German Metro reduced losses in the second fiscal quartal

German retail giant Metro announced on Wednesday that it had substantially reduced the loss in the second fiscal quartal. The loss made to share-holders was in the amount of 65 million EUR, whereas in the same period of the previous fiscal year it was 394 million EUR.

The loss per share was reduced to 20 eurocents, from 1.21EUR in the same period last year.

The company recorded in the second fiscal quartal the loss in pre tax and interests (EBIT) in the amount of 34 million EUR, as opposed to 564 million EUR, which was the amount in the same period of the previous year.

New results include specific costs in the amount of 44 million EUR. In the same period last year they were in the amount of 539 million EUR, and they were connected primarily with the pay-off of the non-material assets in Real.

Revenues were reduced in the same period by 0.9%, to 13.57 billion EUR, pressed by the negative influence of the portfolio and exchange rates discrepancies. If we leave out the influence of exchange rates discrepancies, they were increased by 0.7%.

On the domestic German market, their revenues increased by 1.7% per 5.4 billion EUR. On the international markets the 2.5% fall was recorded.

In the overall fiscal year, the group still expects slight growth of the total revenues, despite the very competitive economic surroundings.

Metro Group Diseldorf

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