Metro dampens profit expectations for day-to-day business
DÜSSELDORF (dpa-AFX) – The weakness of the Russian ruble and the Turkish lira resulted in a decline in sales for the wholesaler Metro (METRO (St)) in the summer. For the entire past financial year, the management board now expects an operating profit adjusted for special items (adjusted Ebitda) in the lower half of the previous target range, as the SDAX-listed company announced on Thursday evening in Düsseldorf. Accordingly, the result of almost 1.4 billion euros in the 2021/2022 financial year is likely to fall by 150 to 225 million euros after adjusting for exchange rates. Metro also cited higher costs for the security of its computer systems in light of a cyberattack a few months ago.
In the fourth quarter to the end of September, the group’s revenue fell by 1.1 percent year-on-year to 7.9 billion euros. If the exchange rate had remained stable, revenue would have increased by 5.4 percent. In the entire past financial year, the wholesale group still had an unadjusted increase in sales of 2.7 percent to 30.6 billion euros. Analysts on average had expected a slightly stronger increase./stw/he
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