Capital structure
As of 30 September 2021, the METRO balance sheet reports equity in the amount of €1.8 billion (30/9/2020: €2.0 billion).
Reserves retained from earnings were mainly reduced due to dividend payments for financial year 2019/20 in the amount of €−254 million, as well as profit or loss for the period attributable to shareholders of METRO AG in the amount of €−56 million. This was mainly offset by currency translation differences in equity in the amount of €110 million, particularly due to the development of the rouble. The equity ratio stands at 14.4% (30/9/2020: 15.5%).
Negative reserves retained from earnings are not due to a history of loss but mainly due to reclassification of the equity item net assets attributable to the former METRO GROUP, recognised in the combined financial statements of the MWFS GROUP as of 1 October 2016, to the legally defined equity items.
€ million |
Note no. |
30/9/20201 |
30/9/2021 |
||
|---|---|---|---|---|---|
Equity |
2,039 |
1,847 |
|||
Share capital |
|
363 |
363 |
||
Capital reserve |
|
5,048 |
5,048 |
||
Reserves retained from earnings |
|
−3,380 |
−3,585 |
||
Equity before non-controlling interests |
|
2,031 |
1,826 |
||
Non-controlling interests |
|
8 |
21 |
||
|
|||||
- For more information about our equity, see the notes to the consolidated financial statements in the number listed in the table.
Net debt decreased by €0.3 billion and amounts to €3.5 billion as of 30 September 2021 (30/9/2020: €3.8 billion). The cash and cash equivalents remained nearly constant at €1.5 billion (30/9/2020: €1.5 billion). By contrast, financial liabilities decreased by €0.4 billion to €5.0 billion (30/9/2020: €5.3 billion).
€ million |
30/9/2020 |
30/9/2021 |
||
|---|---|---|---|---|
Cash and cash equivalents |
1,525 |
1,474 |
||
Current financial investments1 |
19 |
13 |
||
Financial liabilities (incl. liabilities from leases) |
5,314 |
4,954 |
||
Net debt |
3,771 |
3,466 |
||
|
||||
As of 30 September 2021, METRO’s non-current liabilities amount to €4.6 billion (30/9/2020: €5.5 billion). Financial liabilities decreased by €0.7 billion to €3.8 billion, since many of them came due.
As of 30 September 2021, METRO’s current liabilities amount to €6.3 billion (30/9/2020: €5.6 billion). Financial liabilities increased by €0.4 billion to €1.2 billion. Trade liabilities increased by €0.3 billion to €3.5 billion, mainly due to changes in purchasing volumes. The increase in income tax liabilities is mainly attributable to the planned country exit of Japan. A correspondingly opposite effect led to an increase in deferred tax assets.
Compared to 30 September 2020, the debt ratio increased from 84.5% by 1.1 percentage point to 85.6%.
- For more information about the maturity, currency and interest rate structure of financial liabilities as well as the credit facilities, see the notes to the consolidated financial statements in no. 35 – Financial liabilities.
€ million |
Note no. |
30/9/2020 |
30/9/2021 |
|---|---|---|---|
Non-current liabilities |
|
5,506 |
4,646 |
Provisions for post-employment benefits plans and similar obligations |
550 |
531 |
|
Other provisions |
139 |
155 |
|
Financial liabilities |
4,541 |
3,798 |
|
Other financial and other non-financial liabilities |
210 |
78 |
|
Deferred tax liabilities |
66 |
83 |
|
Current liabilities |
|
5,625 |
6,327 |
Trade liabilities |
3,199 |
3,476 |
|
Provisions |
287 |
290 |
|
Financial liabilities |
773 |
1,155 |
|
Other financial and other non-financial liabilities |
1,175 |
1,128 |
|
Income tax liabilities |
184 |
277 |
|
Liabilities related to assets held for sale |
7 |
0 |
- For more information about the development of liabilities, see the notes to the consolidated financial statements in the numbers listed in the table. Information about contingent liabilities and other financial liabilities can be found in the notes to the consolidated financial statements in no. 44 – Contingent liabilities and no. 45 – Other financial commitments.