Groupe Casino

Casino Guichard-Perrachon S.A.

Groupe Casino, Feeding a world of diversity
Type	Société Anonyme with a Board of Directors
Traded as	Euronext: CO
Industry	Mass Retail
Founded	1898 (1898)
Founder	Geoffroy Guichard
Headquarters	Saint-Étienne, France
Key people	Jean-Charles Naouri
Revenue	€48.645 billion (2014)
Profit	€556 million (2014)
Total equity	€15,608 billion (2014)
Number of employees	329,600 employees worldwide, of which 71,129 in France (2013)
Subsidiaries	Géant Casino; Casino Supermarchés; Hyper Casino; Petit Casino; Casino Shop; Casino Restauration; Monoprix; Naturalia; Franprix; Leader Price; Spar; Vival; Cdiscount; Big C, Thailand; Big C, C Express, Vietnam; Pão de Açúcar, Extra, Brésil; Exito, Colombie; Libertad, Mini Libertad, Argentine; Devoto, Disco, Uruguay; Jumbo, Océan Indien
Website	mobile.casino.fr www.groupe-casino.fr

Groupe Casino (or Casino Guichard-Perrachon) is a French mass retailer with operations around the world. The company is listed on the NYSE Euronext Paris stock exchange and its majority shareholder is Rallye SA.

The company's head office is in Saint-Étienne.

History

In 1892, Geoffroy Guichard became the sole proprietor of a grocery store located in the old Casino Lyrique cabaret in Saint-Étienne, which remained the Group’s flagship store for many years and is the origin of the group’s current title.

On June 25, 1898 Geoffroy Guichard opened the first branch store in Veauche and, on August 2 of the same year, he set up the Société des Magasins du Casino et Établissements Économiques d'Alimentation, operating under the name "Guichard-Perrachon & Cie". Following the company’s creation, the focus began to shift towards organisation with the construction of a warehouse in Saint-Étienne.

The first Casino-brand products were launched in 1901, introducing the concept of private brands. 1902 saw the introduction of a customer loyalty programme that offered trading stamps for store purchases. The first factories in the Loire region were opened four years later and by 1916 the company had introduced a family allowance fund and a proft-sharing system for their employees.

The first self-service store was opened in 1948 followed by the installation of France’s first refigerated display in 1949. Almost a decade later, Casino became the first French food retailer to display a sell-by date on their products, a practice that did not become mandatory in France until 1984. In 1975, Casino joined the global market through its expansion into the United States.

By 1992, the group had acquired La Ruche Méridionale before merging with Rallye, a French retailer owned by Jean-Charles Naouri, by giving 30% of Casino. 1997 saw the development of a hostile takeover bid from retailer Promodès. However, the bid fell through due to the combined efforts of Jean-Charles Naouri, the Guichard family, and the Group’s employees. The following year, Jean-Charles Naouri became the Group’s majority shareholder.

Between 2000 and 2001, Casino acquired 50% of the variety retailer Monoprix as well as the discount chains Franprix, Leader Price, and Cdiscount. Banque Casino was founded and the property company Mercialys is established to manage the Group’s shopping centers. In 2007, the Group inaugurated its new headquarters in Saint-Étienne, its historical stronghold.

In 2010, the group acquired Carrefour’s interests in Thailand. The same year the GreenYellow subsidiary connected its first solar power plant to the French power grid. In June 2012 the Group acquired a 50% stake in Monoprix from the Galeries Lafayette. Later that month they also acquired a controlling interest in the Brazil-based Pão de Açúcar. More recently, Groupe Casino gained management control of two of the Groupe’s foundational assets: GPA in Brazil and Monoprix in France.

Positioning and strategy

With the acquisition of a controlling interest in Grupo Pão de Açúcar in Brazil and the agreement with Galeries Lafayette to acquire 50% of Monoprix, 2012 saw Groupe Casino raise its profile in high-growth markets.

Today, the Group has a network of more than 12,000 stores, of which 9,450 are in France. It operates in eight countries, generating net sales of €48,645 million and employing 329,000 people (2013).

The Group’s operations are based on a multi-format, multi-banner, multi-channel approach and a dual retailing/property business model.

International markets

Groupe Casino's global locations.

The Group focuses on countries that offer high potential for growth and in which the Group’s subsidiaries have a strong local presence. Based on these criteria, Group currently concentrates on South America and Asia.

International expansion is focused on countries that offer strong potential for profitable growth and in which the Group’s subsidiaries have a solid local presence. Based on these criteria, the priority growth regions are currently South America and Southeast Asia.

In 2013, emerging markets accounted for 60% of consolidated net sales (vs 56% in 2012), and 74% of consolidated trading profit (or €2,363 million). Groupe Casino is number one retailer in Brazil and Colombia.

