German Metro Group's financial results show that its full-year turnover has dropped 1.2 % to 59.2 billion euro, but prior to exchange rate effects, it did experience a small turnover increase.
Strong online growth
Metro Cash & Carry is still the major contributor to Metro Group's turnover, with a 29.69 billion euro turnover, but the chain's turnover did drop 2.7 % over the past year. That drop can be attributed entirely to the exchange rate fluctuations, because if those are ignored, then turnover would have remained stable. Like-for-like turnover grew 0.9 % if exchange rate fluctuations are ignored.
Media-Saturn was able to present better results, with a 3.6 % turnover increase to 21.74 billion euro. On a like-for-like basis, turnover grew 3.1 % and particularly, the online branch performed very well, up 20 % to 1.8 billion euro. All in all, online sales contribute 8 % of turnover. One of Metro Group's chains did not manage to keep up, as Real dropped 8.3 % in turnover, down to 7.74 billion euro.
Metro Group's 2014/2015 profit was 714 million euro, a considerable increase on the 182 million euro from the year before. Selling off several divisions, including Galeria Kaufhof, definitely helped boost that profit. On a like-for-like basis, Metro Group's turnover did grow 1.5 % compared to the year before.
For its upcoming fiscal year, Metro Group expects a slight turnover increase, with a similar like-for-like turnover increase as this year.