Carrefour announces Interim Results

PARIS -- (Marketwire) -- 08/29/08 --

Solid growth in sales and Activity Contribution in First Half 2008

  - Sustained sales growth: +8.5% at constant exchange rates (+8.0% at
    current exchange rates)

  - Strongest First Half growth since 2005: Activity Contribution up
    5.5% to EUR1,404m

  - Net income from recurring operations,Group share,up 1.2% to EUR750m

  - A sound financial structure to support growth: cash flow to net
    debt ratio of 16.7% versus 16% in H1 2007

Our First Half performance underscores:

  - The group's resilience, as demonstrated in the challenging economic
    and consumer environment in France and Western Europe
  - The relevance of our multi format and single brand strategy
  - The excellent performance in Carrefour's growth markets*

We confirm our 2008 objectives:

  - Sales growth at constant exchange rates of 7%
  - Growth in Activity Contribution broadly in line with sales
  - Operating free cash flow of EUR1.5bn

    On 26 August 2008, the Carrefour Board of
    Directors reviewed and drew up the consolidated financial
    statements for the First Half of 2008.

                                                     S1     S1
Consolidated income statement (mEUR)               2008   2007**    Var.

Sales exc. VAT                                   41,948  38,845    +8.0%

ACDA **                                           2,303   2,154    +6.9%

Activity contribution                             1,404   1,331    +5.5%

Non-recurring income (expenses)                      85      56

EBIT (Activity Contribution after non-recurring
items)                                            1,489   1,387    +7.4%

Net income from recurring operations - Group
share                                               750     741    +1.2%

Commenting on these results, Jose Luis Duran, Carrefour's Chief
Executive Officer, said:"These are Carrefour's best first half results
since 2005. This strong
performance attests to the relevance of our multi format single brand
strategy on an international scale. The Group has robust fundamentals,
with a business model focused primarily on food, a balanced portfolio
of formats, leading positions in the countries where it operates, and a
sound balance sheet. These strengths, along with our competitive
advantages such as the power of our brand and our real estate
potential, give us the means to forge ahead and create greater value.

In an uncertain and challenging environment, the implementation of the
operational action plan we announced in July makes me confident that we
will achieve our 2008 objectives."

* Growth markets: markets other than France, Spain, Italy and Belgium
** ACDA = Activity Contribution before Depreciation and Amortization
*** 2007 figures adjusted in accordance with IFRS 2

To view the full PDF version of the Interim Results, copy this link
 into your web browser

                     This information is provided by RNS
          The company news service from the London Stock Exchange


Investor Relations:
Alessandra Girolami
Tel: (33) 1 55 63 39 00

Shareholder Relations:
CĂ©line Blandineau
Toll-free number: 0805 902 902

Press Relations:
Tel: (33) 1 58 47 98 88

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