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Review of financial year 2021/22

The METRO group (hereinafter also referred to as METRO) has decently completed financial year 2021/22, which is also reflected accordingly in the key figures relevant for the short-term incentive. The adjusted sales and EBITDA developed in the upper half of the outlook, which was raised twice. The implementation of the sCore strategy made a noticeable impact.The positive business development was supported by tailwind from the reopening of the HoReCa business after easing of pandemic-related restrictions particularly in the second half-year as well as rising inflation. Sales expanded in all sales channels (brick-and-mortar, delivery and METRO MARKETS), which contributed significantly to the strong earnings development. Due to the war in Ukraine, however, impairments also had to be made, which burdened the return on capital employed. Nevertheless, the increase in earnings from the positive business development based on a high single-digit volume growth outweighed the previous year. Earnings per share, which are relevant in the context of long-term incentive, were negative at €−0.92. This is attributable to currency-related negative effects in the financial result, effects from the disposal of the operational Belgian business on 15 June 2022 (reported as transformation costs) and the impairments made in connection with the war in Ukraine.

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. The (adjusted) EBITDA indicates EBITDA excluding earnings contributions from real estate transactions and transformation costs.
Earnings per share (EPS)
See earnings per share.
Short for hotel, restaurant and catering businesses. The HoReCa sector is one of METRO’s core customer groups and is one of the strategic customers under the sCore growth strategy.
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.
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.
sCore strategy
METRO’s growth strategy, which is aligned to the year 2030. It highlights the group’s exclusive focus on wholesale.

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