Overview of the financial year 2014/15 and outlook

Earnings position

  • METRO GROUP’s like-for-like sales climbed by 1.5 per cent in financial year 2014/15
  • Due to negative currency and portfolio effects, reported sales for financial year 2014/15 decreased by 1.2 per cent to €59.2 billion (in local currency: +0.5 per cent)
  • EBIT from continuing operations before special items: €1,511 million (2013/14: €1,531 million)
  • Profit or loss for the period before special items: €688 million (2013/14: €673 million)
  • Earnings per share before special items improved to €1.91 (2013/14: €1.84)

Financial and asset position

  • Net debt declined by €2.2 billion to €2.5 billion (30/9/2014: €4.7 billion)
  • Investments totalled €1.4 billion (2013/14: €1.0 billion)
  • Cash flow from operating activities reached €1.8 billion (2013/14: €2.0 billion)
  • Total assets amounted to €27.7 billion (30/9/2014: €28.2 billion)
  • Equity: €5.2 billion (30/9/2014: €5.0 billion); equity ratio: 18.7 per cent (30/9/2014: 17.8 per cent)
  • Long-term rating: BBB- (Standard & Poor’s)

Outlook of METRO GROUP

The forecast is based on the current group structure and refers to currency-adjusted figures. In addition, it is based on the assumption of a persistently complex geopolitical environment.

Sales

For financial year 2015/16, METRO GROUP expects to see a slight rise in overall sales, despite the continuously challenging economic environment.

In like-for-like sales, METRO GROUP foresees another slight increase that will follow the reporting year’s rise of 1.5 per cent. The sales lines METRO Cash & Carry and Media-Saturn in particular are expected to contribute to both total sales and like-for-like sales growth; we expect the Real sales line to improve its performance compared with the past financial year.

Earnings

In financial year 2015/16, earnings development will also be shaped by the persistently challenging economic environment.

Nevertheless, METRO GROUP is confident that it can again achieve an earnings increase as a result of the progress it has made and will continue to make in transforming its business models. Aside from operational improvements, METRO GROUP will again closely focus on efficient structures and strict cost management in this context in financial year 2015/16.

For these reasons, we expect EBIT before special items to rise slightly above the €1,511 million achieved in financial year 2014/15, including income from real estate sales. METRO Cash & Carry and Media-Saturn in particular are expected to contribute to this development, while the development of the Real sales line will depend on the successful implementation of the measures that have been initiated.