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METRO GROUP : ANNUAL REPORT 2010 : BUSINESS
→ GROUP MANAGEMENT REPORT : 3. EARNINGS POSITION
3. Earnings position
Overview of Group business developments
METRO GROUP can look back on a successful financial year
2010. All sales divisions increased sales compared with
2009. Group sales reached €67.3 billion, an increase of 2.6 percent
year-on-year (in local currencies: +0.9 percent).
At €3,591 million, EBITdA clearly exceeded the previous
year’s level of €3,068 million. Adjusted for special items,
EBITdA rose to €3,726 million during the reporting year, an
increase of 12.3 percent.
Group EBIT climbed by €530 million to €2,211 million. EBIT
before special items increased by 19.3 percent to €2,415 million,
the highest result in the history of METRO GROUP.
Sales and earnings developments
In the financial year 2010, METRO GROUP sales rose by 2.6 percent
to €67.3 billion (previous year: €65.5 billion).
In Germany, sales declined by 1.4 percent to €26.1 billion;
adjusted for location and other divestments, however, sales
matched the previous year’s level. International sales rose
by 5.4 percent to €41.1 billion (in local currencies: +2.5 percent).
As a result, the international share of sales rose from
Development of Group sales
by sales divisions and regions
Change in %
Currency in
effects in local
2010 2009 percentage cur-
€ million € million in € points rencies
Metro Cash & Carry 31,095 30,613 1.6 2.2 –0.6
Real 11,499 11,298 1.8 1.6 0.2
Media Markt and Saturn 20,794 19,693 5.6 1.3 4.3
Galeria Kaufhof 3,584 3,539 1.3 0.0 1.3
Others 286 386 –26.0 – –
METRO GROUP 67,258 65,529 2.6 1.7 0.9
thereof Germany 26,130 26,511 –1.4 0.0 –1.4
thereof international 41,128 39,018 5.4 2.9 2.5
western Europe 21,528 20,932 2.8 0.7 2.1
Eastern Europe 16,880 15,766 7.1 5.6 1.5
Asia/Africa 2,720 2,320 17.3 4.4 12.9
Group sales of METRO GROUP 2010
by region
25.1%
Eastern Europe
32.0%
western Europe
(excl. Germany)
4.0%
Asia/Africa
38.9%
Germany
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59.5 percent to 61.1 percent. In western Europe, sales
increased by 2.8 percent to €21.5 billion (in local currencies:
+2.1 percent). In Eastern Europe, sales were up 7.1 percent
to €16.9 billion (in local currencies: +1.5 percent). In Asia/
Africa, sales grew by 17.3 percent to €2.7 billion (in local
currencies: +12.9 percent).
METRO GROUP’s EBIT increased by 31.5 percent to €2,211
million in the financial year 2010. Special items include
one-time expenses related to the efficiency and valueenhancing
programme Shape 2012 totalling €204 million.
EBIT before special items reached a new record of €2,415
million. This corresponds to earnings growth of 19.3 percent
and shows that Shape 2012 is paying off, with the
measures implemented as part of this programme showing
effect. In the financial year 2010, Shape 2012 contributed
€527 million to earnings compared with €208 million in the
previous year.
In Germany, EBIT improved by €65 million to €399 million.
EBIT before special items in Germany fell by €63 million to
€524 million. Earnings improvements in the sales divisions
failed to offset a decline in earnings from real estate
divestments and higher costs in the “others” segment.
METRO GROUP managed to markedly increase international
EBIT in all regions. In western Europe, EBIT rose by 35.4
percent to €888 million, while EBIT before special items
climbed by 45.0 percent to €1,026 million. In Eastern Europe,
EBIT increased by €186 million to €920 million. EBIT before
special items rose by €152 million to €917 million. In the
Asia/Africa region, EBIT improved by €50 million to €5 mil-