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METRO FY Adj. EBITDA To Be At Upper End Of Guidance Range - Quick Facts

METRO (MTTWF.PK) said, after a strong recovery in the second half, the company finished the fiscal year at the upper end of the sales guidance. The sales were flat or down 0.4% adjusted for first time consolidations. Due to negative currency effects, especially in Turkey and Russia, sales were down 3.4% to 24.8 billion euros. The adjusted EBITDA is also expected to reach the upper end of the guidance range.

According to preliminary and unaudited figures, fourth quarter sales increased by 9.5% to 7.1 billion euros. Sales in local currency were up 9.9%. The Group noted that the sales in Western and Eastern Europe were above pre-pandemic level.

Steffen Greubel, CEO of METRO AG, said: "It shows once again that our targeted investments in market share gains as well as service and product quality are paying off. Therefore, we will continue to invest in growth, among other things by expanding our sales force."

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