Metro AG unveils solid FY figures | Progresiv
The new Metro group has reported its first full-year figures following its demerger, unveiling solid growth for the period. For the year, overall sales were up 1.6% to 37.1 billion euros (+1.1% constant-currency basis), on like-for-like growth of 0.5%. Underlying operating profit was flat at 1.11 billion euros, although underlying pre-tax profit jumped up 10.9% to 896 million euros. 
The group was helped by a 3.6% rise in sales across Western Europe to 10.5 billion euros (-0.3% LFL), a 4.5% increase to 10.3 billion euros (+2.3% LFL) in Eastern Europe, and 2.3% growth to 4.37 billion euros (+4.7% LFL) in Asia. Those results helped offset a 2.6% decline to 11.96 billion euros in Germany (-1.7% LFL). Sales at the Wholesale unit were up 3% to 29.9 billion euros (+2.3% constant-currency basis), with LFL sales up 0.9%. The Real unit however recorded a 3.1% drop to 7.25 billion euros, with LFL sales down 1%.
Olaf Koch, Chairman of the Management Board, noted: “Our declared goal is to make our customers more successful and help them make their everyday work easier. We believe that digitisation offers huge opportunities, especially in the hospitality sector. The vast majority of restaurateurs has not yet caught on to using digital solutions. We want to change this and are now launching our digital solutions and services internationally.” (www.kamcity.com)
