31.9 4,4. 4.2%,00. 9,011.0 4.% Franprix-Leader Price 9. 1,04.4 9.0% 1,9. 2,9..% Géant Casino hypermarkets Convenience stores 1,493. 1,49. -0.9% 2,941.3 2,941.9 0.0% 1,23.0 1,04.0.0% 3,.2 3,331.9.% Casino supermarkets Monoprix Superettes 91. 43.2 394.1 3. 44.1 392.1 9.1% 2.% -0.% 1,21. 3.9. 1,. 902. 1. 9.% 3.3% 0.% Other businesses 29. 2. 10.% 3. 9.4 10.9% Same-store sales Second quarter 200 First half 200 Including gasoline Excluding gasoline Including gasoline Excluding gasoline Franprix.9%.9%.9%.9% Leader Price 4.9% 4.9% 3.0% 3.0% Géant Casino hypermarkets 0.4% -3.0% 0.% -2.3% Casino supermarkets.1% 3.%.% 4.3% Monoprix 0.4% 0.3% 1.3% 1.3% Franprix/Leader Price Franprix/Leader Price recorded another good quarter, with sales up a solid 9.0%, confirming the sales recovery. Franprix reported another improvement in same-store performance, with sales up.9% versus.% in the first quarter, while at Leader Price same-store growth accelerated to 4.9% from 1.3%. At both banners, same-store growth was driven mainly by higher checkout flowthroughs, demonstrating the effectiveness of their marketing initiatives and the customer appeal of their concepts. Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page 3/9
Hypermarkets Géant Casino hypermarket sales rose 0.4% on a same-store basis. Excluding gasoline, sales contracted 3%. This was primarily due to a.% fall in non-food sales (compared with a.3% decline in the first quarter), as consumers reduced their spending on non-essential items in a lacklustre retail environment shaped by high energy prices. The 1.2% dip in food sales reflected the ongoing shift towards private-label products and the price investments made since the beginning of the year, both of which are in line with the banner's marketing strategy. Private-label and value-line items accounted for 44.% of FMCG and refrigerated product sales, an increase of four points for the quarter that was driven by continued double-digit growth in Casino brand sales. Deployment of the dunnhumby approach has enabled Géant Casino to continue enhancing its price competitiveness. Since the beginning of the year, the banner has offered the market s lowest prices on more than 2,00 national brand, private-label and value-line products, which together account for 42% of FMCG and refrigerated products sold in Géant Casino hypermarkets. Checkout flowthroughs declined by 2.4% in the second quarter (1.% based on the same number of selling days), representing an improvement compared with the 3.% fall observed in the first quarter. Convenience stores Supermarkets Casino supermarkets confirm their strong momentum, with same-store sales rising.1% or 3.% excluding gasoline. Growth was led by a 1.2% rise in checkout flowthroughs, in line with the trend observed in recent quarters, and a 2.3% increase in the average basket. The continued implementation of an assertive expansion strategy helped to drive a 9.1% increase in the banner's total sales. Thanks to the success of the sales strategy, the Casino supermarkets once again outperformed the market, increasing their share by 0.1 point compared with end-200. Monoprix Monoprix sales were up 2.% for the quarter, including 0.4% same-store growth. The banner's differentiated positioning, especially in textiles, helped to drive a satisfactory performance in the non-food segment despite the lacklustre market environment. Monoprix intends to continue expanding rapidly, in particular by deploying new concepts. During the period, four Monop' stores and one Daily Monop' were opened, and Monoprix announced the acquisition of Naturalia, one of the leading organic product retailers, thereby strengthening its presence in this fast-growing segment. Superettes Superette sales for the quarter dipped 0.%. Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page 4/9
