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Letter to our shareholders Content
Annual Report 2007
METRO Group
- Annual Report
pdf (4.0 MB) - The Group's financial statements pdf (459 KB)
- Subsidiary List of METRO AG according to Section 313 HGBpdf (115 KB)
METRO AG
- Annual Financial Statements pdf (1.8 MB)
- Subsidiary List of METRO AG according to Section 285 HGB pdf (201 KB)
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Goals 2007 |
Results 2007 |
Goals 2008 |
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Sales In the financial year 2007, we originally expected sales growth of 8 to 9 percent including the acquisitions of Wal-Mart Germany and the Polish Géant business. At the end of October, we raised our sales forecast to more than 9 percent. |
METRO Group boosted its sales adjusted for Extra and including the Wal-Mart/Géant transactions by 10.4 percent to €64.3 billion. Including Extra, the sales increase stood at 10.0 percent. |
In the context of our strategy of profitable growth, we project sales growth of more than 6 percent for METRO Group during the current financial year 2008 as well as over the medium term. |
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EBIT We projected an increase in EBIT of 6 to 8 percent based on EBIT adjusted for the effects of Real’s repositioning including the acquisitions of Wal-Mart Germany and Géant in Poland. |
Group EBIT adjusted for the divestment of Extra reached €2,098 million, exceeding the comparable previous year’s level by 8.8 percent. Including Extra, EBIT increased by 8.0 percent from the comparable previous year’s level. |
EBIT before special items is expected to increase disproportionately to sales. |
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Investments Investments in the existing sales network including the conversion of Wal-Mart stores into Real as well as organic expansion were scheduled to amount to about €2.5 billion in 2007. |
Investments in existing concepts including the conversion of the Wal-Mart stores and organic growth rose by €0.2 billion to €2.2 billion. |
Our investments are expected to match the previous year’s level and will be focused primarily on our continued international expansion. |
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New store openings In 2007, we published the following medium-term forecast for the average number of new store openings per year: |
In 2007, the sales brands of METRO Group opened 133 new locations – 32 Metro Cash & Carry stores, 16 Real hypermarkets, 84 Media Markt and Saturn consumer electronic centres and one Galeria Kaufhof department store. |
In 2008, we continue to expect an average of 40 new store openings at Metro Cash & Carry, 15 at Real and more than 70 at Media Markt and Saturn over the next few years. |
Profile of METRO Group
METRO Group is one of the world’s largest and most international retailing companies. Around 280,000 employees from more than 150 nations work at 2,221 locations in 31 countries in Europe, Asia and Africa. Our sales brands prove their trading skills every single day.
The sales brands at a glance
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* Annual average of full-time equivalent Metro Cash & Carry is the world’s market leader in cash & carry. Under the brands of Metro and Makro, our biggest and most international sales division does business in 29 countries. Its assortment is aimed exclusively at commercial and wholesale customers.
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* Annual average of full-time equivalent Real is the market leader for hypermarkets in Germany and Poland. With chain stores in Germany, Poland, Romania, Russia and Turkey, Real employs a large-scale hypermarket concept.
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* Annual average of full-time equivalent Europe’s No. 1 in consumer electronics centres: the sales brands of Media Markt and Saturn succeed with innovative, powerful and large-scale sales and marketing concepts. For years, both have been generating dynamic growth and rigorously extending their leadership across Europe.
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* Annual average of full-time equivalent Galeria Kaufhof is the concept and system leader in Germany’s department store segment and the market leader in Belgium. The sales division’s department stores enrich shopping areas and downtown centre with a high-quality assortment – emotionally presented.
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METRO Group in figures *
* Continuing operations only (discontinued operations: Praktiker in 2005, Praktiker and Extra in 2006, Extra in 2007)
2 Adjustment of prior-year amounts due to preliminary accounting for business combinations in 2006
3 In 2006 adjusted for the effects from the repositioning of Real, including the acquisition of the Wal-Mart Germany group and the Polish Géant business; €80 million was adjusted in EBIT/EBITDA, of which Real accounted for €51 million and other companies for €29 million
4 Including discontinued operations
5 After minorities
6 In 2005 before write-downs on deferred taxes on loss carry-forwards at Real Germany; in 2006 adjusted for the effects of the repositioning of Real, including the acquisitions of the Wal-Mart Germany group and the Polish Géant business; in 2007 adjusted for special tax effects
7 Subject to approval by the Annual General Meeting
Disclaimer
This annual report contains forward-looking statements that are based on certain assumptions and expectations at the time of its publication. These statements are therefore subject to risks and uncertainties, which means that actual results may differ substantially from the future-oriented statements made here. Many of these risks and uncertainties are determined by factors that are beyond the control of METRO Group and cannot be gauged with any certainty at this point in time. This includes future market conditions and economic developments, the behaviour of other market participants, the achievement of expected synergy effects as well as legal and political decisions. METRO Group does not feel obliged to publish corrections of these forward-looking statements to reflect events or circumstances that have occurred after the publication date of this material.
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