Metro Group Ups Sales and Earnings in 2008

Germany’s Metro Group has turned in record sales and earnings for the full year 2008, group sales rose 5.8 percent to €68 billion ($93 billion). EBIT before special items grew by 7.1 percent to €2.2 billion ($3.0 billion). The international share of sales reached a new record of 60.8 percent. In Western Europe, sales were up by 2.2 percent to €21 billion ($29 billion). In Eastern Europe, sales rose 15.3 percent to €18.1 billion ($24.6 billion) and in Asia/Africa, Metro Group generated an increase in sales of 18.6 percent to €2.2 billion ($3.0 billion).

Sales at department store group Galeria Kaufhof fell 1.1 percent to €3.5 billion ($4.8 billion) — performing better than the market sector, Metro says. EBIT increased by 5.8 percent to €113 million ($154 million).

Metro Group operates in 32 countries with 2,195 stores. In 2010, it will enter the Chinese market through its Media Markt consumer electronics fascia following a joint venture deal with electronics and computer components business Foxconn Technology Group.

“In a distinctly more difficult economic environment, we fully met our guidance for the financial year 2008,” says Eckhard Cordes, chief executive officer of Metro. “This is something that only very few companies have been able to achieve.”

Brought to you by