Metro stays on course with double digit growth

Metro is doing well : the wholesaler’s revenue rose 11.8% in the past quarter. In fact, full-year sales were up 21.4%. The company claims to have a robust business model.

“Excellent position”

Currently not an oft-repeated statement, but Metro claims to be in “an excellent position”. At least to meet its target of 3-5% revenue growth and Ebitda increase by 2024/2025. Current financial year 2021/2022 has already been one of double digits: for the full year, revenue grew by 21.4%, which is at the upper end of expectations that have been raised twice.

In the past fourth quarter, sales grew 11.8%, courtesy of all regions and all channels. Both physical shops and delivery as well as online platform Metro Markets grew compared to last year. Volume also increased. The fact that last year was still plagued by the coronavirus helps, of course.

Robust model

Less favourable for sales but positive for profits is that Metro has gotten rid of loss-making Makro Cash & Carry Belgium since May. However, the company does not yet disclose exactly how much that profit amounts to. CEO Steffen Greubel does say that next year will be marked by high inflation and increasing cost pressure.

“Nevertheless, with our robust multichannel business model, we are ideally set to meet our customers’ needs. We remain on track and continue to invest in sustainable market share gains,” he confidently echoes.