- EBIT before special items rose to €14 million
- Sales adjusted for portfolio changes up by 0.7%
- Sales in Germany improved by 1.0%
- Sales from the delivery business at METRO Cash & Carry increased by around 16%
- Online sales of Media-Saturn grew by more than 60%
- Net working capital improved by €226 million, operating cash flow climbed by €89 million
- Sales and earnings outlook for stub financial year 2013 confirmed
Despite a persisting economic downturn in many European countries METRO GROUP started into the new financial year with improved earnings. EBIT before special items came in at €14 million up from €-8 million in the year-earlier quarter. This increase is in particular due to the earnings improvement at Media-Saturn, Real and the segment Other. Adjusted for portfolio changes (MAKRO Cash & Carry UK, Real Eastern Europe and Media Markt China), sales grew by 0.7%. "In many countries, our customers' purchasing power has been affected by the economic downturn and the related government austerity measures. However, we managed to improve our earnings and maintain our sales at a stable level year-on-year," said Olaf Koch, Chairman of the Management Board of METRO AG. "This shows that the changes we initiated on a broad front are gaining further traction. This is particularly apparent when looking at the development in our home market Germany where we again saw a rise in like-for-like sales."