Metro AG : Q1 profits slightly below, FY outlook confirmed
>Price investments in Germany hurt earnings - Metro released results for Q1 2023-24 which ended in December. Q1 sales increased 6% organically y-o-y to € 8.1bn (consensus: € 8.1bn, ODDO BHFe: € 8.1bn) and were thus 1-2% above the consensus. Regions: Germany and West grew 4%, Russia was up 11% and East rose 9%. The delivery business increased 24% organically. Adjusted EBITDA amounted to € 404m (consensus: € 418m, ODDO BHFe: € 412m), i.e. was 3% below the consensus. Thi...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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