Casino, which previously expected an increase in its Ebitda in France this year, now estimates that it will be down 1.7%, to around 1.28 billion euros against 1.304 billion in 2020. (Photo credits: Groupe Casino-)
PARIS, Jan 31 (Reuters) – Casino CASP.PA fell sharply in early trading on the Paris Stock Exchange on Monday after lowering its 2021 Ebitda forecast for its brands in France on Friday.
At 9:16 am, the action of the retail group fell 7.30% to 21.07 euros, the largest drop in the SBF 120 index. SBF120, which advanced by 0.85%.
In its wake, competitor Carrefour CARR.PA dropped 2.66%, the bottom of the CAC 40 .FCHI index (0.87%).
Casino, which previously expected an increase in its Ebitda in France this year, now estimates that it will be down 1.7%, to around 1.28 billion euros against 1.304 billion in 2020.
“A temporarily shrinking market”
“The fourth quarter of 2021 was marked in France by a temporarily shrinking market, in stronger than expected proportions, with a change in the food distribution market of -3.7% at the national level and -5.6% in Ile-de-France,” Casino said in a short statement.
The retailer will publish its fourth quarter sales and annual results on February 25.
In a note released on Monday, Jefferies analysts point out that the new forecast implies the possibility of a 10% drop in Ebitda in France in the second half after a 9% rise in the first half.
“Our focus will be on how earnings pressure translates to cash flow and leverage,” they say.
(Blandine Hénault report, edited by Marc Angrand) (([email protected];))
https://www.myget.org/feed/real-demolition-derby-extreme-cr-1/package/nuget/real-demolition-derby-extreme-crash-simulator-hack
https://www.myget.org/feed/nekuromansa-1/package/nuget/nekuromansa-hack
https://www.myget.org/feed/3d-bussi-pysakointi-kaupungin-aj-1/package/nuget/3d-bussi-pysakointi-kaupungin-ajokoe-simulaattori-hack
https://www.myget.org/feed/slime-maker-diy-simulator-time-1/package/nuget/slime-maker-diy-simulator-time-hack
https://www.myget.org/feed/survival-express-1/package/nuget/survival-express-hack
https://www.myget.org/feed/hutuunokoinluo-tosi-gesenderen-q-1/package/nuget/hutuunokoinluo-tosi-gesenderen-qi-nokoingemu-hack
https://www.myget.org/feed/cave-legend-1/package/nuget/cave-legend-hack
https://www.myget.org/feed/electric-protector-1/package/nuget/electric-protector-hack
https://www.myget.org/feed/sky-boxes-1/package/nuget/sky-boxes-hack
https://www.myget.org/feed/shipping-manager-1/package/nuget/shipping-manager-hack
https://www.myget.org/feed/mots-meles-mots-infinis-pro-1/package/nuget/mots-meles-mots-infinis-pro-hack
https://www.myget.org/feed/berzerker-botz-1/package/nuget/berzerker-botz-hack
https://www.myget.org/feed/ready-jump/package/nuget/ready-jump-hack
https://www.myget.org/feed/show-prode-1/package/nuget/show-prode-hack
https://www.myget.org/feed/cookies-inc-idle-tycoon-1/package/nuget/cookies-inc-idle-tycoon-hack
https://www.myget.org/feed/crossgrams-1/package/nuget/crossgrams-hack
https://www.myget.org/feed/chatbot-2/package/nuget/chatbot-hack
https://www.myget.org/feed/smash-em-all-2/package/nuget/smash-em-all-hack
https://www.myget.org/feed/marble-blast-2016-1/package/nuget/marble-blast-2016-hack
https://www.myget.org/feed/joe-world-1/package/nuget/joe-world-hack
https://www.myget.org/feed/boggle-me-1/package/nuget/boggle-me-hack
https://www.myget.org/feed/text-twister-contest-1/package/nuget/text-twister-contest-hack
https://www.myget.org/feed/athletics-flip-1/package/nuget/athletics-flip-hack
https://www.myget.org/feed/barnespill-dyrene-og-tyngdekraft-3/package/nuget/barnespill-dyrene-og-tyngdekraften-2-hack
https://www.myget.org/feed/sudoku-16×16-game-1/package/nuget/sudoku-16×16-game-hack