Net financial result and taxes

€ million

 

2016/17

 

2017/18

Earnings before interest and taxes EBIT

 

833

 

823

Earnings share of non-operating companies recognised at equity

 

0

 

0

Other investment result

 

1

 

0

Interest income/expenses (interest result)

 

−128

 

−128

Other financial result

 

−32

 

−2

Financial result

 

−159

 

−130

Earnings before taxes EBT

 

674

 

693

Income taxes

 

−295

 

−235

Profit or loss for the period from continuing operations

 

379

 

458

Profit or loss for the period from discontinued operations after taxes

 

−34

 

−110

Profit or loss for the period

 

345

 

348

Net financial result

The net financial result from continuing operations primarily comprises the interest result of €−128 million (2016/17: €−128 million) and the other financial result of €−2 million (2016/17: €−32 million). Interest is at the level of the . The improvement in the other financial result by €30 million to €−2 million is primarily the result of more favourable currency exchange rates and the reversal of a liability from contingent consideration in the context of an acquisition.

  • For more information about the net financial result, see the notes to the consolidated financial statements in no. 6 to 9 – earnings share of operating/non-operating companies recognised at equity, no. 7 – other investment result, no. 8 – net interest income/interest expenses and no. 9 – other financial result.

€ million

 

2016/17

 

2017/18

Actual taxes

 

222

 

231

thereof Germany

 

(27)

 

(14)

thereof international

 

(195)

 

(217)

thereof tax expenses/income of current period

 

(217)

 

(252)

thereof tax expenses/income of previous periods

 

(5)

 

(−21)

Deferred taxes

 

73

 

4

thereof Germany

 

(−8)

 

(39)

thereof international

 

(81)

 

(−35)

 

 

295

 

235

Taxes

The reported income tax expenses of €235 million (2016/17: €295 million) are €60 million lower than in the previous year.

During the reporting period, the group tax rate for continuing segment is 33.9% (2016/17: 43.8%). The group tax rate is the ratio between recognised income tax expenses and earnings before taxes. Besides positive effects from tax rate changes abroad and lower impairment losses on deferred taxes, the comparatively low rate in the current financial year was especially due to lower expenses for risk provisioning and other one-time effects. The high rate of the previous year was influenced by expenses associated with the demerger, which did not result in reduced tax-expenses.

  • For more information about income taxes, see the notes to the consolidated financial statements in no. 11 – income taxes.

Profit or loss for the period and earnings per share

The profit for the period from continuing operations reached €458 million in financial year 2017/18, amounting to €79 million more than the profit for the ’s period (2016/17: €379 million).

The profit for the period from METRO’s continuing and discontinued operations reached €348 million in financial year 2017/18, amounting to €3 million more than the profit for the previous year’s period (2016/17: €345 million).

Net of of non-controlling interests, profit for the period attributable to the shareholders of METRO AG from continuing and discontinued operations amounts to €344 million (2016/17: €325 million). This represents an increase of €19 million. An improvement of €95 million resulted from continuing operations.

On this basis, METRO achieved a result of €0.95 per share from its continuing and discontinued operations in financial year 2017/18 (2016/17: €0.89), of which €1.25 came from continuing operations (2016/17: €0.99). The calculation for the reporting period was based on a weighted number of 363,097,253 shares. Profit for the period attributable to the shareholders of METRO AG was distributed according to this number of shares. There was no dilution from so-called potential shares in financial year 2017/18 or in the previous year.

This result forms the basis for the dividend recommendation.

 

 

 

 

 

 

 

 

Change

 

 

 

 

2016/17

 

2017/18

 

absolute

%

1

After non-controlling interests.

Profit or loss for the period from continuing operations

 

€ million

 

379

 

458

 

79

20.9

Profit or loss for the period from discontinued operations after taxes

 

€ million

 

−34

 

−110

 

76

Profit or loss for the period

 

€ million

 

345

 

348

 

3

0.9

Profit or loss for the period attributable to non-controlling interests

 

€ million

 

20

 

4

 

−16

−79.2

from continuing operations

 

€ million

 

(20)

 

(4)

 

−16

−79.0

from discontinued operations

 

€ million

 

(0)

 

(0)

 

0

−95.1

Profit or loss for the period attributable to the shareholders of METRO AG

 

€ million

 

325

 

344

 

19

5.9

from continuing operations

 

€ million

 

(359)

 

(454)

 

95

26.4

from discontinued operations

 

€ million

 

(−34)

 

(−110)

 

−76

Earnings per share (basic = diluted)1

 

 

0.89

 

0.95

 

0.05

5.9

from continuing operations

 

 

(0.99)

 

(1.25)

 

0.26

26.4

from discontinued operations

 

 

(−0.09)

 

(−0.30)

 

−0.21

Previous year
Period of 12 months, usually cited as reference for statements in an annual report.
Glossary
Previous year
Period of 12 months, usually cited as reference for statements in an annual report.
Glossary
EPS (Earnings per Share)
See earnings per share
Glossary