Other Businesses Sales by the other businesses (Cdiscount, Mercialys, Casino Cafétéria and Banque Casino) rose 10.% in the second quarter, led by very strong 1% growth at Cdiscount. * * * Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page /9
INTERNATIONAL International sales surged by 41.1% over the quarter, led by the full consolidation of Exito as of 1 May 200 and of Super de Boer as of 1 January 200, which together accounted for 3.3 points of the increase. The currency effect was a negative.0%, due primarily to the decline in the Thai, Colombian and Venezuelan currencies against the euro. Organic growth was a very strong 11.%, reflecting double-digit increases in both South America and Asia. Consolidated net sales Reported change Organic growth Same-store sales Q2 200 H1 200 Q2 200 H1 200 Q2 200 H1 200 South America 2.9% 0.3% 12.% 1.% 9.4% 10.9% Asia -1.1% 2.%.4%.1% 4.% 4.% Indian Ocean 1.% 1.% 4.2% 3.% 3.% 3.3% In South America, organic growth was a robust 12.%, lifted by same-store growth of 9.4%. In Brazil, CBD reported a.3% increase in same-store sales in the quarter and.1% in the first half, reflecting satisfactory performances in both food and non-food. Operations in Argentina, Venezuela and Uruguay continued to deliver very high same-store growth. In Colombia, Exito continued to integrate Carulla Vivero and to leverage synergies, notably by pursuing the store conversion and banner rationalisation programme. Organic growth in Asia came to.4%, led by sustained expansion of the store base and a satisfactory 4.% increase in same-store sales. In Thailand, Big C stepped up its expansion programme, increasing the store base to 0 as of 30 June with five new hypermarkets opened during the quarter. In the Indian Ocean, organic growth was satisfactory at 4.2%, with same-store sales up 3.%. In the Netherlands, Super de Boer recorded same-store growth of 1.% in the second quarter, down from % in the first three months. This was due to the timing of the Easter holiday this year and to reduced promotional activity compared with the year-earlier period. Same-store growth for the first half of the year stood at 4.2%. Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page /9
Main changes in the scope of consolidation Exito (Colombia), which was previously accounted for by the equity method, has been fully consolidated since 1 May 200. Disco (Uruguay) has been proportionately consolidated on a 2.% basis since 1 August 200, versus % as from 1 October 200. Assai (Brazil) has been fully consolidated within CBD since 1 November 200. Super de Boer (Netherlands), which was previously accounted for by the equity method, has been fully consolidated since 1 January 200. 200 ( m) Q2 % Change H1 % Change 200 in 200 200 in ( m) Euros ( m) ( m) Euros At constant exchange rates At constant exchange rates FRANCE 4,31.9 4,4. 4.2% 4.2%,00. 9,011.0 4.% 4.% o/w: Franprix Leader Price 9. 1,04.4 9.0% 9.0% 1,9. 2,9..%.% Géant Casino 1,493. 1,49. -0.9% -0.9% 2,941.3 2,941.9 0.0% 0.0% Hypermarkets Convenience stores Casino supermarkets Monoprix Superettes 1,23.0 91. 43.2 394.1 1,04.0 3. 44.1 392.1.0% 9.1% 2.% -0.%.0% 9.1% 2.% -0.% 3,.2 1,21. 3.9. 3,331.9 1,. 902. 1..% 9.% 3.3% 0.%.% 9.% 3.3% 0.% Other 29. 2. 10.% 10.% 3. 9.4 10.9% 10.9% INTERNATIONAL 1,0.0 2,40. 41.1% 4.1% 2,94. 4,02.1 3.0%.3% o/w: South America 1,114.2 1,43. 2.9% 33.1% 1,93.0 2,3.9 0.3% 3.1% Asia 390.9 3. -1.1%.4% 1.9 3.2 2.%.1% Indian Ocean Netherlands 9. 203.2 3.9 1.% na 1.% na 401.0 40.4 4.0 1.% na 1.