The sales growth of METRO for Q4 of financial year 2022/23 is outstanding. The growth stands at 7.9% for sales adjusted for currency and portfolio changes. Additionally, sales in local currency increased by 5.4%. The positive sales growth can be credited to the effective execution of the sCore strategy and was recorded in all markets, especially the East and West regions.
There was also impressive growth for METRO as compared to the previous year. For EMEA region sCore growth was 8.8% for FY 2022/23. EBITDA is forecasted to be around the lower half of the range because of increased costs for cybersecurity and insurance compensation in the mid-double digit million euro range. The increase in spending could not sufficiently recover the earnings loss resulting from the cyber attack in Q1 2022/23, which was significantly above the mid to high double-digit million euro range.
According to Dr. Steffen Greubel, CEO of METRO AG, “Despite having recorded strong results for the last year, I believe there are still some challenging factors which impact certain conditions. However, it is comforting that METRO was able to continue its growth consisting of low double digit million euros.”
This goes to show that constant implementation of the sCore strategy is bearing fruit, and we are making strides towards improving delivery, online business, and optimizing the wholesale approach for our stores. Simultaneously, we are also setting the right foundations for the future with sCore and our multi-channel strategy. As we look towards the next financial year, we are aware it doesn’t come without challenges. Given the steady growth in the preceding financial year, I believe we are in a great position to realize our ambitions set for 2030.”
Again year-on-year, sales growth was seen across all segments in quarter four of FY 2022/23. Even with a tough comparison base to contend with, and without the revenues coming from the sale of the Indian business, METRO managed to grow revenues by 5.4% in local currency.
All segments contributed to this growth East and West showing increases of 10.3% and 3.8%, respectively. Sales in Germany, also increased by 0.8% and for the first time during the financial year 2022/23, Russia grew by 1.3%. Different delivery specialists and the development of online marketplace METRO MARKETS also contributed to growth. At the same time, selling figures declined by 1.1% to €7.9 billion due to unfavorable exchange rate movements in Türkiye and Russia, because of negative EBIT figures.
The implementation of the sCore growth strategy during the financial year 2022/23 led to 5.6% sales growth in local currency with guidance view of 8.8% being unfortunately the case. This was achieved despite the low three digit millions range in euros toward the sales loss sustained during the cyberattack in Q1 2022/23.
After the cyberattack, the sales growth development was reported on the upper half of the guidance range of 5%. All segments except Russia made this possible due to broad based growth across all sales channels.
The provided tables were released by METRO showing sales figures for the fourth quarter of 2023 and for the full year 2022/2023 on their office website.
The above document contains a disclaimer that specifies the numbers are estimates, and any financial projections have inherent risks related to them. METRO will only be able to realize its financial objectives based on different market and economic factors, as well as political and legislative choices.
METRO is one of the leading international food wholesalers for hotels, restaurants, caters easily known as. METRO’s customers are around 17 million worldwide, and they take advantage of the distinctive multichannel model which includes store purchases and digitally-supported delivery (Food Service Distribution, FSD).
The firm is also developing an international marketplace for professional customers called METRO MARKETS. METRO core values that focus on sustainability have put it in the spotlight in many sustainability indices and rankings.
With more than 93,000 employees globally, METRO is in over 30 countries, The business conducted METRO’s growth sales for the financial year 2021/22 were €29.8 billion. More information is available on their online magazine, MPULSE.de.
