Carrefour : 2022 preview – along the same lines as Q3, downtrading in France and Europe gaining a little more ground but not off the charts
>Q4 2022: +9.8% l-f-l in Q4 vs. 10.3% in Q3 2022 - Carrefour is due to report its Q4 and FY 2022 results on Tuesday 14 February after trading. We forecast sales growth of 17.0%e including 9.8% l-f-l, which is set to be slightly below Q3 (10.3%). The forex effect should be +1.9%e (BRL +25.9%e), the fuel effect 0.5%e and the calendar effect 0.0%e. For ROI, we forecast € 2.45bn (with Asia, or € 2.38bn excluding Asia, for which the deal will close in summer 2023).§hp...Carrefour is a distribution group based in France. Co. is engaged in retailing business, primarily in Europe (France, Belgium, Spain, Italy, Poland, and Romania); Asia (China, India, and Taiwan); and Latin America (Argentina and Brazil). Co. offers a variety of fresh produce, products from local suppliers and major-brand products. Co. operates Hypermarkets, Supermarkets, Convenience stores and Cash & Carry stores, as well as food and non-food e-commerce sites. Co. also offers services such as financial and insurance services, travel, entertainment, after-sales services, and leasing of commercial vehicles. As of Dec 31 2013 Co. operated 10,105 stores under its brand.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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