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Asset, financial and earnings position

Overall statement by the Management Board of METRO AG on the business development and situation of METRO

The Management Board looks back on an overall successful financial year within the framework of expectations. In a challenging environment, the implementation of the sCore growth strategy continued and the company defended its market shares. The consistent focus on the implementation of the sCore strategy paid off and we made significant progress in the strengthening of delivery, in the online business and in the optimisation of the wholesale approach of our stores.

Financial year 2022/23 was characterised by a challenging environment due to the continued inflation, rising costs and the cyberattack in Q1 2022/23. With the acquisition of JHB in Scandinavia, METRO has undertaken a reinforcement of its portfolio towards delivery business. In connection with the sCore implementation, the company adjusted the portfolio to the exclusion of India, because the country is not prospectively aligned with the sCore strategy.

Sales reached the upper half of the outlook range. Adjusted EBITDA declined as expected, and decreased within the lower half of the outlook range. The reported earnings per share (EPS) are €1.21 (2021/22: €−0.92).

The increase was strongly impacted by the sale of parts of the METRO Campus and the sale of the Indian business. In addition, there were positive non-cash currency effects in the net financial result.

METRO has a successful business model, and the company intends to share this success with its shareholders in the form of an attractive dividend. The regular payout ratio is 45% to 55% of EPS. Accordingly, the Management Board and the Supervisory Board are proposing to the Annual General Meeting a dividend in the amount of €0.55 per ordinary and preference share1 for financial year 2022/23.

sCore strategy
METRO’s growth strategy, which is aligned to the year 2030. It highlights the group’s exclusive focus on wholesale.

1 Preference share plus the deferred payment of the preliminary dividend of €0.17 per preference share for the financial years 2020/21 and 2021/22.

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