Casino Q1 sales growth slows, GreenYellow listing an option

Cnova NV

06/05/2021 16:51

PARIS, May 6 (Reuters) - French Retailer Casino  CASP.PA 
said on Thursday that a stock market listing was among the
options under review for its GreenYellow renewable energy
subsidiary as it pushes with plans to reduce debt.
    Casino also said revenue growth slowed sharply in the
first-quarter, reflecting a 6.4% fall in sales on a same-store
basis in the core market of France, which faced high year-ago
comparables tied to the first COVID-19 lockdown.
    The group's profitability in France however sharply
increased during the quarter, with earnings before interest and
taxes rising 19% to 204 milion euros, reflecting cost savings.
    Casino, which has been selling assets to reduce its debt,
reiterated it had launched preparatory work for potential
capital increases for its Cdiscount e-commerce and GreenYellow
renewable energy subsidiaries.  urn:newsml:reuters.com:*:nASN0012BW
    "A listing is among the options for GreenYellow," Finance
Chief David lubek told reporters.
    Casino, which also controls Brazil's Grupo Pao de Acucar
 PCAR3.SA , posted first-quarter sales of 7.146 billion euros 
($8.61 billion).
    On a same-store basis and excluding acquisitions, currency
effects and revenue on fuel, sales rose by 0.1% compared to 8.1%
growth in the fourth quarter of 2020.

($1 = 0.8298 euros)

 (Reporting by Dominique Vidalon; Editing by Benoit Van
Overstraeten)
 ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters
Messaging: dominique.vidalon.reuters.com@reuters.net))