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Metro AG Q1 Profit Down 12.7%; Affirms FY Outlook - Quick Facts

German food service company Metro AG reported that its profit attributable to the shareholders for the first quarter declined 12.7% to 202 million euros from last year's 232 million euros, with earnings per share decreasing to 0.56 euros from 0.64 euros in the previous year.

Profit from continuing operations for the quarter was 181 million euros or 0.50 euros per share, almost flat with 180 million euros or 0.50 euros per share a year ago.

EBITDA, excluding earnings contributions from real estate transactions, declined 6.8 percent to 470 million euros from 504 million euros in the same period of the previous year. Reported EBITDA decreased 6.4 percent to 472 million euros from 504 million euros a year ago.

Sales for the quarter decreased 0.6 percent to 8.02 billion euros from 8.07 billion euros in the previous-year period.

The company reported like-for-like sales growth of 2.3 percent in the quarter. This was mainly driven by Eastern Europe, excluding Russia, and Asia as well as a positive day effect.

Looking ahead, the company confirmed its outlook for financial year 2018/19.

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