Reminder of 2023 forecasts and communication on Groupe Casino's updated 2024-2028 business plan
Paris, 20 September 2023
Casino Group today posted a presentation on the company's website1 regarding the Group's updated 2024-2028 business plan.
This new business plan is based on:
- The 2024-2028 business plan published on June 26, 2023,
- the reforecast for the 2023 financial year (unchanged)2, which has already been the subject of a Group publication dated July 27, 2023,
- the review of the 2024-2028 trajectory by the Group and its advisors.
The main figures of this business plan (detailed in the presentation) are presented below.
Further to its press release of September 18, 2023, the Group announces that the Paris Commercial Court has decided to extend the conciliation period until October 25, 2023.
Consolidated French perimeter: Key financial indicators3
| In €m | 2023 | 2024 | 2025 | // | 2028 |
| Sales | 14,923 | 14,799 | 15,682 | 17,297 | |
| EBITDA after lease payments | 214 | 401 | 582 | 830 | |
| % of sales | 1.4% | 2.7% | 3.7% | 4.8% | |
| APCO | (302) | (185) | (129) | (58) | |
| Other operating cash flow items | (189) | (120) | (91) | (87) | |
| Operating cash flow | (277) | 96 | 362 | 685 | |
| Capex | (418) | (452) | (477) | (513) | |
| Operating cash flow after capex | (695) | (356) | (115) | 172 | |
| Tax | (23) | (18) | (17) | (6) | |
| Change in WC | (782) | (88) | 47 | 9 | |
| o/w WC financings | (837) | - | - | - | |
| o/w postponed social charges | 296 | (296) | - | - | |
| Free cash flow | (1,499) | (461) | (85) | 175 | |
| FCF excl. operating financings and social charges | (889) | (165) | (85) | 175 | |
| Estimated impact of Prosol's partnership (1) | 10 | 44 | 87 | ||
| Estimated impact ITM disposals A2 list (1) | 16 | 16 | |||
| Pro forma FCF excl. operating financings and social charges | (889) | (155) | (25) | 278 |
- Gains being analytically tracked at the AMC level and will be allocated to DCF
* * *
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
Forward-looking statements
This press release may include forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms as "believe", "expect", "anticipate", "may", "assume", "plan", "intend", "will", "should", "estimate", "risk" and or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Casino Group's intentions, beliefs or current expectations concerning, among other things, the Casino Group's plans, objectives, assumptions, expectations, prospects and beliefs and statements regarding other future events or prospects. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.
These forward-looking statements reflect the Casino Group's current expectations, intentions or forecasts of future events, which are based on the information currently available and on assumptions made by the Casino Group. The forward-looking statements and information contained in this announcement are made as of the date hereof and the Casino Group is under no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws. All subsequent written or oral forward-looking statements attributable to the Casino Group, or persons acting on the Casino Group's behalf, included in but not limited to press releases (including on the Casino Group's website), reports and other communications, are expressly qualified in their entirety by the cautionary statements contained throughout this press release.
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ANALYSTS AND INVESTORS CONTACTS
Christopher WELTON - Phone number: +33 (0)1 53 65 64 17
cwelton.exterieur@groupe-casino.fr
or
+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr
PRESS CONTACTS
Casino Group - Communications Department
Nicolas BOUDOT - Phone number: + 33 (0)6 79 61 40 99 - nboudot@groupe-casino.fr
or
+ 33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr
Agence IMAGE 7
Karine Allouis - Phone number: +33 (0)6 11 59 23 26 - kallouis@image7.fr
Laurent Poinsot - Phone number: + 33(0)6 80 11 73 52 - lpoinsot@image7.fr
Franck Pasquier - Phone number: + 33(0)6 73 62 57 99 - fpasquier@image7.fr
1 Cf. link Presentation
2 Cf. pages 12 and 13 of the presentation
3 Cf. page 22 of the presentation
