Tag Archives: Olaf Koch

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BaFin approves the stock exchange listing for METRO Wholesale & Food Specialist AG

  • Exchange listing of the shares of new METRO expected by Mid-July 2017
  • Current METRO AG shares to become CECONOMY shares
  • Listing of the stock in the Prime Standard of the Frankfurt Stock Exchange intended

Düsseldorf, 2017-Jun-27 — /EPR Retail News/ — The Federal Financial Supervisory Authority (BaFin) has approved the stock exchange listing for METRO Wholesale & Food Specialist AG (future METRO AG). Following the positive decision by the Higher Regional Court of Düsseldorf (Oberlandesgericht), this is another step in the process of demerging METRO GROUP into two strong, successful and strategically focused companies. The shares of the new METRO AG are expected to be listed on the stock exchange by Mid-July 2017. According to current plans, the demerger of the former METRO GROUP into new METRO AG, a leading Wholesale and Food specialist, and the future CECONOMY AG, number one for Consumer Electronics in Europe, is expected to be entered into the commercial register by the middle of July. The former METRO AG is expected to be renamed CECONOMY following registration of the demerger. On the first day of trading, each shareholder in the previous METRO AG will receive a share in the new METRO AG in addition to their future CECONOMY share. These new shares are entitled to dividends for the financial year beginning 1 October 2016. The common shares of new METRO AG have the International Securities Identification Number (ISIN) DE000BFB0019 and the securities identification code (Wertpapierkennnummer – WKN) BFB 001; the stock code is B4B. The ISIN of the preferred shares is DE000BFB0027, the WKN is BFB 002 and the stock code is B4B3. Following successful completion of the registration, the custodian bank of the shareholders will credit the shares of new METRO to the custodian of the respective shareholder of the future CECONOMY.

“Our ambitious timetable is still fully on track, and we are now on the home straight: Two dynamic, clearly focused and well positioned companies in their industries will come into being. With the listing of new METRO planned for Mid-July 2017, both companies will now be able to grow independently and to position themselves in an agile and flexible manner”, says Olaf Koch, Chairman of the Management Board of METRO AG and future CEO of the Wholesale and Food Specialist business.

The shares of new METRO are expected to be listed in the Prime Standard on the Regulated Market of the Frankfurt Stock Exchange and on the Regulated Market of the Luxembourg Stock Exchange.

On 6 February 2017, the shareholders of METRO AG approved the demerger with an overwhelming majority at the Annual General Meeting in Düsseldorf. Following the allocation of the shares of new METRO and the acquisition of shares, the shareholders will be able to independently decide on an investment in the two shares of the future CECONOMY and the new METRO. The new METRO and future CECONOMY have been operationally independent since October 2016. The division allows both companies to act in a faster, more focused and more agile manner, in order to create more value for customers and shareholders.

The stock exchange prospectus is available to download at
www.metroag.de/en/investors/publications

The METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is an internationally leading specialist in wholesale and food retail. With its sales lines METRO Cash & Carry and Real as well as its other associated companies, METRO GROUP W&FS Co. operates in 35 countries and employs more than 150,000 people around the world. In 2015/16, METRO GROUP W&FS Co. achieved sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers.

This publication does not constitute an offer to sell or an invitation to purchase securities of METRO Wholesale & Food Specialist AG. No securities are offered or sold. The Securities Prospectus for the admission of the shares of METRO Wholesale & Food Specialist AG on the Frankfurt Stock Exchange and the Luxembourg Stock Exchange is available free of charge at METRO Wholesale & Food Specialist AG, Düsseldorf, Germany or at www.metroag.de/en/investors/publications.

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: METRO GROUP

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METRO GROUP and Yoma Strategic Holdings partner to develop one stop food distribution platform in Myanmar

Düsseldorf, 2017-Feb-28 — /EPR Retail News/ — METRO GROUP Wholesale & Food Specialist Company announces its joint venture partnership with the Singapore-listed Myanmar-focused Yoma Strategic Holdings Ltd. to develop a one stop food distribution platform in Myanmar. According to the agreement, METRO will take an 85% stake in the newly established joint venture called METRO Wholesale Myanmar Ltd., with the remaining 15% shares owned by Yoma Strategic Holdings.

“I’m pleased that METRO is now entering Myanmar, such a promising market that offers abundant opportunities for our B2B wholesale business. The establishment of the joint venture with Yoma Strategic Holdings marks an important step for this meaningful expansion”, said Olaf Koch, Chairman of the Management Board of METRO AG. “We are convinced that METRO’s proven expertise in areas such as food safety and supply chain management will strongly contribute to the development and upgrade of the local supply and distribution infrastructure.”

As the first step, METRO will open a depot for wholesale distribution located in Yangon’s Thilawa Special Economic Zone, with the construction work scheduled to start in March 2017, and the depot is expected to open in beginning of 2018. By focusing on a pure delivery model instead of constructing a classic brick and mortar store METRO underlines the increasing strategic importance on food service distribution and efficient use of investment which will be in the low double-digit EUR million range for Myanmar.

METRO’s efficient one stop wholesale distribution platform will be a solution for a market which at current is fragmented, with retailers often having to source their products through a complex mix of local retail and wholesale distributors as well as importers. From this platform over 3,300 food and non-food high quality products as well as customized services will be delivered to the professional customers including hotels, restaurants, catering firms, independent small retailers and offices. It aims to effectively address the evolving needs of the local professional customers, who now increasingly seek products of consistently reliable quality and good value. In addition to exploring its own unique sourcing expertise and channels to secure high quality products, METRO will leverage on Yoma Strategic Holdings’ logistics and warehousing infrastructure to facilitate the key supply chain build-up for Myanmar. “We are confident that our partnership with METRO will bring global know-how in modern wholesale distribution and contribute to bringing reliable and safe food to the people of Myanmar”, said Melvyn Pun, Yoma Strategic Holdings’ Chief Executive Officer.

In many countries of its operations, METRO works very closely with the local community to improve the food safety through series of dedicated and tailored training programs for the farmers and producers. This approach will be applied too in Myanmar to make joint efforts with various stakeholders to support the improvement of the food safety. After careful analysis, trainings will be developed and carried out to equip local farmers with necessary awareness, knowledge and skills in the areas such as production, harvesting, processing and packaging. Trained and qualified farmers will contribute to an efficient, sustainable and reliable supply chain of METRO Myanmar but also the overall well-being of the community.

The METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is an internationally leading specialist in wholesale and food retail. With its sales lines METRO Cash & Carry and Real as well as its other associated companies, METRO GROUP W&FS Co. operates in 35 countries and employs more than 150,000 people around the world. In 2015/16, METRO GROUP W&FS Co. achieved sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers. More information is available at www.metrogroup.de and https://wfsco.metrogroup.de/

Listed on the Main Board of the Singapore Securities Exchange Trading Limited (SGX-ST), Yoma Strategic Holdings Ltd. is a leading business corporation with a diversified portfolio of businesses in Real Estate, Consumer, Automotive & Equipment, and Investments in Myanmar. Together with its partner, the SPA Group, the Group is taking a conglomerate approach to build a diversified portfolio of businesses in Myanmar. The Company was ranked in the top 10% of the Governance and Transparency index for three consecutive years (2014 – 2016), ranked 17th out of top 100 largest Singapore companies in the Asean Corporate Governance Scorecard 2015 and won the Best Managed Board (Gold) Award at the Singapore Corporate Awards in 2016. More information is available at www.yomastrategic.com

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: METRO GROUP

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METRO GROUP: the Wholesale and Food Business to be called METRO; the Consumer Electronics division to be called CECONOMY

  • New company names published: It is intended that, in the future, the METRO GROUP Wholesale and Food Specialist Company will be called METRO, the METRO GROUP Consumer Electronics Company will be called CECONOMY
  • Two focused, independent companies present their equity stories at the Capital Markets Day
  • After effective date of the demerger, both companies expected to qualify for the MDAX
  • Management teams confirm planned dividend continuity
  • Separation at ratio of 1:1: it is proposed that each shareholder of the former METRO AG will receive one share of the new METRO AG in addition to the METRO (future CECONOMY) share

Düsseldorf, 2016-Dec-20 — /EPR Retail News/ — Through its planned demerger, METRO GROUP is launching two strong, successful and strategically focused companies. For the first time, the Wholesale and Food Specialist and the company focused on Consumer Electronics are set to present their strategies as independent entities. At the Capital Markets Day in Düsseldorf, company names and brand positioning will be presented for the first time: It is intended that, in the future, the Wholesale and Food Business will operate under the corporate brand METRO, while the Consumer Electronics division will operate under the brand CECONOMY.

“Today, two dynamic companies with the best positioning in their sectors will introduce themselves. Each of these companies has established a strong and future-proof strategic, operative and financial position – and as independent companies we will set our course for sustainable and healthy growth,” said Olaf Koch, Chairman of the Management Board of METRO AG, at the Capital Markets Day in Düsseldorf. “Our Wholesale and Food business is already one of the leading international companies, and we will gain momentum in all 35 countries in which we operate our store-based and delivery business.”

Pieter Haas, designated CEO of the future CECONOMY, said: “We are the number one in European Consumer Electronics and we have created an excellent starting position for our upcoming independence through a comprehensive realignment. We currently generate €22 billion in annual sales and have nearly two billion customer contacts each year. All our stores are now fully digitised and integrated into our multichannel strategy. We combine the emotional shopping experience in our stores with the benefits of digital technologies. With our products and services, we are present for our customers on all channels and we are their partner and daily companion in an increasingly digitising world. We are ready! I am convinced that our best years are yet to come.”

Wholesale and Food business: Realignment offers ideal conditions for continued appreciation in value

The new METRO AG is an internationally leading specialist in wholesale and food retail and primarily comprises METRO Cash & Carry and Real, in addition to delivery specialists and other companies. METRO is active in 35 countries with local wholesale companies and delivery specialists (Classic Fine Foods, Rungis Express, Pro à Pro, Midban). This business has attained an excellent position in its markets, both through its leading role in the self-service wholesale trade, but also through a growing presence in the delivery business. In financial year 2014/15, METRO Cash & Carry introduced a new operating model to increase growth and sales. It gives far more entrepreneurial freedom to the individual countries and allows for greater customer focus. METRO profited from the focus on increased customer value; for 13 quarters in a row, like-for-like sales have increased and profitability has improved substantially.

The second activity under the new roof is Real, a leading large-scale full-range supplier (hypermarket) in the food retail sector in Germany. Real operates 285 hypermarkets in Germany. Following a phase of consolidation, Real has created the economic framework for future growth, particularly by implementing new market concepts, an agreement with the trade union and procurement cooperation with Markant and PHD. As a benchmark for the distribution of dividends, the future METRO AG confirmed a targeted range of 45 to 55% of the company’s earnings per share.

Largest supplier of consumer electronics in Europe is well-positioned for further growth and increased profitability

Separation of the companies at a ratio of 1:1 – MDAX qualification expected for both companies

While it is intended that the former METRO AG will continue to exist as future CECONOMY AG and will constitute the Consumer Electronics business, it is planned that the Wholesale and Food Specialist will be spun off as an independent, stock-listed company and will operate under the established name of METRO. The separation of METRO GROUP into two independent companies will be proposed to the shareholders at a ratio of 1:1. Hence, each shareholder of the former METRO AG will receive one share of the new METRO AG in addition to the CECONOMY share. These new shares are entitled to participate in dividends for the financial years starting 1 October 2016. The future CECONOMY will hold 10% of the future METRO AG. 1% of the share capital is paid in return for the transfer of the assets to be spun off; the disposal is blocked for seven years. The remaining 9% also constitutes a purely financial participation and does not involve any managerial role at the future METRO AG. This participation is subject to a customary holding period of six months. CECONOMY is the holding company of Media-Saturn, the European number one in consumer electronics on the basis of its sales of €22 billion (financial year 2015/16), market share, selling space and its 65,000 employees. Media-Saturn is active in 15 European countries and is the market leader in nine of them. All of the more than 1,000 stores have now been made multichannel ready and have been converted to digital technology. In combination with its strong web presence, the company currently reports 5.8 million customer contacts per day. In the past two years, Media-Saturn has increased sales and improved profitability. Media-Saturn intends to utilize its solid financial structure and experienced management to increase internet and online-induced sales in particular, expand its services business and lead consolidation in the sector. In principle, the company intends to base its dividend payment on a payout ratio of 45 to 55% of the earnings per share.

The annual general meeting of METRO AG will vote on this demerger on 6 February 2017. The decision to separate the businesses requires a majority of three-quarters of the share capital of METRO AG represented at the annual general meeting. All three anchor shareholders of METRO AG – together holding almost 50% of the vote – have already indicated their support for the demerger. These anchor shareholders have also agreed to a holding obligation (so-called lock-up) conforming to usual market conditions and other restrictions on disposal.

Right after the effective date of the demerger, all shares of the new METRO AG are expected to be admitted for trading in the Prime Standard of the Frankfurt Stock Exchange; a secondary listing on the Luxembourg Stock Exchange is planned. The Management Board of the former METRO AG expects that both companies will meet the MDAX criteria and will be listed in this market segment. The aim is to achieve Investment Grade Rating for both companies. As a result of the demerger, costs for taxes in the single-digit millions and transaction costs amounting to approximately €100 million are expected to be incurred.

Composition of the Management Boards and the Supervisory Boards

With effect from the date of the separation, probably in mid-2017, the future METRO AG will be managed by a Management Board that will be reduced from five to four members and headed by the Chairman of the Management Board Olaf Koch. The current Board members Pieter Boone (COO) and Heiko Hutmacher (Human Resources) will be joined by Christian Baier, previously CFO of METRO Cash & Carry, as the new CFO. It is intended that the Management Board of CECONOMY will consist of three persons: Besides designated Chairman of the Management Board Pieter Haas and CFO Mark Frese (both Board members at the old METRO AG), it is planned that Dr. Dieter Haag Molkenteller will serve as the Chief Legal and Compliance Officer.

As a result of the demerger of METRO AG, the 20-person strong Supervisory Boards of the companies will also be reconstituted. Some of the current members of METRO AG’s Supervisory Board are expected to be appointed to the new Supervisory Board. As reported, it is planned that the Supervisory Board of the new company METRO AG will be chaired by METRO’s current Chairman of the Supervisory Board Jürgen B. Steinemann. The following persons are designated to become further members of the Supervisory Board and representatives of the shareholders: Gwyn Burr, Dr. Florian Funck, Peter Küpfer, Mattheus P. M. (Theo) de Raad and Dr. Fredy Raas. The remaining shareholder representatives have not yet been appointed at this stage.

As previously reported, it is proposed that Jürgen Fitschen will chair the Supervisory Board of CECONOMY. The independent management consultant Dr. Bernhard Düttmann will be nominated for election at the next annual general meeting in place of Jürgen B. Steinemann who will be stepping down. Dr. jur. Hans-Jürgen Schinzler will remain a member after the spin-off. Regine Stachelhaus will be newly recommended for election to the Supervisory Board. She will be nominated in place of Prof. Dr. Ann-Kristin Achleitner who will withdraw. In place of Gwyn Burr, who will move to the new METRO AG, Julia Goldin, Member of the Executive Board of Lego A/S, Billund/Denmark is nominated for election. In place of Mattheus P.M. (Theo) de Raad, who will also move, British national Jo Harlow, Member of the Board of InterContinental Hotels, is nominated for election. Further proposals have not been finalised at this point.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €58 billion in financial year 2015/16. The company operates at more than 2,000 locations in 30 countries and employs some 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

More information at www.metrogroup.de

This press release may contain forward-looking statements based on current assumptions and forecasts made by Metro management and other information currently available to METRO. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. METRO does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: METRO GROUP

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Ten start-ups to present at the 2nd Demo Day of METRO / Techstars Accelerator

  • Ten start-ups make presentations at the second Demo Day of METRO Accelerator powered by Techstars
  • Digital business models for the food service and hospitality sector presented to about 300 international investors and experts
  • Acceleration of digitisation in the food service and hospitality sector and new momentum for the entire industry
  • New accelerator programme focusing on digital solutions for retail to be launched in June 2017

Berlin, 2016-Dec-09 — /EPR Retail News/ — At the Demo Day, the 10 international teams of the METRO Accelerator powered by Techstars presented their innovative business ideas to about 300 global investors, experts and multipliers. The Demo Day marks the completion and highlight of the second round of the world’s first accelerator programme focusing on digital solutions for the food service and hospitality sector. After three intensive months in our co-working space in central Berlin – including comprehensive mentoring and coaching by leading industry experts under the leadership of METRO and Techstars – the founders now aim to attract more investors for their business concepts.

“Digitisation is increasingly asserting itself in the food service and hospitality sector as well. It’s our goal to actively shape this transformation and help our customers to become even more successful,” says Olaf Koch, Chairman of the Management Board of METRO AG. “With our accelerator programmes, we support innovations and help founders to test, improve and bring their ideas and solutions to market. We give them start-up assistance, provide support through our network and know-how, and are a critical companion and door opener. Many solutions simplify business processes, increase efficiency or improve the customer experience. In the end, the entire industry benefits from new business models and technological solutions.”

Ten teams from seven countries were selected from more than 600 applications for the programme in October 2016 and were each supported with up to €120,000. During the three-month accelerator programme in the German Tech Entrepreneurship Center in Berlin, the start-ups gained access to market expertise and to METRO’s customer and supplier networks. About 120 external mentors provided intensive support in more than 500 consulting hours dedicated to the start-ups. Many teams have successfully established products in the market or sharpened their business model and positioning in the accelerator.

“Highly motivated founders have refined relevant solutions for their customers in the accelerator. The great interest shown by investors at the Demo Day demonstrates that we are on the right track and confirms our course. We are helping new business models to grow and are connecting our customers with the digital world,” Koch says.

Three of the 10 teams redesigned their business models completely: Apparier, Frag Paul (Ask Paul) and Hyre changed their brand and positioning.

“The founders have made enormous progress in a short period of time and with a tight programme. We are proud to support them with our advice, expertise and network, and to move them forward. The 10 international teams show that innovations also enable growth in areas that have barely been digitised so far, such as the food service and hospitality sector,” says Alexander Zumdieck, Managing Director METRO Accelerator for METRO AG.

