Groupe Auchan

Groupe Auchan half year report has been released, and despite difficult economic conditions, revenue remained stable, excluding taxes, at 18.8 billion euros.

 

Revenue in France was 8.9 billion euros, 47% of the total group revenue. International activities growth continued to nearly 53% compared to 50% at the end of 2008, helped by sales growth in Central and Eastern Europe and in Asia. At constant exchange rates and excluding petrol, the Group's like for like sales remained virtually flat.

 

The net income ws affected by non-recurrent items including losses and impairment in relation to the Furshet supermarkets in the Ukraine, and a decrease in tax expense, with the new tax law in Italy. Net income from continuing operations came to 155 million euros. The group has three main operating regions: France, Western Europe, Central and Eastern Europe, and Asia.

 

Chairman of the Management Board, Christophe Dubrulle said, "The global crisis affected our performance to varying degrees depending on our four main businesses and 12 countries of operation. On the whole, however, the impact is in line with our forecasts of the past few months. Although we managed to keep revenue and EBITDA stable, and gain market share in our hypermarkets business in countries such as Poland, Spain and Italy, we cannot content ourselves for long with flat performances and a fall in income.

 

Backed by the continuing efforts of our 210,000 employees, stronger financial resources and sales policies adapted to our customers' expectations, we shall approach the second half with even greater attention to safeguarding our overall financial balances".

 

Group Auchan currently have 479 hypermarkets in 12 countries, 735 Supermarkets, 293 managed shopping centres and 6.2 million Banque Accord customers in 10 countries.