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Financial management

Principles and objectives of financial activities

METRO AG centrally performs the management of the group’s financing activities. It ensures solvency of the group at all times, reduces financial risks where economically feasible and grants loans to group companies. The objective is to cover the financing requirements of the group companies cost-effectively and in sufficient amounts via the international banking and capital markets as well as utilising internal group cash pool structures. The financial activities are based on a financial budget for the group, which covers all relevant companies. The selection of financial products is generally based on the maturities of the underlying transactions.

  • For more information about the risks stemming from financial instruments and hedging relationships, see the notes to the consolidated financial statements in no. 39 – management of financial risks.


METRO AG has an investment grade rating (long term: BBB−/short term: A-3) from Standard & Poor’s that was confirmed on 17 March 2023 with a stable outlook. The rating ensures access to the international financial and capital markets, which is particularly utilised within the scope of the Euro Commercial Paper Programme and the ongoing capital market bond programme as needed. Frequent dialogue with credit investors and analysts takes place.

Financing measures

The company’s medium-term and long-term financing needs are covered by a bond issuance programme. As of 30 September 2023, the utilised bond issuance programme amounted to a total of €701 million.

Short-term financing requirements are primarily covered through the Euro Commercial Paper Programme as well as bilateral credit lines. As of 30 September 2023, utilisation of the Commercial Paper Programme was €225 million (30/9/2022: €0 million) and that of the bilateral credit lines €112 million.

As a cash reserve, METRO AG concluded a syndicated credit facility of €1,000 million and additional bilateral credit facilities of €150 million. There was no drawdown during the reporting period.

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