“METRO Accelerator powered by Techstars is a poster child and benchmark in the international start-up scene. In combination with the Demo Day and the alumni programme, we have created a unique platform for innovation and investment,” adds Jens Lapinski, Managing Director METRO Accelerator for Techstars.

The start-ups from the first programme also show positive developments. In cooperation with Lunchio, among others, METRO is currently building up a pilot project for digitised restaurants in major cities. Flowtify was able to refine its business model and gained another prestigious investor in High-Tech Gründerfonds. In total, eight of the 11 participating start-ups from the first programme have already been able to attract third-party investments in addition to the funds provided by Techstars and METRO.

The existing accelerator programme with a focus on the food service and hospitality sector will continue in 2017. Furthermore, METRO has launched another programme in cooperation with Techstars: the METRO Accelerator for Retail powered by Techstars focuses on digital solutions for the retail sector. Applications can be submitted until 12 March 2017.

For more information, go to www.metroaccelerator.com

Under the umbrella of the METRO Accelerator powered by Techstars, METRO and Techstars, in two programs, help international start-up teams in the development of digital solutions. One of the programs focuses on solutions for the hotel, restaurant and catering sector while the second program is aimed at the retail industry. In the framework of the three-month programs organised in Berlin, experienced mentors and experts will in each case help ten selected startups to successfully develop their own business further with regard to customers and investors. The METRO Accelerator powered by Techstars was launched in 2015 with a regularly hosted hospitality program that is the unique in the world. More information available at www.metroaccelerator.com

The METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is an internationally leading specialist in wholesale and food retail. With its sales lines METRO Cash & Carry and Real as well as its other associated companies, METRO GROUP W&FS Co. operates in 35 countries and employs more than 112,000 people around the world. In 2014/15, METRO GROUP W&FS Co. achieved sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers. More information available at www.metrogroup.de

Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey – from the idea to venture capital investments to M&A and IPO. For more information visit www.techstars.com.

Contact:

METRO GROUP Wholesale & Food Specialist Company
Corporate Communications and Public Policy
Telephone +49 (0) 211 68 86-42 52
presse@metro.de

Source: METRO GROUP

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New METRO Accelerator for Retail powered by Techstars to drive digital solutions for the retail sector

  • New METRO Accelerator for Retail powered by Techstars: METRO and Real jointly focus on digital services for the retail sector
  • In search of innovations and technologies for independent traders and retailers
  • Three-month program for ten international start-up teams complements existing Accelerator program for the digitisation of the hospitality sector
  • Applications welcome now at www.metroaccelerator.com

Düsseldorf, 2016-Nov-18 — /EPR Retail News/ — In a tried and tested cooperation with Techstars, the METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is launching a new start-up program under the umbrella of the METRO Accelerator to drive digital solutions for the retail sector. This will be the first time that METRO and Real, together, assume the role of expert coaches for the start-ups. The “METRO Accelerator for Retail powered by Techstars” complements the Accelerator program for digital solutions in the hotel, restaurant and catering industry which has been running successfully for the past two years. The new program will kick off on 12 June 2017 in Berlin.

The second Accelerator of METRO GROUP W&FS Co. addresses start-ups offering innovative digital applications for independent traders, a key customer group of METRO Cash & Carry and of large hypermarkets which are the business model of Real who participates as a new partner in METRO’s Accelerator program. Over a period of three months, experienced mentors and experts will support ten selected international start-ups in Berlin to further refine their business model and establish themselves in the market. The METRO Accelerator for Retail powered by Techstars is the first accelerator that systematically promotes digital applications for independent traders (B2B2C) and also for Real as one of the leading hypermarket chains (B2C).

We are looking for start-up teams who develop technology-based services and products to accelerate business processes in the retail sector or to intensify customer relationships and bring them into the digital age. Digital applications are to make METRO’s customers even more successful in the future and Real as an important German hypermarket chain is to benefit from further innovative impulses. The range of digital solution users extends from kiosks, local grocery stores, service stations or delivery services all the way to franchise retail chains and hypermarkets.

As from now and throughout 12 March 2017, interested start-ups from the world over can submit their application for the start-up program on the English language website www.metroaccelerator.com. The teams must complete a questionnaire and can optionally also upload a video. The complete application process is in English. In telephone interviews and face-to-face meetings, an experienced jury of investors and mentors will select the ten most promising start-ups.

“The core of our strategy is to help our customers to become even more successful in their businesses. Here, digital solutions play an increasingly important role. After successfully establishing the METRO Accelerator for the hospitality sector together with Techstars the time has come to take the next step. We are convinced that independent traders can strongly benefit from digital solutions – with regard to customer communication, new services and also in terms of their business operations. That is why we are now launching the METRO Accelerator for Retail. Together with Techstars, we want to help innovative companies to develop successfully. In this process, the start-ups will receive extensive support, like for example access to more than 100 mentors”, says Olaf Koch, Chairman of the Management Board of METRO AG.

The METRO Accelerator for Retail powered by Techstars, just like the Accelerator for the hospitality sector, comprises a three-month program in Berlin. Ten selected start-ups from all over the world will be intensively supported by mentors in the process of further developing their innovations. To this effect, METRO Cash & Carry which operates in 25 countries with 21 million customers worldwide and Real will contribute the extensive expertise of its specialists from the fields of Procurement, Sales, Marketing, Strategy, Finance, Legal and Communications. “With the Accelerator program, we can systematically expand our innovation leadership in German food retail developed over many years. With around 300 locations in Germany, an average sales floor of around 8,000 square meters, an assortment of up to 80,000 articles and up to one million customers per day, Real like no other company offers the ideal platform for start-up teams to test their technical innovations in the German retail sector”, says Real’s CEO Patrick MüllerSarmiento.

Techstars contributes its internationally proven process for the Accelerator program and a network of more than 3,000 mentors, investors and experienced members of the start-up community.

While the Hospitality Accelerator is regularly hosted in autumn in Berlin, the METRO Accelerator for Retail powered by Techstars will kick-off on 12 June 2017 in Berlin. After three months of work with more than 100 international mentors, the start-ups will present their company to investors, leading industry representatives and the public on the so-called Demo Day in September 2017. The program offers the following to the participants:

 Ten selected teams will each receive an offer €120,000 worth of investment
 Access to the top management and expert networks of METRO, Real and Techstars
 Mentorship by METRO, Real and Techstars as well as by other leading industry representatives, investors and entrepreneurs
 Use of free co-working spaces in the heart of Berlin for the duration of the program
 Membership in the international Techstars and METRO Accelerator alumni network

“With the second accelerator program we can promote start-ups even more specifically and thereby build on the success of our first program. The Retail Accelerator is strategically important for us and highly relevant for our customers. We are looking for the world’s best B2B and B2C innovations for the retail sector: from augmented reality applications for the shopping experience of the future to digital solutions for retail or hypermarket logistics all the way to tech-based systems for the operation of franchise chains”, explains Alexander Zumdieck, Managing Director METRO of the METRO Accelerator for Retail.

Alexander Hafner, Managing Director Techstars of the METRO Accelerator for Retail, adds: “With METRO and Real, the start-ups have the opportunity to interact with leading and well-networked retail partners over a three-month period. The retail sector is one of the markets with the strongest digital growth rates and therefore the exchange between start-ups and industry experts in the framework of the Accelerator represents the key for developing important competitive advantages. That way, innovative business models are created that benefit METRO’s specialist trade partners and the end users.”

Companies and start-up teams from all over the world who are interested in participating in the METRO Accelerator for Retail powered by Techstars can now submit their application online until 12 March 2017. The Retail Accelerator will be organised alternately with the Hospitality Accelerator which has been running successfully for two years already.

More information available at: www.metroaccelerator.com

Under the umbrella of the METRO Accelerator powered by Techstars, METRO and Techstars, in two programs, help international start-up teams in the development of digital solutions. One of the programs focuses on solutions for the hotel, restaurant and catering sector while the second program is aimed at the retail industry. In the framework of the three-month programs organised in Berlin, experienced mentors and experts will in each case help ten selected startups to successfully develop their own business further with regard to customers and investors. The METRO Accelerator powered by Techstars was launched in 2015 with a regularly hosted hospitality program that is the unique in the world. More information available at www.metroaccelerator.com

The METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is an internationally leading specialist in wholesale and food retail. With its sales lines METRO Cash & Carry and Real as well as its other associated companies, METRO GROUP W&FS Co. operates in 35 countries and employs more than 112,000 people around the world. In 2014/15, METRO GROUP W&FS Co. achieved sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers. More information available at www.metrogroup.de

Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey – from the idea to venture capital investments to M&A and IPO. For more information visit www.techstars.com.

Contact:

METRO GROUP Wholesale & Food Specialist Company
Corporate Communications and Public Policy
Telephone +49 (0) 211 68 86-42 52
presse@metro.de

Source: METRO GROUP

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The METRO Accelerator powered by Techstars kicks off at the German Tech Entrepreneurship Center in Berlin

Berlin, 2016-Sep-13 — /EPR Retail News/ — The METRO Accelerator powered by Techstars is kicking off its second round with ten new start-ups. The international teams from seven cities and five countries will participate in a three-month, intensive programme at the offices of the German Tech Entrepreneurship Center in Berlin where they will receive active coaching from around 100 mentors from the founders, investor and hospitality scene and up to €120,000 of start capital each. Above and beyond this, METRO will support the start-ups with its infrastructure, network and know-how throughout this period. With the second round, the METRO Accelerator powered by Techstars is developing into a platform for cooperation and networking among industry players. The maturity of the young companies played a significant role in the selection process of the start-ups for this year’s Accelerator. Many teams have already successfully established products in the market.

“In this second round, the quality of the start-ups and the value that they can offer our customers – entrepreneurs in the hospitality sector – is once again extremely impressive,” said Olaf Koch, Chairman of the Management Board of METRO AG. “The teams won us over with their innovative ideas and strong personal dedication. These ideas can lead to solutions that harness significant benefits for our customers in the hospitality sector. This is exactly what the Accelerator programme focuses on. Its goal is to turn good ideas into sustainably successful business models within the three months. We are very excited about our collaboration with the start-ups and Techstars.”

In an extensive selection process that lasted several weeks and involved more than 600 applications, ten start-ups qualified for the METRO Accelerator 2016. They come from London, Ottawa, Tel Aviv, Melbourne, Berlin, Cologne and Stuttgart, and thus from five countries and three continents.

The following start-ups made it to the METRO Accelerator powered by Techstars 2016:

Cheerfy from London, Great Britain – Cheerfy is dedicated to improving the customer experience in hotels and restaurants. To this effect, the start-up uses Wi-Fi hotspots as beacons.

eStaffMatch from Ottawa, Canada – This online marketplace connects event organisers with event staff.

Hoard Spot from Berlin – This app allows for a safe handover of keys in local businesses, cafés and kiosks: those who make their apartment available to guests and cannot hand over the keys personally can safely deposit them using Hoard Spot.

Jagger from Tel Aviv, Israel – Jagger is a chatbot assistant for restaurant managers and offers an intuitive chat interface, allowing them to control important processes in a company.

Pantree.co from Melbourne, Australia – Pantree.co is a co-commerce platform that brings together business partners in the food service and hospitality sector for handling all buying and selling processes.

Reputize from London, Great Britain – This online platform uses big data for the reputation management of hotels.

resment from Cologne – resment is a digital HR management system that assists small and medium-sized enterprises in human resources planning and payroll accounting.

Smunch from Berlin – Smunch is short for Smart Lunch and delivers good and healthy lunches to offices. In this way way, the start-up wants to promote team lunches at work.

tsenso from Stuttgart – This company improves the supply chain in the food industry with the help of automated sensor solutions and temperature documentation.

Venue10 from London, Great Britain – Venue10 is an online reservation platform that supports restaurant owners in managing the capacity of their businesses.

The young entrepreneurs will use the next 13 weeks to improve their business models and teams with the professional support and networks of industry experts, and will develop their models with a view to their target groups. “The METRO Accelerator powered by Techstars is the world’s number one accelerator for start-ups in the hospitality sector. Techstars and METRO each have decades of experience in their industry. By combining their competences and networks, we are creating a top-of-theline ecosystem. The ten teams will quickly find out how essential the right network and our mentoring programmes are,” explained Jens Lapinski, Managing Director Techstars of METRO Accelerator.

“We are pleased to have found ten excellent start-ups that are relevant for all fields of activity in a restaurant or hotel. We are excited to watch their development over the next three months,” said Alexander Zumdieck, Managing Director METRO of the METRO Accelerator. “With this programme, we are the industry leader and pioneer in the field of open innovation. We have access to the best mentors and industry experts to drive the businesses of the ten growth companies. With this second round, the METRO Accelerator powered by Techstars is increasingly developing into a community that connects the key stakeholders of this business sector.”

The Accelerator is organised by METRO together with its American partner company Techstars, the international accelerator network, and supports the development of innovative digital solutions for the hospitality sector. METRO uses this programme to unlock added value and innovation and to make this available to customers from the hospitality industry, such as restaurants, cafés and hotels. The participating start-ups in turn benefit from the large networks of the two partners METRO and Techstars.

On 7 December, the teams will present their successes to selected investors and industry experts at the Demo Day. More information about the different stages and the details of the programme are available at www.metroaccelerator.com, blog.metroaccelerator.com and on Twitter at @MetroAccel.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets. For more information, please visit www.metrogroup.de.

Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey – from the idea to venture capital investments to M&A and IPO. For more information visit www.techstars.com

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: Metro Group

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METRO GROUP’s planned demerger into two independent and stock-listed retail companies underway

Düsseldorf, 2016-Sep-06 — /EPR Retail News/ —  After the successful completion of the analysis phase, the planned demerger of METRO GROUP into two independent, strong and stock-listed retail companies is taking concrete shape: the necessary details with regard to corporate law, tax law and the respective capital structure of the two entities were clarified. Today (5 September 2016), the Management Board of METRO AG, after completion of the reviews, has decided to start with the preparations required for a demerger of METRO GROUP. The Supervisory Board approved the plans on the occasion of an extraordinary meeting held on Monday. Effective from 30 September, the group will be split into two organizationally separate entities on a pro-forma basis.

“In the past months we have intensively analysed the planned split of our group into two strong and focused trading companies”, said Olaf Koch, Chairman of the Management Board of METRO AG. “Now, we are creating the first important prerequisites and will implement the according actions. With the organisational separation, we are taking the first major step towards creating a leading international Wholesale and Food Specialist as well as the European market leader for Consumer Electronics products and services. The developments of the past few months have confirmed our belief that these two entities with hardly any operational overlaps and synergies will be even more successful when operating independently”.

Technically, the group split is achieved by spinning off and separate the Wholesale and Food business (METRO Cash & Carry and Real) as well as other related entities and business activities such as logistics, IT and real estate. The remaining group activities will essentially comprise the roughly 78% majority shareholding in Media-Saturn as well as other affiliated companies.

At the same time, the following key personnel decisions for both new entities are intended: Jürgen B. Steinemann is to retain his mandate as Chairman of the Supervisory Board of METRO AG for the future Wholesale and Food Specialist Group and Jürgen Fitschen, member of the Supervisory Board of METRO AG since 2008, is to assume the office of Chairman of the Supervisory Board of the future Consumer Electronics company. For the positions of Management Board of the Wholesale and Food Group following proposals have been made:

· Chief Executive Officer (CEO): Olaf Koch, as already communicated
· Chief Financial Officer (CFO): Christian Baier, currently CFO METRO Cash & Carry
· Chief Operating Officer (COO): Pieter Boone, currently Member of the Management Board of METRO AG, responsible for METRO Cash & Carry
· Chief Human Resources Officer (CHRO): Heiko Hutmacher; currently Member of the Management Board and CHRO of METRO AG

Following proposals have been made for the Management Board of the Consumer Electronics unit:

· Chief Executive Officer (CEO): Pieter Haas, as already communicated
· Chief Financial Officer (CFO): Mark Frese; currently Member of the Management Board and CFO of METRO AG
· Chief Legal and Compliance Officer (CLCO): Dieter Haag Molkenteller, currently Group Director Legal Affairs & Compliance METRO AG

All Management Board positions have to be approved by the respective Supervisory Boards, the actual confirmation is under the usual reserve of the annual general meeting or relevant supervisory board.

In parallel, METRO GROUP defined the business strategies for the two future entities and also developed clear capital and tax structures for them. The demerger concept was already aligned with the tax authorities. It is expected, that both groups will maintain the “investment grade” rating. An increase in the capital stock of METRO AG is not planned. To strengthen the capital base of the Consumer Electronics company, a 10% shareholding in the Wholesale and Food business is envisaged. In the same way, almost all existing financial liabilities of the group are to be assumed by the Wholesale and Food company. “The new capital structure will give both entities the necessary stability and scope for further growth. Both companies will be endowed with sufficient liquidity”, said Olaf Koch.

In late March 2016, the Management Board of METRO AG had announced that it would examine a split of the group into a Wholesale and Food Specialist company and a company focused on Consumer Electronics products and services as the logical next step in the transformation of the group. Both companies are to be managed as separately listed stock corporations with their own distinct profile, management and Supervisory Boards. The underlying conviction is that, by focusing on their respective industry and customer segment, both companies will be able to develop larger growth perspectives. Both companies stay based in Düsseldorf.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

For more information, visit www.metrogroup.de

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: Metro Group

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METRO GROUP appoints Michael Wedell to take over management of newly created function Corporate Communications and Public Policy

Düsseldorf, 2016-Sep-01 — /EPR Retail News/ —  Effective 15 September, METRO GROUP is combining its functions Corporate Communications and Public Policy under one roof. The current Group Director Corporate Public Policy of METRO AG, Michael Wedell, is taking over the management of the newly created function Corporate Communications and Public Policy.

