Investments/divestments

In financial year 2022/23, METRO invested €1,147 million and is thus €212 million above the previous year’s investment volume of €935 million.

The increase in investments resulted largely from lease extensions for numerous locations in the portfolio, in particular in France and Italy. In addition, the acquisition of FSD company Johan i Hallen & Bergfalk (JHB), a leading Swedish speciality provider of meat, fish and seafood, is reflected in the segment West.

As a significant pillar of the sCore strategy, investments were also made in the delivery business and the transformation of wholesale stores to so-called multichannel fulfilment centres in financial year 2022/23. The conversions will expand delivery capacities in a targeted manner and ensure the efficient dovetailing of the sales channels.

We also maintained our focus on sustainability in financial year 2022/23 and increased investments compared with the previous year. In addition, we continued to invest heavily in digitalisation.

In financial year 2022/23, the number of wholesale stores declined by 36 to a total of 625 locations. The decline is attributable to the market exit in India (31 locations), 2 temporarily non-operational wholesale stores in Ukraine, sale of 2 former AGM locations due to antitrust requirements and the conversion of 1 AGM wholesale store to a depot.

Proceeds from divestments amount to €317 million and mainly relate to real estate disposals.

• For more information about divestments, see the cash flow statement in the consolidated financial statements as well as the notes to the consolidated financial statements under no. 37 – notes to the cash flow statement.