German department store operator Metro AG (MTTRY.PK, MTAGF.PK) reported that its fiscal 2012 net profit attributable to the shareholders plunged to 3 million euros from last year's 631 million euros, with earnings per share decreasing to 0.01 euro from 1.93 euros in the prior year.
Net profit attributable to the shareholders before special items decreased to 619 million euros from last year's 859 million euros. Earnings per share before special items amounted to 1.89 euros, down from 2.63 euros in the previous year.
The operating profit before special items amounted to 1.976 billion euros. Including special items, Group EBIT declined by 722 million euros to 1.391 billion euros. The special items totalling 585 million euros include, in particular, restructuring expenses, goodwill impairments and impairments in connection with the sale of MAKRO Cash & Carry in the UK as well as the termination of Media Markt's Chinese business and effects from the sale of Real's Eastern European business.
Annual sales rose by 1.2% to 66.7 billion euros.
The company said that its Management Board and Supervisory Board have proposed to the Annual General Meeting on 8 May 2013 a dividend of 1.00 euro per ordinary share, compared to 1.35 per ordinary share paid last year, and 1.06 euros per preferred share, compared to 1.485 per preferred share paid last year.
For the financial year 2013, Metro Group expects to generate moderate growth in sales , adjusted for portfolio changes. Metro Group expects EBIT before special items to increase compared to the level achieved in the corresponding period of the previous year of 704 million euros.
In the subsequent financial year 2013/14, Metro Group expects to see this moderate growth in sales continue compared with the respective period for the previous year.
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