The aim of the capital management strategy of METRO is to secure the company’s business operations to continue, to increase the value of the company, to create solid capital resources to finance future growth and to provide for attractive dividend payments and capital service.
The capital management strategy of METRO has remained unchanged compared with the previous year.
Equity, liabilities and net debt in the consolidated financial statements
€ million |
30/9/2022 |
30/9/2023 |
||
|---|---|---|---|---|
Equity before non-controlling interests |
2,344 |
2,011 |
||
Liabilities |
10,490 |
9,625 |
||
Net debt |
3,281 |
3,051 |
||
Financial liabilities |
4,124 |
3,663 |
||
thereof liabilities from leases |
(2,847) |
(2,621) |
||
Cash and cash equivalents |
825 |
591 |
||
Current financial investments1 |
19 |
21 |
||
|
||||
The cash of our Russian group companies amounts to €101 million (30/9/2022: €119 million). They are constantly monitored for relevant restrictions in light of increased governmental interventions. In addition, €81 million (30/9/2022: €108 million) of the liabilities from leases are attributable to the Russian national subsidiaries.
Local capital requirements
The capital management strategy of METRO consistently aims to ensure that the group companies’ capital resources meet the local requirements. During financial year 2022/23, all external capital requirements were met. This includes, for example, adherence to a defined level of indebtedness and a fixed equity ratio.