Further increase in profitability led by the cost saving and operational efficiency plans in place since second-half 2020.In €mĮBITDA was up +19% versus Q1 2020, in a context of lower net sales relative to the exceptionally high basis of comparison during the first lockdown. Profitability increased sharply once again, with an EBITDA margin up +130 bps versus Q1 2020, driven by (i) cost-saving and operational efficiency plans in the brick-and-mortar banners and (ii) Cdiscount’s good performance. -€467m in France (-€715m including settlement of GPA TRS).Gross debt: -€1,625m reduction versus Q1 2020 Net debt (excl. Q1 EBITDA: +21% at constant exchange rates Q1 EBITDA after lease payments: +49% at constant exchange rates In Latin America, growth remained very strong at Assaí, with sales up +21%.In France, excellent quarter for Cdiscount, with marketplace revenues up +43%.This profitability improvement led to faster debt reductionĬonsolidated net sales of €7.1bn, stable on a same-store basis, and up 6.5% over 2 years
Strong growth in the profitability of banners andĮ-commerce, enabling the Group to accelerate its debt reductionįirst-quarter 2021 confirmed the second-half 2020 trend of increased profitability across all geographies
