pdf (22.8 MB) - METRO Group

More documents

Recommendations

Info

METRO GROUP : ANNUAL REPORT 2011 : INvEsTMENT → Metro SHareS 513 METRO shAREs after very strong performance in 2010, when the Metro share markedly outperformed the German DaX blue-chip index, stock market trends in 2011 pointed downward. Both the market in general and the Metro share, in particular, suffered distinct losses. More than anything, the heightened sovereign debt crisis in europe and the Usa unsettled in vestors, leading to high market volatility. other concerns weighing on global stock markets included high energy and commodity prices as well as the economic outlook, which led to a broad-based drawdown. The Metro share was not immune to this trend either. In addition, MeTRo GRoUp’s relatively high proportion of sales in crisis-ridden regions such as southern europe and several eastern european countries put pressure on its stock price. MeTRo GRoUp’s high share of nonfood sales also dampened performance. Customers’ buying behaviour in this product segment is particularly sensitive to macroeconomic parameters. a strong increase in the dividend by nearly 15 percent also failed to bolster the share price. The release of the Company’s results for the first half of 2011 and the challenging sector environment for consumer electronics, in particular, put additional pressure on the share price. In autumn, the Metro share recovered slightly and performed in line with the DaX. The adjustment of the Company’s sales and earnings guidance at the start of December was greeted with a distinct markdown, causing the Metro share to drop to a low for the year. The share failed to recover from this drop until the end of 2011. The Metro share closed the year at €28.20, 47.7 percent lower than a year earlier. The DaX ended the year with a loss of 14.7 percent. The sector index Dow Jones euro stoxx Retail experienced a similar development with a decline of 15.9 percent. shareholder structure of METRO Ag 514 The shareholders Haniel, schmidt-Ruthenbeck and Beisheim are the major shareholders of MeTRo aG. according to the information available to MeTRo aG, they held 59.98 percent of the voting rights at the end of 2011. The shareholder groups Haniel and schmidt-Ruthenbeck are the Group’s major shareholders. according to notifications of voting rights pursuant to the German securities Trading act (WpHG), they hold 50.01 percent of the voting rights. The Beisheim shareholder group holds 9.97 percent of the voting rights according to voting rights notifications. The remaining 40.02 percent freefloat share is divided among a large number of national and international investors. notifications from fund management firms and other data sources indicate that Us and British investors now account for the largest share of institutional investors, followed by French and German investors. In addition, MeTRo aG’s shareholder base includes an estimated 60,000 private investors. Market capitalisation and index inclusion 515 → p. 063 The share price losses markedly reduced MeTRo aG’s market capitalisation. at the end of December 2011, it stood at €9.2 billion. The trading volume of the Metro share exceeded the previous year’s level in 2011. on an average trading day, 1.3 million ordinary shares of MeTRo aG were traded, compared with 1.0 million a year earlier. average daily trading volume of illiquid preference shares was 6,500 shares. as Germany’s largest listed retail and wholesale group, MeTRo aG is a member of the German DaX stock market index.
METRO gROUP : ANNUAL REPORT 2011 : iNVEsTMENT → Metro SHareS Development of the Metro share price (%) 110 100 90 80 70 60 50 DaX Dow Jones euro stoxx Retail 1/1/2011 31/3/2011 30/6/2011 30/9/2011 30/12/2011 METRO Ag Performance comparison of Metro ordinary share in 2011 vs DAX vs Dow Jones Euro stoxx Retail METRO GROUP DAX Dow Jones Euro Stoxx Retail Source: Bloomberg annual closing price annual high annual low –47.7% –14.7% –15.9% Metro shares 2009–2011 (€) 2009 2010 2011 ordinary share 42.57 53.88 28.20 preference share 35.00 36.09 24.16 ordinary share 43.50 58.53 55.91 preference share 37.50 40.89 39.24 ordinary share 20.07 37.28 27.39 preference share 21.90 32.00 22.43 Cash dividend ordinary share 1.18 1.35 1.351 preference share 1.298 1.485 1.4851 Dividend yield ordinary share 2.8 2.5 4.8 based on closing price for the year (%) 1 preference share 3.7 4.1 6.11 Market capitalisation (€ billion) 13.9 17.6 9.2 1 subject to the resolution of the annual General Meeting Data based on XeTRa closing prices source: Bloomberg → p. 064
Page 1 and 2:
24/7 online - SHoPPinG! - inTeGRATe
Page 3 and 4:
METRO gROUP in figures 1 € millio
Page 5 and 6:
Our Real sales division also consid
Page 7 and 8:
s e p a r a t e FOLD FOLD PUSH OUT
Page 9 and 10:
s e p a r a t e s e p a r a t e s e
Page 11 and 12:
hTTP://www.METRO-wEiN.DE s e p a r
Page 13 and 14:
hTTP://www.REAL-DRiVE.DE s e p a r
Page 15 and 16: hTTP://www.MEDiAMARKT.DE s e p a r
Page 17 and 18: hTTP://www.sATURN.DE s e p a r a t
Page 19 and 20: hTTP://www.REDCOON.DE s e p a r a t
Page 21 and 22: hTTP://www.gALERiA-KAUFhOF.DE s e p
Page 23 and 24: METRO gROup : ANNuAL REpORT 2011
Page 25 and 26: METRO gROUP : ANNUAL REPORT 2011
Page 27 and 28: sTRATEgy 1 METRO gROUP : ANNUAL REP
Page 29 and 30: METRO gROUP : ANNUAL REPORT 2011 :
Page 38: we recoGnISe And AdAPT To LocAL reQ
Page 42: wHAT SecUrInG GrowTH MeAnS For US:
Page 46 and 47: SUSTAInABLe TrAde. SUSTAInABLe Grow
Page 48 and 49: METRO GROUP : ANNUAL REPORT 2011 :
Page 62: METRO GROUP : ANNUAL REPORT 2011 :
Page 65: iNVEsTMENT 2 METRO gROUP : ANNUAL R
Page 71 and 72: BUsiNEss 3 METRO gROUP : ANNUAL REP
Page 117 and 118:
METRO GROUP : ANNUAL REPORT 2011 :
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177:
Page 180 and 181:
METRO gROup : AnnuAl REpORT 2011 :
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
METRO gROUP : ANNUAL REPORT 2011 :
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 216 and 217:
Page 218 and 219:
Page 220 and 221:
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231:
Page 232 and 233:
Page 234 and 235:
Page 236 and 237:
Page 238 and 239:
Page 240 and 241:
Page 242 and 243:
Page 244 and 245:
Page 246 and 247:
Page 248 and 249:
Page 250 and 251:
Page 252 and 253:
Page 254 and 255:
Page 256 and 257:
Page 258 and 259:
Page 260 and 261:
Page 262 and 263:
Page 264 and 265:
Page 266 and 267:
Page 268 and 269:
Page 270 and 271:
Page 272 and 273:
Page 274 and 275:
Page 276 and 277:
Page 278 and 279:
Page 280 and 281:
Page 282 and 283:
Page 284 and 285:
Page 286 and 287:
Page 288 and 289:
Page 290 and 291:
Page 292 and 293:
Page 294 and 295:
Page 296 and 297:
Page 299 and 300:
Page 301 and 302:
Page 303 and 304:
ASIA E F G H SALES EASTERN EUROPE (
Page 305 and 306:
show all

pdf (22.8 MB) - METRO Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?