Casino holds leadership positions in these markets:

• Largest retailer in Latin America
• Largest food and non-food retailer in Brazil
• Largest retailer in Colombia
• Second-largest retailer in Thailand

France

Casino currently focuses on expanding its multi-format portfolio in the convenience and discount segments. Its business model is built on a network of strategically related, yet clearly differentiated banners – Spar and Vival (urban and rural superettes), Monoprix and Franprix (centre-city stores), Leader Price (discount outlets) and Naturalia (organic foods). With its 6,500 convenience stores, Casino leads this segment in France.

Private labels and innovation

Casino owns three private labels, Monoprix, Leader Price and Casino, the last of which is France’s leading private-label brand based on the percentage of its products in the sales mix. Groupe Casino is also the leading buyer of white label products in France.

Asia Global Sourcing

In France, half of all Internet users purchase from Cdiscount, the Groupe Casino subsidiary that, in just a few years became the countriy’s first online retailer in the span of a few years. In 2010 Cdiscount successfully launched its private label Continental Edisson for appliances and electronics by using a direct purchases strategy in Asia with the strong support of its Casino Global Sourcing division based in Hong Kong and led by Christophe Benard since 2008.

Since 2014, the e-commerce activities of Groupe Casino are gathered together under the company Cnova. Cnova includes Cdiscount (operating in France, Belgium, Ivory Coast, Senegal, Colombia, Ecuador, Thailand and Vietnam) and Cnova Brazil (Extra.com.br, Pontofrio.com and Casasbahia.com.br)

Property as a value driver

A distinctive feature of the Groupe Casino business model is its dual retailing/property approach. Their expertise is deployed in France through two subsidiaries: Mercialys, a leading listed retail property company and Immobilière Group Casino, which owns the Group’s store properties.

Operations

Casino Géant

In 2012, Casino had more than 12,000 outlets (126 hypermarkets, 446 supermarkets, 2,476 discount stores, 6,457 convenience stores and 299 restaurants) in France and abroad, usually through investments in local retailers. Examples include Libertad and Mini Libertad in Argentina, Disco and Devoto in Uruguay, Big C in Thailand, Big C and C Express in Vietnam, Pão de Açúcar and Extra in Brazil, Exito in Colombia and other outlets in a dozen African countries and the Indian Ocean.

On 2 July 2012, Casino became the sole controlling shareholder of Grupo Pão de Açúcar, Brazil’s leading retailer and second largest online retailer. Grupo Pão de Açúcar has annual sales of €20.2 billion with a multi-format, multi-brand portfolio of more than 1,600 stores and 159,800 employees, making it the leading private-sector employer in Brazil. The controlling interest acquired in Pão de Açúcar significantly boosted the Group’s size, positioning it among the world's largest retailers.

In mainland France, Casino operates the following brands: Hyper Géant Casino (126 stores) Casino Supermarché (446), Monoprix (555), Franprix and Leader Price (600), Spar, Vival, Petit Casino and Casino Restauration. On Reunion Island, its brands are Géant Casino and Leader Price.

In 2005, Casino created Mercialys, a REIT-style listed property company that today manages an asset portfolio comprising some 150 shopping centres that are adjacent to Casino-owned hypermarkets and supermarkets, as well as the Group’s cafeteria properties.

In March 2012, Franprix announced plan to supply its 80 stores in central Paris with 450 tonnes of goods a day via the Marne and Seine Rivers, thereby shortening delivery times and reducing the environmental impact.

Brands

France

Groupe Casino’s brands a range of retail formats:

• Casino Supermarchés, a city-centre and rural supermarket chain
• Monoprix, a city-centre variety chain selling food, personal and beauty care products, household products and apparel
• Franprix, a city convenience store chain
• Superettes:

*Petit Casino *Casino Shop *Casino Shopping *Spar *Vival

• Discount formats:
• Leader Price, which carries both private-label and national brands
• Hypermarkets
• Hyper Géant Casino
• Online stores
• Cdiscount
• Property management
• Mercialys
• Other businesses
• Casino Restauration: Casino Cafétéria, Les Comptoirs Casino, Villa Plancha and À La Bonne Heure
• Banque Casino
• Casino Vacances (travel agency)

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  Casino Shopping

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  Supermarché Casino

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  Monoprix

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  Monoprix

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  Franprix

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  Franprix

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  Leader Price

In the world

• Brazil: Grupo Pão de Açúcar – Extra – Pão de Açúcar – Extra Fácil – Assaí – Ponto Frio - Casas Bahia

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  Extra - Brazil

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  Assaí - Brazil

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  Pão de Açúcar - Brazil

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  Pão de Açúcar - Brazil

• Colombia: Groupe Éxito – Carulla – Surtimax

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  Carulla - Colombia

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  Éxito - Colombia

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  Éxito - Colombia

• Argentina: Libertad - Mini Libertad
• Uruguay: Devoto – Disco

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  Disco - Uruguay

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  Libertad - Argentine

• Thailand: Big C

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  Big C Dao Khanong at night - Thailand

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  Supermaché Big C - Thailand

• Vietnam: Big C

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  Supermarché Big C - Vietnâm

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  Intérieur Big C - Vietnâm

• Laos: Big C
• Indian Ocean  : Jumbo – Score – Spar - Vival

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  Score - La Réunion

The Casino Foundation

Created in 2009, the Casino Foundation focuses on sponsoring youth programmes to help prevent social exclusion, by providing opportunities and resources that children need in order to be able to shape their own lives and overcome social and personal obstacles. It primarily offers assistance to children with limited access to education, with the aim of supporting their personal and intellectual growth. Through programmes to promote scientific, artistic, literary, musical or technological knowledge, the Foundation is committed to breaking down learning barriers, facilitating access to all forms of knowledge and culture for young people lacking such exposure.

