Düsseldorf, December 14 – The wholesaler group Metro wants to increase its sales in the new financial year and once again offers its shareholders the prospect of a dividend. For the past year 2021/22 (as of the end of September), however, shareholders have come away empty-handed. In the medium term, CEO Steffen Greubel wants to further boost growth and raises his medium-term objectives,
In the last financial year 2021/22, Metro increased its sales by more than 20% to almost 30 billion euros, also due to rising inflation. All divisions of the Düsseldorf group increased. Adjusted operating income (Ebitda) soared to almost 1.4 (previous year: 1.2) billion euros, as Metro announced on Wednesday after the close of trading. In the end, the group recorded a loss of 331 (minus 45) million euros, earnings per share (EPS) were also negative – so there is no distribution for shareholders.
But that should change. “Growth will remain our objective in the coming year”, underlined Greubel. In 2022/23, sales are expected to increase by 5-10%, earnings per share are expected to turn positive again and a return to dividend payments is expected. Adjusted operating income (Ebitda) will contract from 75 to 225 million euros due to “inflation-related cost increases”.
Greubel has raised its medium-term objectives until 2024/25. Average sales growth is expected to be five to ten (previously: three to five) percent, and Ebitda is expected to increase five to seven (three to five) percent compared to FY 2020/21.
Greubel pushes Metro to focus on wholesale. To this end, he is expanding the business with the delivery of restaurants and hotels and linking the activities of the traditional branch more closely with the online activities of the Düsseldorf group. Metro has a network of locations with 661 stores and is still active in Russia after the Russian invasion of Ukraine. Sales there increased during the past financial year.
Metro promises increased sales and dividends
Cover photo: Source/image rights: METRO AG.
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