Operating profit Metro C&C fell by 6.6% because of ruble’s collapse

Moscow. December 15. Operating profit (EBIT) before special items of Metro Cash & Carry (part of German Metro Group) in the 2014-2015 fiscal year (ended in late September) fell by 6.6%, to 1.05 billion euros of 1.125 billion euros in the previous fingado.

The drop is mainly due to the negative effect of exchange rate changes in Russia, says the report of the Metro Group.

With regard to EBIT before special items related to restructuring and measures to improve the effectiveness of the network in Germany has increased to 975 million euros, from 904 million euros a year earlier.

Revenue Metro C&C for the year decreased by 2.7% to 29,69 billion euros, including in Eastern Europe (to which the company classifies Russia) – by 9.1%, to 10,392 billion euros. Comparable sales (LfL) in Eastern Europe increased by 4.5%, despite the difficult political situation, said the company. In Russia, like-for-Like sales also increased, mainly due to inflation.

The Metro Group’s revenue for the year decreased by 1.2% to 59,219 billion euros, EBIT before spectate amounted to 1,511 billion vs. EUR 1,531 billion euros a year earlier.

Metro Group presented more than 2 thousand shops in 30 countries. In Russia the network of wholesale trade centers of Metro Cash & Carry (84 stores) and hypermarkets of electronics and home appliances Media Markt (67 stores), Metro Cash & Carry is among the five largest food retailers in the Russian market.

In the 2014 calendar year revenue Metro C&C in Russia increased by 14.3% to 209,5 billion. In 2015, the company does not expect a slowdown in sales, said earlier the CEO of the Russian division of Metro Cash & Carry Boris Meniali. CAPEX for 2015 is planned at 300 million euros, as a year earlier. Metro investments in opening of one shopping centre at an average of 20-22 million euros. In 2015, the retailer plans to open seven stores, as in the past year.