German Metro Group‘s first quarter results have remained relatively stable compared to last year. The Metro Cash & Carry Vietnam sale in 2015 did result in a profit drop this time around.
Drop in Germany
First quarter turnover dropped 0.6 % to 16.986 billion euro, but there was a 0.1 % like-for-like turnover increase. Germany had the largest setback, with a 1.8 % turnover drop, while its international activities remained pretty stable.
First quarter EBIT reached 733 million euro, down from 1.24 billion euro last year, even though that included 427 million euro from the Metro Cash & Carry Vietnam sale. If that sum is ignored, there was even a slight first quarter increase for its fiscal year 2016/2017.
Based on these results, Metro Group maintains its full-year forecast, including a slight turnover increase, even on a like-for-like basis. The full-year forecast will be adjusted still, when the Metro Group split is finalized completely.
