By Cecilia Butini
Casino Guichard-Perrachon said late Wednesday that earnings and sales for its France operations are expected to fall in the second quarter, and that revised offers for the restructuring of the company’s debt are expected on Friday.
The French group said it expects its France sales to have reached 3.6 billion euros ($4.01 billion) in the second quarter, from EUR4 billion the year prior.
In the first half of the year, the company expects to have come to a post-lease loss before interest, taxes, depreciation and amortization of between EUR165 million and EUR175 million, compared with earnings of EUR191 million the year prior. Lower sales and price cuts in hyper- and supermarkets affected results, said Casino.
Excluding hyper- and supermarkets, French post-lease Ebitda would be around EUR300 million, it said.
For the full year, post-lease Ebitda is now expected to be below EUR300 million, compared with EUR440 million in the business plan that was presented on June 26, the company said.
As Casino seeks to restructure its debt, it said that conciliators have asked for revised offers to be submitted on Friday at the latest. They will be reviewed on Monday, the company said.
Write to Cecilia Butini at [email protected]
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