Metro Group's sales fell 2.2% to €46.3 billion in their third quarter financial report released today. The average estimate of 12 analysts was €46.4 billion.
"We have delivered what we promised in the short financial year 2013: We reached our sales target and can confirm our EBIT guidance", said Olaf Koch, Chairman of the Management Board of METRO AG.
Reported sales of €46.3 billion in 2013 came in slightly below last year's performance due to the continually difficult trading conditions in many parts of Europe, the sale of Real Eastern Europe and negative currency effects. Hence, reported sales of €15.5 billion in the 3rd quarter were also slightly below prior-year.
However all sales lines reported an improved like-for-like sales trend.
"Especially the clearly positive like-for-like sales growth of 1% in Germany shows that we are on the right track with regard to the customer-centric realignment of METRO GROUP. We are well-prepared and confident for the upcoming Christmas trading period", said Koch.