Wedell joined METRO GROUP in 2009 as the founding director of the group’s representative office in Berlin and has been responsible for the representation of group’s global interests and foreign affairs since 2014. As before, Wedell is reporting to Olaf Koch, Chairman of the Management Board of Metro AG. Rüdiger Stahlschmidt, currently Director External Communications of METRO AG, will be heading Corporate Communications within the new function Corporate Communications and Public Policy, taking on responsibility for internal and external communications. As such, he will report to Michael Wedell.

With the merger of functions, communications with the relevant target groups are to be linked more closely and allow intensified and more efficient cooperation. Bundling the political, external and internal communications is of particular importance for the strategic positioning of the group and will enhance a clear approach to all stakeholders.

Michael Wedell, who before joining Metro gathered experience with the economy, politics and media, is succeeding Peter Wübben who is leaving the company on his own initiative at the end of September.

Rüdiger Stahlschmidt started his career at METRO AG in 2008 as a spokesman and headed METRO AG’s press department effective 2010 before moving up to his current position as Director External Communications in 2013.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets. More information on www.metrogroup.de

Contact:
METRO AG
Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Phone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de
@Metro_Comms

Source: Metro Group

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METRO GROUP acquires stake in the leading provider of iPad based POS systems for restaurants in the German-speaking region

Düsseldorf, Germany, 2016-May-16 — /EPR Retail News/ — METRO GROUP acquires a stake in the Berlin-based start-up orderbird, the leading iPad based point of sale system for restaurants in the DACH region. With this move, METRO GROUP underscores its commitment to digitalisation in the hospitality sector. By investing into yet another start-up with digital solutions for restaurants, METRO GROUP consistently pursues its policy of becoming a one stop shop partner for its customers from the hotel and restaurant business.

“With this partnership, orderbird and METRO pursue a common goal: making restaurant businesses more successful with the help of digital solutions”, says Olaf Koch, Chairman of the Management Board of METRO AG. “By acquiring a stake in orderbird, we are taking another important step towards our goal of offering value added for our customers through digital solutions. In this process, we will contribute both our industry expertise and our access to a large custom base.”

The Berlin-based start-up orderbird is the leading provider of iPad based POS systems for restaurants in the German-speaking region. No matter whether they want to place orders, cancel or rebook them: with orderbird, restaurant operators and their service staff can quickly and conveniently take orders with mobile devices, flexibly split bills and create tax-authority-compliant reports. The orderbird POS software runs on the mobile Apple devices iPad, iPod touch and iPhone. It can therefore replace both the conventional cash register on the bar counter and also the server’s paper order blocks with modern and networked technologies. Immediate forwarding of the order data makes it possible for restaurants to offer a faster and more accurate service. This enhances customer loyalty and satisfaction. In addition, a large number of structured, real-time reports allow for the continuous optimisation of one’s own business in every application scenario.

As new shareholders and strategic partners, METRO GROUP and the growth equity investor Digital+ Partners invest a total of €16.5 million into orderbird AG. In the framework of a secondary investment, the current investor Concardis participates in this funding round by acquiring shares from existing investors. orderbird thus holds a €20 million funding round. Together with its strategic partners and the freshly collected capital, the Berlin-based start-up plans to further drive product development and its expansion into the European market. The planned market entry into France this year marks the starting point for further growth.

METRO GROUP with its sales line METRO Cash & Carry, which operates in 25 countries worldwide and offers access to 21 million active wholesale customers, is an important partner for the further growth of orderbird. These customers will benefit from the digital services for their own businesses. To promote digitalisation in the hotel and restaurant business, METRO launched a support programme entitled “METRO Accelerator powered by Techstars” for start-ups offering digital solutions for the HoReCa sector already back in 2015.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance ofMETRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

orderbird (www.orderbird.com) is the provider of the multiple award winning tablet POS system for restaurant businesses. Whether ordering, cancelling or rebooking – with the orderbird POS, restaurant operators and service staff can fast and conveniently take orders with their mobile device, use flexible payments options, and create GDPdU-compliant financial reports. With more than 5,500 customers – restaurants, cafes, bars, clubs, ice cream parlours and beer gardens – the orderbird POS ranks among the most popular POS systems of its kind in the restaurant sector in Germany, Austria, Switzerland, Great Britain and Ireland. The orderbird AG was founded in 2011 by Jakob Schreyer, Bastian Schmidtke, Patrick Brienen and Artur Hasselbach and today has a headcount of 120+ employees.

Contact Media Department

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001

E-Mail METRO GROUP: presse@metro.de

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Techstars powered METRO Accelerator opens the application process for its second programme for start-ups

  • Wanted are international start-ups that promote the digitalisation of the restaurant, hotel and catering sector
  • Ten selected teams are offered €120,000 investment and access to METRO’s and Techstars’ network of experts
  • Continuation of the world’s first accelerator for digital solutions in the food tech and hospitality industry, starting in September in Berlin
  • Applications for the METRO Accelerator programme are accepted online until 20 June 2016 via the websitewww.metroaccelerator.com

Düsseldorf, Germany, 2016-Apr-14 — /EPR Retail News/ — METRO Accelerator, powered by Techstars, is commencing the application process for its second programme for start-ups, whose digital services and companies could give a direct boost to the commercial success of restaurants, hotels and catering businesses. “The great success of the first round, with 11 international start-ups, proved to us that we should immediately up the ante and make the many opportunities of digitalisation more readily accessible to our customers in the restaurant and hotel sector. I am convinced that digital business models and services will play an even bigger role for the success of our customers in the future,” says Olaf Koch, Chairman of the Management Board ofMETRO AG. “More and more business founders are coming to us with new digital ideas. With the continuation of METRO Accelerator, we wish to provide them with a fast and efficient opportunity to test their projects with the help of our international experts in the area of wholesaling and food, and to advance these projects in the market. We offer potential access to a very large customer base and extensive contacts in the hospitality industry that start-ups barely receive elsewhere.”

From now until 20 June 2016, interested start-ups from all over the world can submit an application for the programme on the English-language website www.metroaccelerator.com. The teams must fill out a questionnaire and can upload a video, if they wish. The whole application is to be completed in English. An expert jury composed of investors and mentors will choose the 10 most promising start-ups. The programme will get under way in Berlin on 12 September. After three months’ working with more than 100 international mentors, the start-ups will present their company to investors, industry leaders and the general public on the so-called Demo Day in December 2016.

“The potential in this still underdeveloped founder segment is vast and the market for digital solutions in the hospitality industry is growing rapidly,” says Alexander Zumdieck, METRO managing director of METRO Accelerator. “We received several hundred interesting international applications for our first Accelerator round last year, far more than we anticipated. We expect a similarly strong response for the second round,” Zumdieck explains.

Once again, innovative businesses are being sought, with the ultimate aim of delivering added value for the restaurant, hotel and catering sector. They could be solutions for entire business areas – multichannel, new applications to gain customer loyalty and optimise business processes are just as conceivable as new digital products and special services. Start-ups at all maturity levels and from all over the world can apply, and neither their legal structure nor the age of the team members is relevant to the application. What is important is that a team is available and can work for the duration of the three-month programme in Berlin from mid-September. The whole programme is conducted in English.

As a renowned partner, Techstars will continue to be responsible for start-up development in the METRO Accelerator programme for the next three years. “After the successful conclusion of the first programme, we are delighted to be developing the promising start-up segment further, together with METRO,” says Jens Lapinski, Techstars managing director of METRO Accelerator. “As one of the world’s most well-known start-up ecosystems, Techstars contributes its internationally tested programme and a network of more than 3,000 mentors, investors and experienced members of the start-up community. To date, we have invested in more than 1,000 company founders. You remain a member of the Techstars network for life, not just for the duration of the programme.”

Further information on the process and details of the programme can be found at www.metroaccelerator.com and on Twitter at @MetroAccel.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance ofMETRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of startup programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors, and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey – from early stage grassroots community development to more formal opportunities that provide education, experience, acceleration, funding, and beyond.

For more information visit www.techstars.com.

Contact Media Department

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001

E-Mail METRO GROUP: presse@metro.de

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METRO AG prepares demerger into two independent and sector focused companies: Wholesale and Food Specialist group, and Consumer Electronics group

  • Creation of two independent, stock-listed companies as market leaders in their respective sectors
  • Separation of METRO GROUP into a Wholesale and Food Specialist group, and a Consumer Electronics group
  • Both companies with improved focus, quicker decision making processes, more flexibility and improved operational efficiency
  • CEO Koch: “The creation of two independent companies would be the logical next step in the transformation of our business towards more growth, customer centricity and entrepreneurship.”
  • Aimed for completion until mid-2017

Düsseldorf, Germany, 2016-Apr-02 — /EPR Retail News/ — The Management Board of METRO AG is preparing the creation of two independent and sector focused companies through a demerger of the group: A Wholesale and Food Specialist group, as well as a Consumer Electronics products and services group. Both entities would become individually stock-listed, with their own distinct profile, Management and Supervisory Boards. The aim would be to give each of the companies and their respective management full control over their corporate strategies. This will further increase customer focus, accelerate growth of the businesses, simplify structures and improve time-to-market and operational excellence. Moreover, both entities would be able to independently pursue acquisition and partnership strategies, enabling them to define their own expansion strategies.

Management and Supervisory Boards will make a decision on the contemplated demerger of METRO GROUP after a period of intensive consultation and review. Should ongoing assessments prove to be positive and the shareholders vote in favor, the implementation of the demerger is aimed for mid-2017.

“Over the past years, we have successfully revitalized our core businesses while significantly strengthening our group balance sheet,” said Olaf Koch, CEO of METRO AG. “Both our Wholesale and Food Specialist business as well as our Consumer Electronics business have continued to commercially improve, are on a steady successful path and are best-equipped for an independent future. Our shareholders would effectively own two well positioned market leaders, both of whom are increasingly focusing on their respective business areas and are generating more value for customers, employees and business partners.”

The demerger would see METRO AG separated into two independent businesses: A Wholesale and Food Specialist group (comprising METRO, MAKRO and their associated entities as well as Real) and a Consumer Electronics products and services group (comprising Media-Saturn and its portfolio of strong formats and brands). The two businesses currently have very limited operational overlap and very limited synergies.

Subject to the approval of the respective Supervisory Boards, it is intended that the Wholesale and Food Specialist entity would be run by Olaf Koch, currently CEO of METRO AG, while the Consumer Electronics group would be headed by Pieter Haas, currently member of the Management Board of METRO AG and CEO of Media-Saturn. Other board positions have yet to be decided. The implementation of the demerger is targeted by mid-2017, subject to customary approvals. METRO AG’s anchor shareholders Haniel, Schmidt-Ruthenbeck and Beisheim support the intention of METRO AG’s Management Board for a demerger into two independent companies.

Jürgen Steinemann, Chairman of the Supervisory Board of METRO AG, said: “I feel very strongly that a split into two independent and focused businesses would be in the best interest of all stakeholders, as it would facilitate a significant opportunity for faster and more profitable growth. Having discussed it in great depth, I fully support the initial results of the review conducted by the Management Board.”

The demerger would be executed through a spin-off of METRO Cash and Carry, Real and other related businesses and services companies from current METRO AG, which would subsequently fully focus on the consumer electronics sector under a new company name. This would enable both entities to strengthen their focus on the initiated transformation and innovation programs, while pursuing corporate development into significantly broadened spheres. It would also make the distribution and utilization of investment capital in both of the new entities clearer.

It is envisaged that METRO AG shareholders would receive shares in both companies in proportion with their existing holdings. Following final decisions by the Management Board and the Supervisory Board, shareholders would be invited to a General Meeting in order to discuss and vote on the proposed demerger. An analysis of current company structure, governance, growth opportunities, legal and tax consequences and financial aspects has shown that, from a shareholder perspective, the proposed demerger would be commercially beneficial.

The creation of two independent organizations has been made possible by the successful transformation of METRO GROUP and its business segments over the past few years. METRO Cash & Carry has delivered ten consecutive quarters of like-for-like growth and improving earnings, despite a challenging environment. Media-Saturn has achieved six consecutive quarters of like-for-like growth, an all-time high market share and strong earnings in the last fiscal year. Both businesses now have strong financial profiles and significant growth as well as value potential. Recent successes have been achieved through a strong customer focus and continued efforts to tailor the business models to local requirements. With the sale of GALERIA Kaufhof in 2015 and various other changes in the portfolio such as the sale of METRO Cash & Carry Vietnam and Real International over the past years, focus on METRO AG’s core businesses has been enhanced, and the group’s balance sheet strengthened, preparing the grounds for such a change.

METRO GROUP will hold a press conference today at 12:30 p.m. at the “Melia” Hotel in Düsseldorf (Inselstraße 2, 40479 Düsseldorf). It will also be broadcasted live.

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates over 2,000 locations in 29 countries and employs more than 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

Contact Media Department

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001

E-Mail METRO GROUP: presse@metro.de

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METRO GROUP achieved like-for-like sales in Q1 2015/16 on prior year level (0.1%)

  • Group like-for-like sales in Q1 2015/16 on prior year level: +0.1%
  • Very good Christmas business in Germany with like-for-like sales increased by 2.1%
  • Currency adjusted sales growth at METRO Cash & Carry compensates for portfolio changes
  • Media-Saturn with positive sales development especially in Germany and Western Europe
  • Sale of METRO Cash & Carry Vietnam successfully completed; positive EBIT effect of more than €400 million

Düsseldorf, Germany, 2016-1-12 — /EPR Retail News/ — According to preliminary figures, METRO GROUP achieved like-for-like sales in Q1 2015/16 on prior year level (0.1%).METRO Cash & Carry and Media-Saturn showed sustained positive development in terms of like-for-like sales. In the corresponding quarter of the previous year, sales in Russia benefited from pull-forward effects in the course of the rouble crisis, which then were even compensated through the overall strong Christmas quarter in 2015. METRO GROUPsales in local currency fell just slightly by 0.1%. Reported sales fell by 1.5% to €17.1 billion (Q1 2014/15: €17.3 billion) due to the development of exchange rates – primarily that of the Russian rouble – and portfolio effects in particular. “The positive development in terms of like-for-like sales at METRO Cash & Carry and Media-Saturn continued into financial year 2015/16. We can also look back on a very good Christmas business, particularly in our domestic market, Germany, with like-for-like sales rising by 2.1% in December,” said Olaf Koch, Chairman of the Management Board of METRO AG. “We remain confident for financial year 2015/16, despite the difficult environ-ment, and expect positive development thanks to the range of measures introduced in our sales lines. We retain our original forecast.”

Strategic realignment has allowed METRO GROUP to make progress in introducing new services, expanding delivery and multichannel business and portfolio optimisation in Q1 2015/16.

METRO GROUP completed the sale of its cash & carry business in Vietnam successfully end of December 2015. The EBIT effect of more than €400 million will be included in Q1 2015/16 accounts. Therefore the reported result will increase significantly in Q1.

In Q1 2015/16, METRO GROUP opened a total of 11 new stores across 8 countries: 5 METRO Cash & Carry- and 6Media-Saturn stores. Of the new stores, 5 are located in the important expansion countries Russia, Turkey and India. Due to the sale of METRO Cash & Carry Vietnam the total number of METRO Cash & Carry stores decreased by 19. In addition, 2 Media-Saturn stores in Russia and 1 in Italy were closed.

METRO GROUP Q1 2014/15 Q1 2015/16
Sales (€ billion) 17.3 17.1
Change (€) -2.3% -1.5%
Change (in local currency) 0.5% -0.1%
Like-for-like 2.3% 0.1%

 

Development of the sales divisions in Q1 2015/16

 

METRO Cash & Carry

Sales at METRO Cash & Carry rose by 0.2% in like-for-like terms in Q1 2015/16, marking the tenth consecutive quarter of positive development. Sales in local currency fell just slightly by 0.1%. Reported sales declined by 2.4% to €8.0 billion. However, it should be noted that sales in the corresponding quarter of the previous year still included sales from business in Denmark and Greece. In addition, sales of METRO Cash & Carry Vietnam were only consolidated until the end of November 2015.

Sales at METRO Cash & Carry Germany experienced positive development. Christmas business gave sales a major push in December. The successful customer-focused initiative, which encompassed many marketing- and communication measures, made a very positive impression.

Moreover, sales in main countries such as Spain, Italy, Czech Republic and Romania developed positively.

In the corresponding quarter of the previous year, sales at METRO Cash & Carry in Russia benefited from pull-forward effects in the course of the rouble crisis. Sales declined based on this high benchmark from the previous year. All in all,METRO Cash & Carry in Russia was able to cement its position in a more difficult economic environment.

METRO Cash & Carry’s delivery business continued to perform extremely well, with the percentage share of sales rising further.

METRO Cash & Carry Q1 2014/15 Q1 2015/16
Sales (€ billion) 8.2 8.0
Change (€) -3.6% -2.4%
Change (in local currency) 1.1% -0.1%
Like-for-like 1.4% 0.2%

 

Media-Saturn

Like-for-like sales at Media-Saturn were up year on year in Q1 2015/16 by 0.4%. This marks the sixth consecutive quarter of rising sales. Sales in local currency grew by 1.1% while reported sales affected by the currency translation increased by 0.2% to €6.9 billion. Sales developed very positively in Germany.

In Western Europe, like-for-like sales performed well in several countries. In Eastern Europe, Russia had benefited from extensive pull-forward effects at the peak of the rouble crisis in December 2014, which is why sales in Russia declined considerably in the 2015 Christmas quarter. The good sales development in some other countries like Turkey, which recorded a double-digit like-for-like sales growth, and the robust performance in Germany could overcompensate the decrease in Russia.

Media-Saturn Q1 2014/15 Q1 2015/16
Sales (€ billion) 6.9 6.9
Change (€) 4.1% 0.2%
Change (in local currency) 5.6% 1.1%
Like-for-like 3.8% 0.4%

 

Real

Like-for-like sales at Real declined by 1.6% in the Christmas quarter. Store closures meant that reported sales declined by 3.8% to €2.1 billion year on year.

Sales development remained relatively stable in the intensely competitive food retail sector against the backdrop of price deflation, while sales in the non-food sector declined. Thereby particularly goods which are weather driven suffered from the unusual warm winter. Online sales developed extremely positively, but this was only able to partly compensate for the overall sales decline.

