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 IFRS 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 previous year.

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 EBITDA in Q4 2020/21 (transformation costs)
• 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)
• Earnings per share: €−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 net debt 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 rating: BBB− (Standard & Poor’s)