METRO AG Q1 Profit From Cont. Ops. Declines; Confirms Outlook - Quick Facts

(RTTNews) - METRO AG reported that its first-quarter profit from continuing operations attributable to shareholders declined to 121 million euros from 172 million euros, a year ago. Earnings per share from continuing operations was 0.33 euros compared to 0.47 euros. EBITDA excluding earnings contributions from real estate transactions was 526 million euros compared to 530 million euros. Adjusted for currency effects, EBITDA excluding earnings contributions from real estate transactions decreased by 2.2%.

First-quarter sales increased by 2.2% to 7.5 billion euros, supported by positive currency effects. In local currency, sales were up 1.0%, for the quarter. Like-for-like sales growth of 1.0% was driven by strong development in Eastern Europe (excl. Russia) and Asia as well as HoReCa and Trader.

"Based on a strong year-to-date like-for-like sales growth well within the guidance range, we confirm the outlook for the financial year 2019/20", said Olaf Koch, Chairman of the Management Board of METRO AG.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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