2013 Annual Results - 2013 Fourth-Quarter Revenue

• 2013 Revenue: €3,628.1m, up +1.2% year on year
• Recurring Operating Income: €269.0m, or 7.4% of revenue
• Free Operating Cash Flow: +€125.6m...

Annual results ended December 31, 2013: download the pdf document

• 2013 Revenue: €3,628.1m, up +1.2% year on year
• Recurring Operating Income: €269.0m, or 7.4% of revenue
• Free Operating Cash Flow: +€125.6m
• Proposed dividend: 0.81 euro per share
• 2013 Q4 Revenue: €915.7m, down -1.6%

In a statement, Richard Bielle, Chairman of CFAO's Management Board said:

"CFAO reported a +1.2% growth in 2013 thanks to the excellent performance of Eurapharma and Industries, Equipment and Services activities.

Sales of the Automotive division dropped by -6.4%, some major markets of the Group being down, notably Algeria and to a lesser extent Ghana and Morocco. In Algeria, after two years with an exceptional momentum, the demand progressively contracted in 2013 impacting the division revenue and profitability.

Nevertheless, CFAO posted in 2013 €269 million of recurring operating income and a strong free operating cash flow at €125.6 million.

2013 was marked by the launching of our partnership with Carrefour in the 8 major markets of West Africa, with the ambition to become rapidly a leading player in the sector, and the strengthening of our FMCG (Fast Moving Consumer Goods) distribution network in Nigeria.

With the support of TTC, our major shareholder, I am convinced that we can reinforce the leadership of CFAO and its “Three Pillar Strategy” addressing the equipment, the healthcare and the consumer goods markets, strengthening thus our positioning as a unique partner of global brands in Africa and overseas."

Please find hereafter the entire press release.