Overview of group business development

In financial year 2022/23, sales in local currency grew by 5.6% in spite of the sales lost during the cyberattack in Q1 2022/23 (low 3-digit million-euro amount). The segments East, West and Germany contributed to the growth in particular. Sales in Russia declined due to the war, as the previous year was supported by increased stock-up purchases in connection with the Russian invasion of Ukraine, among other factors. In addition, the financial year is being compared with a very strong previous year, which was attributable to a combination of rising inflation and strong momentum in the HoReCa sector. Furthermore, as a consequence of the business being sold, sales from the Indian business are only included until April 2023. Reported sales increased by 2.7% to €30.6 billion. There were negative exchange rate effects in particular in Turkey, Russia, Ukraine and Pakistan. All sales channels contributed to the growth: sales in store-based business rose to €23.3 billion (+0.2%), delivery sales to €7.1 billion (+11.2%) and METRO MARKETS sales to €0.1 billion (+60.1%).

The adjusted EBITDA declined to €1,174 million in financial year 2022/23 (2021/22: €1,389 million). The sales growth from sCore generally led to EBITDA growth. In financial year 2022/23, however, this was countered by measurable cost inflation, the expiration of post-transaction effects (Real and China) and the declining development in Russia. The impacts from the cyberattack (mid to high 2-digit million-euro amount) in Q1 2022/23 were not fully offset by insurance compensation in the mid 2-digit million-euro amount. Adapted for exchange rates, adjusted EBITDA declined by €172 million compared to the previous year’s period. There were negative exchange rate effects primarily in Turkey and in Russia.

Transformation gains of €153 million (2021/22: transformation costs of €123 million) were generated in financial year 2022/23, in particular from the sale of the business in India.

Earnings contributions from real estate transactions amounted to €208 million (2021/22: €137 million) and were primarily the result of the sale of parts of the METRO Campus. The EBITDA reached a total of €1,534 million (2021/22: €1,403 million).

In financial year 2022/23, METRO made good progress with the implementation of the strategy in the countries. This is also reflected in the strategic KPIs that METRO uses to measure the implementation of the sCore strategy: