Group sales 2011 slightly below prior-year level
- Financial market conditions not optimal
- Portfolio strategy remains unchanged
- Group sales of METRO GROUP 2011 in line with expectations
- International sales in local currency up by 0.4%
- EBIT guidance 2011 confirmed: EBIT before special items expected to come in slightly below prior-year level of €2.4 billion
METRO GROUP has suspended talks with interested parties for the takeover of its department store subsidiary, Galeria Kaufhof. This move was taken in view of the not optimal situation on the financial markets: "The present situation on the capital markets does not offer suitable conditions for such an important transaction", said Olaf Koch, CEO of METRO AG. At the same time, the Düsseldorf-based retailing group presented its preliminary sales figures for financial year 2011. Group sales declined by 0.8% to €66.7 billion and were thus in line with expectations. In local currency, sales reached the prior-year level (-0.2%). "Despite a good finish, the Christmas business was disappointing overall. Our online business, by contrast, developed gratifyingly", continued Koch. "In this important growth segment we made significant progress in all sales divisions". Yesterday also saw the launch of the Media Markt online shop.
