Sales and earnings development of the segments

In Germany, sales in local currency increased by 3.5% in financial year 2022/23. The implementation of the sCore strategy made good progress, and this is reflected in the sales development with HoReCa customers. We defended the market shares we gained. Reported sales increased to €4.9 billion.

Sales in the segment West increased by 4.4% in financial year 2022/23. The countries France, Spain and Italy contributed to this increase in particular. In addition, delivery specialists Pro à Pro France, Pro a Pro Spain and Aviludo achieved double-digit growth rates. Sales from the Belgian business have no longer been included since the sale in May 2022. Since May 2023, sales from the delivery specialist JHB have contributed to sales. The HoReCa business in France, Spain and Italy performed well and we defended market shares we had gained. Reported sales increased to €12.6 billion.

In Russia, sales in local currency in financial year 2022/23 declined significantly by 7.9%. Russia’s war in the Ukraine and the related reluctance to buy had a negative impact. Furthermore, business was significantly affected by the cyberattack. In addition, the previous year was supported by stock-up purchases in connection with Russia’s war in Ukraine. Due to negative exchange rate effects, reported sales declined by 13.6% to €2.5 billion.

In the segment East, sales in local currency increased noticeably by 11.2%. Almost all countries contributed to this positive development, driven primarily by the clearly positive development of the HoReCa business. The largest increase in sales was recorded in Turkey, which was heavily supported by inflation. Sales underwent positive development in Ukraine, rising by 10.2% in spite of the war. Due to the sale of the Indian business, sales are only included until April 2023. Reported sales in the segment East increased by 4.1% to €10.4 billion. This was attributable to negative exchange rate effects, in particular in Turkey, as well as in Ukraine and Pakistan.

In the segment Others, sales increased by €91 million to €213 million and include in particular METRO MARKETS sales of €110 million (2021/22: €69 million). This increase was driven by the growth of the marketplace in Germany, Spain and Italy as well as the expansion to Portugal, the Netherlands and France. Sales of POS provider Eijsink (initial consolidation in March 2022) and the Günther group (initial consolidation in August 2022) also contributed to the increase.

As of 30 September 2023, the store network comprised 625 stores, of which 529 were out-of-store (OOS)¹ locations, and 76 depots.

• Detailed information on the store network can be found in chapter 1.1 group business model.

In Germany, the adjusted EBITDA in financial year 2022/23 decreased to €135 million (2021/22: €167 million). This was due to already-expected cost inflation, continued investments in price positioning in a declining inflation environment and selective assortment and stock rationalization adjustments.

In the segment West, the adjusted EBITDA in financial year 2022/23 increased to €614 million (2021/22: €576 million). The increase is particularly attributable to the strong sales development compared to the same period of the previous year. The already-expected cost inflation had the opposite effect. Transformation gains of €1 million (2021/22: transformation costs of €125 million) were incurred as part of the sale of the Belgian business. EBITDA increased to €620 million (2021/22: €453 million).

The adjusted EBITDA in Russia amounted to €152 million in financial year 2022/23 (2021/22: €231 million). Adjusted for currency effects, EBITDA decreased by €65 million. The decrease is primarily attributable to the difficult macroeconomic environment and an associated decline in sales and margins.

In the segment East, the adjusted EBITDA in financial year 2022/23 decreased to €394 million (2021/22: €417 million). Adjusted for currency effects, EBITDA increased by €7 million. Transformation gains of €150 million (2021/22: €0 million) were incurred, in particular from the sale of the business in India. There were no earnings contributions from real estate transactions. In the prior year, the earnings contributions in the amount of €132 million resulted primarily from the sale of the remaining real estate portfolio in Japan after the market exit. EBITDA decreased to €544 million (2021/22: €548 million).

The adjusted EBITDA in the segment Others amounted to €−131 million in financial year 2022/23 (2021/22: €−1 million). While the adjusted EBITDA in the previous year still fully benefited from licensing income from the partnership with Wumei, this income only accrued through April 2023 for the current financial year. In addition, the decrease in sales and earnings is due to the expiration of post-transaction effects (Real and China). Earnings contributions from real estate transactions amounted to €203 million (2021/22: €3 million) and were primarily the result of the sale of parts of the METRO Campus. Transformation gains of €2 million (2021/22: €2 million) were incurred. EBITDA reached €74 million (2021/22: €5 million).