“The right frameworks must be created to improve Real’s competitiveness. This includes competitive conditions for labour costs. Overall, the realignment of Real according to the Essen model remains on the right course and we are ready to implement further steps, if the frameworks are right”, said Koch.

Real Q1 2014/15 Q1 2015/16
Sales (in € bn.) 2.2 2.1
Change(€) -0.8% -3.8%
Like-for-like 0.9% -1.6%

 

METRO GROUP is one of the most important international retailing companies. It generated sales of some €59 billion in financial year 2014/15. The company operates at more than 2,000 locations in 30 countries and employs some 230,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

Contact Media Department

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001
E-Mail METRO GROUP: presse@metro.de

SOURCE: METRO GROUP

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METRO Start-up Study 2015 shows digital tools continually gaining importance among restaurateurs and customers

  • METRO Start-up Study 2015 investigates the demand for digital tools and services in the hotel and food service industries
  • Young adults in particular want more digital services, like the option to reserve tables and pay via smartphone in restaurants and cafés
  • Business owners’ use of digital tools is so far largely limited to image-building and advertising
  • The mood among German food service start-ups is even better than last year

Düsseldorf, Germany, 2015-11-18 — /EPR Retail News/ — Fancy eating out? Why not use an app to reserve a table, select your meals and drinks from the digital menu and pay using your phone? This is what the future of the food service industry could look like if many consumers get their wish. The METRO Start-up Study 2015, conducted in collaboration with the German market research institute GfK, surveyed food service and hotel business owners and their customers. The representative survey shows that digital tools are continually gaining in importance among restaurateurs and customers. One in four Germans can imagine reserving a restaurant table online or via an app.

Customers also want to be able to pay using their mobile phones. One in five customers would like to settle their bill by phone, but only 8 per cent of businesses currently offer this option. When it comes to making use of digital technology, most business owners think primarily of websites, Facebook pages and online rating sites, according to the METRO Start-up Study 2015. Their declared aim is to make themselves more widely known and attract new customers. For instance, 60 per cent of businesses are active on social networks, and 84 per cent have an online presence – used by 21 per cent of consumers. The majority of businesses use digital accounting (60 per cent) and digital cash register systems (54 per cent). 47 per cent already use digital goods purchasing technologies. However, only one in five businesses uses digital technologies for personnel management.

“Our survey confirms that restaurateurs and hotel managers are recognising more and more the potentials of digital solutions, although these are still used quite moderately. At the same time, the interest in and the need for digital solutions among customers is rising.  This is a good opportunity for businesses to win customers through digital services,” says Olaf Koch, Chairman of the Management Board of METRO AG. Our study also reveals that it is primarily a lack of time that prevents business owners from investigating digital services. In addition, worries about data protection and investment risk also play a role. In future, we will be offering significant support to our customers when it comes to choosing the right digital services – to help them become even more successful in their day-to-day business.”

Entrepreneurs more optimistic than last year

Germans love restaurants: one in two regularly eats at one of the country’s nearly 75,000 establishments and the industry employs over 400,000 people – a good basis for the 2015 study. As in 2014, the study investigated the aims, motivating factors and attitudes of business owners. “The mood in the hotel and food service industries has improved again since 2014,” says Olaf Koch. “Our METRO Start-up Study shows that 80 per cent of self-employed businesspeople are satisfied with their situation.” Catering companies are particularly happy (88 per cent), compared with just 70 per cent of snack bar owners. Satisfaction levels are influenced primarily by the businesses’ financial situation – and by size: nine out of ten owners of businesses with an annual revenue of more than €500,000 describe themselves as satisfied.

Being one’s own boss is an important happiness factor: nearly all business owners (95 per cent) are positive about the fact that they can assume a high degree of responsibility. Creative work and scope for independent action are important positive aspects of being self-employed for eight out of ten business owners. The majority of business owners in the hotel and food service industries should therefore have achieved their expectations: for 81 per cent (6 percentage points lower than last year), the desire for independence was the most important factor driving the decision to set up their own business.

Shortage of qualified staff

The worry about finding suitable staff has risen by 8 percentage points compared with last year (79 per cent), and 93 per cent of restaurants regard the shortage of qualified staff as a big problem. In addition, even more business owners than last year (79 per cent compared with 70 per cent) are bothered by bureaucratic hurdles and industry regulations. The hotel industry in particular suffers from bureaucracy (87 per cent).

The METRO Start-up Study 2015

On behalf of METRO, the German market research institute GfK surveyed business owners in the food service and hotel industries about their attitudes, motivating factors and challenges, and the extent of digitisation in their businesses. It is the second study of its kind – the first one was conducted in 2014. Anonymous telephone interviews were carried out with a total of 350 people in September 2015. At the same time, GfK conducted a representative survey of German consumers (sample size: approximately 1,000 people) on expectations and user habits regarding digital services in the food service and hotel industries. The METRO Start-up Study 2015 can be accessed at www.metro-startupstudy.com.

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2014/15 it generated sales of around €59 billion. The company operates more than 2,000 stores in 30 countries and has a headcount of around 230,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing and Real hypermarkets. More information on www.metrogroup.de

METRO AG
Corporate Communications
Metro-Straße 1
D-40235 Düsseldorf

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001

E-Mail METRO GROUP: presse@metro.de

SOURCE: METRO GROUP

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METRO GROUP posts like-for-like sales growth of 1.5% in financial year 2014/15

  • Like-for-like sales growth of 1.5% in financial year 2014/15
  • Growth drivers online retail and delivery remain successful
  • METRO Cash & Carry and Media Saturn report like-for-like sales growth in both financial year 2014/15 and Q4 2014/15
  • Acquisitions Classic Fine Foods and RTS strengthen sales lines
  • Sale of Galeria Kaufhof successfully completed; net cash inflow of €1.75 billion, above original forecast
  • METRO GROUP anticipates good Christmas business

Düsseldorf, Germany, 2015-10-19 — /EPR Retail News/ — According to preliminary figures, METRO GROUP increased its like-for-like sales by 1.5% in financial year 2014/15. This means that the Düsseldorf-based retail and wholesale company has achieved its full-year sales target. Reported sales of €59.2 billion fell 1.2% short of the previous year’s figure due to negative currency and portfolio effects. However, sales in local currencies increased by 0.5%. “Financial year 2014/15 was a turning point for METRO GROUP,” said Olaf Koch, Chairman of the Management Board of METRO AG. “We managed to make our core business dynamic again and strengthened our balance sheet even further. We reached our full-year like-forlike sales target. We also confirm our guidance for EBIT before special items¹. Following the successful sale of Galeria Kaufhof, we also once again have the financial means to make further acquisitions to supplement and strengthen our sales lines, such as the recently acquired companies Classic Fine Foods and RTS.”

METRO GROUP’s like-for-like sales rose by 1.3% in Q4 2014/15. Both METRO Cash & Carry and Media-Saturn recorded increases in like-for-like sales in Q4 2014/15 and over financial year 2014/15 as a whole. Reported sales fell by 1.1% to €14.2 billion. However, this was due to currency and portfolio effects. Sales in local currencies increased by 1.9%.

METRO GROUP also significantly expanded its business in the strategic growth areas of online retail and delivery in Q4 2014/15 and, in doing so, reinforced its market position and customer relevance in many countries. METRO GROUP expects a positive Christmas business and has begun the current quarter with an optimistic outlook.

METRO GROUP has made further progress in optimising its portfolio: The most important event in Q4 was the completion of the sale of Galeria Kaufhof as announced on 30 September 2015. The value of the transaction stood at €2.825 billion, including various liabilities. METRO GROUP received the net cash payment of €1.75 billion, which was above the original forecast, in due time.

¹Adjusted for currency effects slightly above the €1,531 million achieved in financial year 2013/14, including typical levels of net income from real estate sales

FULL RESULTS

SOURCE: METRO GROUP

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Techstars METRO Accelerator announces the start-ups taking part in its programme

  • Techstars METRO Accelerator supports Digital Transformation in restaurants, hotels and catering companies
  • Eleven international startup teams are moving to Berlin for three months
  • New technologies help independent entrepreneurs from the hospitality industry develop their business

Düsseldorf, Germany, 2015-10-13 — /EPR Retail News/ — Techstars METRO Accelerator opens its doors today and announces the start-ups taking part in its programme. International teams from five countries are moving into the offices of German Tech Entrepreneurship Center in Berlin. For three months, they will benefit from the focused support of mentors as well as financial support to expand their business model internationally. The Accelerator is organised by METRO along with US partners Techstars and the advertising agency R/GA. It will foster the development of innovative solutions for the hospitality industry.

Eleven start-ups made it into the programme. Among them are companies that produce software solutions and apps for restaurant owners, caterers and hoteliers, such as www.1001menus.com, Flowtify or Wynd, travel and restaurant services such as Lunchio or Journy, and webshops such as Gastrozentrale.de. The companies are based in the United States, France, Estonia, Austria and Germany.

“The quality of the start-ups is impressive,” said Olaf Koch, CEO of METRO AG. “The teams have access to mentorship, technical support, help in company planning, sector expertise as well as financial support.” For Koch digitalisation is of great importance: “The Accelerator is a catalyst for value creation. Our customers in the hospitality sector can benefit a lot from new digital solutions. The Accelerator helped us to identify great business concepts. Now our focus will be on supporting them on their way to even more success. In a certain way this is the logical next step on our mission to be “champion for independent business”, both for our core customers and as well for start-up entrepreneurs. We see huge potential for digital solutions in the hospitality industry in Europe. That’s why we’ve developed this programme along with Techstars and R/GA.”

Several hundred start-ups from 20 countries applied for Techstars METRO Accelerator. Jury members who include industry experts selected the companies based on common criteria as well as their experience and knowledge. Starting today, the best start-ups will develop their digital solutions for restaurateurs and hoteliers in a three-month programme, ending with a “Demo Day” at the end of January 2016 when they will present themselves to potential investors.

“METRO is such a great brand in the industry, it has really helped attract great start-ups. The way METRO has contributed to this programme and offered access to the corporation shows real thought leadership,” summarised Managing Partner and Techstars co-founder David Brown.

Alexander Zumdieck, METRO Managing Director of Techstars METRO Accelerator, provided a glimpse into the selection process: “We filtered out the best start-ups from of hundreds of applications. It was not easy, since the quality of applications was very high. We looked at them from many different angles to choose the best teams and the most promising business models that will provide our core customers – independent business owners – with new products and services and make them more competitive.”

Rob Johnson, who runs Techstars METRO Accelerator along with Alexander Zumdieck, appreciates this great potential for development: “Our programme is the first accelerator in the world to be focused on the digital revolution in hotels and restaurants. We look forward to three intense months with these young technology companies. We’ll do our best to support the teams in their work on digital solutions in the food and hotel sector, and to open up any opportunities that we can for them.”

Our Website provides further information on Techstars METRO Accelerator, as does our Blog and newsletter. You can subscribe for free at blog.techstarsmetro.com.

The following companies impressed our expert jury:

Coffee Cloud

  • Founded: in Tartu, Estonia in 2015
  • Founder: Miroslav Kovač, Andreja Kovač
  • Coffee Cloud has developed an application with wireless connection for espresso machines that counts how many cups of coffee are made in real time and saves the data in Cloud. All drinks are reliably billed. At the same time, the device monitors the machines and informs the user when an appliance has to be repaired or cleaned.
  • www.coffeecloud.co

Flowtify

  • Founded: in Cologne, Germany in 2015
  • Founder: Daniel Vollmer (CEO), Gabriel Schlatter (CTO), Parshin Mortazi (co-founder)
  • Flowtify develops a tablet-app for quality and HACCP-management for restaurateurs and restaurants. HACCP (Hazard Analysis and Critical Control Points) is a concept for risk assessment of critical control points and serves as a preventative system for consumer protection by hygiene regulations. Using paperless checklists, employees can exercise, document and archive quality measure.
  • www.flowtify.de

Gastrozentrale.de

  • Founded in Munich, Germany in 2014
  • Founder: Moritz Grumbach (CEO)
  • Gastrozentrale.de is a B2B online shop for kitchen technology and restaurant/catering equipment. From small food stands to canteen kitchens, customers can easily order napkins, industrial refrigerators or patio heaters online.
  • www.gastrozentrale.de

GroupRaise.com

  • Founded in Houston, USA in 2011
  • Founder: Devin Baptiste (CEO), Kevin Valdez (COO), Paul Kwiatkowski (Chief Tenacity Officer), Sean Park (CMO)
  • GroupRaise.com helps to raise donations for aid projects. When a group books a table at a participating restaurant, a percent of the bill will be donated to a help project of their choosing. Restaurants can this way increase their capacity in difficult times.
  • www.groupraise.com

Journy

  • Founded in New York City, USA in 2014
  • Founders: Susan Ho (CEO), Amy Guo (CTO), Leiti Hsu (Chief Journyist)
  • Users tell Journy what they want to see and do in any particular city. The service then consults local experts and puts together an individual tailor-made travel plan. The package costs 50 dollars per city.
  • www.gojourny.com

Lunchio

  • Founded in Witten, Germany in 2015
  • Founder: Deniz Caglayan (Head of Marketing), Dennis Ortmann (Managing Partner), Jan Christian Saupe (CFO), Sebastian Blautzik (CTO)
  • Lunchio is an online waiter and restaurant guide for lunch. Users select a restaurant in their city, pre-order their favourite meal and pay. When they arrive at the restaurant, they don’t have to wait and can eat their lunch right away.
  • www.lunchio.de

Poshpacker

  • Founded in Washington DC, USA in 2013
  • Founders: Anna Kojzar (CEO), Tania Cruz (Co-Founder)
  • Thanks for Poshpacker, travelers can easily and affordably book creative hotels, hostels or apartments around the world. The hotel booking site distinguishes itself from the competition by offering extraordinary places to sleep like igloos and caves.
  • www.poshpacker.co

Roomatic

  • Founded in Tallinn, Estonia in 2014
  • Founders: Andreas van de Castel (CEO), Arnis Vuškāns (CTO)
  • Roomatic allows hotel guests to communicate their needs with their smartphone. The user orders a taxi by app or registers a problem easily with the application, or get in touch directly with room service.
  • www.roomatic.net

rublys

  • Found in Vienna, Austria in 2013
  • Founder: Manuel Zwittag (CEO)
  • rublys is a gambling mobile-marketing-instrument with which companies can win new customers. With the app and free of cost, users can choose scratch cards from companies, scratch and win prizes.
  • www.rublys.com

Wynd

  • Founded in Paris, France in 2013
  • Founders: Ismaél Ould (CEO), Arthur Perticoz (CMO)
  • Wynd offers a software package with various modules for restaurateurs to help them digitalize their restaurants or cafés.
  • www.wynd.eu

1001menus

  • Founded in Paris, France in 2010
  • Founders: Xavier Zeitoun (CEO), Thomas Zeitoun (Key Account Director), Julien Balmont (CTO)
  • 1001menus has developed a restaurant software that helps restaurants to create their own websites in a quick and simple way, as well as to manage their reservations. Furthermore, restaurants can easily let their customers know what’s new, like changes to the menu, with their newsletter and social media tool.
  • www.1001menus.com

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates more than 2,000 stores in 30 countries and has a headcount of around 230,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing and Real hypermarkets.

SOURCE: METRO GROUP

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METRO GROUP sells Galeria Kaufhof including all locations in Germany and Belgium to the Canadian Hudson’s Bay Company for EUR 2.825 billion

  • Closing date of transaction 30 September 2015
  • Transaction value: €2.825 billion
  • Net cash inflow of €1.75 billion for (today’s) end of METRO AG’s financial year as at 30.09.2015
  • Rating-relevant net debt reduced by €2.85 billion

Düsseldorf, Germany, 2015-10-1 — /EPR Retail News/ — METRO GROUP successfully concludes the sale of Galeria Kaufhof including all locations in Germany and Belgium to the Canadian Hudson’s Bay Company as of 30 September 2015, as planned.

“With the disposal of Galeria Kaufhof, we are continuing with the transformation process and debt reduction at METRO GROUP and are able to focus on the METRO Cash & Carry, Media-Saturn and Real sales lines. We know that Galeria Kaufhof is in good hands and wish all employees the very best,” commented Olaf Koch, Chairman of the Management Board of METRO AG. “We will also use a part of the proceeds for acquisitions in order to strengthen and supplement our METRO Cash & Carry and Media-Saturn sales lines. The recently acquired companies Classic Fine Foods and RTS are prime examples.”

The agreed transaction value is €2.825 billion including various liabilities. In this context, METRO GROUP refers to the joint press release of the parties as of signing of the transaction as well as the latest quarterly earnings release of HBC (Second Quarter Events in the MD&A). The net cash inflow amounts to around €1.75 billion and is above previous forecasts. “With this agreement, we are on the right track to reducing our net debt to below €3.2 billion as of 30 September 2015 and to further improving our rating-relevant key figures”, added Mark Frese, CFO of METRO AG.

In the annual financial statements for 2014/15, which will be published on 15 December 2015, METRO GROUP forecasts a positive EBIT effect of some €750 million from the disposal of Galeria Kaufhof which will be reported as a special item. The divested operations of Galeria Kaufhof with around 17,000 employees and 134 locations generated sales of €3.1 billion in financial year 2013/14.

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing and Real hypermarkets.

SOURCE: METRO Group

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METRO GROUP launches its official flagship store exclusively on Alibaba Group’s Tmall Global platform

  • The two companies establish strategic partnership to expand their e-commerce endeavors  in China
  • METRO GROUP opens cross-border e-shop on Alibaba Group’s Tmall Global platform offering German goods to Chinese consumers
  • METRO GROUP and Alibaba Group to explore further collaboration opportunities in sourcing, supply chain and big data

Düsseldorf, Germany, 2015-9-8 — /EPR Retail News/ — METRO GROUP today announced a strategic partnership with the leading Chinese online and mobile commerce company Alibaba Group to promote business in China’s rapidly growing e-commerce market. According to the agreement signed by both firms today, the German retailing company METRO GROUP is launching its official flagship store (https://metro.tmall.hk) exclusively on Alibaba Group’s Tmall Global platform offering a range of German products to the Chinese consumer.

