Capital management

The aim of the capital management strategy of METRO GROUP is to secure the company’s continued business operations, to enhance its enterprise value, to create solid capital resources to finance its profitable future growth and to provide for attractive dividend payments and capital service.

The capital management strategy of METRO GROUP has remained unchanged compared with the previous year.

Equity, liabilities and net debt in the consolidated financial statements

Equity amounts to €5,172 million (30/9/2014: €4,999 million), while debt amounts to €22,484 million (30/9/2014: €23,157 million). Net debt amounts to €2,527 million compared with €4,655 million as of 30/9/2014.

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€ million

30/9/2014

30/9/2015

1

Adjustment of previous year’s figures (see notes to the group accounting principles and methods)

2

Shown in the balance sheet under other financial and non-financial assets (current)

Equity

4,999

5,172

Liabilities1

23,157

22,484

Net debt

4,655

2,527

Borrowings (incl. finance leases)

7,068

7,366

Cash and cash equivalents according to the balance sheet

2,406

4,415

Short-term financial investments2

7

424

Local capital requirements

The capital market strategy of METRO GROUP consistently aims to ensure that the group companies’ capital resources comply with local requirements. During the current financial year, all external capital requirements were fulfilled. This includes, for example, adherence to a defined level of indebtedness or a fixed equity ratio.