In Q3 2019/20 METRO AG’s like-for-like sales declined by -17.5% compared to the previous year, the company informed on the site Aug. 10.
At the same time, governmental restrictions in the context of the COVID-19 pandemic had a noticeable impact on METRO's business development, especially in the first half of Q3 2019/20.
Thus, the patters demonstrated the like-for-like sales decrease by-17.5% in Q3 2019/20 due to the effects of the COVID-19 pandemic; clearly positive trend from April (-26.4%) to May (-19.4%) and to June (-6.7%); trader and SCO sales grow significantly above previous year, HoReCa sales recover quickly and above-market level during the quarter.
EBITDA adjusted in Q3 2019/20 at €175 million (Q3 2018/19: €373 million);
profit or loss for the period from continging operations attributable to METRO shareholders in Q3 2019/20 at €-140 million (Q3 2018/19: €90 million); earnings per share from continuing operations at €-0.38 (Q3 2018/19: €0.25); reported profit or loss for the period attributable to METRO shareholders in Q3 2019/20 at €512 million (Q3 2018/19: €115 million); reported earnings per share at €1.41 (Q3 2018/19: €0.32).
Net proceeds of~€1.9 billion and corresponding debt relief from the successful sale of the majority stake in METRO China and the sale of the hypermarket business; transaction proceeds and stable financial performance strengthen balance sheet and lay the foundation for dividend continuity.
METRO Cash&Carry is the largest management company in the international business format of cash&carry (small wholesale trade) as part of METRO AG. METRO AG is one of the largest international operators of retail and small wholesale trade.
METRO Cash&Carry was founded in Germany in 1964. Already 4 years later, in 1968, the concept of cash & carry went beyond the borders of Germany, when the company came to an agreement with the Dutch chain Dutch Steenkolen Hendelsvereniging N. V. (SHV) to create a joint company Makro Zelfbedienigsgroothandel C. V., in which the founding partners owned 40% of the shares.
The management company was created in 1996 as a result of the merger of Metro Cash & Carry, Kaufhof Holding AG and Asko Deutsche Kaufhaus AG.
