Overview of the short financial year 2013/14 and forecast

Earnings position

  • 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)

Financial and asset position

  • 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)

Outlook of METRO GROUP

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.

In like-for-like sales, METRO GROUP foresees a slight increase that will follow the reporting period’s small rise of 0.1 per cent.

Earnings

In financial year 2014/15, earnings development will also be shaped by the persistently challenging economic environment.

Nevertheless, METRO GROUP is confident that it can again achieve a slight earnings increase as a result of the progress it has made and will continue to make in transforming its business models. In addition, METRO GROUP will again closely focus on efficient structures and strict cost management in 2014/15.

For these reasons, 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.

Change of financial year

In 2013, METRO GROUP moved the end of its financial year from 31 December to 30 September. For transition purposes, financial year 2013 was a nine-month short financial year (1 January 2013 to 30 September 2013). The current financial year 2013/14 from 1 October 2013 to 30 September 2014 is once again a normal twelve-month financial year.

To ensure comparability in the combined management report, the previous year’s period refers to a twelve-month period for 2012/13 (1 October 2012 to 30 September 2013) which comprises the fourth quarter of 2012 as well as the short financial year 2013. Because the figures from the fourth quarter of 2012 were not reviewed by an auditor, the 2012/13 period is unaudited.