First-quarter 2016 revenue
• Difficult economic environment in oil-producing countries
• Complex market context for the Group in Maghreb
• Good start for the Retail activity launched in Abidjan in December 2015...
CFAO's first-quarter 2016 revenue reached €822.0 million, declining -2.7% on a reported basis and
-2.3% like-for-like compared to 2015 same period.
The main scope changes in first-quarter 2016 were the start of CFAO Retail activity included in the Consumer Goods business line (+€8.3 million) and the first-time consolidation of the Compagnie Mauritanienne de Distribution Automobile in the Equipment & Services business line (+€3.8 million). The total impact of all scope changes during Q1 was an increase in turnover of +€14.7 million.
Currency impacts on the translation of foreign revenue into euros were negative in Q1 at -€18.2 million. Most of the impact relates to the Equipment & Services business line, as some local currencies weakened against the euro, including the Zambian kwacha, the Kenyan shilling and the Algerian dinar.
Please find attached the entire press release hereafter.
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