- Solid sales growth in 2008 to €97.6 bn
- 2008 sales incl. VAT: +6.3% at constant exchange rates
- Q4 2008 sales: +1.9% at constant exchange rates

Full-year 2008 sales: growth in sales across all geographical regions

- Good resilience in France (+1%)
- Sustained growth in Spain (+5.5%)
- Excellent performance in growth markets* (+19.7% at constant exchange rates)
- Organic growth of 4.5%, in line with the 4.7% recorded in 2007

Q4 2008 sales: slowing sales in a tougher environment

- Good performance by supermarkets and convenience stores in France
- Slowing sales in Europe (+0.5% at constant exchange rates)
- Sustained increase in sales in growth markets* (+11.8% at constant exchange rates): continued strong trends in Latin America, slowdown in Asia

A volatile and contrasted year in 2008, notably marked by:

- A sharp slowdown in food price inflation and a negative impact from petrol on sales in the Fourth Quarter
- Sustained promotional efforts to be on the side of our customers
- Strong growth in sales of our branded products
- Downturn in non-food spending, especially towards the end of the year

Confirmation of revised 2008 objectives:

- Generation of operating free cash flow of €1.5 billion
- Activity Contribution expected to record slight growth compared to 2007

Lars Olofsson, who took over as Carrefour’s Chief Executive Officer on 1 January 2009, declared:

“In 2008, despite a very tough environment that weighed on Activity Contribution, Carrefour posted a solid increase in its sales, especially in its growth markets. Carrefour can and should further improve its performance. I am fully confident that our resources and financial strength will allow us to rise to the challenges ahead. Our geographical footprint, our multiple store formats, the richness and strength of the Carrefour brand and the commitment of our teams represent key assets that we will reinforce for the benefit of all our customers. Anticipation, speed and excellence in the execution of our strategic choices will be crucial in enhancing Carrefour’s performance.”

* Growth markets: excluding France, Spain, Italy and Belgium