Casino Guichard-Perrachon (CO) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed shareholders, journalists, and outlined the meeting's legal and procedural framework, including live streaming and recording.

• Emphasized rapid market changes: inflation, new competitors, evolving consumer habits, and the need for a renewed positioning.

• General meeting committee and scrutineers were appointed, with no objections or abstentions from shareholders.

Financial performance review

• 2024 net sales reached EUR 8.5 billion, with a slight decrease of 0.2% and LFL down 6%, mainly due to Cdiscount's strategic shift.

• Adjusted EBITDA for 2024 was EUR 111 million, down EUR 209 million from 2023, impacted by operational expenses and restructuring.

• Net result for 2024 was minus EUR 295 million, with continued activities positively impacted by EUR 2.2 billion and discontinued activities negatively by EUR 2.5 billion.

• Financial restructuring reduced gross debt by EUR 5 billion, with net debt dropping from EUR 6.2 billion to EUR 1.2 billion.

• Q1 2025 net sales were EUR 2 billion, with adjusted EBITDA at EUR 100 million and free cash flow improving by EUR 246 million.

Board and executive committee updates

• Board of Directors was overhauled in March 2024 to reflect new shareholders, with finalized governance as of June 2024.

• Roles of Chairman and CEO were separated for better governance; executive committee reduced from 15 to 12 members.

• Committees (Audit, Appointments and Compensation, Governance and CSR, Strategic) are composed mainly of independent directors and actively support the Renewal 2028 plan.