4G 18:51 carrefour.docx 1. Analyze carrefour's competitive and corporate strategy. What are the key risks of the company's strategy? 2. Analyze carrefour's accounting. Are any adjustments to carrefour's financial statements necessary? How would account for the spin-off of Dia 3. Analyze carrefour's operating management, financial management and investment management during the years 2008 to 2011, making use of both financial statement data and segment data. What are the primary drivers of the company's performance decline since 2008? How does carrefour's performance compare to the performance of Casino and Tesco? 4. Summarize the key findings of the financial analysis. What explains carrefour's decision to cut its dividends in 2011? 5. Taking into account management's outlook for 2012(and making some simplifying assumptions about future margins and turnover), estimate carrefour's 2012 free cash flow. How likely is it that Carrefour will be able to pay out (at least) 52 cents in dividends in 2012? What actions could management take to improve the company's ability to pay out dividends? 4G 18:51 carrefour.docx 1. Analyze carrefour's competitive and corporate strategy. What are the key risks of the company's strategy? 2. Analyze carrefour's accounting. Are any adjustments to carrefour's financial statements necessary? How would account for the spin-off of Dia 3. Analyze carrefour's operating management, financial management and investment management during the years 2008 to 2011, making use of both financial statement data and segment data. What are the primary drivers of the company's performance decline since 2008? How does carrefour's performance compare to the performance of Casino and Tesco? 4. Summarize the key findings of the financial analysis. What explains carrefour's decision to cut its dividends in 2011? 5. Taking into account management's outlook for 2012(and making some simplifying assumptions about future margins and turnover), estimate carrefour's 2012 free cash flow. How likely is it that Carrefour will be able to pay out (at least) 52 cents in dividends in 2012? What actions could management take to improve the company's ability to pay out dividends