• The Artistes à l’Ecole programme, organised in partnership with the French Ministry of Education and Odeon Theatre de l’Europe, allows some 2,000 students to enroll in a high-quality three-year arts and culture programme designed to nurture their talents and encourage their success.

• The Sourire à l’Hôpital programme, organised in partnership with non-profits that provide child patient care, gives hundreds of hospitalized children access to means of communication and educational resources.

• Since 2010, the Casino Foundation has also sponsored the non-profit organisation Docteur Souris, which provides Internet-connected computers to hospitalised children.

• Local initiatives allow Groupe Casino employees to request financial assistance from the Foundation to sponsor a local non-profit of their choice to extend aid to of hundreds of culturally excluded children in France and around the world.

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Board of Directors

Jean-Charles Naouri, CEO of Casino Group.

• Jean-Charles Naouri, Chairman and Chief Executive Officer
• Didier Carlier, Chief Executive Officer of Rallye, and representative of Groupe Euris
• Henri Giscard d'Estaing, Chairman and Chief Executive Officer of Club Méditerranée, independent director
• Gérard Koenigheit, Advisor to Casino, representing Matignon-Diderot
• Lady Sylvia Jay, Chairman of l’Oréal UK & Ireland, independent director
• Marc Ladreit de Lacharrière, Chairman and Chief Executive Officer of Fimalac
• Didier Levêque, Chairman and Chief Executive Officer of Finatis, representing Foncière Euris
• Catherine Lucet, Chief Executive Officer of the Education and Reference Division of Editis, independent director
• Gilles Pinoncély, corporate director
• Gérald de Roquemaurel, Managing Partner of BGR Partners, independent director
• David de Rothschild, Statutory Managing Partner of Rothschild & Cie Banque
• Frédéric Saint-Geours, member of the Managing Board of Peugeot SA, independent director
• Michel Savard, Chairman and Chief Executive Officer of Foncière Euris, representing Finatis
• Rose-Marie Van Lerberghe, member of the Conseil Supérieur de la Magistrature, senior independent director
• Pierre Giacometti, Chairman of Giacometti Péron & Associés, non-voting director
• Jacques Dumas, Secretary of the Board of Directors, Advisor to the Chairman

Executive Committee

• Yves Brabant, Chief Executive Officer of Big C (Thailand)
• Hervé Daudin, Merchandise and Supply Chain Director, Chairman of the Board of EMCD
• Yves Desjacques, Human Resources Director
• Antoine Giscard d’Estaing, Chief Financial Officer
• Gérard Walter, Managing Director, Casino Hypermarkets
• Ronaldo Iabrudi : Managing Director GPA (Brésil)
• Jean-Paul Mochet, Managing Director, Franprix
• Tina Schuler, Managing Director, Leader Price
• Carlos Mario Giraldo Moreno, Chairman and Chief Executive Officer of Exito (Colombia)
• Arnaud Strasser, Corporate Development and Holdings Director
• Julien Lagubeau, Committee Secretary and Strategic Planning Director

Financial highlights

Key figures in € millions

Years	2008	2009	2010	2011	2012	2013	2014
Net business volume	36,144	36,842	42,777	50,930	52,342
Net sales	28,704	26,757	29,078	34,361	41,971	48,645	48,493
Trading profit	1,266	1,209	1,300	1,548	2,002	2,624	2,231
Equity	7,124	7,037	7,916	9,383	15,201	15,426	15,608
Debt	4,851	4,072	3,845	5,379	5,451	5,416	5,822

Net business volume includes all revenue from consolidated companies, associates and franchisees, on a 100% basis.

Share information

• Groupe Casino shares are listed on the NYSE Euronext Paris market (Compartment A)

ISIN: FR0000125585

• Par value: €1.53 per share
• Majority shareholders at end-2012 (voting rights): Free float: 38.6%; Groupe Rallye 59.3%; employees 2.1%.

Share data as at January 1

Years	2011	2012	2013
Share outstanding (in million)	110.6	112.7	113.1
Market capitalisation (in € million)	7,200	8,100	9,500
Daily trading volume (in thousands of shares)	554	662	628

External links

• Official website
• http://www.fondation-casino.org
• Casino Guichard Perrachon Sa