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METRO GROUP : ANNUAL REPORT 2010 : BUSINESS
→ GROUP MANAGEMENT REPORT : 3. EARNINGS POSITION
Sales of Media Markt and Saturn 2010
by region
11.6%
Eastern Europe
44.7%
western Europe
(excl. Germany)
0.0%
Asia
43.7%
Germany
In 2010, sales in Germany remained unchanged from a year
earlier. The previous year’s figure reflected the highly successful
campaign on the occasion of Media Markt’s 30th
anniversary. In time for the Christmas business, Media
Markt and Saturn included the first products of the new own
brands “ok.” and “KOENIC” in its assortment. The customer
response was exceedingly positive.
The international share of sales at Media Markt and Saturn
rose from 53.7 percent to 56.3 percent.
despite the challenging economic and market environment,
sales in western Europe markedly exceeded the previous
year’s level in 2010, rising by 8.7 percent to €9.3 billion (in
local currencies: +7.4 percent). Like-for-like sales increased
by 0.6 percent.
In Eastern Europe, in turn, Media Markt and Saturn posted
sales growth of 18.3 percent to €2.4 billion (in local currencies:
+10.8 percent) for the financial year 2010. Like-forlike
sales developments diverged markedly between individual
countries and declined by 7.1 percent overall. while
like-for-like sales in Russia and Turkey showed a strong
rise, sales in Poland declined due to negative market developments
in consumer electronics retailing.
In Asia, Media Markt opened its first store in Shanghai, generating
sales of €9 million from the middle of November.
At the end of 2010, the location network of Media Markt and
Saturn comprised 877 consumer electronics stores: 382 in
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Germany, 353 in western Europe, 141 in Eastern Europe and
1 location in Asia.
EBIT of Media Markt and Saturn totalled €492 million after
€603 million in the previous year. This decline was largely
due to special effects related to the divestment of the French
locations – pending the approval of the antitrust authority –
with which METRO GROUP is rigorously pushing its strategic
portfolio optimisation. EBIT before special items rose by €17
million to €625 million. EBIT includes start-up costs for the
market entry in China as well as the launching of the online
and own-brand business. In Germany, western and Eastern
Europe, EBIT before special items increased.
Key figures Media Markt and Saturn 2010
in year-on-year comparison
2010
€ million
Change in %
2009
€ million in €
Currency
effects in
percentage
points
in Like-for-
local like (local
curcurrenciesrencies) Sales 20,794 19,693 5.6 1.3 4.3 –1.2
Germany 9,087 9,114 –0.3 0.0 –0.3 –1.6
western Europe 9,283 8,538 8.7 1.3 7.4 0.6
Eastern Europe 2,415 2,041 18.3 7.5 10.8 –7.1
Asia/Africa 9 0 – – – –
EBITdA 8761 8511 2.9 – – –
EBIT 6251 6081 2.8 – – –
EBIT margin (%) 3.01 3.11 Locations
– – – –
(number)
Selling space
877 818 – – – –
(1,000 sqm) 2,829 2,633 7.4 – – –
1 Before special items from Shape 2012
Galeria Kaufhof
despite the closure of three unprofitable locations, sales of
Galeria Kaufhof rose by 1.3 percent to €3.6 billion in 2010.
Like-for-like sales increased by 1.2 percent.
In Germany, sales grew by 1.0 percent to €3.3 billion. Likefor-like
sales growth amounted to 1.1 percent. Galeria
Kaufhof continued to successfully implement value creation
measures in the merchandise business, such as the optimisation
of assortments in the course of the trading-up
strategy. As such, Galeria Kaufhof has reaffirmed its position
as a leader in the German department store business.
Sales in western Europe increased by 3.4 percent to €333
million. Like-for-like sales grew by 2.9 percent.