Asian countries records double-digit growth at METRO Q3
30 Oct '07
3 min read
METRO Group continued on its successful growth path in the Third Quarter. Compared to the prior year, the company increased sales by 10.8 percent to € 15.7 billion. This result was achieved despite the negative calendar effect due to one missing trading day.
Excluding the acquisitions of Wal-Mart Germany and Géant in Poland, sales went up by 7.1 percent. During the period from January to September 2007, METRO Group generated € 46.0 billion in sales, which corresponds to a rise of 10.8 percent.
“In view of the good business trend during the first nine months we are raising our sales forecast to now over 9 percent“, said Thomas Unger, Chief Financial Officer of the METRO Group.
“The growth driver continues to be our international business.“ Here, sales climbed 13.6 percent to € 9.2 billion during the Third Quarter. Excluding the acquisition of Géant in Poland international sales rose by 11.9 percent.
In Western Europe, sales grew by 4.1 percent during the Third Quarter. METRO Group achieved above-average growth in Eastern Europe and Asia where it recorded a plus in sales of 26.8 percent and 27.0 percent, respectively.
Compared to the same period last year, the share of international sales in consolidated sales rose from 57.4 percent to 58.9 percent.
In Germany, sales went up by 6.9 percent during the Third Quarter to reach € 6.4 billion. Despite the calendar effect, organic growth came in at 0.5 percent.
Earnings before interest, taxes, depreciation and amortization (EBITDA) during the Third Quarter increased by 12.1 percent to € 643 million. EBIT even improved by 14.8 percent to € 323 million.
marketing@alchempro.com
