Comparison of forecast with actual business developments

Sales

For financial year 2013/14, METRO GROUP, adjusted for portfolio changes and based on the assumption of nearly consistent exchange rates, forecast a slight rise in overall sales. With an increase of 1.3 per cent, METRO GROUP exceeded this target.

In like-for-like sales, METRO GROUP expected a trend improvement and a level of sales that would roughly equal the previous year’s level. With a 0.1 per cent increase in like-for-like sales, this target was met.

For the sales lines METRO Cash & Carry and Media-Saturn, a slight gain in total sales measured in local currency was forecast. This guidance was met, as sales rose by 2.0 per cent and 0.8 per cent, respectively. On a like-for-like basis, sales in both sales lines were expected to remain at the previous year’s level. While METRO Cash & Carry boosted like-for-like sales by 1.0 per cent, these fell slightly by 0.9 per cent at Media-Saturn. At Real Germany and Galeria Kaufhof, like-for-like sales were also expected to remain at the previous year’s level. This figure declined slightly by 0.9 per cent at Real Germany and climbed by 0.5 per cent at Galeria Kaufhof.

EBIT

For EBIT before special items, METRO GROUP had forecast a distinct increase compared with the previous year’s €1.7 billion based on the assumption that exchange rates would remain virtually unchanged. The target was later specified at €1.75 billion at unchanged exchange rates. METRO GROUP’s actual EBIT before special items reached €1,727 million. The impact of markedly negative currency effects totalled €82 million. Furthermore, income from real estate made a positive contribution to earnings. As a result, METRO GROUP hit its target.

As forecast, EBIT before special items was largely determined by METRO Cash & Carry and Media-Saturn. Earnings at Media-Saturn rose sharply. In line with projections, the comparable earnings of METRO Cash & Carry rose slightly. As forecast, Real also achieved a slight increase due to income from real estate. Galeria Kaufhof almost achieved the previous year’s figure with a similar earnings level.