Carrefour Q2 2025 Results Show Acceleration in Core Markets

Carrefour Q2 2025 Results confirmed an acceleration in group performance, with like-for-like (LFL) sales rising by 4.4%, up from 2.9% in the previous quarter. The group delivered total sales of €23.9 billion for the quarter, up 10% at constant exchange rates.

The pace of sales in all major markets improved. France recorded the +2.1% LFL growth after negative performance in Q1. In Spain +2.9% rose, while Brazil +4.4% was strong on LFL.

The EBITDA group reached 1.94 billion euros in the first place, H1 from 2024 to 1.1%. The repeated operating income was € 681 million, reflecting the integration costs of Cora & Match and currency effects. Apart from the choir and match, France registered an increase of 20% in Roi, with an operating margin of 1.9%.

Outside France, in Europe, a 2nd quarter remained stable of € 80 million, a competitive shift in Poland with gains in Spain. Spain yielded 9.4% return growth with the opening of 68 new stores.

Latin America reported an increase of 10.9% LFL in H1, with a Q2 increase of 9.7% lfl. Atakado in Brazil led with +5.4% lfl. Carfor retail Brazil bought +1.6% LFL, and Sam Club Brazil was 0.1% above. 38.8% LFL increased in Argentina, despite the volume pressure increased the market share.

Net free cash flow thi -h1 for € 2.09 billion for 2025, mainly due to CERA & Match consolidation, low working capital contributions and low real estate activity. Pure financial loan reached € 6.99 billion.

Carrefor confirmed the year -round financial goals for 2025, including a slight increase in EBITDA, ROI and net free cash flow. The company reported € 610 million in cost savings in H1, which was on track to meet the target of € 1.2 billion a year.

Strategic development included the launch of Concordis, a European procurement coalition with a coalition cotative U, and an agreement to sell Newoprinus Group to Carfor Italy. The integration of the choir and the match continued, where 9 stores were divided into the competition requirements.

E-commerce with 16% GMV growth in H1 and 20% in Q2 remained strong. Brazil e-commerce GMV Q2 rose 36%.

The group also completed three Sustainability-Linked Bonds in 2025 totaling €1.65 billion, supporting debt refinancing and sustainability initiatives.

Carrefour Q2 2025 Results reflect strong momentum in its three core regions and continued execution of its transformation strategy.