METRO GROUP Annual Report 2013/14

Financial year 2013/14 was a challenging one for METRO GROUP, particularly in light of the current geopolitical situation. Nonetheless, we can look back on a satisfying year in this report – and not just because of the 50th anniversary of METRO Cash & Carry that we celebrated during the reporting period.

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Interview with the Chairman of the Management Board

We have made definite progress in every sales line by systematically focusing on our customer groups in the areas of product range, services and solution expertise. And this progress is reflected in our figures. In financial year 2013/14, the trend improved from quarter to quarter. We also realise that continued progress will not just happen on its own. It requires continuous optimisation. For this reason, one of our core jobs in the years to come will be to not only continue this transformation process, but also to intensify it.

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Earnings position

Earnings position 2013/14

EBIT before special items

€1,727 million

  • Sales at METRO GROUP climbed by 1.3 per cent in financial year 2013/14, adjusted for portfolio changes and currency effects
  • Reported sales for financial year 2013/14 decreased by 4.0 per cent to €63.0 billion (in local currency: –1.7 per cent).
  • EBIT before special items: €1,727 million, (2012/13: €2,000 million; comparable prior-year figure: €1.7 billion)
  • Net profit for the period before special items rose by 16.0 per cent to €673 million (2012/13: €580 million)
  • Earnings per share before special items increased by 24.7 per cent to €1.84 (previous year €1.47)

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Financial and asset position

Financial and asset position 2013/14

Cash flow

€2.0 billion

  • Net debt declined markedly by €0.7 billion to €4.7 billion (30/9/2013: €5.4 billion)
  • Investments totalled €1,209 million (2012/13: €1,175 million)
  • Cash flow from operating activities reached €2.0 billion (2012/13: €2.7 billion)
  • Total assets amounted to €28.0 billion; (30/9/2013: €28.8 billion)
  • Equity: €5.0 billion; (30/9/2013: €5.2 billion); equity ratio: 17.9 per cent (30/09/2013: 18.1 per cent)
  • Long-term rating of BBB– (Standard & Poor’s) and Baa3 (Moody’s)

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Outlook of METRO GROUP

Outlook of METRO GROUP 2014/15

The outlook is based on the current group structure and adjusted for currency effects. It also assumes a stable geopolitical situation.

Sales

For financial year 2014/15, METRO GROUP expects to see a slight rise in overall sales, despite the persistently challenging economic environment.

Earnings

We expect EBIT before special items to rise slightly above the €1,727 million achieved in financial year 2013/14, including usual levels of income from real estate sales.

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