FY 2022 Results
Net Free Cash Flow growth > EBITDA to Net FCF
in €m
EBITDA
Income tax paid
Financial result (operations-related)(2)
2021
(1)
2022
Variation
4,307
4,613
306
(426)
(449)
(23)
(1)
13
14
Cash impact of restructuring items and others
(289)
(424)
(135)
Gross cash flow (excl. discontinued)
3,591
3,753
162
Change in working capital requirement (incl. change in consumer credit)
Discontinued operations
(186)
243
428
255
224
(31)
(3)
Operating cash flow (incl. exceptional items and discontinued)
Capital expenditure(3
3,661
4,219
559
(1,558)
(1,861)
(304)
Asset disposals (business related)
276
379
103
Change in net payables and receivables on fixed assets
122
55
(67)
Discontinued operations
(67)
(36)
31
Free cash flow
2,435
2,756
322
Payments related to leases (principal and interests) net of subleases
payments received
(931)
(1,047)
(116)
Net cost of financial debt
(173)
(336)
(164)
Discontinued operations
(104)
(111)
(7)
Net Free Cash Flow
1,227
1,262
35
(1) Carrefour Taiwan reclassified as held for sale as per IFRS 5
(2) Excluding cost of debt and interest related to leases obligations
(3) Restated for Makro
FY 2022 RESULTS
Including exceptional tax
payment at the Bank in Brazil
(c.€110m)
Including c.€160m related to
Grupo BIG integration
Higher cost of debt driven by
high interest rates and
incremental debt, notably in R$
February 14, 2023
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