Metro AG : Apart from speculative appeal, the stock looks generously valued in our view
>Q1 2018-19 results: in line with expectations - For sales of € 8,017m, -0.6% reported but +2.3% LFL, the group reported EBITDA (excl. capital gains on property assets) of € 470m in Q1 2018-19, -6.7% reported and -3.4% on an organic basis, in line with the consensus expectations (€ 472m). This figure factors in a one-off, the amount of which has not been quantified (low double digit), which implies a performance excl. exceptionals, which is likely to be fairly close t...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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