Colruyt FY24/25 results in line, reaches agreement for most of its French stores
Despite only being expected after market, Colruyt already published its FY24/25 results this morning. Overall, the FY24/25 results were in line with our expectations after the group issued a profit warning early May. In FY24/25, group sales increased 1.1% but declined 0.4% on a comparable basis to € 10963m (kbcse: € 10999m) while the EBIT decreased by 5.0% to € 446m (kbcse: € 448m). Additionally, the group announced that it has reached an agreement to sell 81 of French stores for a cash consideration of € 215m. For FY25/26, the group aims to keep the EBIT stable, or below kbcse +5.6% as competition remains fierce. Hold € 40.0 TP.Etablissements FR Colruyt is engaged in wholesale, food service, distribution of fuels, production of electricity and digital printing. Co. has three operating segments: retail, which relates to stores under Co.'s own management which directly sell to retail customers and bulk consumers; wholesale and foodservice, which supplies to wholesalers, commercial customers and affiliated independent merchants; and other activities, which operates gas stations, engaged in printing and document management and provides alternative energy.
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