Capital management

The aim of the capital management strategy of METRO is to secure the company’s business operations to continue, to increase the value of the company, to create solid capital resources to finance future growth and to provide for attractive dividend payments and capital service.

The capital management strategy of METRO has remained unchanged compared with the .

Equity, liabilities and net debt in the consolidated financial statements

The total equity before non-controlling interests amounts to €1,826 million (30/9/2020: €2,031 million), while liabilities amount to €10,972 million (30/9/2020: €11,131 million). decreased by €304 million and amounts to €3,466 million (30/9/2020: €3,771 million).

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€ million

30/9/20201

30/9/2021

Equity before non-controlling interests

2,031

1,826

Liabilities

11,131

10,972

Net debt

3,771

3,466

Financial liabilities (incl. liabilities from leases)

5,314

4,954

Cash and cash equivalents

1,525

1,474

Short-term financial investments2

19

13

1

Previous year’s comparative values were adjusted due to a change in the accounting method (inventories); see the notes section ‘Change in accounting method (inventories)’.

2

Included in the balance sheet in other financial assets (current).

Local capital requirements

The capital management strategy of METRO consistently aims to ensure that the group companies’ capital resources meet the local requirements. During financial year 2020/21, all external capital requirements were met. This includes, for example, adherence to a defined level of indebtedness and a fixed equity ratio.

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
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