Metro : Good start in Q1 2024/25 with 7.1% sales growth
B4B.DE
Successful Q1 creates a good starting position for achieving ambitions in the financial year 2024/25
METRO increased its sales in Q1 2024/25by 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 MARKETSsales to €40 million(+17.1%). The growth was mainly due to the hospitality sector. Reported sales increased by 5.6% to €8.6 billionand 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 millioncompared 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 millionwere 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.
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 millioncustomers 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 MARKETSis 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 countriesand 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.
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Metro AG published this content on February 05, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 05, 2025 at 17:32:15.674.