Overall statement by the Management Board of METRO AG on the business development and situation of METRO
The Management Board looks back on another successful financial year within the framework of expectations. In a challenging environment, the implementation of the sCore growth strategy continued and the company improved its market position. The consistent focus on the implementation of the sCore strategy paid off and we made significant progress in the strengthening of delivery, in the online business and in the optimisation of the wholesale approach of our stores.
Financial year 2023/24 was characterised by a challenging environment due to the geopolitical situation and rising costs. We have further bolstered the delivery business portfolio with the acquisitions of Caterite (Great Britain), Donier Gastronomie (Finland) and Fisk Idag (Sweden).
Sales reached the upper half of the outlook range. Growth was driven by all segments and all sales channels. As expected, adjusted EBITDA declined; due to the continuing transformation requirements in the wholesale business, persistent cost pressure and the expiry of post-transaction effects, it is at the lower end of the outlook range. As a result, the reported earnings per share (EPS) are €−0.33 (2022/23: €1.21). The previous year’s earnings were to a significant extent influenced by the sale of part of the METRO Campus, the sale of the Indian business and non-cash currency effects in the net financial result. In accordance with our dividend policy (payout ratio of 45% to 55% of EPS), the Management Board and the Supervisory Board propose to the Annual General Meeting not to pay a dividend for financial year 2023/24.