Metro Raises FY Outlook - Quick Facts

Metro (MTTWF.PK) said it raised its outlook for fiscal year 2021/22 due to rising inflation and better than expected business development.

The company now expects annual adjusted EBITDA to grow by approximately 150 million euros - 230 million euros from the previous year. Previously it was expected to grow slightly to moderately from the prior year.

The company now projects annual sales to grow by approximately 17% to 22% from the previous year. Previously, it expects annual sales growth to be 9% to 15%.

Metro said it continues the execution of its 'sCore' strategy and reconfirmed its mid-term ambition of 3-5% sales and EBITDA CAGR in the period 2022-2025.

The war in Ukraine continues to drive the RUB FX-volatility, which leads to non-cash valuation effects on METRO's intercompany positions. In third-quarter 2021/22, around 300 million euros negative non-cash impact on the financial result is expected. A weakening RUB would result in a positive valuation effect in the fourth-quarter 2021/22 or thereafter.

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