In financial year 2015/16, METRO GROUP invested €1,413 million, approximately the same amount as in the previous year. While the group further scaled back its expansion activities, it continued to strengthen its delivery business with the acquisition of Rungis Express and added new after-sales services to Media-Saturn’s offering with the acquisition of the repair and maintenance service provider RTS. Investments in lease extensions and concept and modernisation measures also increased. In this context, digital price tags were introduced in the German Media Markt and Saturn stores to advance digitisation at the point of sale. Overall, the reduced expansion activities are reflected in a smaller number of 55 store openings compared with 58 store openings in the previous year’s period.

Investments of METRO GROUP

 Download XLS (23KB)










€ million





METRO Cash & Carry

























In financial year 2015/16, METRO Cash & Carry invested €614 million and thus €136 million less than in the previous year’s period. The sales line further strengthened its delivery business in financial year 2015/16 by acquiring Rungis Express, a leading premium food supplier. The decline in investments compared with the previous year is primarily due to the acquisition of the Classic Fine Foods group in financial year 2014/15. Investments in concept and modernisation measures increased while investments in expansion were slightly lower. The expansion activities continued to focus on Russia and China where 5 and 4 new METRO Cash & Carry stores, respectively, were added to the existing store network. At the same time, METRO Cash & Carry continued its expansion in India by opening 5 new stores in that country. In addition, METRO Cash & Carry opened 3 new stores in Turkey, 2 in Croatia and 1 each in France, Italy and Belgium. In the context of a portfolio optimisation initiative, 11 stores were closed in Poland. The sales line closed 1 store each in Germany, Kazakhstan, Croatia and Romania. As announced, 19 stores in Vietnam were sold.

In financial year 2015/16, investments of Media-Saturn amounted to €406 million, €150 million more than in the previous year’s period. The increase primarily stems from the Germany-wide implementation of electronic shelf labels in Media Markt and Saturn stores as well as the acquisition of RTS. While the pace of expansion remained unchanged, investments in concept and modernisation measures increased. Media-Saturn continued its selective expansion (including new small formats) in Europe during the reporting period, opening 33 stores (previous year: 36) across the continent. The sales line opened 17 consumer electronics stores in Eastern Europe: 8 in Turkey, 5 in Poland, 2 in Russia and 1 each in Greece and Hungary. 8 new stores were added in Western Europe (excluding Germany), including 4 in Italy, 2 in Spain and 1 each in Austria and Switzerland. 8 stores were opened in Germany. As part of its portfolio optimisation efforts, Media-Saturn closed 17 stores during the financial year: 8 stores in Russia, 4 stores in Turkey, 3 stores in Italy and 1 store each in Germany and Poland.

Real invested €260 million in financial year 2015/16, €20 million more than in the previous year’s period. This increase is primarily due to lease extensions which more than offset the decline in investments in modernisation and concept changes. In the previous year, the latter had resulted from the refurbishment and modernisation of 57 stores across Germany in particular. As planned, Real closed 8 stores in Germany during financial year 2015/16.

Investments in the Others segment totalled €133 million in financial year 2015/16 (2014/15: €165 million) and related mostly to concept and modernisation measures as well as intangible assets. In addition, METRO GROUP’s investments in the start-up companies Orderbird and Shore are included in this segment.

Aside from the obligations resulting from the signing of the purchase contract for Pro à Pro, the obligations incurred for the acquisition of property, plant and equipment and intangible assets amount to €149 million.

For additional information, see the notes to the consolidated financial statements in no. 20 – other intangible assets and no. 21 – property, plant and equipment.

From divestments (including sales of subsidiaries as well as discontinued operations), METRO GROUP received cash and cash equivalents amounting to €1,080 million, which stemmed from the disposal of METRO Cash & Carry Vietnam, among others.

For more information about divestments, see the cash flow statement in the consolidated financial statements as well as the notes to the consolidated financial statements in no. 42 – notes to the cash flow statement.