METRO’s like-for-like sales grow 1.0% in Q1 2019/20

15 January 2020
According to preliminary and unaudited figures1, METRO AG’s like-for-like sales in the 1st quarter 2019/20 increased by 1.0% in comparison to the previous year. Total sales increased by 2.2% to €7.5 billion supported by positive currency effects. Total sales in local currency grew by 1.0%.
  • Continuing strong like-for-like development in Eastern Europe (5.0%) and Asia (3.2%)
  • Germany like-for-like slightly below previous year (-0.4%), Western Europe (without Germany) with slight increase (0.5%)
  • In Russia like-for-like sales declined by -5.3%; slight trend improvement vs. Q4 2018/19 (-6.3%)
  • Total sales increased by 2.2% supported by positive currency effects
  • METRO confirms sales and EBITDA outlook for the financial year 2019/20

“In the first quarter 2019/20, METRO continued to grow in the majority of the regions despite difficult macroeconomic and political conditions in some countries, for example the national general strikes in France. We confirm the outlook for the financial year 2019/20”, says Olaf Koch, Chairman of the Management Board of METRO AG. “Furthermore, the sales processes of the hypermarket business and METRO China are progressing according to plan.”

1 Financial figures for continuing operations, excl. Real and excl. METRO China.


METRO

METRO Q1 2018/19 Q1 2019/20
Sales (€ billion) 7.4 7.5
Change (€) -1.0% 2.2%
Change (local currency) 1.9% 1.0%
Like-for-like (local currency) 2.1% 1.0%

Segments

METRO Sales (€ billion) Change (€) Change
(local currency)
Like-for-like
(local currency)

Q1 2018/19 Q1 2019/20 Q1 2018/19 Q1 2019/20 Q1 2018/19 Q1 2019/20 Q1 2018/19 Q1 2019/20
Total 7.4 7.5 -1.0% 2.2% 1.9% 1.0% 2.1% 1.0%
Germany 1.4 1.3 -1.3% -0.4% -1.3% -0.4% -0.2% -0.4%
Western Europe (excl. Germany) 2.9 2.9 1.2% 0.4% 1.2% 0.4% 1.0% 0.5%
Russia 0.8 0.8 -11.9% 2.5% -2.8% -4.9% -2.4% -5.3%
Eastern Europe (excl. Russia) 1.9 2.0 0.8% 6.1% 6.3% 5.1% 6.4% 5.0%
Asia 0.4 0.5 3.0% 5.2% 9.8% 3.4% 7.4% 3.2%

Sales driver Eastern Europe and Asia

METRO AG’s like-for-like sales in Q1 2019/20 increased by 1.0% in comparison to the previous year, driven by the positive development in Eastern Europe (without Russia), Asia and Western Europe (without Germany). Eastern Europe (5.0%) and Asia (3.2%) showed a continuing strong growth, although Classic Fine Foods was affected by the demonstrations in Hong Kong. In Russia, like-for-like sales decreased by -5.3%, however, a slight trend improvement versus Q4 2018/19 was achieved.

In Germany like-for-like sales slightly decreased by -0.4%, impacted by a regulation change in tobacco. In Western Europe (without Germany), despite the national general strikes in France, like-for-like sales slightly increased by 0.5%. Sales growth was driven by Food categories and the customer groups HoReCa (Hotels, Restaurants, Catering) and Trader in the majority of countries. The delivery business continued to grow and the sales share further increased.

As of 31 December 2019, the store network includes 679 stores, 3 stores more than on the same date in the previous year. In Q1 2019/20, 1 store was opened in the Ukraine.

 

Disclaimer

This sales report contains preliminary, unaudited figures and forward-looking statements. These statements are based on certain assumptions and expectations held at the time this report is published. Preliminary figures and forward-looking statements are therefore subject to risks and uncertainties and may significantly deviate from the actual results. With regard to forward-looking statements in particular, risks and uncertainties are to a large extent determined by factors that are outside of METRO’s sphere of influence and that can currently not be estimated with an adequate degree of certainty. These factors include, inter alia, future market conditions and economic developments, the actions of other market participants, the utilisation of anticipated synergy effects as well as legislative and political decisions.

METRO does not consider itself obliged to publish any corrections to these forward-looking statements for the purpose of adjusting them to events or circumstances that eventuate after the publishing date of these materials.

 

METRO is a leading international wholesale company with food and non-food assortments that specialises on serving the needs of hotels, restaurants and caterers (HoReCa) as well as independent traders. Around the world, METRO has some 16 million customers who can choose whether to shop in one of the large-format stores, order online and collect their purchases at the store or have them delivered. METRO in addition also supports the competitiveness of entrepreneurs and own businesses with digital solutions and thereby contributes to cultural diversity in retail and hospitality. Sustainability is a key pillar of METRO’s business. METRO has been the European sector leader in the Dow Jones Sustainability Index. The company operates in 34 countries and employs more than 100,000 people worldwide. In financial year 2018/19, METRO generated sales of €27.1 billion. In October 2019, METRO AG signed an agreement to sell a majority stake in METRO China. In September 2018 METRO initiated the divestment process for the food retail chain Real with its 34,000 employees.