German wholesaler Metro AG has reported positive sales growth in the fourth quarter of its financial year, driven by the consistent implementation of its sCore strategy.
The company attributed its good performance to growth in its delivery business and the Metro Markets platform.
The wholesale giant saw year-on-year sales growth of 3.8% in the fourth quarter, to €8 billion.
In Germany, quarterly sales remained at the previous year’s level, while the West segment grew by 0.7%, Russia by 10.1%, and the East segment by 7.4%.
Dr Steffen Greubel, CEO of Metro AG, stated, “Metro successfully maintained its sales growth in Q4 2023/24, despite a persistently challenging market environment.
“At the same time, we close the fiscal year with a sales increase of 5.9% and growth across all segments and sales channels.”
Annual Highlights
For the full year, the company’s sales were in the upper half of its guidance range.
It expects adjusted EBITDA at the lower end of its guidance range, due to ongoing transformation requirements in the wholesale business, cost pressures, and the expiry of post-transaction effects.
As a result, the company foresees a negative EPS.
Greubel added, “This result underscores the effectiveness of our sCore strategy, the transformation of our wholesale business, and our multichannel approach. At the same time, the economic landscape and the outlook for the coming year remain challenging.
“We remain focused on sustaining our growth trajectory, with increased emphasis on efficiency and productivity, ensuring we are well prepared for any challenges and opportunities in the coming year.”
In August, Metro acquired UK-based food service distribution (FSD) specialist Caterite Food and Wineservice for an undisclosed amount.
