Cedric Lecasble's questions to Carrefour SA (CRRFY) leadership • Q2 2024
Question
Cedric Lecasble requested more information on the Spanish financial services business, which is rarely discussed, asking about its weight within Spanish operations and the nature of the H1 impact that is not expected to repeat in H2. He also asked about the flexibility for further cost savings in European markets compared to France.
Answer
Executive Matthieu Malige explained that while the company doesn't disclose financial services results by country, the impact in Spain was visible but not huge, related to pressure on the financial margin, and they are more constructive for H2. Regarding cost savings in Europe, he stated that the dynamic is strong across the group, with many operational plans being implemented. He noted there is still a good reservoir of savings potential that is widespread across countries, not concentrated in any single one.