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METRO delivers a successful stert into the new year
● Group's like-for like sales in Q1 2017/18 are above the previous year's level
● Sales of METRO Wholesale supported by the continually strong development in Eastern Europe and like-for-like growth in Germany
● Real reports solid Christmas business following a successful brand relaunch in November
● Sales development in Q1 2017/18 in line with the outlook for the full financial year 2017/18
According to preliminary and unaudited figures, METRO AG's like-for-like sales in the 1st quarter of 2017/18 have surpassed sales in the same period of the previous year. Olaf Koch, Chairman of the Management Board of METRO AG, stated: "We had a solid Christmas quarter in a challenging market environment. The group's sales in the first quarter are in line with our outlook for the full financial year; we remain committed to our guidance for the 2017/18 financial year".
· Positive like-for-like sales development at METRO Wholesale; stable development at Real, despite a reduced number of trading days
· Reported sales growth of +0.2% despite significant negative currency effects; growth of +1.5% in local currency
· In the previous year, the 'Others' segment included sales figures of the Real stores in Romania that have meanwhile been disposed. The 'Wholesale' segment did not yet include any sales figures of Pro à Pro
· Higher like-for-like sales growth despite negative effect of reduced trading days. (ie. lower number of trading days and shifted Chinese New Year celebrations)
o Supported by all regions, including Germany (approx. +2%)
o Negative LfL development (approx. -9%) vs. positive Q1 2016/17 reported for Russia
o HoReCa customers and food remain the main drivers behind the sales growth
· Reported sales growth of 0.6% was affected by adverse currency effects, in particular in Turkey and China
· The delivery business continues its successful development and further increases its contribution to overall sales
· Progress in the digitalisation of SMEs: Number of users has doubled since the announcement in December 2017
· As of 31 December 2017, the store network includes 760 stores, 9 stores more than on the same date in the previous year. In the 1st quarter of 2017/18, 3 stores were opened (1 in Russia, 2 in China) and 2 stores were closed (1 in Italy, 1 in Poland)
· Real starts the new financial year with a solid performance. Like-for-like sales on the level of previous year, despite significantly negative effect of reduced trading days o Several Non-Food Categories have shown positive development o Good development in Food categories, albeit in a highly competitive market
· Slight decline in reported sales partially driven by store closures in the previous year, as well as, the closure of one store in the current quarter
· Continued strong growth in the online business real.de
· Brand re-positioning and renovation of 9 stores with a stronger focus on food (especially ultrafresh and bio-product ranges), incorporating the experiences from Markthalle Krefeld
· As of 31 December 2017, the store network includes 281 stores, one store less than on the same date in the previous year (temporary closure of Aschaffenburg store)
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.
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