Metro AG : FY 2023 prelims, 6% organic growth in line, cautious on profits
>Good organic growth but FX headwinds, profits in lower half of range - Yesterday evening, Metro released a trading statement for FY 2023 which ended in September. FY 2023 sales increased 6% organically (consensus: 6%, ODDO BHFe: 7%) to € 30.6bn (consensus: € 30.8bn, ODDO BHFe: € 31.1bn), i.e. organic growth was in line with the consensus while reported growth was negatively affected by FX headwinds (Russia and Turkey). For Q4 this implies 5% organic growth. FY sales...Metro AG, formerly Metro Wholesale & Food Specialist AG, is a Germany-based international wholesale and food service business group and dedicated food specialist with a customer base in wholesale in approximately 35 countries in Europe and Asia. The Company business is carried out by two operating segments: the METRO Wholesale segment and the Real segment. The Company operates also as a retailer in the hypermarket segment of German grocery retail market. The Company operates internationally under brands METRO and Real. The Company operates approximately 751 warehouses in 25 countries and approximately 79 delivery depots. The Company also provides foodservice distribution via Classic Fine Foods group, Rungis Express group and Pro a Pro group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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