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METRO GROUP : ANNUAL REPORT 2011 : BUSINESS
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eastern european market, Real will systematically carry out
this expansion within its existing country portfolio.
In 2012 and 2013, we expect Real to continue to boost
sales and earnings by continuing to implement our
repositioning strategy as well as further improving operating
performance.
Media-saturn
Media-saturn is the leading consumer electronics retailer in
europe with Media Markt and saturn. In 2012, we intend to
open a number of new stores. The market entry into China that
we initiated in 2010 also offers enormous growth potential.
In 2012, Media-saturn will introduce new own-brand products.
We will also offer these products in additional countries.
Both Media Markt and saturn have built a strong platform in
Germany – the most important market – for multichannel
sales. This platform offers tremendous potential for future
growth. Initial experience with this concept shows that the
product range has been received very well by customers. For
2012, Media-saturn is planning to introduce the multichannel
concept into other european countries. over the long term,
the company is determined to become the european market
leader in online consumer electronics retailing. pure play
online retailer Redcoon will make a major contribution to this
growth.
at Media-saturn, we expect to continue facing difficult market
conditions in 2012 as a result of macroeconomic trends.
Thanks to the successfully initiated repositioning of the business
model and the further introduction of the multichannel
strategy, we expect sales to rise in 2012. We are striving to
increase earnings, but cannot rule out at this point that earnings
could remain at or even slightly below the previous year’s
level as a result of current market trends. Furthermore, we
expect to experience additional expenses related to the
implementation of the multichannel strategy and the adjustment
of the price positioning. We project rising sales and
earnings in 2013 as a result of the continued successful
implementation of the multichannel strategy.
galeria Kaufhof
In 2012, we intend to forge ahead with the systematic evolution of
Galeria Kaufhof’s department stores in order to meet customers’
changing needs. By further optimising the product worlds
through a focus on exclusivity and quality, Galeria Kaufhof will
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remain the first point of call for many customers. The sales division’s
redesigned online store with its extensive range of textile
products will also have a positive effect on sales in 2012. This
will also be the case for the “Wanderzeit” (hiking time) concept
used by the subsidiary sportarena. This concept includes an
attractive range of outdoor equipment and clothing. Galeria
Kaufhof is planning to open additional “Wanderzeit” outlets.
Meanwhile, we will close four department stores in 2012 in
the course of the continued optimisation of our store network.
In 2012, this will have a negative impact on sales developments.
In terms of earnings, we project an increase in 2012
due to the initiated measures. We expect sales and earnings
to improve in 2013.
Real Estate
as a result of the increased expansion, we expect to generate
higher earnings from rising rental income over the next few
years. In contrast, we anticipate lower earnings contributions
from active portfolio management in 2012. as a result, we
project lower overall earnings for 2012. We expect that earnings
will rise again in 2013.
as part of our professional real estate management, we are
rigorously pursuing our goal of markedly reducing our Co 2
emissions. aside from our conscientious and efficient use of
resources, we also expect our bundled energy procurement
activities to result in lower costs for the sales divisions.
METRO gROUP
The economic situation worsened in 2011 largely as a result
of the sovereign debt crisis. For this reason, we expect continued
economic instability to dampen consumer confidence.
Expected sales development
The persistently difficult economic situation and the slowing
price increases will most likely have a negative impact on
sales in 2012. on the other hand, all sales divisions are taking
a number of steps designed to boost sales. For this reason,
we foresee an increase in sales in 2012. We expect a continuation
of this positive sales trend in 2013 on the back of an economic
recovery.
Expected earnings development
MeTRo GRoUp’s strategy aims for sustainable growth in
sales and earnings.
In 2012, the earnings development will be dampened by the
continuing difficult economic situation. In 2012, MeTRo GRoUp