GUYENNE ET GASCOGNE 
By Bayonne, March 21st, 2012
(In thousand euros) | 2011 | 2010 | |
GUYENNE ET GASCOGNE Consolidated accounts | Sales (excl. VAT) Income from ordinary operations Share of Sogara income Share of Centros Comerciales Carrefour income | 549,169 10,060 14,456 5,868 | 532,276 10,403 12,110 7,761 |
GUYENNE ET GASCOGNE Consolidated accounts | |||
GUYENNE ET GASCOGNE Consolidated accounts | Net income (Group share) | 24,948 | 25,635 |
GUYENNE ET GASCOGNE Consolidated accounts | |||
Guyenne et Gascogne parent company | Sales (excl. VAT) EBIT Sogara dividend Net income | 549,169 8,068 27,219 30,466 | 532,276 8,121 27,219 31,037 |
Sogara | Sales (excl. VAT) Income from ordinary operations Net income | 1,362,713 4,505 28,912 | 1,387,075 32,379 24,222 |
Centros Comerciales Carrefour (Spain) | Sales (excl. VAT) Income from ordinary operations Net income | 8,351,388 379,900 142,554 | 8,650,314 431,134 188,565 |
Guyenne et Gascogne is a primarily food-based mass retail group operating hypermarkets and supermarkets in Southwest France and
Spain.
The Sogara and Centros Comerciales Carrefour subsidiaries are consolidated on an equity basis for 50% and 4.1% respectively. The parent company's accounts are presented under French GAAP, while the accounts for Sogara and Centros Comerciales Carrefour ar e presented under IFRS.
As recommended by the French securities regulator (AMF), it is necessary to indicate that the accounts for 2011 were approved by the
Management Board on March 20th, 2012 and the audit procedures have been performed on these accounts.
2011 was marked by a relatively unfavorable economic climate
that particularly affected non-food sections in hypermarkets,
which also faced competition from the growing strength of
e-commerce. However, the parent company held up well,
primarily thanks to its Carrefour Market supermarket network.
The Sogara subsidiary, penalized by the impact of non-food in
its large hypermarkets, experienced a more difficult year.
While income from ordinary operations shows a clear
contraction, net income is up, factoring in the repayment of
withholding tax on dividends paid previously by the Spanish
subsidiary. Centros Comerciales Carrefour, in a deteriorated
general environment, maintained its market shares and a
significant level of earnings.
In total, Guyenne et Gascogne's consolidated income came in
very close to the previous year's figure.
On December 12th, 2011, Guyenne et Gascogne
announced its intention to pay out an interim dividend of
7 euros per share prior to the close of Carrefour's
public offer for Guyenne et Gascogne's shares.
Press contact: Calyptus - Marie-Anne Garigue Guyenne et Gascogne contact: Marc Léguillette
Tel: +33 1 53 65 68 63 - Fax: +33 1 53 65 68 60 Tel: +33 5 59 44 55 00 - Fax: +33 5 59 44 55 77 marie-anne.garigue@calyptus.net marc.leguillette@guyenneetgascogne.fr
ISIN: FR0000120289|
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| This press release was issued by Guyenne et Gascogne SA and was initially posted at http://www.guyenneetgascogne.com/pdf/GG_CP_RN2011_E.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-21 09:24:32 AM. The issuer is solely responsible for the accuracy of the information contained therein. |
