Carrefour : The turning point is underway, we maintain our positive stance on the stock
>2018 results: decent despite France - As guided at the Q4 2018 sales publication, 2018 underlying EBIT came to € 1,938m (before IAS 29), -3.4% reported and -2.6% organic, with a stable consolidated margin at 2.55%. Post1eIAS 29, underlying EBIT was €1 905m (-5% reported).As expected, the operating performance in Latam (€ 800m in EBIT, +11.9% reported and +33.8% organic, margin +125bp to 5.71%) played an outsize role in the decent results of year 1 of the transfo...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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