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<strong>METRO</strong> 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
<strong>METRO</strong> GROUP : ANNUAL REPORT 2011 : BUSINESS → GROUP MANAGEMENT REPORT : 3. EARNiNGs POsiTiON galeria Kaufhof sales of Galeria Kaufhof declined by 3.7 percent to €3.4 billion in 2011 compared with the previous year. like-for-like sales fell by 3.4 percent. sales of galeria Kaufhof 2011 by region 9.9% Western europe (excl. Germany) 90.1% Germany In Germany, Galeria Kaufhof generated sales of €3.1 billion in 2011 – a decline of 4.4 percent compared with the previous year. like-for-like sales fell by 3.9 percent. The atypical weather had a distinctly negative impact on sales of seasonal merchandise. Following a disappointing start of the Christmas business, hardware sales ended the year satisfactorily, but could not offset weak textile sales. In addition, Galeria Kaufhof started to phase out sales of the low-margin technical assortment in order to make more profitable use of the Key figures galeria Kaufhof 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 3,584 3,450 –3.7 0.0 –3.7 –3.4 Germany 3,251 3,107 –4.4 0.0 –4.4 –3.9 Western europe 333 343 3.1 0.0 3.1 2.4 eBITDa 2331 2191 –5.8 – – – eBIT 1381 1211 –12.5 – – – eBIT margin (%) 3.91 3.51 – – – – locations (number) selling space 138 140 1.4 – – – (1,000 sqm) 1,480 1,475 –0.3 – – – 1 Before special items from shape 2012 → p. 102 selling space with typical department store product categories such as leather goods, shoes and accessories. The related remodelling measures had a negative impact on business development. sales in Western europe rose by 3.1 percent to €343 million. like-for-like sales increased by 2.4 percent. at the end of 2011, Galeria Kaufhof operated 140 locations: 125 in Germany and 15 in Belgium. eBIT declined to €94 million after €138 million in the previous year. eBIT before special items retreated by €17 million to €121 million from €138 million a year earlier. Real Estate The Real estate segment comprises all real estate assets owned by MeTRo GRoUp as well as real estate-related services. Property locations (687 locations) by region 38.1% eastern europe 11.5% asia/africa 20.5% Germany 29.9% Western europe (excl. Germany) eBIT fell to €639 million from €718 million. eBIT before special items amounted to €643 million, a decline of €55 million that is due largely to lower earnings from active portfolio management as well as to lower net rental income due to asset disposals. Others The “others” segment comprises, among others, MeTRo aG as the strategic management holding company of MeTRo GRoUp, the procurement organisation in Hong Kong, which also operates on behalf of third parties, as well as logistics ser-
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24/7 online - SHoPPinG! - inTeGRATe
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METRO gROUP in figures 1 € millio
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Our Real sales division also consid
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s e p a r a t e FOLD FOLD PUSH OUT
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s e p a r a t e s e p a r a t e s e
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hTTP://www.METRO-wEiN.DE s e p a r
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hTTP://www.REAL-DRiVE.DE s e p a r
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hTTP://www.MEDiAMARKT.DE s e p a r
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hTTP://www.sATURN.DE s e p a r a t
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hTTP://www.REDCOON.DE s e p a r a t
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hTTP://www.gALERiA-KAUFhOF.DE s e p
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METRO gROup : ANNuAL REpORT 2011
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METRO gROUP : ANNUAL REPORT 2011
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sTRATEgy 1 METRO gROUP : ANNUAL REP
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METRO gROUP : ANNUAL REPORT 2011 :
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we recoGnISe And AdAPT To LocAL reQ
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wHAT SecUrInG GrowTH MeAnS For US:
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SUSTAInABLe TrAde. SUSTAInABLe Grow
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ASIA E F G H SALES EASTERN EUROPE (
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