LABEL'VIE GROUP PRESS CONFERENCE PRESENTATION OF 2019 ANNUAL RESULTS Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
1 2019 HIGHLIGHTS Store Openings Bond debt SGE Commitments SUMMARY Opening of the Agadir F&V platform 2 FINANCIAL RESULTS Consolidated accounts Balance sheet indicators 3 2020 PERSPECTIVES Business prospects New Carrefour Market concept New corporate identity Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
1 REVIEW OF SIGNIFICANT EVENTS 2019 Openings Bond debt SGE Commitments Opening of the Agadir’s F&V platform. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
OPENINGS Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
OPENINGS FOR FISCAL YEAR 2019 SUMMARY TABLE Summary Supermarkets Hypermarkets Hyper Cash Total Group Number of stores on Dec. 2018 73 8 11 92 Sales in sqm. 83,034 44,800 59,564 187,398 In % of Group total 44% 24% 32% 100% Openings 12 1 13 Sales area opened in sqm. 7,666 6,200 13,866 Closings 1 1 Sales area closed in sqm. 500 500 Number of stores on Dec. 2019 84 9 11 104 Sales area in sqm. 90,200 51,000 59,564 200,764 In % of Group total 45% 25% 30% 100% Comments ▪ Opening of 12 Carrefour Market and 1 Hypermarket "Dar Bouazza" in Casablanca. ▪ 13,866 sqm. opened in 2019 (including 1,700 sqm. of additional sales area for the "Targa" Marrakesh hypermarket) ▪ Closing of the Carrefour Market Casablanca Bethune store Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET RABAT DESCARTES Opening: January 24 th , 2019 Sales area: 500 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET KENITRA MAAMORA Opening: February 21 st , 2019 Sales area: 650 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET AGADIR EL HOUDA Opening: March 21 st , 2019 Sales area: 480 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET CARREFOUR MARKET CARREFOUR MARKET CASA OASIS MARRAKECH, SEMLALIA MOHAMMEDIA, MANSOURIA Opening: May 30 th , 2019 Opening: May 30 th , 2019 Opening: May 30 th , 2019 Sales area: 700 sqm. Sales area: 613 sqm. Sales area: 725 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET DAR BOUAZZA Opening: June 27 th , 2019 Sales area: 800 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET MOHAMMED KAMAL PARK Opening: July 25 th , 2019 Sales area: 815 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET CARREFOUR MARKET CASABLANCA MOHAMMED V OUARZAZATE Opening: October 24 th , 2019 Opening: October 24 th , 2019 Sales area: 500 sqm. Sales area: 800 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR MARKET OPENINGS IN 2019 CARREFOUR MARKET CARREFOUR MARKET BOUSKOURA JASMINE ABAT, OQBA Opening: December 26 th , 2019 Opening: December 26 th , 2019 Sales area: 600 sqm. Sales area: 483 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
12 CARREFOUR OPENINGS IN 2019 CARREFOUR DAR BOUAZZA Opening: September 18 th , 2019 Sales area: 4 500 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
1 CARREFOUR EXTENSION IN 2019 CARREFOUR MARRAKECH, TARGA Opening: December 16 th , 2019 Extension of 1,700 sqm. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
A NETWORK COVERING 26 CITIES Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
BOND DEBT Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
BOND ISSUANCE CHARACTERISTICS AND OBJECTIVES OF THE OPERATION Operation Amount Terms and conditions of reimbursement 750 MMAD 50% in-fine over 5 years 50% amortized over 7 years Operation’s Objectives Going rate Average Interest Rate of 3.4% • Financing the development plan • Taking advantage of financial leverage • Debt restructuring ▪ The loan was subscribed by 49 subscribers of different categories (credit institutions, insurance companies, pension funds, financial companies and CDG) with a subscription rate of 7.4x . ▪ Only Type I investors (former holders of 2014 bonds) were served. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
SGE COMMITMENTS Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
SGE AT THE CENTER OF OUR ACTIVITY Our Group aims to become the leading SGE player in the retail industry in Morocco. Our policy on social responsibility is based on five pillars: Client Focus Development of Human Capital, Social Development, Environment protection, Governance and Business Ethics, Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
OUR ENVIRONMENTAL FOOTPRINT OUR ENVIRONMENTAL INITIATIVES Waste management and recycling Solar Panels World Clean Up Day As part of the diversification of energy supply Extensive beach cleaning operation conducted in Label'Vie Group is planning the widespread installation of waste management devices such sources, the Group has undertaken an initiative to 2019 in partnership with the Mohammed VI cover stores with a solar panel roof that allows near Foundation for the Preservation of the as compactors . self-sufficient energy. Environment. In 2019, 6,700 tons of waste were collected and The experiment, carried out at the Atacadao The operation took place in 4 beaches in Morocco reused. Meknes site and which required more than 6 (Salé, Casablanca, Nador and Tangier) and more months of work, has been operational since October than 8 tons of waste were collected. 2019. It has reduced energy costs by 23%. An ambitious project for a covered parking in the Skhirat distribution center is being studied and will be tested by the beginning of 2021. Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
OUR HUMAN RESOURCES POLICY TRAINING, AT THE HEART OF OUR BUSINESS One of the biggest recruiting companies in Morocco ( 1 300 people recruited in 2019) An internal training school: 1,500 beneficiaries each year, 22 training cycles and approximately 180 internal Professional License in Trade and Distribution in alternance with the FSJES Certificate of Operator of Meats in alternance with the IRTSE trainers ; of Settat of Kenitra Studied and adapted trainings delivered each year for more than 2,000 employees ; Partnerships with Schools & Universities in order to set up professional and alternance programs: 103 students trained in 2019 . Management of Trade & Distribution in Food Processing with the FST of Degree in Agri-food Sciences and Business Techniques with the Settat FST of Al Hoceima Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
OUR GOVERNANCE ELECTION OF TWO NEW INDEPENDENT DIRECTORS Jean Marie Grosbois Marie Claude Azzouzi French Foreign Trade Advisor Highly experienced consultant in governance of complex projects. President of the French Chamber of Commerce and Industry of Morocco. Managing Director of Idéal Loisirs - Majorette. Managing Director of the Brasseries du Maroc Group. Founder and Manager of the Rabat School of Governance and Economics Lieutenant Commander Cousteau's team (Calypso) Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
FIRST SGE ACHEIVEMENT ATTESTATION LEVEL OF MATURITY ISO 26000 Label’Vie – Présentation des résultats annuels 2019 - Conseil d’administration
OPENING OF THE AGADIR F&V PLATFORM Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
OPENING OF AN F&V PLATFORM IN AGADIR OPERATIONAL EXPANSION Opening in September 2019 of the Fruits & Veggie regional distribution center of 1,200 sqm on 1 ha land reserve. Optimal location close to the country’s largest farms Regional dimension : 80% of the assortment supplied and distributed regionally Domestic dimension : purchasing from the farms for the entire network Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
2 FINANCIAL RESULTS Consolidated accounts Balance sheet indicators Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
CONSOLIDATED ACCOUNTS Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
MAIN FINANCIAL INDICATORS KEY EVOLUTIONS Gross Operating Profit Sales +15% +12% In MMAD Net income Operating Income +10% +9% Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
MAIN FINANCIAL INDICATORS KEY EVOLUTIONS Traffic In thousands of +14% bills Investment (excl. securization) Fixed assets and Financing in MMAD in MMAD +23% Fexed Assets Fxed Assets Net Investment Net Investment Permanent Financing Net Investment Label'Vie - 2019 Annual Results Presentation - Tuesday, March 3, 2020
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