Press Releases

METRO increases LFL sales by 1.2% in Q2, despite easter shift

05/09/2019

  • Like-for-like sales increased by 1.2% in Q2 2018/19
  • Growth driven by Eastern Europe (excluding Russia) and Asia with 6.8% and 3.6% respectively as well as HoReCa and Trader
  • EBITDA excluding earnings contributions from real estate transactions at €83 million (Q2 2017/18: €111 million)
  • Profit or loss for the period from continuing operations at €-34 million (Q2 2017/18: €-45 million)
  • Earnings per share for continuing operations slightly increased to €-0.09
  • Outlook for financial year 2018/19 confirmed
  • Sales process for hypermarket business starts finale stage, exclusivity with redos granted

Dusseldorf, 9 May 2019 - In Q2 2018/19, METRO AG’s like-for-like sales increased by 1.2% in comparison with the same quarter of the previous year. This was mainly driven by Eastern Europe (excluding Russia) and Asia. METRO’s sales increased by 1.6% in local currency. Despite the shift of the Easter business to April and thus to Q3 (in fiscal year 2017/18 it was in Q2), reported sales remained mainly constant at €6.8 billion. EBITDA excluding earnings contributions from real estate transactions reached a total of €83 million in Q2 2018/19 (Q2 2017/18: €111 million) and in the first half of fiscal year 2018/19 a total of €553 million (H1 2017/18: €615 million). Beside the Easter shift and the development of the operating business in Russia, the decline can be attributed to higher costs for digitalisation/IT. In addition, the negative development of the Russian and Turkish currencies had a negative impact on earnings. Currency adjusted EBITDA excluding earnings contributions from real estate transactions in H1 2018/19 declined by €-41 million (-6.9%) in comparison with the previous year. “Even with the Easter shift, METRO increased like-for-like sales in Q2 of the financial year 2018/19”, says Olaf Koch, Chairman of the Management Board of METRO AG. “Once again it has been shown that our increased focus on the target groups HoReCa and Trader is proving to be a growth driver for METRO. In addition, we have set the course for the sale of our hypermarket business and agreed exclusivity with redos.”

For further information please see the attached press release.