Operating over 80 wholesale markets in China under the banner METRO Cash & Carry, METRO GROUP is now expanding its channels by opening on Tmall Global innovative cross-border e-shop platform to further tap the great potential of the Chinese consumer market. The online storefront will sell products of METRO GROUP’s sales divisions’ private labels as well as supplier brands from Germany. In the first phase, over 100 products in the categories of dairy, canned foods, coffee, and chocolate from METRO Cash & Carry Germany as well as cosmetics goods from Real are to be offered online. The product assortment is planned to be expanded with more food items from METRO Cash & Carry and non-food from Real on the e-shop.

“We are pleased to enter into this remarkable partnership with Alibaba Group. E-commerce is one of our strategic growth drivers in China. Opening the flagship store on Tmall Global again shows our clear confidence in the Chinese market, where we possess a solid commercial position and proven track record for high quality and broad assortment,” said Olaf Koch, Chairman of the Management Board of METRO AG. “This latest innovative platform enables us to deliver more quality imported goods and German brands to the Chinese customers through our competence in global sourcing and supply chain.”

The international shipping from Europe to China is performed in advance to ensure sufficient stock is stored in the Shanghai Free Trade Zone warehouses. Chinese customers are thus able to benefit from cross-border delivery directly from the Shanghai Free Trade Zone and fast customs clearance fulfilled by Alibaba Group’s specialized service team.

Daniel Zhang, CEO of Alibaba Group, said: “This partnership will encompass collaboration in areas including cross-border e-commerce, logistics, rural e-commerce, online supermarket and online-offline initiatives.  Insights provided by Alibaba Group’s Big Data will help METRO GROUP effectively capture the demand for quality imported products among Chinese consumers. Additionally, Alibaba Group and METRO GROUP will work together to help more European consumer brands establish fast-track solutions for expanding into the Chinese market.”

In addition to the cross-border e-shop, both companies also agree to explore omni-channel and comprehensive collaboration opportunities in areas including global sourcing of quality products in different categories, supply chain optimization and market insights leveraging on big data. For example, METRO GROUP will support the establishment of the Germany Pavilion on Tmall by introducing high-quality German products from small to medium-sized brands to Chinese consumers.

 

About METRO GROUP
METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

About METRO China
Having entered the Chinese market in 1996, METRO currently runs 82 wholesale markets in 57 cities in China with over 12,000 employees, serving about 4 million professional customers. Over the past nearly 20 years, METRO China has successfully developed its competence in food safety and quality assurance, freshness and wide assortment. E-commerce is one of the strategic growth drivers for METRO China.

About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses.

Corporate Communications
Metro-Straße 1
40235 Düsseldorf

Telephone +49 (0) 211 68 86-42 52
Fax +49 (0) 211 68 86-20 01

www.metrogroup.de
presse@metro.de

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Canada-based Hudson’s Bay Company to acquire Metro’s department store group GALERIA Kaufhof and its Belgian subsidiary Inno for €2.825 billion

  • Creates a Global Platform, Positioning HBC for Future Growth in Europe
  • Transaction Value of €2.825 Billion Agreed, Including the Assumption of Certain Liabilities
  • HBC Plans to Work with GALERIA Kaufhof’s Existing Management Team to Further Strengthen Offerings to Consumers
  • Agreement Includes Extensive Commitments to Maintain Employment Levels and Store Count, GALERIA Kaufhof to Remain Headquartered in Cologne
  • Transaction Expected to Deliver Immediate Value to HBC Shareholders
  • METRO GROUP Expects Positive EBIT Effect of Around €0.7 Billion from the Transaction
  • Transaction Should be Completed by the End of the Third Quarter of 2015
  • Joint Press Conference on Monday in Cologne at 11:15 AM

Düsseldorf, Germany, 2015-6-15 — /EPR Retail News/ — Canada-based Hudson’s Bay Company, one of the foremost retail operators in North America and its longest continually operated company, and Düsseldorf-based METRO GROUP today announced that they have entered into a definitive agreement under which HBC will acquire Metro’s department store group GALERIA Kaufhof and its Belgian subsidiary Inno for a transaction value of €2.825 billion, including the assumption of certain liabilities. The transaction has been approved by the Board of Directors of HBC as well as the Supervisory Board of METRO AG. It is expected to close by the end of the third quarter of 2015.

As a result of the acquisition, HBC will have:

  • 464 Locations Worldwide, 8 Leading Banners
  • C$13 (€9.0) Billion in Revenue(1)
  • Pro Forma Sales by Market: 44% US; 31% Germany 23% Canada, 2% Belgium
  • Strong Management Teams in North America and Europe

The transaction is a further extension of HBC’s proven strategy of growing through mergers and acquisitions, with GALERIA Kaufhof further diversifying HBC’s portfolio and positioning the Company as a premier international retailer. Specifically, HBC is taking over 103 GALERIA Kaufhof stores in Germany from METRO GROUP, including 59 properties in prime inner-city locations that are part of the GALERIA Real Estate portfolio. As part of the transaction, HBC is also acquiring 16 Sportarena stores, 16 GALERIA Inno department stores located in Belgium, as well as various logistics centres, warehouses and other properties, and the long-standing GALERIA Kaufhof head office in Cologne.

Richard Baker, HBC’s Governor and Executive Chairman, said, “This is an exciting transaction that demonstrates our proven growth formula in action, and it is the right investment and the right time. We have been carefully surveying the European retail landscape for many years for a potential expansion opportunity and have watched GALERIA Kaufhof build on its exceptional real estate to become the #1 department store in Germany. We are excited to work with the GALERIA Kaufhof management team to leverage our expertise, and we welcome GALERIA Kaufhof to our portfolio of dynamic brands.”

Olaf Koch, Chairman of METRO’S Management Board, said, “With Hudson’s Bay Company, we have found the ideal partner for a successful future of GALERIA Kaufhof. HBC pursues a strategy of international growth and GALERIA Kaufhof plays a central role in this expansion. Beyond the attractive financial and transactional aspects, a key factor for us was the fact that HBC has made binding guarantees to take on the approximately 21,500 GALERIA Kaufhof employees in Germany and Belgium. We also would like to thank all employees of GALERIA Kaufhof and its management for their outstanding contribution to the business and their great work. Without their dedication, the company would not have achieved, and maintained, its No 1 position.”

With this transaction METRO GROUP will achieve a positive cash inflow of around €1.6 billion and significantly reduce its rating-relevant net debt by around €2.7 billion. Moreover METRO GROUP expects a positive EBIT effect of around €0.7 billion from the transaction.

As part of the Agreement, HBC will continue to operate GALERIA Kaufhof, Inno and Sportarena under their current brand banners. No significant changes, beyond those already announced by GALERIA Kaufhof, are currently anticipated with respect to the store footprints or staffing levels at any of the brand banners, and GALERIA Kaufhof will remain headquartered in Cologne. When combined with HBC’s current portfolio of iconic store banners, including Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5TH and Home Outfitters, HBC will operate 464 stores under 8 banners, with 44% of sales generated in the United States, 31% in Germany, 23% in Canada and 2% in Belgium.

GALERIA Kaufhof’s existing management team is expected to remain in place following the close of the transaction, and will work closely with HBC’s leadership to explore opportunities to further strengthen GALERIA Kaufhof’s offerings to consumers. These are expected to include: expanding the GALERIA Kaufhof brand matrix; aggressively growing GALERIA Kaufhof’s eCommerce; optimizing key merchandise categories; and pursuing the opportunity to introduce the Saks Fifth Avenue and the Saks OFF 5TH banners in Germany and Belgium, and the potential to build within the existing store network to improve productivity and optimize floor space.

Kaufhof Acquisition Strengthens HBC’s Position as a Premier International Retailer

Jerry Storch, CEO of HBC, said, “This transaction is a significant step forward in our plans to become a premier global retailer. We look forward to working with GALERIA Kaufhof’s management team as we bring together two geographically complementary businesses, diversifying HBC’s revenue base with leading banners in Canada, the United States, Germany and Belgium. This is a strong foundation to explore additional opportunities for growth throughout the Continent.”

Lovro Mandac, Chairman and CEO of Galeria Holding, said: “GALERIA Kaufhof has worked in the past years to achieve a good position in the German retailing market through a continual willingness to change and a high customer orientation. That is thanks to the performance of the Associates and the leadership team. As a result, our company is now well-armed for the future with Hudson’s Bay as our new owner. It is good and important for the company that there is now clarity about the ownership question. We thank METRO GROUP for their support in the past years and look forward to cooperating with Hudson’s Bay on the future positioning of the company.”

Building on GALERIA Kaufhof’s Leadership Position in the German Retail Marketplace

Don Watros, President of HBC International, commented, “With GALERIA Kaufhof, we gain a best-in-market, successful retailer with a network of very well-maintained stores, a beloved heritage and a brand that resonates strongly with German consumers. Based on our extensive experience in building outstanding department stores, we intend to leverage our expertise and proven strategies to further build GALERIA Kaufhof for a strong, all-channel future. We are looking forward to working with the 21,500 highly skilled and motivated employees and in close cooperation with GALERIA Kaufhof’s works councils and unions.”

HBC is structuring the transaction and financing similar to previous transactions in Canada and the United States. BofA Merrill Lynch is acting as exclusive financial advisor to HBC on the transaction. Willkie Farr & Gallagher LLP is acting as M&A legal counsel, and Stikeman Elliott LLP is acting as company legal counsel. METRO is being advised by JP Morgan and Deutsche Bank and Clifford Chance is serving as legal counsel.

METRO GROUP had decided to sell its department store subsidiary because the Düsseldorf-based group wishes to focus more strongly on its wholesale business METRO Cash & Carry, its consumer electronics division Media-Saturn and its hypermarket chain Real in the future. “Not only has HBC submitted the best offer in terms of a secure future for GALERIA Kaufhof, it has also made a valuable bid for our shareholders,” said Olaf Koch. “We will also use the proceeds from the sale of GALERIA Holding GmbH for greater investment in our other sales channels, thus ensuring the group’s future growth. In this way, we are strengthening METRO GROUP for our customers and in the interests of all our employees and shareholders.”

Both companies will hold a Press Conference this Monday at 11:15 h German time at the Cologne Marriott Hotel which will be broadcasted online. A dedicated invitation to the media will be sent out soon.

METRO GROUP will also invite to an analysts call, details will be sent out soon.

Prior to an HBC conference call for its investors and analysts later this morning, HBC intends to issue an additional press release providing further financial detail with respect to the transaction, structure and expected impact of the addition of GALERIA Kaufhof to HBC.

Note: Assumes € 1 = C$1.387
(1) 52 weeks ended May 2, 2015 for HBC and 12 months ended March 31, 2015 for Galeria.

About Galeria Kaufhof
GALERIA Holding GmbH is a group of companies with sales of EUR 3.1bn and 21,500 employees (2013/14 business year). It comprises the operating department store business of GALERIA Kaufhof GmbH in Germany (103 stores), Sportarena GmbH (16 stores) and GALERIA Inno in Belgium (16 stores). Galeria KAUFHOF and GALERIA Inno are market leaders in their respective countries and they interlink their online shops and their bricks-and-mortar business through a successful multi-channel strategy. GALERIA Real Estate Holding GmbH, as a subsidiary of GALERIA Holding GmbH, is responsible for the strategic development of the 59 inner-city retail properties under its management in Germany. GALERIA Real Estate Group contributes to maintaining and increasing the value of the real estate portfolio. GALERIA Immobilienservice GmbH is the subsidiary of GALERIA Holding GmbH that performs various services related to the department store properties.

About Hudson’s Bay Company
Hudson’s Bay Company, founded in 1670, is North America’s oldest company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH – offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson’s Bay is Canada’s most prominent department store with 90 full-line locations, two outlet stores and thebay.com. Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com. Saks Fifth Avenue, one of the world’s pre-eminent luxury specialty retailers, comprises 39 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-oriented merchandise through 83 U.S. stores and saksoff5th.com. The Company also operates Home Outfitters, Canada’s largest kitchen, bed and bath specialty superstore with 67 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol “HBC”.

About METRO GROUP
METRO GROUP is one of the most important international trading companies. In the financial year 2013/14, it generated sales of about €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale –, Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

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METRO Cash & Carry to grant its national subsidiaries more entrepreneurial freedom and will implement new organisational structure starting on 1 July 2015

  • New Operating Model strengthens the responsibility of national subsidiaries and replaces METRO Cash & Carry Board with team of Operating Partners
  • Decentralisation of operational functions
  • Olaf Koch: “Value is created with the customer, and the new model will make us quicker, more streamlined and more dynamic”

Düsseldorf, Germany, 2015-5-9 — /EPR Retail News/ — METRO Cash & Carry will grant its 26 national subsidiaries more entrepreneurial freedom in the future and has adapted its organisational structure for this purpose. While the national management will be given greater responsibility for operational functions, the headquarters is changing its management structure: in place of the currently nine-person METRO Cash & Carry Board – the so-called Extended Management Board, soon a team of ten Operating Partners will be overseeing two to three countries each, so their day-to-day activities will be focused much more sharply on the respective customers and the local demand. The new organisational structure will be gradually implemented starting on 1 July 2015.

“Value is created locally, in the markets and with the customers, which is why we are now giving a further boost to local responsibility and entrepreneurial freedom,” said Olaf Koch, CEO of METRO AG. “We have already decentralised decision-making in recent years, strengthening the role of the national managers. As a next step, we want to achieve an even more powerful structure, with faster decision-making channels and, above all, with national managers who think and act as entrepreneurs, and who will hold considerably more sway in running their business.”

An Operating Board will replace the current Extended Management Board of METRO Cash & Carry with the goal of supporting the development of the national markets with a much more operational focus. Heading up this management group as CEO from 1 October 2015 will be Pieter Boone, who has been managing one of the most successful national subsidiaries, METRO Cash & Carry Russia. As reported earlier this week, Olaf Koch, who has acted as CEO of METRO Cash & Carry as well as CEO of the METRO GROUP since 2013, will pass on the ad interim role of METRO Cash & Carry CEO to Pieter Boone in order to focus fully on managing the parent company as CEO of METRO AG.

Olaf Koch said: “We are on the right track. Thanks to the direction we have set and initiatives we have introduced over the last two years, we have now recorded like-for-like growth at METRO Cash & Carry for seven successive quarters. The new Operating Model should accelerate this positive trend. With the new Operating Model, we take a logical step in giving the national Managing Directors greater entrepreneurial freedom. While we still want support from the headquarters, ‘one-size-fits-all’ central directives are not effective in the local markets. In the future, we will be able to respond to local demand and special customer requirements much more quickly and therefore increase our growth potential.”

Essentially, the newly developed Operating Model, which will be implemented within the next 18 months, consists of the following elements:

  • The Managing Directors of the national subsidiaries will be granted considerably more entrepreneurial freedom, for example, in marketing or store operations and will work according to a Value Creation Plan. Their performance-related bonus payment will depend solely on the performance of their respective markets.
  • An Operating Partner with a small team of experts will support each national Managing Director and their top-level management in the operation and continued development of the local METRO Cash & Carry business.
  • Some country divisions will take over the responsibility for certain operational disciplines and will support all other countries in this function (“Federation Model”); for instance, the operational competency for the hotel, restaurant and catering business (“HoReCa”) will be given to France; the respective function will thus be moved from the Düsseldorf headquarters to Paris.
  • The functions HR, IT / IM and finance will be further managed in Düsseldorf; the responsible Officers are called “Functional Partners”; together with the Operational Partners and the CEO, they represent the highest leadership body of METRO Cash & Carry.
  • Strict METRO AG governance functions such as Accounting, Audit, Compliance, Controlling, Legal or Tax will also remain as they are.

Due to the new organisational model, there also will be a reduction in the headcount of the Düsseldorf headquarters as responsibilities will be moved to the countries. This process will be done in close collaboration with the Works Council. However, from an organisation-wide perspective, there will be no job losses.

The METRO GROUP is a leading international retail and wholesale company. In the 2013/14 business year it generated sales of around EUR 63bn. The company is active at roughly 2,200 locations in 30 countries and has around 250,000 employees. The performance of the METRO GROUP is based on the strength of its sales brands, which carry out their market activities independently: METRO/MAKRO Cash & Carry – international leaders in the cash & carry business; Media Markt and Saturn – European market leaders in electrical retail; Real hypermarkets and Galeria Kaufhof department stores.
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METRO Cash & Carry appoints Pieter Boone as its new CEO

Düsseldorf, Germany, 2015-5-6 — /EPR Retail News/ — Following the successful first phase of METRO Cash & Carry’s repositioning, the international wholesale group is now getting a new CEO: Olaf Koch, currently CEO of METRO Cash & Carry as well as Chairman of the Management Board ofMETRO AG, will focus solely on his role as head of the whole group in the future. Following Koch’s recommendation, the Supervisory Board of METRO AG has now appointed the current Managing Director of METRO Cash & Carry Russia,Pieter Boone, as his successor. Dutch-born Pieter Boone will also join the Management Board of METRO AG, becoming the fifth member alongside Olaf Koch (CEO), Mark Frese (CFO), Pieter Haas (Media-Saturn) and Heiko Hutmacher(Human Resources). Boone will start in his new position as Member of the Management Board of METRO AG on July 1st and will lead METRO Cash & Carry together with Olaf Koch as Co-CEO until the end of the business year. New Managing Director of METRO Cash & Carry Russia will be the current Offer Management Director, Boris Minialai.

“Over the last two years we have introduced numerous measures to get METRO Cash & Carry ready for future growth”, said Olaf Koch. “Now, after seven quarters of successive like-for-like growth, we are seeing the fruits of our labours. It is therefore the right moment to hand over responsibility for METRO Cash & Carry to someone who can dedicate themselves entirely to our crucial wholesale business, and who also brings valuable experience at the company.” Around two years ago Olaf Koch took on the position as CEO of the wholesale subsidiary METRO Cash & Carry on an interims base alongside his role as CEO of METRO AG. Since then, numerous strategic initiatives and structural changes have been introduced at the leading international wholesaler. For instance, the delivery business has undergone major expansion, the country portfolio has been streamlined by exiting unprofitable markets, and the brand profile has been sharpened.

