Metro AG : Heavy losses expected for Q3 2019-20, reduction in our full-year estimates with the recovery looking set to be challenging for the group
>Q3 2019-20 results strongly affected by the COVID-19 crisis We expect an EBIT loss of € 37m - Metro is set to release its Q3 2019-20 results on Wednesday 5 August after the close (conference call on 6 August). The results will be strongly affected by the COVID-19 crisis given the group’s exposure to the hotels/restaurants/catering (“Horecaâ€) sector (48% of consolidated revenues, of which 65% in western Europe, one of the group’s most profitable regions, representing...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.
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