Metro AG : Q1 2019-20 sales: no surprises, weak start to the year with Russia still a challenge
>Q1 2019-20 sales: a slow start to the year as expected - Metro has reported Q1 2019-20 sales of € 7.5bn, +2.2% reported and only 1% on an organic and l-f-l basis vs an estimated +1.4% l-f-l. By region, Germany came in below our forecasts (-0.4% l-f-l vs +0.5% est.) and likewise for western Europe (+0.5% l-f-l vs +0.8% est.). The group has clearly felt a slightly negative impact linked to strike action against reforms to the pension system in France. Russia, from...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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