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Casino Guichard-Perrachon (CO) investor relations material
Casino Guichard-Perrachon Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2026 net sales reached €1.95bn, up 0.3% LFL, with convenience brands up 0.6% LFL and Cdiscount down 1.3% LFL.
Adjusted EBITDA rose 10.4% to €110m, driven by operational action plans, cost savings, and store network streamlining.
Store concepts like "Oxygène" at Franprix and "La Ferme" at Naturalia expanded, supporting fresh product sales and quick meal solutions.
Fashion & Home segment at Monoprix showed growth, offsetting declines in food sales.
Financial highlights
Group adjusted EBITDA margin improved to 5.7% (+67 bps year-over-year).
Free cash flow before financial expenses improved to -€45m from -€81m in Q1 2025.
Liquidity stood at €802m at 31 March 2026, mainly from available cash.
Financial covenant net debt/adjusted EBITDA ratio at 5.98x, below the 7.41x threshold.
Outlook and guidance
Objective of break-even free cash flow before financial expenses in 2026, excluding non-recurring litigation effects.
Ongoing negotiations with creditors and FRH to reach a financial restructuring agreement by end of June 2026.
Inflation expected to persist, but impact on transport and energy costs remains controlled.
- Adjusted EBITDA rose 13.7% to €655m as trading profit turned positive, but net loss widened.CO
H2 202525 Apr 2026 - 2025 saw modest LFL sales growth, strong Naturalia gains, and Cdiscount's Q4 rebound.CO
H2 2025 TU26 Feb 2026 - All resolutions passed as the group pivots to convenience retail and implements Renewal 2028.CO
AGM 20253 Feb 2026 - Debt cut by €5.1bn as restructuring advanced and a new value plan is due post-Q3.CO
H1 20242 Feb 2026 - All resolutions passed as debt was cut and the group pivots to convenience retail.CO
AGM 20242 Feb 2026 - Renouveau 2028 targets €15bn GMV, €500m EBITDA, €600m savings, and break-even cash flow by 2026.CO
Strategy Update14 Jan 2026 - Adjusted EBITDA up 13% to €456m, with net sales and liquidity both rising.CO
Q3 2025 TU16 Dec 2025 - Renouveau 2030 drives growth and efficiency but hinges on major refinancing and equity injection.CO
Investor Presentation25 Nov 2025 - Adjusted EBITDA rose 12.2% to €286m, but net loss widened to €211m; liquidity at €1.24bn.CO
H1 202518 Sep 2025
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