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METRO GROUP : ANNUAL REPORT 2011 : BUSINESS
→ GROUP MANAGEMENT REPORT : 3. EARNiNGs POsiTiON
eBIT declined by €11 million to €94 million. eBIT before
special items, in turn, rose by €2 million to €134 million. In
Germany, the slight decline in eBIT compared with the previous
year’s level was largely due to the Christmas business.
Meanwhile, the positive eBIT trend in eastern europe
continued, based on cost savings related to shape 2012. In
particular, Russia and poland posted better results.
Media-saturn
Media-saturn reaffirmed its leading market position in europe
in 2011. Despite a challenging economic environment, sales
fell by just 0.9 percent to €20.6 billion in the financial year 2011
(in local currencies: –1.0 percent). This decline in sales is also
attributable to the divestment of the French saturn consumer
electronics stores as of 30 June 2011. like-for-like sales fell
by 4.3 percent. The online retailer Redcoon, which was consolidated
from the third quarter, contributed positively to
sales developments. In 2011, Internet sales including Redcoon
amounted to €348 million.
sales of Media-saturn 2011
by region
12.3%
eastern europe
42.3%
Western europe
(excl. Germany)
0.4%
asia
45.0%
Germany
In Germany, sales rose by 2.0 percent in 2011 and were supported
by the acquisition of Redcoon. Both the new pricing
strategy at Media Markt, which met with a positive customer
response, and the successful launching of www.saturn.de
on 10 october 2011 contributed to this increase. like-forlike
sales nearly matched the previous year’s level.
The international share of sales at Media-saturn declined to
55.0 percent from 56.3 percent.
→ p. 101
sales in Western europe fell by 6.2 percent to €8.7 billion in
2011 (in local currencies: –7.4 percent). The challenging
market environment and the divestment of the French consumer
electronics stores dampened sales developments.
like-for-like sales declined by 9.0 percent in a reflection of
the difficult market environment in the consumer electronics
sector. The online business in austria, Italy and the netherlands,
however, posted strong growth rates.
In eastern europe, Media-saturn posted sales growth of
4.9 percent to €2.5 billion in the financial year 2011 (in local currencies:
+9.2 percent). The key drivers of this growth were
Russia and Turkey. like-for-like sales declined by 1.4 percent.
In asia, the Media Markt sales brand opened another 6 locations
in shanghai, China, during the financial year 2011. sales
amounted to €92 million after €9 million in the previous year.
at the end of 2011, the location network of Media-saturn comprised
893 consumer electronics stores: 389 in Germany, 344
in Western europe, 153 in eastern europe and 7 locations in
asia.
eBIT of Media-saturn totalled €493 million after €492 million
in the previous year. eBIT before special items declined by
€83 million to €542 million. This figure includes higher
op erative start-up costs for the market entry in China as well
as the launching of the online business.
Key figures Media-saturn 2011
in year-on-year comparison
Change in %
2010
€ million
2011
€ million in €
Currency
effects in
percentage
points
Like-for-
in local like (local
curcurrenciesrencies) sales 20,794 20,604 –0.9 0.1 –1.0 –4.3
Germany 9,087 9,266 2.0 0.0 2.0 –0.6
Western europe 9,283 8,712 –6.2 1.2 –7.4 –9.0
eastern europe 2,415 2,534 4.9 –4.3 9.2 –1.4
asia/africa 9 92 – – – –
eBITDa 8761 8091 –7.6 – – –
eBIT 6251 5421 –13.4 – – –
eBIT margin (%) 3.01 2.61 – – – –
locations (number)
selling space
877 893 1.8 – – –
(1,000 sqm) 2,829 2,880 1.8 – – –
1 Before special items from shape 2012