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METRO GROUP : ANNUAL REPORT 2011 : BUSINESS
→ GROUP MANAGEMENT REPORT : 3. EARNiNGs POsiTiON
margin improvements related to shape 2012. In addition, the
higher sales proportion of own brands had a positive impact
on margin developments. With an improved eBIT margin,
Metro Cash & Carry managed to improve its return again in a
difficult environment.
Key figures Metro Cash & Carry 2011
in year-on-year comparison
2010
€ million
Change in %
2011
€ million in €
Currency
effects in
percentage
points
Like-for-
in local like (local
curcurrenciesrencies) sales 31,095 31,155 0.2 –1.2 1.4 0.1
Germany 5,302 5,152 –2.8 0.0 –2.8 0.1
Western europe 11,912 11,805 –0.9 –0.1 –0.8 –1.0
eastern europe 11,407 11,492 0.7 –2.5 3.2 –1.2
asia/africa 2,474 2,706 9.4 –3.3 12.7 12.7
eBITDa 1,3741 1,4081 2.4 – – –
eBIT 1,1041 1,1481 4.0 – – –
eBIT margin (%) 3.61 3.71 – – – –
locations (number) 687 7282 selling space
6.0 – – –
(1,000 sqm) 5,355 5,517 3.0 – – –
1 Before special items from shape 2012
2 Including first-time inclusien of satellite stores opend in 2009/2010 (total of 14)
Real
Due partly to store divestments, Real’s sales declined by
2.3 percent to €11.2 billion in 2011 (in local currencies:
–1.4 percent). The challenging nonfood business and the disappointing
Christmas business, in particular, continued to weigh
on developments. like-for-like sales declined by 0.8 percent.
In Germany, sales fell by 1.6 percent to €8.3 billion in 2011.
This development is largely due to store divestments: likefor-like
sales remained stable at the previous year’s level.
sales of Real 2011
by region
26.1%
eastern europe
→ p. 100
Real’s international share of sales declined to 26.1 percent
from 26.6 percent.
In eastern europe, sales fell by 4.3 percent to €2.9 billion in
2011 (in local currencies: –0.9 percent). like-for-like sales in
eastern europe retreated by 3.0 percent. although Real continued
to record strong sales growth in Russia, polish and
Romanian consumers’ general reluctance to spend money
weighed on sales developments in eastern europe.
Key figures Real 2011
in year-on-year comparison
2010
€ million
Change in %
2011
€ million in €
Currency
effects in
percentage
points
Like-for-
in local like (local
curcurrenciesrencies) sales 11,499 11,230 –2.3 –0.9 –1.4 –0.8
Germany 8,441 8,304 –1.6 0.0 –1.6 –0.1
eastern europe 3,058 2,926 –4.3 –3.4 –0.9 –3.0
eBITDa 3211 3211 –0.3 – – –
eBIT 1321 1341 1.2 – – –
eBIT margin (%) 1.11 1.21 – – – –
locations (number)
selling space
429 426 –0.7 – – –
(1,000 sqm) 3,107 3,082 –0.8 – – –
1 Before special items from shape 2012
73.9%
Germany
at the end of 2011, Real’s network of locations comprised
426 hypermarkets in 6 countries: 316 in Germany and 110 in
eastern europe.