Auchan revenue up 4.4% thanks to expansion
French retailer Auchan has reported that consolidated revenue excluding taxes rose 4.4% to EUR44.4 billion (USD61.7 billion) in fiscal 2011. The capital gains on the restructuring and initial public offering of Auchan-Ruentex in China enabled the retailer to deliver a 15.5% net profit increase for the period. However, EBITDA declined, for the first time in five years, by 5.5% to EUR2.37 billion (USD3.3 billion) due to pressure on margins and higher costs particularly in the eurozone, according to Auchan. Operating profit from continuing operations remained stable, edging up 0.3% to EUR1.34 billion (USD1.86 billion). Revenue climbed 2.4% in France but fell 1.3% in Western Europe (Spain, Italy, Portugal and Luxembourg). In contrast, revenue grew 13.6% in Central and Eastern Europe (CEE) and Asia. In China, restated for the change in the scope of consolidation, revenue including tax increased 4.2% at constant exchange rates, excluding the positive impact of petrol sales.
Consolidated hypermarket revenue excluding taxes was up 4.2% to EUR35.4 billion (USD46.9 billion) with growth boosted by CEE and Asia. In France, where two hypermarkets and 16 AuchanDrive outlets were opened, hypermarkets revenue rose 1.4% to EUR15.2 billion (USD19.9 billion). Consolidated revenue excluding taxes for the supermarkets increased 4.6% to EUR7.2 billion (USD9.5 billion) mainly thanks to the recovery in Auchan's domestic market and growth in Russia. Consolidated revenue from the other activities, including e-commerce, Alinéa, Little Extra and Chronodrive, amounted to EUR837 million (USD1.11 billion), up 17.7% on the previous year.
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