Metro

Metro (BUY, TP EUR38,  from EUR35) Metro’s solid full-year results and upbeat comments on trading conditions in core countries like Germany, Russia and Spain lead […]

Metro  (BUY, TP EUR35) Metro released some details about the planned demerger of its core divisions. From October on the group will be split in […]

Metro (BUY, TP EUR35) Metro announced the acquisition of the French food service distribution company Pro à Pro from Colruyt. The company generated last year […]

Metro (BUY, TP EUR35) Real reaches deal with labour unions Metro announced that they finally reached a deal with the labor unions. The tariff agreement […]

Q2 results ahead of consensus Q2 sales decreased by 0.9% to EUR13.6bn and up 0.7% in local currency, in line with our estimates and consensus. All […]

De-merger plans trigger revaluation  (Full report) Metro has announced plans to de-merge its core divisions into separate entities. The C&C wholesale business and Real hypermarkets […]

Q1 results burdened by one-offs  (full report) Q1 results were hit by a couple of one-off effects: first, a EUR40m forex effect; next, pricey ad […]

Solid Q1 sales  Q1 like-for-like sales increased by 0.1% driven by further improvements in core divisions. Reported sales feel by 1.5% to EUR17.1bn due to […]

Back to growth  (PDF with full financials) Metro full-year results beat consensus at all levels leading us to reiterate our BUY rating with a target […]

Solid FY results: guidance remains broad Metro reported an EBIT adjusted of EUR1.51bn well ahead of consensus estimates of EUR1.45bn. EPS adj. rose by 7cent […]

Sustained comparable growth in core divisions Metro FY trading came in in-line with expectations at EUR59.2bn (Hammer est. EUR59.3bn). In Q4 group like-for-like sales increased […]

Roadshow feedback We hosted a roadshow with Metro IR yesterday in Luxembourg. In essence the message was that the portfolio streamlining of the past years […]