Good start in Q1 2024/25 with 7.1% sales growth

05 February 2025Download

Successful Q1 creates a good starting position for achieving ambitions in the financial year 2024/25

METRO
  • Successful Q1 creates good starting position for achieving our ambitions for the financial year 2024/25:
    • Sales grow by 7.1% in local currency (currency and port-folio adjusted); reported sales increase by 5.6% to €8.6 billion
    • All segments and channels contribute to sales growth
    • Adjusted EBITDA increases slightly due to sales growth to €412 million (Q1 2023/24: €407 million)
  • Guidance for the financial year 2024/25 confirmed

METRO increased its sales in Q1 2024/25 by 7.1% in local currency. All segments, in particular the segment East, and all sales channels contributed to the growth driven by the consistent implementation of the sCore strategy. In local currency, sales in the store-based business increased to €6.4 billion (+4.5%), delivery sales to €2.1 billion (+15.3%) and METRO MARKETS sales to €40 million (+17.1%). The growth was mainly due to the hospitality sector. Reported sales increased by 5.6% to €8.6 billion and were affected by negative currency effects, particularly in Russia and Türkiye.

"In the first quarter of 2024/25, we continued our growth momentum despite a challenging market environment, with good sales performance across all segments and channels, which is having a positive impact on our earnings. This is mainly driven by our core target group of gastronomy. We have also made further progress in expanding our delivery and digital sales. This shows that our focus on professional customers and our multichannel business model are paying off. Our ambition is to continue this momentum in the further course of the year while at the same time increasing our focus on productivity and profitability”, said Dr Steffen Greubel, CEO of METRO AG.

Adjusted EBITDA increased slightly to €412 million (Q1 2023/24: €407 million) due to sales growth. Cost inflation continued to have an offsetting effect in Q1 2024/25. Adjusted for currency effects, adjusted EBITDA increased by €15 million compared to the same period of the previous year, driven particularly by growth in the Eastern, Russian and Western segments. In Germany, adjusted EBITDA declined slightly due to cost inflation and price investments. The Others segment was particularly affected by lower rental income at METRO PROPERTIES. Negative currency effects mainly occurred in Türkiye and Russia.

The earnings contribution from real estate transactions amounted to €1 million (Q1 2023/24: €28 million). In the previous year, the earnings contribution mainly included two real estate transactions in Türkiye. Transformation costs of €-5 million were incurred (Q1 2023/24: transformation income of €1 million). Overall, EBITDA fell to €408 million (Q1 2023/24: €436 million).

As of 31 December 2024, the store network comprised 623 stores, of which 522 were out-of-store (OoS), and 94 depots.

METRO sales channels and segments


Key sales figures

METRO Sales (€ million) Change (€) Currency effects Change (local currency)
Q1 2023/24 Q1 2024/25 Q1 2023/24 Q1 2024/25 Q1 2023/24 Q1 2024/25 Q1 2023/24 Q1 2024/25
Total
8,115 8,572 0.1% 5.6% -6.1% -1.5% 6.2% 7.1%
of which store-based and other business
6,209 6,399 -3.8% 3.0% -6.0% -1.5% 2.3% 4.5%
of which delivery
1,871 2,133 14.6% 14.0% -6.3% -1.3% 20.9% 15.3%
of which METRO MARKETS
34 40 61.7% 17.1% 0.0% 0.0% 61.7% 17.1%
Segments
Germany
1,389 1,410 3.4% 1.5% 0.0% 0.0% 3.4% 1.5%
West 3,339 3,493 5.6% 4.6% 0.0% 0.0% 5.6% 4.6%
Russia 684 694 -22.9% 1.4% -42.8% -6.9% 19.9% 8.4%
East 2,644 2,911 -0.7% 10.1% -5.9% -2.8% 5.2% 12.9%
Other 59 64 16.0% 8.4% 0.0% 0.0% 16.0% 8.4%


Key earnings figures

METRO Adjusted EBITDA1 Transformation costs (+), or transformation gains (-)1 Earnings contributions (+) from real estate
transactions
EBITDA

€ million
Q1
2023/24
Q1
2024/25
Change
(€)
Q1
2023/24
Q1
2024/25
Q1
2023/24
Q1
2024/25
Q1
2023/24
Q1
2024/25
Total 407 412 5 -1 5 28 1 436 408
Germany 66 59 -6 0 0 0 0 66 59
West 179 186 7 0 1 1 0 181 185
Russia 44 53 8 0 0 0 0 44 53
East 140 148 8 0 0 0 0 140 147
Other -22 -29 -7 -1 4 27 1 6 -32
Consolidation -1 -5 -4 0 0 0 0 -1 -5

1 New definition of adjusted EBITDA and transformation costs from 1 October 2024 (see Annual Report 2023/24), incl. prior-year adjustment.



METRO is a leading international food wholesaler which specialises in serving the needs of hotels, restaurants, and caterers (HoReCa) as well as independent resellers (Traders). Around the world, METRO has approx. 15 million customers who benefit from the wholesale company’s unique multichannel mix: customers can purchase their goods in one of the large stores in their area as well as by delivery (Food Service Distribution, FSD) – all digitally supported and connected. In parallel, METRO MARKETS is being developed as an international online marketplace for the needs of professional customers which has been growing and expanding continuously since 2019. Acting sustainably is one of the company principles of METRO which has been listed in various sustainability indices and rankings, including MSCI, Sustainalytics and CDP. METRO operates in more than 30 countries and employs over 85,000 people world-wide. In financial year 2023/24, METRO generated sales of €31 billion.

More information can be found at MPULSE.de, our online magazine.

Further information

Quarterly Statement 3M/Q1 2024/25
Quarterly Statement 3M/Q1 2024/25
Key financials FY 2021/22 - Q1 2024/25
Key financials FY 2021/22 - Q1 2024/25
METRO - Fact Sheet
METRO - Fact Sheet