% na Other (Poland) 0.3 0.3 ns ns 0. 0. ns ns Net Sales continuing operations Net Sales discontinued operations,0.9,91.4 14.% 1.3% 11,4.2,.2.% 20.% 20. na. na na Consolidated sales,32.,91.4 na 12,11.,.2 na na Average exchange rates Q1, 200 Q1, 200 % Change H1, 200 H1, 200 % Change Argentina (ARS / EUR) 0. 0.2114-14.2% 0.3 0.202-14.% Uruguay (UYP / EUR) 0.0314 0.03 1.% 0.0312 0.0321 3.0% Venezuela (VEB / EUR) (x1,000) 0.3 0.3100-12.% 0.303 0.303 -.3% Thailand (THB / EUR) 0.022 0.021-4.4% 0.022 0.020 -.% Vietnam (VND/EUR) (x1,000) 0.042 0.041-10.2% 0.04 0.040 -.1% Colombia (COP / EUR) (x1,000) 0.343 0.3491 1.% 0.34 0.34 0.0% Brazil (R$ / EUR) 0.322 0.343.1% 0.31 0.34 4.% Investor Relations Nadine Coulm Aline Nguyen ncoulm@groupe-casino.fr anguyen@groupe-casino.fr +33 (0)1 3 4 1 +33 (0)1 3 4 Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page /9
France 31 Dec 0 31 March 0 30 June 0 Géant Casino hypermarkets Of which French Affiliates International Affiliates + Service stations 129 11 99 0 99 1 14 99 Casino supermarkets Of which French Franchise Affiliates International Franchise Affiliates + Service Stations 39 1 1 140 32 142 3 9 144 Franprix supermarkets Of which Franchis outlets 2 29 2 29 22 Monoprix-Prisunic supermarkets Of which Franchise outlets/affiliates Leader Price discount stores Of which Franchise outlets Total SM + DIS Of which Franchise outlets/stores operated under Business leases SUP Petit Casino Of which Franchise SUP Eco Services Of which Franchise 330 3 49 221 1,0 1 1,94 2 14 331 2 493 203 1, 30 1,931 2 10 9 33 2 03 203 1,93 1,92 3 9 SUP Spar Of which Franchise SUP Vival Of which Franchise 93 1 1,20 1,20 94 1 1,44 1,44 9 1 1, 1, SUP Casitalia et C Asia 22 MAG Franchisés Casino supermarkets Corners, Relay, Shell, Elf, Carmag 1,3 1,12 1, 1, 1,11 1,11 Wholesale activity TOTAL CONVENIENCE STORES Of which Franchise outlets/stores operated under Business leases Other Affiliates stores Of which France Affiliates International Affiliates Other businesses Imagica Cafétérias 411,040 3,9 100 9 2 2 21 2 4,09 3,9 100 9 2 2 20 2 4,14 4,03 100 9 2 22 23 TOTAL France,39,4,43 Hypermarkets (HM) Supermarkets (SM) Discount (DIS) Superettes (SUP) + other stores (MAG) Other 129 1,31 49,140 2 0 1,3 493, 2 1 1,390 03, 22 HM : hypermarkets SM : supermarkets DIS : discount SUP : superettes MAG : stores DIV : other LGA : stores opened under business leases Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page /9
International 31 Dec 0 31 March 0 30 June 0 ARGENTINA Libertad hypermarkets Leader Price discount stores Other businesses 2 2 2 2 3 2 URUGUAY Géant hypermarkets Disco supermarkets Devoto supermakets 2 1 2 2 1 2 2 1 2 VENEZUELA Exito hypermarkets Cada supermarkets Q precios discount stores 2 3 2 3 2 3 BRAZIL Extra hypermarkets Päo de Açucar supermarkets Sendas supermarkets Extra Perto supermarkets CompreBem supermarkets Assai discount stores Extra Facil supermarkets Eletro (other businesses) THAILAND Big C hypermarkets Leader Price discount stores 91 2 1 1 42 4 4 91 2 1 1 1 21 42 0 91 14 2 1 1 22 42 0 VIETNAM Big C hypermarkets INDIAN OCEAN Jumbo Hypermarkets Score/Jumbo supermarkets Cash and Carry supermarkets Spar supermarkets Other businesses COLOMBIA Exito hypermarkets Pomona and Carulla supermarkets Bodega discount stores Ley, Q Precios, Merquefacil, Surtimax and others 49 11 2 4 92 91 49 11 2 92 9 49 11 21 1 93 1 NETHERLANDS Konmar supermarkets Super de Boer supermarkets 31 31 3 3 311 311 TOTAL INTERNATIONAL 1,43 1,43 1,44 Hypermarkets (HM) Supermarkets (SM) Discount (DIS) Other businesses (DIV) 2 934 2 4 21 929 4 4 20 92 4 1 Saint-Etienne, 11 July 200 www.groupe-casino.fr Press Release - Page 9/9