“Pieter Boone has achieved great things at METRO in recent years, proving that he has a wealth of operating experience and strategic foresight. His work is highly focused on objectives and customers; he cultivates close relationships with both the market and his shareholders; and above all he is someone who lives our leadership principles”, Koch added. “I have taken a great deal of pleasure from my position at METRO Cash & Carry, but a double role can only be performed on an interim basis, and Pieter Boone will now be able to dedicate himself entirely to the task. I know that with him the job is in the best hands. The Management Board and Supervisory Board of METRO AG wish him all the best in his new role.”

Pieter Boone began his management career at SHV MAKRO Cash & Carry in 1992 and has since performed various roles in MAKRO’s Asian and South American business, including Managing Director of MAKRO in Peru, the Philippines and Malaysia or Operations Director in Indonesia and Thailand. In 2011, the Dutch-born manager joined METRO GROUP and was assigned as Operations Director at METRO Cash & Carry Russia, where he took over the role of Managing Director in March 2012.

“I am grateful for the trust and confidence shown in me and thankful for the opportunity given to work as CEO ofMETRO Cash & Carry and Member of the Board of METRO AG,” said Boone. “The position as CEO brings many challenges and a great deal of responsibility. I am looking forward to continue the journey started by Olaf Koch and the colleagues as well as to new challenges. I am excited to work with the excellent team of METRO Cash & Carry and the Operating Board – our business is people business.”

Pieter Boone’s successor as Managing Director of METRO Cash & Carry Russia will be Boris Minialai, currently Offer Management Director at the Russian subsidiary. French-born Boris Minialai has been a member of theMETRO Cash & Carry Management Board since December 2014 and was previously Operations Director for the wholesale business in Turkey and Morocco. Minialai came to METRO from the French retailer Carrefour in 2008. His successor as Offer Management Director at METRO Cash & Carry Russia will be Ewa Jankowiak, who currently is in the position of the Deputy Offer Management Director Food.

The METRO GROUP is a leading international retail and wholesale company. In the 2013/14 business year it generated sales of around EUR 63bn. The company is active at roughly 2,200 locations in 30 countries and has around 250,000 employees. The performance of the METRO GROUP is based on the strength of its sales brands, which carry out their market activities independently: METRO/MAKRO Cash & Carry – international leaders in the cash & carry business; Media Markt and Saturn – European market leaders in electrical retail; Real hypermarkets and Galeria Kaufhof department stores.

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METRO GROUP continues positive trend in its operating business during the second quarter of the financial year 2014/15

  • Like-for-like sales of METRO GROUP again with substantial increase: + 2.5% in Q2 2014/15 and +2.2% in H1 2014/15
  • Online and delivery sales continue to show strong momentum
  • EBIT before special items on previous year’s level in Q2 at €-40 million, reaches €984 million in H1 2014/15 (H1 2013/14: €1,033 million)
  •  Negative impact on EBIT in Q2 2014/15 particularly from goodwill impairment (about €450 million) at Real
  • Net debt reduced by around €800 million as of 31 March 2015 compared with the previous year
  • Sales and earnings guidance confirmed for the financial year 2014/15

Düsseldorf, Germany, 2015-5-6 — /EPR Retail News/ — With like-for-like sales growth of 2.5%, METRO GROUP continued the positive trend in its operating business during the second quarter of the financial year 2014/15. In spite of very negative currency effects, reported group sales also increased by 0.3%. At €-40 million, EBIT before special items was unchanged from previous years’s. Adjusted for currency effects, EBIT before special items rose significantly compared with the previous year. With like-for-like sales growth of 2.2%, the group’s business also developed favourably during the first half of 2014/15, supported by the earlier Easter business compared with the previous year. “The rigorous realignment of our sales lines and our successful efforts to tap new retail channels and formats are increasingly paying off, particularly at METRO Cash & Carry and Media-Saturn. Both sales divisions are now experiencing sustained positive like-for-like sales growth,” said Olaf Koch, Chairman of the Management Board of METRO AG. “Real Germany also enjoyed a positive like-for-like sales trend. This shows that we are on the right track with our investments in the modernisation of the company and new concepts”.

METRO GROUP’s online retail and delivery businesses continued to gain momentum during the first half of 2014/15: Delivery sales grew by 10.5% to €1.4 billion (H1 2013/14: €1.3 billion). In Q2 2014/15, delivery sales also rose sharply by 10.2% to €0.7 billion. During the first half of 2014/15, METRO GROUP’s online sales totalled €1.0 billion, an increase of about 27% compared with the previous year’s period. Online sales also grew substantially during the second quarter of 2014/15, rising by 23% to €0.5 billion.

Adjusted for currency effects and portfolio changes, METRO GROUP posted sales growth of 2.8% during the first half of 2014/15 (1 October 2014 to 31 March 2015) compared with the previous year’s period. With €32,7 billion reported sales came in slightly below previous year’s level. This is due mostly to the disposal of Real in Eastern Europe as well as to significant negative currency effects in large parts of Eastern Europe, particularly Russia and Ukraine. On a like-for-like basis, sales increased markedly by 2.2%. In the second quarter (1 January to 31 March 2015), sales adjusted for currency effects and portfolio changes grew by 3.2%. Despite high negative currency effects, reported sales increased by 0.3% to €14.4 billion. Like-for-like sales in-creased by 2.5%, the strongest gain in 7 years. This positive development was supported by the earlier Easter business compared with the previous year.

In Germany, sales increased by 0.9% to €13.6 billion during the first half of 2014/15. During the second quarter, the strong development at Media-Saturn had a particularly positive effect on sales, which increased by 1.8%. The earlier Easter business also contributed to this development. International sales fell by 2.5% to €19.1 billion in H1 2014/15, due mostly to exchange rate developments. In spite of negative portfolio effects, currency-adjusted sales increased by 1.2%. Sales declined slightly by 0.8% in the second quarter, but increased by 2.0% in local currency.

In Western Europe (excluding Germany), sales rose by 1.0% to €10.0 billion in H1 2014/15. This is due to positive developments at Media-Saturn. In Q2 2014/15, sales climbed by 0.9%. In Eastern Europe, sales declined by 11.9% to €6.9 billion in H1 2014/15. The decrease primarily resulted from distinctly negative currency effects and the disposal of Real in Eastern Europe. Currency-adjusted sales increased by 0.6%. Sales fell by 11.3% in the second quarter of 2014/15, while sales in local currency increased by 2.7%. Sales in Asia/Africa grew markedly by 18.0% to €2.2 billion, supported by positive currency effects besides favourable operational developments. Measured in local currency, sales rose by 4.6%. On the back of stronger momentum, sales rose by 24.2% in Q2 2014/15 (in local currency: +6.0%).

 

METRO GROUP H1 2013/14
(€ M)		 H1 2014/15
(€ M)		  Change
(in €)		 Change
(in local currency)
Sales 33,047 32,677
 -1.1% 1.1%
Germany 13,508 13,623
 0.9% 0.9%
Western Europe
(Excl. Germany)		 9,853 9,953
 1.0% 0.9%
Eastern Europe 7,780 6,852
 -11.9% 0.6%
Asia/Africa 1,906 2,248
 18.0% 4.6%
METRO GROUP Q2 2013/14
(€ M)		 Q2 2014/15
(€ M)		  Change
(in €)		 Change
(in local currency)
Sales 14,326 14,366 0.3% 2.0%
Germany 5,799 5,905 1.8% 1.8%
Western Europe
(Excl. Germany)		 4,322 4,361 0.9% 0.5%
Eastern Europe 3,170 2,813 -11.3% 2.7%
Asia/Africa 1,036 1,287 24.2% 6.0%

During the first half of 2014/15, EBIT at METRO GROUP stood at €418 million (H1 2013/14: €861 million). This figure includes positive special items totalling €566 million (H1 2013/14: €172 million). EBIT before special items amounted to €984 million (H1 2013/14: €1,033 million). This decline is due, in particular, to foreign exchange losses of €90 million, primarily in relation to Russian rouble. As a result, EBIT before special items adjusted for currency effects increased in the reporting quarter. In Q2 2014/15, EBIT totalled €-590 million (Q2 2013/14: €-233 million). Special items totalling €550 million (Q2 2013/14: €193 million) primarily relate to a goodwill impairment at Real. EBIT before special items came in at €-40 million (Q2 2013/14: €-40 million). Adjusted for negative currency effects of about €30 million, EBIT before special items thus improved significantly.

In the first half of 2014/15, Earnings before tax amounted to €243 million (H1 2013/14: €541 million). Before special items, earnings before taxes totalled €799 million (H1 2013/14: €749 million). Reported tax expenses of €181 million (H1 2013/14: €299 million) correspond to a group tax rate of 74.6% (H1 2013/14: 55.2%). The tax rate before special items stands at 45.2% (H1 2013/14: 45.2%). In the first half of 2014/15, net profit for the period amounted to €62 million (H1 2013/14: €242 million). Net profit for the period before special items improved to €438 million from €411 million. In the first half of 2014/15, earnings per share amounted to €0.03 (H1 2013/14: €0.56). Adjusted for special items, earnings per share amounted to €1.16, after €1.07 in the previous year’s period. In Q2 2014/15, earnings per share came to €-1.21 (Q2 2013/14: €0.82). Adjusted for special items, earnings per share in Q2 2014/15 stood at €-0.21 (Q2 2013/14: €-0.28).

Net debt of METRO GROUP amounted to €5.6 billion on 31 March 2015, a drop of around €800 million compared with the total on 31 March 2014.

 

Earnings of METRO GROUP
(€ million)		 H1 2013/14 H1 2014/15
EBIT before special items 1,033 984
Earnings before tax (EBT) and special items 749 799
Net profit for the period before special items 411 438
Net profit for the period attributable to shareholders of METRO AG before special items 348 378
Earnings per share before special items in € 1.07 1.16
EBIT 861 418
EBT (earnings before taxes) 541 243
Net profit for the period 242 62
Net profit for the period attributable to shareholders of METRO AG 182 10
Earnings per share in € 0.56 0.03
Earnings of METRO GROUP
(€ million)		 Q2 2013/14 Q2 2014/15
EBIT before special items -40 -40
Earnings before taxes (EBT) and special items -184 -110
Net profit for the period before special items -92 -63
Net profit for the period attributable to shareholders of METRO AG before special items -92 -67
Earnings per share before special items in € -0.28 -0.21
EBIT -233 -590
EBT (earnings before taxes) -403 -658
Net profit for the period -271 –397
Net profit for the period attributable to shareholders of METRO AG -269 –394
Earnings per share in € -0.82 –1.21

Outlook

The forecast is based on the current group structure and refers to currency-adjusted figures. In addition, it is based on the assumption of an unchanged geopolitical situation from the quarterly report for Q1 2014/15.

For the financial year 2014/15, METRO GROUP expects to see a slight rise in overall sales, despite the persistently chal-lenging economic environment. In like-for-like sales, METRO GROUP foresees a slight in-crease that will follow the 0.1% gain in the previous year. In the financial year 2014/15, earnings development will also be shaped by the persistently challenging economic environment. Given the progress made so far, METRO GROUP will continue to realign its business models with a focus on efficient structures and strict cost control. For these reasons, METRO GROUP expects EBIT before special items adjusted for currency effects with a difference development in the individual sales lines to rise slightly above the €1,727 million produced in the financial year 2013/14, including typical levels of income from real estate sales.

METRO Cash & Carry

Overall, METRO Cash & Carry continued its very positive development, recording the seventh consecutive quarter of like-for-like sales growth at 1.1%. Due to exchange rate factors (primarily Russian rouble), however, sales in euro decreased by 3.1% to €14.9 billion in the first half of 2014/15. By contrast, sales in local currency declined by 0.6%. In Russia the sales line recorded double-digit like-for-like growth. Sales fell by 2.5% in the second quarter of 2014/15, while sales in local currency increased by 0.3%. Delivery sales continued their positive trend, rising by 10.5% to €1.4 billion in the first half of 2014/15. Delivery sales now account for 9.3% of METRO Cash & Carry sales. Sales from the delivery business continued their upward trend in Q2 2014/15, rising by 10.2% to €0.7 billion.

During the first half of 2014/15, EBIT amounted to €504 million (H1 2013/14: €451 million) and included special items of €15 million. These concern, in particular, a goodwill impairment at METRO Cash & Carry in Pakistan. EBIT before special items amounted to €519 million (H1 2013/14: €583 million). This decline is due mostly to very negative year-over-year currency effects of about €90 million in Russia. As a result, METRO Cash & Carry’s EBIT improved in local currency terms. In Q2 2014/15, EBIT before special items came to €37 million (Q2 2013/14: €43 million). This figure includes negative currency effects of about €30 million. As such, EBIT actually improved significantly in currency-adjusted terms.

METRO Cash & Carry H1 2013/14
(€ M)		 H1 2014/15
(€ M)		 Change
(in €)		 Change
(in local currency)		 Like-for-like
(in local currency)
Sales 15,369 14,889 -3.1% 0.6% 1.2%
Germany 2,441 2,402 -1.6% -1.6% -1.6%
Western Europe
(Excl. Germany)		 5,192 5,045 -2.8% -2.8% -1.4%
Eastern Europe 5,833 5,198 -10.9% 3.7% 4.4%
Asia/Africa 1,903 2,244 17.9% 4.5% 3.9%
EBIT before special items
 583 519 € -64 million
METRO Cash & Carry Q2 2013/14
(€ M)		 Q2 2014/15
(€ M)		  Change
(in €)		 Change
(in local curreny)		 Like-for-like
(local currency)
Sales 6,861 6,691 -2.5% 0.3% 1.1%
Germany 1,078 1,048 -2.8% -2.8% -2.9%
Western Europe
(Excl. Germany)		 2,276 2,190 -3.8% -3.8% -1.6%
Eastern Europe 2,472 2,169 -12.3% 2.8% 4.7%
Asia/Africa 1,035 1,285 24.2% 6.0% 4.0%
EBIT before special items
 43 37 € -6 million

Media-Saturn

Media-Saturn continued and accelerated its positive sales trend during the past quarter. In Q2 2014/15, like-for-like sales jumped by 5.2%. Overall, sales increased by 4.8% to €12.0 billion during the first half of 2014/15. Partly as a result of the expansion, sales in local currency even grew by 6.1%. Like-for-like sales in-creased by 4.4%. All regions contributed to the positive sales development. Sales grew by 5.7% in the second quarter and by as much as 6.9% in local currency. Like-for-like sales increased by 5.2%. In tandem with the positive sales development, Media-Saturn managed to expand its market share in several countries. In Germany, sales increased by 7.0% to €2.4 billion. Like-for-like sales increased by 5.9%. Several successful marketing activities contributed to this positive development. In addition, as market leader, Media-Saturn benefited from positive broad market developments. Following exceptionally strong growth in Russia resulting from strong pull-forward effects during the first quarter, business slowed somewhat during the second quarter. Business developments were particularly favourable in Hungary and Poland.

Media-Saturn continued to forge ahead with the rigorous expansion of its online business and the dovetailing of its sales channels during the first half of 2014/15. As a result, online sales rose markedly by about 25% to €0.9 billion, accounting for nearly 8% of Media-Saturn’s total sales. Online sales also grew during the second quarter, rising by more than 20% to €0.4 billion. In the meantime, the multi-channel offering established as an integral part of Media-Saturn’s business. The online product range was expanded once again. At the end of March 2015, it comprised more than 110,000 products at Mediamarkt.de and more than 100,000 at Saturn.de.

EBIT of Media-Saturn jumped sharply in the first half of 2014/15, rising to €332 million (H1 2013/14: €266 million). This figure includes positive special items totalling €38 million (H1 2013/14: €9 million), which mostly relate to store-related restructuring measures. EBIT before special items amounted to €369 million (H1 2013/14: €275 million), a significant improvement of 34.5%. The strong increase was largely due to good like-for-like sales growth. In Q2 2014/15, EBIT before special items improved markedly to €20 million from a negative result of €-14 million in the previous year’s quarter.

Media-Saturn H1 2013/14
(€ M)		 H1 2014/15
(€ M)		  Change
(in €)		 Change
(in local currency)		 Like-for-like
(in local currency)
Sales 11,482 12,035 4.8% 6.1% 4.4%
Germany 5,388 5,588 3.7% 3.7% 2.7%
Western Europe
(Excl. Germany)		 4,565 4,815 5.5% 5.1% 3.7%
Eastern Europe 1,529 1,632 6.7% 18.5% 13.2%
EBIT before special items 275 369 € +94 million
Media-Saturn Q2 2013/14
(€ M)		 Q2 2014/15
(€ M)		  Change
(in €)		 Change
(in local currency)		 Like-for-like
(in local currency)
Sales 4,881 5,161 5.7% 6.9% 5.2%
Germany 2,242 2,399 7.0% 7.0% 5.9%
Western Europe
(Excl. Germany)		 2,001 2,127 6.3% 5.4% 3.7%
Eastern Europe 638 634 -0.6% 11.7% 8.0%
EBIT before special items -14 20 €+34 million

Real

As a result of the disposal of Real Eastern Europe, sales at Real declined from €4.5 billion to €4.1 billion in the first half of 2014/15. The figure for the previous year’s period still included sales of Real in Poland and Turkey. Due to store closures, sales of Real Germany declined by 0.7% to €4.1 billion in the first half of 2014/15. In turn, like-for-like sales increased by 1.0%. In Q2 2014/15, sales decreased by 0.7%. Like-for-like sales increased by 1.1%, helped by the earlier Easter business. Deflationary developments, particularly in the ultra-fresh produce area, as well as a late start to the gardening season prevented an even better development. Sales of Real Online developed favourably. Online sales doubled to €10 million during the second quarter of 2014/15.

