Auchan's holding company suffers a heavy half-year loss of 1.5 billion euros

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The Auchan distributor's holding, in difficulty, announced Friday to have suffered a heavy net loss of 1.5 billion euros in the first half, which it puts on the account of its activities being sold, including its distribution subsidiaries in Italy and Vietnam (AFP / PHILIPPE HUGUEN)

The Auchan distributor's holding, in difficulty, announced Friday to have suffered a heavy net loss of 1.5 billion euros in the first half, which it puts on the account of its activities being sold, including its distribution subsidiaries in Italy and Vietnam.

Excluding these "exceptional items", which also include the ongoing sale of its bank Oney, the Nordic group posted a loss of its "continuing operations" of only 124 million euros over the same period, he says in a statement. communicated.

Owned by the Mulliez Family Association (AFM), Auchan Holding had already published a net loss of 1.145 billion euros for the whole of 2018. The group has since started a vast plan of "recovery", proceeding many disposals in order to clean up his accounts.

As a result of the sale of its banking activities (Oney) to BCPE, the group has refocused on two divisions: retail (Auchan Retail) and real estate (Ceetrus).

The net loss of € 1.5 billion recorded at June 30, 2019 mainly includes "the result of the sale of the Auchan Spa business", the subsidiary of Auchan Retail in Italy, which was concluded on July 31, specifies the press release.

"We have had to arbitrate on certain subjects and the approach, except exceptional, is beginning to bear fruit (…) The decision to sell the activity in Italy and Vietnam is proof of this even if it weighs heavily on our results, "said Edgard Bonte, executive chairman of this branch, quoted in the statement.

Auchan Holding's revenue – the equivalent of revenue – totaled almost € 23 billion, down 2.6% year-on-year, mainly due to unfavorable exchange rates.

At the end of April, in line with the recovery plan of its distribution division, the group had launched the sale of 21 sites in France, potentially involving between 700 and 800 employees. In France, it has 637 stores under banner and employs 73,800 employees.

lrb / soe / shu



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