METRO GROUP records solid Christmas quarter

10 January 2017

  • Like-for-like sales in Q1 2016/17 on prior year level
  • METRO Cash & Carry increases like-for-like sales
  • Stable sales at Media-Saturn
  • Positive reception for new concept at Real store in Krefeld

According to preliminary and unaudited figures, METRO GROUP matched its like-for-like sales of the previous year in the first quarter of 2016/17. "All in all we performed solidly in the Christmas quarter in a challenging market environment. We maintain our forecast for the financial year 2016/17," said Olaf Koch, Chairman of the Management Board of METRO AG.

 

METRO GROUP

METRO GROUP Q1 2015/16 Q1 2016/17
Sales (€ billion) 17.1 17.0
Change(€) -1.3% -0.6%
Change (in local currency) 0.1% -0.4%
Like-for-like 0.1% 0.1%
  • The previous year included sales of €0.1 billion from METRO Cash & Carry Vietnam, which has since been sold; adjusted for this portfolio effect, business in the Christmas quarter developed positively
  • Positive like-for-like development of METRO Cash & Carry; Media-Saturn on prior year level; declining sales at Real
  • Slightly negative exchange rate effects overall

 

Sales line development in Christmas quarter 2016

METRO Cash & Carry

METRO Cash & Carry Q1 2015/16 Q1 2016/17
Sales (€ billion) 8.0 8.0
Change (€) -2.0% -0.3%
Change (in local currency) 0.4% -0.1
Like-for-like 0.2% 0.7%
  • The decline in sales due to the disposal of METRO Cash & Carry in Vietnam could almost be compensated
  • The Russian rouble was in strong shape while currencies in other countries such as Turkey had a negative impact on sales
  • Sales in Germany, Belgium and the Netherlands declined due to the ongoing transformation and the challenging market environment. By contrast, like-for-like sales in Spain, Turkey and China performed well
  • Like-for-like sales growth in Russia despite more intense price competition
  • The delivery business continued to develop successfully and the percentage share of sales rose once again

 

Media-Saturn

Media-Saturn Q1 2015/16 Q1 2016/17
Sales (€ billion) 6.9 6.9
Change (€) 0.2% 0.0%
Change (in local currency) 1.1% 0.3%
Like-for-like 0.4% 0.0%
  • Slight sales growth in local currency; stable like-for-like development
  • Sound sales performance in October and November; December, however, was impacted by the reduced sales concentration around the Christmas time, as indicated by advanced purchases (“Black Friday”) and positive effects in the first week of January
  • Despite the closure of five Redcoon websites, online generated sales grew by more than 25%, with the pick-up option again being the main driver
  • Sales in services & solutions with double-digit growth rate, particularly as a result of strong demand for repair and installation services and warranty extensions
  • Overall, declines in sales of entertainment, photo and IT hardware products were roughly offset by positive growth in smartphones, white goods and TVs as well as strongly rising sales in services & solutions

 

Real

Real Q1 2015/16 Q1 2016/17
Sales (€ billion) 2.1 2.1
Change (€) -3.9% -4.0%
Like-for-like -1.6% -1.7%
  • Sales declined also due to store closures
  • Weak start into the Christmas quarter with stabilisation in December due to positive development of non-food in particular but also due to a rise in online sales
  • Food sales impacted more intense competitive environment
  • Opening of Markthalle Krefeld in November: market-style character with special culinary offers gathering positive feedback and boosting customer frequency considerably

 

METRO GROUP is one of the most important international retailing companies. It generated sales of some €58 billion in financial year 2015/16. The company operates at more than 2,000 locations in 29 countries and employs some 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

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