In H1 2014/15, EBIT of Real stood at €-432 million (H1 2013/14: €34 million). This figure includes special items totalling €480 million (H1 2013/14: €23 million). Against the backdrop of earnings developments, this relates to goodwill impairments, in particular. Following a sustainable repositioning, Real has carried out impairments for goodwill resulting from company acquisitions that were completed 17 years ago. EBIT before special items amounted to €48 million, compared with €56 million in the previous year’s period. The decline was driven by increased general cost, but also especially caused by activities for a sustainable improvement of customer perception and competitiveness. Thus, the marketing activities were intensified in H1 2014/15 and expenditures for store remodelling were increased in order to align more stores with the new concept. In Q2 2014/15, EBIT before special items came to €-36 million (Q2 2013/14: €-41 million). This result also includes the earlier Easter business.

Real H1 2013/14
(€ M)		 H1 2014/15
(€ M)		  Change
(in €)		 Change
(in local currency)		 Like-for-like
(in local currency)
Total sales
 4,507 4,059 -9.9% -9.9% 1.0%
Germany 4,089 4,059 -0.7% -0.7% 1.0%
EBIT before special items
 56 48 € -8 million
Real Q2 2013/14
(€ M)		 Q2 2014/15
(€ M)		 Change
(in €)		 Change
(in local currency)		 Like-for-like
(in local currency)
Total sales
 1,900 1,829 -3.8% -4.0% 1.1%
Germany 1,841 1,829 -0.7% -0.7% 1.1%
EBIT before special items
 -41 –36 € +5 million

Galeria Kaufhof

During the first half of 2014/15, sales at Galeria Kaufhof fell by 1.0% to €1.7 billion. Like-for-like sales decreased by 1.1%. This trend improved slightly during the second quarter of 2014/15, with like-for-like sales declining by 0.6%. As a result, Galeria Kaufhof outperformed the textile market in several segments, thereby expanding its market share.

In H1 2014/15, EBIT stood at €115 million (H1 2013/14: €157 million). Special items amounted to €11 million. This concerns primarily store-related restructuring expenses. EBIT before special items dropped to €126 million (H1 2013/14: €157 million). The decline is due mostly to the fact that winter items had to be sold at a discount as the seasonal business progressed. In Q2 2014/15, EBIT before special items came to €-13 million (Q2 2013/14: €-2 million). Discounts and diminishing like-for-like sales resulted in this decrease.

Galeria Kaufhof H1 2013/14
(€ M)		 H1 2014/15
(€ M)		 Change
(in €)		 Like-for-like
Sales 1,684 1,667 -1.0% -1.1%
Germany 1,588 1,574 -0.9% -0.8%
Western Europe 96 93 -3.2% -5.9%
EBIT before special items 157 126 € -31 million
Galeria Kaufhof Q2 2013/14
(€ M)		 Q2 2014/15
(€ M)		  Change
(in €)		 Like-for-like
Sales 682 674 -1.1% -0.6%
Germany 637 630 -1.0% -0.3%
Western Europe 45 43 -2.9% -5.8%
EBIT before special items
 -2 -13 €-11 million
METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.
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METRO GROUP expands commitment to the start-up sector; takes a share in the American online professional networking site Culinary Agents

  • A strategic partnership with the start-up Culinary Agents
  • Market niche for the recruitment of qualified personnel to restaurants, hotels and caterers
  • Online job network expanding into France and Italy

Düsseldorf, Germany, 2015-4-28 — /EPR Retail News/ — METRO GROUP is expanding its commitment to the start-up sector, taking a share in the American online professional networking site Culinary Agents. The young company has specialised itself in job matching, networking, and mentoring for food service and hotel professionals and, in cooperation with METRO Cash & Carry, will offer its services for the first time this year in France and Italy. As a shareholder in the start-up, METRO GROUP will support its continuing expansion in the US, as well as growth into Europe and Asia.

With its stake in the online job network Culinary Agents, METRO Cash & Carry will offer its most important customer group of hotel, restaurant and catering professionals (HoReCa) an additional service for their everyday success in business. With more than 40,000 registered users in the United States, Culinary Agents has already shown that it occupies a market niche in the food, beverage and hospitality industry. Together with METRO Cash & Carry, the global leader in self-service wholesale, Culinary Agents will kick off its own job networks in Italy and France this year. “The services offered by Culinary Agents greatly enrich our professional customers’ business. With Culinary Agents, we can facilitate their search for qualified personnel, which presents a serious problem for many entrepreneurs – especially in the hospitality industry,” said Olaf Koch, Chairman of the Management Board of METRO AG and CEO of METRO Cash & Carry. “We are happy to have found an especially promising partner in Culinary Agents and will closely accompany the start-up in its growth. Our commitment once again shows that we understand and support our customers as independent businesses.”

“METRO is showing itself to be a true thought leader by working with Culinary Agents to expand our reach to its customers, employees, and overall HoReCa community,” said Alice Cheng, founder of Culinary Agents. “Our mission is to help people across the restaurant, hotel, catering and overall hospitality sectors with talent sourcing, job matching, and professional networking. METRO sees the value of providing the much needed assistance in these areas, which have historically been major pain points for the industries we serve. This partnership will enable us to build a global network to help talent and businesses across the HoReCa space.”

The continual search for qualified and reliable employees is a significant issue for many food service and hotel professionals worldwide. Around 80 per cent of self-employed German food service and hotel managers find it increasingly difficult to find good staff – a serious hurdle for their independence, as the METRO Start-Up Study 2014 showed. The European market presents a similar picture. Culinary Agents, which Cheng founded in 2012, offers technology based solutions focused on job matching, career development and mentorship in the HoReCa industry.

Culinary Agents’ technology and services are a cost-effective way to source all levels of positions for various types of hospitality businesses. Unlike other job sites, which are often static, Culinary Agents has an automatic matching process, which tees up opportunities to talent and talent to businesses, along with tools to support applicant matching, messaging, and management.

The partnership with METRO Cash & Carry will also enable Culinary Agents to grow in Europe and Asia. This year, new Culinary Agents networks in France and Italy will create a starting point for this growth. METRO Cash & Carry is intensively supporting market entry in both countries. In order to foster growth over the long term, METRO GROUP, together with the two investors RRE Ventures and Female Founders Fund, will be partners in the start-up.

 

METRO GROUP is one of the most important international trading companies. In the financial year 2013/14, it generated sales of about €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale -, Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

Culinary Agents is changing the hotel, restaurant and catering industry (HoReCa), through its development of a professional networking and job matching website for current and aspiring HoReCa professionals. With more than 40,000 users in 30+ cities across the U.S., Culinary Agents supports all types of food service establishments, catering businesses, specialty retail stores, and hotels, as well as schools and non-profit organizations in the HoReCa industry. The strength of Culinary Agents’ platform is in its technology and reach. Through its website, Culinary Agents provides businesses with an efficient, cost effective way to source HoReCa talent for jobs of all levels, while enabling job seekers to represent themselves professionally, pinpoint appropriate job opportunities, and find resources to help fuel their careers. For more information, please visit www.culinaryagents.com.

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METRO and Techstars officially launched the new Techstars METRO Accelerator; applications until 3 August 2015

Düsseldorf, Germany, 2015-4-28 — /EPR Retail News/ — METRO and Techstars have officially launched the new Techstars METRO Accelerator: Starting immediately, the two partners are seeking start-up teams who support the digitisation of the gastronomy, hotel, catering and food industries with their technological applications. From now until 3 August 2015, interested teams of founders from around the world can apply online at www.techstarsmetro.com. Starting in October, experienced mentors will support 10 selected start-ups over a period of three months to develop their innovative ideas further.

“Start-ups worldwide are developing digital and technological innovations that could be ground-breaking for our customers in the gastronomy sector,” said Olaf Koch, Chairman of the Management Board of METRO AG and CEO of METRO Cash & Carry. “At METRO, we would like to find and support the most creative and innovative among them. By helping founders to develop their ideas, we help our customers to become even more successful using these new services and technologies.” From now until 3 August 2015, interested start-ups from around the world can therefore submit their application for the start-up program on the English-language website www.techstarsmetro.com. The teams have to complete an extensive questionnaire and have the option to upload a video. The entire application process will take place in English. The program will be officially kicked off on 12 October 2015. The teams will present their ideas to international investors, leading sector representatives and the public on a designated Demo Day in January.

“Techstars is so excited to partner with METRO on this accelerator,” said David Cohen, Founder and Managing Partner, Techstars. “The hospitality and food tech space has been under-represented and given METRO’s significant resources, combined with Techstars’ proven methodology, we’re confident that we can bring a new standard of innovation to this vertical.”

Over a period of three months from October, the Techstars METRO Accelerator will foster 10 selected start-ups in Berlin. In order to provide them with optimum support, METRO will make available to the founders the combined specialist knowledge of its experts from procurement, distribution, marketing, strategy, finance, legal and communication. As one of the most renowned start-up networks worldwide, Techstars will contribute its internationally proven development program and a network comprising more than 3,000 mentors, investors and experienced members of the start-up community. Digital agency R/GA, another partner supporting the program, will offer the teams exclusive multi-channel access to brand strategy and creative services as well as access to its global client and partner networks. In addition, the founders will be supported financially for the duration of the program.

The program organisers are looking for international technology start-ups in all phases of their growth. There is no age limit for applicants. Ultimately, the innovative business ideas should aim to provide added value for the gastronomy, hotel and catering sectors. These could be solutions for all business areas – multichannel, food delivery and new applications to promote customer loyalty are just as conceivable as entirely new digital products or special services.

Participation in the Techstars METRO Accelerator offers start-ups a host of new opportunities: METRO / MAKRO Cash & Carry is a leading international cash & carry wholesale company which operates in 26 countries. The access to METRO’s customers and the retail and wholesale company’s 5,500 sales representatives offers the start-ups enormous potential. METRO’s customers will profit in their turn from the technological innovations from the Techstars METRO Accelerator and use the potential for their own business.

Further information is available at www.techstarsmetro.com and on Twitter at @MG_innovate.

 

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to build their business. With 18 mentorship-driven accelerator programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey. Techstars provides access to over 5,000 founders, mentors investors, and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and do more faster. Techstars makes entrepreneurship more accessible by providing access to capital, guidance, marketing, business development, customer acquisition, and recruitment.

R/GA, the company for the Connected Age, develops products, services and communications to grow our clients’ brands and businesses. Founded in 1977, the agency has been a pioneer at the intersection of technology, design and marketing with work spanning web, mobile, and social communications, retail and e-commerce, product innovation, brand development and business consulting. R/GA has more than 1,400 employees globally with offices across the United States, Europe, South America, and Asia-Pacific and is part of The Interpublic Group of Companies (NYSE:IPG), one of the world’s largest advertising and marketing services organizations. R/GA is a member of the GAN (gan.co), a network of the world’s most respected accelerators and organizations in support of the startup ecosystem. For more information on R/GA, please visit www.rga.com, www.rgaaccelerator.com, @rgaventures, and @rgaaccelerator.

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METRO GROUP to adjust the goodwill resulting from companies acquired 17 years ago as part of sustainable repositioning of the hypermarket chain Real

  • Around €450 million impairment of goodwill from the takeover of Allkauf and Kriegbaum stores in 1998
  • No effect on Group guidance before special items
  • Major investments into stores and services intended

Düsseldorf, Germany, 2015-4-24 — /EPR Retail News/ — As part of a sustainable repositioning of the hypermarket chain Real, METRO GROUP will adjust the goodwill resulting from companies acquired 17 years ago. With this move, METRO GROUP creates a solid balance sheet foundation and more room to manoeuvre for the already successfully initiated repositioning of Real. Building on the success of the repositioning to date, METRO GROUP intends to invest extensively into the modernisation of Real’s stores and customer services in the next few years.

“During the past three years we have already significantly invested into the modernisation and realignment of Real and observe very positive developments at those hypermarkets that have already been converted to the new concept, especially in terms of sales”, said Olaf Koch, Chairman of the Management Board of METRO AG and also Chairman of the Supervisory Board of Real SB-Warenhaus GmbH. “Based on the positive insights that we have gained from the modernisation process so far, we will continue investing into the concept conversion of our stores. However, our earnings are already strongly affected by distortions in the German pay scale structure and increased investments into competitiveness. Against this backdrop and to maintain the leeway required to this effect, we have now impaired this goodwill and thereby taken out the pressure from the balance sheet. As we are targeting a sustainable repositioning of Real, we intend to continue investing into the Real business model also in the coming years.”

“Specifically, METRO AG is recognizing goodwill adjustments in the amount of some €450 million in its consolidated balance sheet”, explains Mark Frese, Chief Financial Officer of METRO AG. This book value resulted mostly from METRO GROUP’s takeover of the Allkauf hypermarket chain as well as of the stores from the retail group Kriegbaum and their merger with Real in 1998. “This impairment of goodwill represents a non-cash special item”, said Frese. METRO GROUP therefore continues to expect EBIT before special items adjusted for currency effects to rise slightly above the €1,727 million achieved in financial year 2013/14.

Real has invested heavily into various measures for more customer centricity, including in particular, into the store infrastructure, merchandise presentation and freshness assortments, own brands as well as into the multi-channel appearance during the past 18 months. As many as 82 of the total of more than 300 Real hypermarkets have already been modernised and report gratifying growth in sales and customer frequency.

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.
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METRO GROUP achieved its sales and profit targets for the financial year 2013/14

  • Sales and EBIT guidance achieved in the financial year 2013/2014
  • Proposed dividend of €0.90 per ordinary share
  • Q1 2014/15: sales adjusted for portfolio changes and currency effects rose by 2.6%; EBIT before special items exceeds exchange-rate adjusted EBIT for previous year
  • Forecast 2014/15: exchange-rate adjusted sales and profits expected to continue increasing
  • New target: by 2017, METRO GROUP aims to fill 25% of management positions, including at Management Board level, with women
  • Supervisory Board: retail expert Gwyn Burr proposed for election

Düsseldorf, Germany, 2015-2-20 — /EPR Retail News/ — At today’s Annual General Meeting of METRO AG, the Chairman of the Management Board Olaf Koch gave investors a positive account of the Düsseldorf-based retail company for financial year 2013/14. “We constantly work to improve the range of products and services offered by each sales line and to make them more attractive – with increasing success. Thus we create unique value added for our customers”, Koch said. “The dynamic growth of our online and delivery business has contributed to this positive business development, as have the many creative campaigns to mark the 50th anniversary of METRO Cash & Carry. Furthermore, we have made clear progress in reducing our debt and optimising our portfolio. To continue this positive development, we will intensify METRO GROUP’s transformation process even further in 2014/15.”

METRO GROUP had achieved its sales and profit targets for the financial year 2013/14: EBIT before special items reached €1,727 million and sales adjusted for portfolio changes and currency effects rose by 1.3%. By reducing net debt by €736 million, METRO GROUP materially strengthened its economic substance. To allow its shareholders to benefit from the positive business development too, a dividend of €0.90 per ordinary share will be proposed to today’s Annual General Meeting.

Good start to the financial year 2014/15

In the first quarter of the current financial year, METRO GROUP saw growth in operating business: adjusted for currency and portfolio effects, group sales rose by 2.6%. Reported sales declined by 2.2% to €18.3 billion. This decline is due mostly to the sale of Real in Eastern Europe as well as to significant negative currency effects in large parts of Eastern Europe, particularly Russia and Ukraine. On a like-for-like basis, sales increased markedly by 2.1%. At €1,024 million, EBIT before special items was only down on the previous year (Q1 2013/14: €1,073 million) as a result of negative currency effects amounting to €60 million. METRO GROUP also continued to markedly strengthen its balance sheet: year-to-year, net debt declined by around €900 million to just €1.5 billion, the lowest level in more than 10 years.

For the financial year 2014/15, METRO GROUP expects to see a slight rise in overall sales, despite the persistently challenging economic environment. In like-for-like sales, METRO GROUP foresees a slight increase that will follow the 0.1% gain in the previous year. METRO GROUP expects EBIT before special items adjusted for currency effects to rise slightly above the €1,727 million produced in the financial year 2013/14, including typical levels of income from real estate sales. The METRO GROUP forecast is based on the current group structure and refers to currency-adjusted figures. In addition, it is based on the assumption of an unchanged geopolitical situation compared to the last reporting (Annual Report 2013/14).

New target to encourage women into management positions

In order to further increase the share of women in management positions, METRO GROUP has updated its self-imposed commitment in this regard and adjusted the existing target: By 2017, 25% of management executives on levels 1 to 3 should be women. For the Management Board of METRO AG, the Supervisory Board passed a resolution for a target of the same level at the instigation of the Management Board. Currently the quota of women who are working at METRO GROUP’s management levels 1 to 3 is at 18.5%. “A diverse composition of personnel is decisive for the success of our company. We are focusing on long-term, trusting relationships with our customers, who are just as diverse as our employees,” emphasised Heiko Hutmacher, Chief Human Resources Officer and a Member of the Management Board of METRO AG. “Diversity and thus also an adequate women quota must therefore be reflected in all areas of our company – and especially in the top positions.” The Supervisory Board of METRO AG also increased its own targets: Following the Annual General Meeting in 2016, women and men should each make up at least 30% of representatives on the Supervisory Board. The minimum requirement should be fulfilled by representatives of both shareholders and employees.

Supervisory Board elections

The agenda for today’s Annual General Meeting includes an election for an additional member to the Supervisory Board. Gwyn Burr, former executive manager at British retail chain Sainsbury’s, is set to be elected to the Supervisory Board of METRO AG for the first time. Burr joined the Board by court appointment at the end of December 2014. Her appointment expires at the end of the Annual General Meeting. She will thus complement the shareholder representatives as successor to Baroness Lucy Neville-Rolfe. The Annual General Meeting will now take a decision on Burr’s continued service on the Supervisory Board.

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

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METRO partners with US company Techstars to support innovative hospitality start-ups

  • Techstars METRO Accelerator: METRO collaborates with US partner Techstars to promote digital innovations for customers in the hospitality sector
  • Innovation to be an integral part of METRO GROUP’s corporate strategy: customer and market trends to be incorporated faster into business operations
  • Focus on new channels, logistics and marketing solutions as well as innovative services
  • New “Innovation in Retail Meetup” network promotes communication between start-ups and METRO GROUP

Düsseldorf, Germany, 2015-2-10 — /EPR Retail News/ — METRO GROUP is actively shaping the future of the trade industry and is increasingly opening up its sales lines both inwardly and outwardly to innovative ideas. With this objective, METRO is joining up with US company Techstars, one of the most highly recognised international mentorship programmes, to support innovative hospitality start-ups. The newly launched Techstars METRO Accelerator targets companies offering innovative technology applications for the restaurant, hotel and catering industries. In the context of this programme, experienced mentors and experts spend three months helping start-ups to advance their business. Techstars METRO Accelerator is the first global programme focused on technology applications for the hospitality sector. International digital agency R/GA will supplement both partners’ knowhow at the Techstars METRO Accelerator in Berlin.

