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 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 €5,332 million (30/9/2015: €5,172 million), while debt amounts to €19,620 million (30/9/2015: €22,484 million). Net debt amounts to €2,301 million compared with €2,527 million as of 30/9/2015.

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€ million

30/9/2015

30/9/2016

1

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

Equity

5,172

5,332

Liabilities

22,484

19,620

Net debt

2,527

2,301

Financial liabilities (incl. finance leases)

7,366

4,759

Cash and cash equivalents according to the balance sheet

4,415

2,368

Short-term financial investments1

424

90

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.