1 Overview of financial year 2020/21 and outlook

From financial year 2020/21 onwards, the differentiation of reporting into continuing and discontinued operations in accordance with 5 will no longer apply, since the disposal of the majority stake in METRO China and the hypermarket business was completed in financial year 2019/20. The subsequent presentations in the reporting period therefore refer to the group units that were reported as continuing operations in the .

During financial year 2020/21, the METRO portfolio was changed through smaller acquisitions and country exits that were decided and initiated:

Acquisitions:

  • Davigel in Spain, initial consolidation on 1 January 2021, part of the segment METRO Western Europe (excluding Germany), €13 million sales contribution in financial year 2020/21 since consolidation
  • Aviludo in Portugal, initial consolidation on 1 March 2021, part of the segment METRO Western Europe (excluding Germany), €74 million sales contribution in financial year 2020/21 since consolidation

Country exits:

  • Japan: Discontinuation of the operational business at the end of October 2021, one-time negative effect of €39 million on in Q4 2020/21 ()
  • Myanmar: Discontinuation of the operational business at the end of October 2021, one-time negative effect of €2 million on EBITDA in Q4 2020/21 (transformation costs)
  • Classic Fine Foods Philippines: Discontinuation of the operational business at the end of October 2021, one-time negative effect of €4 million on EBITDA in Q4 2020/21 (transformation costs)

Earnings position

  • Sales in local currency were at the same level as the previous year (0.0%); like-for-like sales decreased by −0.4% and reported sales decreased by −3.4% to €24.8 billion
  • Adjusted EBITDA was €1,171 million (2019/20: €1,158 million). Transformation costs of €65 million (2019/20: €47 million) were incurred; earnings contributions from real estate transactions reached €60 million (2019/20: €3 million). The reported EBITDA reached €1,166 million (2019/20: €1,113 million)
  • The profit or loss for the period was €−45 million (2019/20: €−140 million continuing operations)
  • : €−0.15 (2019/20: €−0.40); in financial year 2019/20 earnings per share for discontinued operations were €1.67 and included transaction proceeds

Financial and asset position

  • The was reduced to €3.5 billion (30/9/2020: €3.8 billion)
  • Investments amounted to €0.8 billion (2019/20: €0.6 billion)
  • Cash flow from operating activities reached €1.2 billion (2019/20: €0.6 billion)
  • The balance sheet total amounts to €12.8 billion (30/9/2020: €13.2 billion)
  • Equity: €1.8 billion (30/9/2020: €2.0 billion)
  • Long-term : BBB− (Standard & Poor’s)
IFRS (International Financial Reporting Standards)
Internationally applicable rules for financial reporting developed by the IASB. Contrary to the accounting rules under the German Commercial Code, the IFRS emphasise the informational function.
Glossary
Previous year
Period of 12 months that is usually cited as a reference for statements in the annual report and refers to the financial year preceding the reporting year.
Glossary
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation)
Profit or loss before financial result, income taxes, depreciation/amortisation/impairment losses/reversals of impairment losses on property, plant and equipment, intangible assets and investment properties. This key figure serves the purpose of comparing companies with accounting systems that follow different accounting rules.
Glossary
Transformation costs
Non-recurring expenses related to the focus on the wholesale business and the restructuring measures resulting from this realignment as well as with the closure of individual national subsidiaries. Such expenses are presented separately in the financial reporting as transformation costs.
Glossary
Earnings per share (basic/diluted)
The earnings per share (basic) are calculated by dividing the profit share attributable to the shareholders of METRO AG by the weighted average number of shares in circulation. The earnings per share (diluted) also take into account the effect of so-called potential shares, for example due to issued stock options.
Glossary
Net debt
The net debt results from the balance of financial liabilities (including liabilities from leases), cash and cash equivalents plus financial investments. Financial investments include short-term bank deposits and liquid debt instruments that can be sold at short notice.
Glossary
Rating
In the financial sector, rating represents the systematic, qualitative measurement of creditworthiness. Ratings are expressed in various grades of creditworthiness. Well-known agencies that perform ratings are Standard & Poor’s, Moody’s and Fitch.
Glossary

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