During the first quarter of financial year 2013/14, METRO GROUP markedly boosted its EBIT to €1,094 million from €985 million in Q1 2012/13. EBIT before special items finished the period under review at €1,073 million and, as forecast, below the level for the previous year's period (€1,273 million) mainly due to lower real estate income. Adjusted for currency and portfolio effects, group sales rose by 1.1%. "As expected, we generated more than half of our targeted full year EBIT in the important first quarter", said Olaf Koch, Chairman of the Management Board at METRO AG. "With this achievement, we have set a solid foundation for reaching our FY 2013/14 guidance and for successfully continuing METRO GROUP's transformation. Already today, we see a clear trend improvement in the like-for-like sales development and our important growth drivers - online and delivery sales - are growing dynamically. On the back of this, I am very confident that our progress in the coming quarters will be reflected in both our like-for-like sales development and our earnings."
In a persistently challenging economic environment, METRO GROUP generated sales of €18.7 billion during the first quarter of 2013/14 that covered the period of October through December 2013 (Q1 2012/13: €19.4 billion). The 3.3% decline resulted largely from currency effects and portfolio changes that have been completed and announced (Real Eastern Europe: Russia, Romania and Ukraine as well as Media Markt China). In local currency terms, however, METRO GROUP's sales were just 1.4% below the previous year's level. Sales adjusted for currency and portfolio effects rose by 1.1%. Sales produced by own brands, online retailing and the delivery business continued to grow: delivery sales shot up by 17.5% to
€0.7 billion. The sales share of own brands rose to 10.6% compared with 10.5% in the previous year's quarter. In Q1 2013/14, METRO GROUP generated online sales of €0.4 billion, up 47.2% on the previous year's quarter.
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