1 Overview of financial year 2018/19 and outlook
As a result of the sale of the majority interest in METRO China (signed on 11 October 2019), METRO China will be reported as a discontinued operation in accordance with IFRS 5 as of 30 September 2019; previous year’s income statement, cash flow statement and segment reporting figures have been adjusted accordingly.
Unless expressly stated otherwise, all presentations in the combined management report refer to continuing operations (excluding the hypermarket business and excluding METRO China).
Only the comparison of outlook with actual business developments as well as the dividend proposal refer to the outlook issued for 2018/19 which includes METRO China.
Furthermore, the results for the financial year are reported before IFRS 16 adjustments. A first indication will be published in the consolidated financial statements – notes to the group accounting principles and methods of this Annual Report 2018/19, while a complete adjustment will be made available in January 2020.
- Like-for-like sales increased by 2.1%; reported sales rose by 1.1% to €27.1 billion (in local currency: +2.2%)
- EBITDA excluding earnings contributions from real estate transactions was at €1,021 million (2017/18: €1,088 million); reported EBITDA reached €1,359 million (2017/18: €1,216 million)
- Profit or loss for the period (from continuing operations) amounted to €411 million (2017/18: €359 million)
- Earnings per share (continuing operations): 1.12 € (2017/18: 0.98 €)
- For continuing and discontinued operations, profit or loss for the period amounted to €−115 million (2017/18: €337 million) and earnings per share to €−0.35 (2017/18: €0.92)
Financial and asset position
- Net debt decreased to €2.9 billion in adjusted year-on-year comparison (30/9/2018: €3.1 billion)
- Investments totalled €0.5 billion (2017/18: €0.6 billion)
- Cash flow from operating activities reached €0.8 billion (2017/18: €0.8 billion)
- Total assets (continuing and discontinued operations) amounted to €14.5 billion (30/9/2018: €15.2 billion)
- Equity (continuing and discontinued operations): €2.7 billion (30/9/2018: €3.1 billion)
- Long-term rating: BBB- (Standard & Poor’s)