Comparison of forecast with actual business developments

Due to the negative development in Russia, which was already foreseeable in the middle of the financial year, and the negative effects resulting from the cancellation of the future collective agreement at Real, the Management Board of METRO AG adjusted its forecast on 20 April 2018.

The comparison with the forecast for financial year 2017/18 continues to refer to METRO including the hypermarket business.

For the past financial year, METRO had forecast a growth rate for total sales of at least 0.5% (originally 1.1%) based on the assumption of stable exchange rates. With an increase of 0.7% in local currency, METRO met this target. Like-for-like sales were forecast to grow by slightly more than 0.5% (originally also slightly more than 0.5%). With an increase of 0.7%, this target was met as well.

The Management Board of METRO AG expected a slight increase in EBITDA (adjusted for currency effects and excluding earnings contributions from real estate transactions) (originally by around 10%) compared to the figure of €1,436 million in financial year 2016/17. Adjusted for negative currency effects of €56 million, METRO’s EBITDA excluding earnings contributions from real estate transactions was €16 million or 1.2% higher than in the previous year.

METRO thus met its adjusted sales and earnings targets in financial year 2017/18.