Groupe Casino - Q1 2020 additional financial information - Seite 3

In France, the €257m March 2020 bonds were redeemed at maturity using the Segregated account (€193m) and available cash (€64m), and not refinanced.

Additional information regarding covenants and segregated accounts:

Covenants tested as from March 31st 2020 pursuant to the €2bn Revolving Credit Facility dated 18 November 2019
Type of covenant (France and E-commerce)	Level as at March 31st 2020
Gross Financial Debt / Adjusted EBITDA(1) < 7.75x(2)	6.77x
Adjusted EBITDA(1) / Net finance costs > 2.25x	4.61x

(1) Adjusted Consolidated EBITDA including leases
(2) 7.75x at 31 March 2020, 7.50x at 30 June 2020, 7.25x at 30 September 2020, 5.75x at 31 December 2020, 6.50x at 31 March 2021, 6.00x at 30 June 2021 and 30 September 2021, and 4.75x as from 31 December 2021

Covenant metrics tested as of end March 2020 do not yet reflect the impact of the Leader Price and Vindemia disposals, which represent a combined positive impact of c.1 turn on leverage.

The Group confirms that €192.7m was debited from the Segregated Account during the Financial Quarter ended 31^st March 2020 in order to repay part of March 2020 bond maturity and its balance stood at €0 as at March 31^st 2020.

No cash has been credited or debited from the Bond Segregated Account and its balance remained at €0.

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ANALYST AND INVESTOR CONTACTS

Régine GAGGIOLI – [phone]
[e-mail]

or

[phone]
[e-mail]

 PRESS CONTACTS
Casino Group – Direction of Communication
Stéphanie ABADIE - [e-mail] - [phone]

or

[phone] - [e-mail]

Agence IMAGE 7
Karine ALLOUIS – Tel : [phone] - [e-mail]
Franck PASQUIER – Tel : [phone] - [e-mail]

 

Disclaimer

This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. All the opinions expressed herein are subject to change without notice.

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¹ Organic and same-store changes exclude fuel and calendar effects. Net sales and total and organic growth are impacted by the store disposals and closures carried out in 2019

Attachment

• 2020.05.15 - Q1 2020 Additional financial information