Market Leadership In FranceSustained market share (22%) and a France core operating margin milestone (3.0%) indicate structural strength in Carrefour's home market. Leadership supports stable traffic, pricing leverage and higher operating resilience, underpinning durable cash flows and a platform for roll-out of convenience formats.
Consistent Cash Generation And Cost SavingsRecurring positive free cash flow and a €1.1bn annual cost-saving program provide lasting financial ballast. This combination funds dividends, deleveraging and capex flexibility, while the savings program can sustainably improve operating margins absent revenue recovery, strengthening long-term financial durability.
Improving Profitability In Spain (and Select LATAM Execution)Material margin expansion and recurring income growth in Spain reflect durable commercial execution and price/fresh-product strength. Geographic profit diversification, plus e‑commerce gains in Latin America, reduces reliance on a single market and supports group-level margin recovery over the medium term.