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Carrefour Q1 LFL Sales Incl. VAT Up 4.2% - Quick Facts

Carrefour (CRERF.PK,CRRFY.PK,0NPH.L) reported first quarter sales including VAT of 18.56 billion euros, pre-IAS 29, an increase of 2.2% at constant exchange rates. After taking into account an unfavorable exchange rate effect of 6.7%, total sales at current exchange rates declined 4.5%. On a like-for-like basis, first quarter sales including VAT were up 4.2%. The Group noted that the impact of the application of IAS 29 was 13 million euros.

Carrefour said its Board has approved operations to buy back Carrefour shares, with a
view to their future cancellation, for a maximum amount of 500 million euros, or approximately 4% of the Group's market capitalization. Carrefour expects these transactions to take place by the end of 2021.

The Group reiterated the orientations of the Carrefour 2022 strategic plan and confirmed all of its operational and financial objectives.

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