Investments / Divestments

In financial year 2018/19, METRO invested €499 million, considerably less than the investment amount in the previous year. The decline in investments is mainly due to a more selective expansion activity. With 3 new store openings in financial year 2018/19, it declined compared to the previous year (2017/18: 9 new store openings), which is attributable in particular to the development in Russia. 1 new METRO store was opened in the current financial year, compared to 4 stores in the previous year. The 2 additional new openings are a smaller and more cost-effective store format in Turkey and Croatia. There were no closures in financial year 2018/19.

In addition, the decrease in investments resulted, among other things, from special projects in financial year 2017/18, such as the expansion of the logistics network as well as project developments in Germany. These special projects were not offset by projects of a comparable magnitude in the reporting period. Further progress was also made in improving capital efficiency in the areas of concept conversions and delivery sales.

The investment focus in financial year 2018/19 included IT and digitalisation. Investments in these areas increased compared to the previous year. In addition to investments in the newly established online marketplace METRO MARKETS, above all digital services for wholesale customers and IT solutions for the delivery sales were further expanded.

Furthermore, an increase in lease extensions and investments in maintenance was recorded for the reporting year.

Proceeds of €505 million (2017/18: €271 million) were received from divestments (including disposals of subsidiaries, but excluding cash investments), resulting mainly from the disposal of properties.