German group Metro has created a higher turnover and EBIT in its short financial year, mostly thanks to rising online sales. The company expects to continue this positive trend in the following financial year.
Slight turnover increase for entire group
The EBIT for 2013 was 728 million euro, a 22 million euro increase compared to last year. Turnover grew 0.9 % to 45 billion euro, adjusted for currency effects. "In 2013, we achieved what we set out to do in terms of both, sales and EBIT", said Olaf Koch, chairman of the management board. "Especially the improved like-for-like sales trend is very encouraging. For the financial year 2013/14, we therefore expect to markedly exceed the adjusted EBIT before special items.”
“In many countries, we have further extended our market share. We will continue to pursue the transformation of Metro Group in financial year 2013/14 and support it in the perception of the public with a new brand appearance. In addition, we will also be celebrating the 50th anniversary of Metro Cash & Carry in 2014,” Koch added.
Metro’s profit before special items stood at 16 million euro, a severe drop compared to the same period in 2012. Profit in the first nine months of 2012 reached 165 million euro. When taking these special items into consideration, Metro had to take a 71 million euro loss, compared to a 14 million euro loss in 2012.
Cash & Carry grows, Real and Kaufhof drop
Flagship Metro Cash & Carry lost 2 % in sales, dropping down to 22.6 billion euro. Its British branch was sold off and if that is taken into account, turnover pretty much remained level compared to 2012. Metro Cash & Carry’s delivery service saw tremendous growth with 2 billion euro in sales, compared to 1.6 billion in 2012. Most territories had turnover growth: Eastern Europe was mainly pushed forward because of Russian and Turkish growth while the Asia/Africa region grew like-for-like sales 5.7 %.
Media-Saturn managed to consolidate its leadership position in most of its European countries. Sales grew 0.6 % to 14.4 billion euro, but without the ending of the Chinese branch, the growth would even have been 1.1 %. Online sales grew 75 %, which led to a total online turnover of 0.8 billion euro, nearly 6 % of Media-Saturn’s total turnover. Germany, its home market, also performed well: sales grew 3.1 %, reaching 6.7 billion euro.
Hypermarket chain Real lost 8.2 % in sales (to 7.3 billion euro), mostly because it divested in Russia, Romania and Ukraine. Like-for-like sales only dropped 2.1 %. Galeria Kaufhof closed 4 department stores last fiscal year, which led to a half percent loss in sales, ending up at 2.1 billion euro. Like-for-like sales grew 0.9 %, with the online sales even doubling to 24 million euro.
(Translated by Gary Peeters)