Teams of founders are being sought with technology-based services and products that simplify, accelerate and digitise operational processes and customer relationships of restaurants, cafés, snack bars and catering businesses or hotels. The aim is to make this important METRO customer group even more successful in future thanks to technological innovations. The programme will kick off at the end of April in Berlin. “With programmes like the Accelerator, we are searching specifically for innovations that tie in with our strengths and which we can thus develop better than others,” says Olaf Koch, Chairman of the Management Board of METRO AG and CEO of METRO Cash & Carry. “With 1.6 billion customers per year in our stores, almost a billion visitors on our websites and around 75 million loyalty cards, METRO GROUP has a unique customer base in a broad portfolio of retail formats. Coupled with our marketing and sales power as well as our procurement competence, we have the ability to help new ideas and innovations, both stationary and digital, to succeed.”

In order to promote communication between innovative technology start-ups from the trade and hospitality sectors with METRO GROUP and its sales lines, the company has created a new platform. At the “Innovation in Retail Meetups” at the Metro Campus in Düsseldorf, business founders present their ideas and business models and discuss them with other entrepreneurs, start-up experts and Metro representatives. The bi-monthly Meetups were started only recently, but have already evolved into a popular networking platform for the sector.

Overall, the international retail and wholesale company is amalgamating the realignment of its sales lines according to relevant customer, market and technological trends. To this end, METRO GROUP is merging the areas of Strategy, Investment Management and Business Innovation into one powerful strategic unit. “Our strategy aims to achieve a balanced mixture of business models and countries in future,” Koch says. “This includes on the one hand the repositioning of our sales lines, but also developing new business segments. With our new innovation approach, we see ourselves well equipped to do this.”

Within this framework, METRO GROUP is aligning itself into five innovation areas that will serve as a basis for all innovation projects. The first innovation area, “Store”, will take into account the development that purely online traders are increasingly looking for a way into real selling spaces. One successful test project in this context was a pop-up store that the US online trader eBay carried out in cooperation with online payment service PayPal and METRO GROUP in Bremen up to the end of January 2015. All sales lines are set to profit from the new opportunities for customer retention, sales approach, and customer advice and incentivisation.

The second innovation area, “Channel”, focuses on the accelerated development of various distribution channels. Multi- and omni-channels are the relevant approaches that must be implemented here. The most recent example is the Media Markt and Saturn web shops on the eBay platform that have been opened as a new distribution channel.

The growth of food e-commerce has conferred even greater importance on logistics. The third innovation area, “Logistics, Supply Chain, Procurement and Warehousing”, will open up new opportunities in this segment for METRO GROUP. Finally, the aim of the fourth innovation area, “Marketing”, is to optimise the sales approach of all sales lines.

The fifth innovation area, “New Products & Services”, will develop customer-centred models for new products and services. For example, more than just the normal product range is to be offered to METRO Cash & Carry’s most important customer base: companies from the gastronomy, hotel and catering industry. Specially tailored services are set to support customers particularly in the sector’s ongoing digitisation.

METRO GROUP is one of the largest and most important international trading companies. During the financial year 2013/14, it generated sales of about €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.
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Preliminary METRO GROUP sales in Q1 2014/15 grew by 2.6% compared to the previous year quarter

  • Group sales up by 2.1% in like-for-like terms; 2.6% increase in sales adjusted for currency effects and portfolio changes
  • Christmas business overall positive
  • METRO Cash & Carry records like-for-like sales growth of 1.4%; noticeable growth in Eastern Europe and Asia
  • Media-Saturn grows like-for-like by 3.8%
  • Real with like-for-like sales growth of 0.9%

Düsseldorf, Germany, 2015-1-15 — /EPR Retail News/ — Preliminary METRO GROUP sales in Q1 2014/15, adjusted for currency effects and portfolio changes, grew by 2.6% compared to the previous year quarter. Reported sales declined by 2.2% to €18.3 billion mainly due to the disposal of Real Eastern Europe and the substantial negative currency effects in many parts of Eastern Europe, but particularly in Russia and Ukraine. However, like-for-like sales increased by 2.1%. “Despite the persistently challenging environment we were able to continue the positive like-for-like sales performance at the start of the new financial year,” said Olaf Koch, Chairman of the Management Board of METRO AG. “Christmas business was overall positive. In December, all sales divisions increased their like-for-like sales. This positive development means that we have created a solid basis for further success in our transformation and achieving our full-year sales outlook.”

METRO GROUP also successfully continued its transformation process at the start of financial year 2014/15 and expanded its share of sales in the multichannel and the delivery business, amongst others. In Q1 2014/15, METRO GROUP opened a total of 23 new stores across 7 countries, of which 9 were METRO Cash & Carry, 13 Media-Saturn and one Galeria Kaufhof department store. 14 new store openings took place in the important expansion countries Russia and China. The 5 METRO Cash & Carry stores in Denmark were closed at the end of 2014, as announced. In addition there was one METRO Cash & Carry store closure each in Rumania and Bulgaria. As announced, Real closed 5 stores and Galeria Kaufhof 2 department stores.

METRO GROUP Q1 2013/14 Q1 2014/15
Sales (€ billion) 18.7 18.3
Change (€) -3.3% -2.2%
Change (in local currency) -1.4% 0.4%
Like-for-like -0.2% 2.1%

 

Development of the sales divisions in Q1 2014/15

 

METRO Cash & Carry

All in all, METRO Cash & Carry enjoyed its sixth successive quarter of positive development, with like-for-like sales growth of 1.4%. In Eastern Europe and Asia in particular, there were distinct increases in like-for-like sales. Double-digit like-for-like sales growth was in particular achieved in Russia. Reported sales in Russia declined due to the extremely poor development of exchange rates. In Western Europe, like-for-like sales decreased slightly due to business development in Belgium and the Netherlands. In Germany, like-for-like sales also declined slightly.

The delivery sales growth at METRO Cash & Carry was once again gratifyingly above 10%.

METRO Cash & Carry Q1 2013/14 Q1 2014/15
Sales (€ billion) 8.5 8.2
Change (€) -1.1% -3.6%
Change (in local currency) 2.2% 1.1%
Like-for-like -0.9% 1.4%

 

Media-Saturn

Media-Saturn recorded extremely positive sales development, with the positive sales trend observed over previous quarters continuing with strong like-for-like sales growth of 3.8%. Due to the expansion, reported sales in local currency even rose by 5.6%. All regions contributed to the positive sales development, and like-for-like sales rose in almost all countries. In Western Europe, Spain experienced particularly positive development with double-digit like-for-like sales growth. Business in Eastern Europe grew significantly, with Hungary, Poland and, above all, Russia achieving double-digit like-for-like growth rates.

Media-Saturn continued the systematic expansion of online business, as well as the integration of all sales channels, in Q1 2014/15. As a result, online sales rose significantly by over 25%.

Media-Saturn Q1 2013/14 Q1 2014/15
Sales (€ billion) 6.6 6.9
Change (€) -0.7% 4.1%
Change (in local currency) 0.4% 5.6%
Like-for-like -1.0% 3.8%

 

Real

After the sale of Real Eastern Europe, Real is focusing on business in Germany. Like-for-like sales rose by 0.9%. With autumn dominated by intense competition, December saw again a significant positive development. A total of 50 stores have already been remodelled since October 2013 on the basis of the market concept successfully established in Essen. Real now offers an optimised product range, attractive prices and an enhanced shopping atmosphere in all remodelled stores. In financial year 2014/15, more stores are set to be remodelled in line with the new concept.

Real Q1 2013/14 Q1 2014/15
Sales (in € bn.) 2.6 2.2
thereof Germany (€ billion) 2.2 2.2
Change(€) -2.2% -0.7%
Like-for-like -2.1% 0.9%

 

Galeria Kaufhof

At Galeria Kaufhof, like-for-like sales fell year on year by 1.4%. A major reason for this was the mild weather conditions in autumn, which led to a poor start to the winter season for German textile sales. This decline was unable to be fully compensated in December even though Christmas business led to major increases in sales.

Galeria Kaufhof Q1 2013/14 Q1 2014/15
Sales (in € bn.) 1.0 1.0
Change(€) 0.6% -1.0%
Like-for-like 0.6% -1.4%

 

METRO GROUP is one of the largest and most important international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.
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METRO GROUP achieves sales target for the entire financial year 2013/14

  • Sales at METRO GROUP climbed by 1.3% in financial year 2013/14 after adjustment for portfolio changes and currency effects
  • Like-for-like sales increased by 0.1% after totalling -1.3% in the previous year; sales guidance achieved
  • Q4 2013/14: all sales lines generated higher like-for-like sales; considerable trend improvement at Media-Saturn
  • Earnings outlook confirmed
  • METRO GROUP’s Christmas business gets off to a confident start

Düsseldorf, Germany, 2014-10-21— /EPR Retail News/ — According to preliminary and unaudited figures, METRO GROUP increased its sales by 1.3% in financial year 2013/14 adjusted for portfolio and currency effects. The company’s like-for-like sales also rose slightly by 0.1%, compared with -1.3% in the previous year. In generating this gain, the Düsseldorf-based retailing company achieved its sales target for the entire financial year. In Q4 2013/14, like-for-like sales even increased by 0.7%. “We succeeded in improving our like-for-like sales in recent quarters”, said Olaf Koch, Chairman of the Management Board of METRO AG.”During Q4 in particular, we saw a strong trend improvement and increased like-for-like sales in every sales line. This is a clear reflection of our successful strategic transformation, a process we continued to energetically implement during this quarter. On the basis of our performance, we also confirm our outlook for EBIT before special items1. In addition, with these positive results we have further strengthened our financial power.”

Reported sales of METRO GROUP totalled €63.0 billion in financial year 2013/14. Adjusted for the disposal of company operations – particularly Real’s complete Eastern European business – sales declined by 1.1% compared with last year. Furthermore, exchange rates moved in a particularly negative direction during financial year 2013/14. Added together, portfolio and currency effects caused sales to fall by 4.0%. But adjusted for the portfolio changes and exchange rate developments, sales of METRO GROUP rose sharply by 1.8% in Q4. Reported sales in Q4 totalled €15.1 billion (Q4 2012/13: €15.5 billion).

During Q4 2013/14, METRO GROUP extensively expanded its business operations in the strategic growth areas of multichannel retailing, delivery, franchise activities and own brands. In the process, it solidified its market position and raised its level of relevance to customers in many countries. With Christmas approaching,METRO GROUP is well prepared and optimistically entered the current quarter.

METRO GROUP also has made further progress in its work to optimise its portfolio: the company expects the agreement to sell its wholesale business in Vietnam to take effect during the first half of 2015. The company also generated a considerable profit when it sold its stake in the British wholesale company Booker. Both steps will serve to reduce the company’s net debt and also create additional flexibility for further expansion in Eastern Europe and Asia as well as for investments in the transformation of its sales lines. In addition, METRO GROUPannounced in October 2014 that METRO Cash & Carry would withdraw from Denmark.

METRO GROUP 2
2012/13
2013/14
Q4 2012/13
Q4 2013/14
Sales (€ billion)
65.7
63.0
15.5
15.1
Change (in €)
-1.4%
-4.0%
-2.2%
-2.6%
Change (in local currency) 3
-1.7%
-0.2%
-0.9%
Like-for-like 3
0.1%
-0.3%
0.7%

Sales development of the sales lines in financial year 2013/14

METRO Cash & Carry
Like-for-like sales of METRO Cash & Carry rose in Q4 2013/14 for the fifth consecutive time. During September, in particular, the activities related to the 50th anniversary of the wholesale subsidiary had a positive effect. The previous year’s high sales level was almost reached in Germany. While business development in Western Europe declined in Q4, like-for-like sales continued to rise in Eastern Europe and Asia. Sales development in Russia remained very positive. By contrast, sales in Ukraine fell sharply in the wake of the crisis. Within Asia, sales in India recorded a particularly strong increase. As a result of portfolio adjustments and negative currency effects, total sales at METRO Cash & Carry declined by 2.1% during financial year 2013/14.

METRO Cash & Carry
2012/13
2013/14
Q4 2012/13
Q4 2013/14
Sales (€ billion)
31.2
30.5
7.8
7.6
Change (in €)
-1.4%
-2.1%
-0.4%
-2.1%
Change (in local currency) 3
2.0%
2.7%
0.9%
Like-for-like 3
1.0%
0.9%
0.1%
Media-Saturn
Media-Saturn generated sales of €21.0 billion during financial year 2013/14(2012/13: €21.1 billion). In Q4 2013/14, Media-Saturn produced a strong trend improvement with like-for-like sales growth of 1.8%. Sales rose significantly both in Germany and internationally due to the successful development of the stationary retail business as well as the rise in Media-Saturn’s multichannel sales. Like-for-like sales in its home market of Germany increased by 1.4%, due in part to successful marketing campaigns. In Western Europe, sales developed also positive. In Eastern Europe, the sales line generated double-digit growth rates in local currency in nearly all countries. The highest sales growth was generated in Hungary and Russia.
Media-Saturn
2012/13
2013/14
Q4 2012/13
Q4 2013/14
Sales (€ billion)
21.1
21.0
4.8
4.9
Change (in €)
0.8%
-0.3%
-0.1
3.1%
Change (in local currency) 3
0.9%
1.0%
3.9%
Like-for-like 3
-0.9%
-1.9%
1.8%

Real
Real generated sales of €8.4 billion during financial year 2013/14(2012/13: €10.4 billion). The decrease of 18.7% primarily resulted from the disposal of Real in Eastern Europe. In Q4 2013/14, sales totalled €1.9 billion(Q4 2012/13: €2.3 billion). Like-for-like sales produced by Real in Germany rose slightly by 0.2% in Q4. Overall, the improved positioning and store modernisation of METRO GROUP’s hypermarket business was particularly noticeable in a sector known for its very aggressive pricing policies. In particular, the remodelled Real stores had a positive impact on sales trends. The attractive product range with a large share of fresh foods and the successful own brands sold in a modern shopping environment have created a much more pleasant customer shopping experience.

Real
2012/13
2013/14
Q4 2012/13
Q4 2013/14
Sales (€ billion)
10.4
8.4
2.3
1.9
Change (in €)
-5.8%
-18.7%
-12.4%
-17.3%
Change (in local currency) 3
-18.3%
-11.6%
-17.3%
Like-for-like 3
-0.8%
-1.9%
0.2%

Galeria Kaufhof
Galeria Kaufhof increased its quarterly sales once again. In financial year 2013/14,Galeria Kaufhof generated total sales of €3.1 billion, a slight increase above the previous year’s level. In Q4, sales (including like-for-like) rose by 1.2%. The sales line’s product range that is continuously refined to meet customers’ needs and increased online sales contributed to this growth.

Galeria Kaufhof
2012/13
2013/14
Q4 2012/13
Q4 2013/14
Sales (€ billion)
3.1
3.1
0.7
0.7
Change (in €)
-1.3%
0.5%
1.1%
1.2%
Like-for-like 3
0.5%
1.1%
1.2%

Store network development

30/09/2013
New openings
2013/14
Closures/
disposals
2013/14
30/09/2014
Change
(absolute)
METRO
Cash & Carry
752
+17
-3
766
+14
Media-Saturn
948
+50
-12
986
+38
Real
384
+1
-74
311
-73
Galeria Kaufhof
137
137
+0
Total
2,221
+68
-89
2,200
-21

1 €1,750 million provided that exchange rates remain constant.
2 To enable better comparability following the change of the financial year, Q3 2013 is referred to in this report as Q4 2012/13. The period 12M 2012/13 consists of the former quarters Q4 2012, Q1 2013, Q2 2013 and Q3 2013.
3 Comparable figures for 2012/13 are not available due to the change of financial year.

METRO GROUP is one of the largest and most important international retailing companies. During the financial year 2012/13 (pro forma), it generated sales of about €66 billion. The company operates around 2,200 stores in 31 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments:METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Marktand Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

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METRO AG extends contract of CEO Olaf Koch

Düsseldorf, Germany, 2014-9-25— /EPR Retail News/ — The Supervisory Board of METRO AG has, as expected, extended in today’s meeting the contract of the Chief Executive Officer Olaf Koch with unanimous vote. Koch’s current contract, which is running until September 2015, will be renewed until September 2018, the Duesseldorf based retailing and trading group announced on Wednesday.

“The Supervisory Board would like to thank Olaf Koch for his dedication and achievements in the past years,” said Franz Markus Haniel, Chairman of the Supervisory Board of METRO AG. “Under the leadership of Olaf Koch decisive measures for the new positioning of METRO GROUP have been taken. We increasingly see the success of the transformation and have full trust in Olaf Koch and his management team to continue successfully the path already taken.”

Olaf Koch started as Chief Financial Officer of METRO AG in 2009 and took over as CEO in January 2012. During his current term as CEO the sales lines of the company – METRO Cash & Carry, Media Markt, Saturn and Redcoon as well as Real and GALERIA Kaufhof – have been directed towards a stronger customer orientation as well as adapted to the changing environment due to the increase of online sales. Also the company started to consequently withdraw from business areas without sufficient income or growth potential.

METRO GROUP is one of the largest and most important international retailing companies. During the financial year 2012/13 (pro forma), it generated sales of about €66 billion. The company operates around 2,200 stores in 31 countries and has a headcount of around 250,000 employees. The performance of METRO GROUP is based on the strength of its sales brands that operate independently in their respective market segments: METRO/MAKRO Cash & Carry – the international leader in self-service wholesale – Media Markt and Saturn – the European market leader in consumer electronics retailing – Real hypermarkets and Galeria Kaufhof department stores.

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