Koch: Metro Group In A 'Very Robust And Viable Situation' Going Into 2017
Metro Group chief executive Olaf Koch has stated that the retail and wholesale group is in "a very robust and viable situation", following on from the publication of its full-year results yesterday.
During a media conference to present the results, Koch said that Metro had "achieved all our objectives and have been able to improve our results" in the past year, despite dealing with "major headwinds" in several key markets.
At Metro Cash & Carry, Koch noted that delivery sales were up 18%, accounting for €3.7 billion worth of sales, putting the business "at a level we weren't able to dream of five years ago".
He added that he expected recent acquisitions such as Classic Fine Foods, Rungis Express and Pro à Pro, will enable the cash-and-carry side of the business to "add another billion by way of sales next year".
In terms of Real, the group's hypermarket division, Koch noted that the division has "made massive progress with regard to its strategic orientation", adding that the recent opening of a new-look hypermarket in Krefeld "isn't just a demo store", adding that the general public considers it an "absolute hit".
With regard to Media-Saturn, Koch praised the company's decision some years back to commence online sales, which are up 11% year on year at the electronics retailer.
"Five years ago, people were smiling a little when we started selling online with Media Saturn, because the market was in its infancy," he commented. "It's not in its infancy any more."
In September, the group announced that its planned splitting of its wholesale and food business from its consumer-electronics operations would be completed by the middle of next year.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.