Wholesale operator Metro AG has closed its 2022/23 financial year with sales growth of 8.8%, which is in the upper half of its guidance range (5% to 10%).
In the fourth quarter, sales in local currency increased by 5.4%, year on year, with all business units contributing to this growth.
Business segments in the east registered growth of 10.3%, while the west saw growth of 3.8%.
Sales in Germany increased by 0.8%, while Russia reported growth of 1.3%.
The performance of delivery businesses Pro à Pro France, Pro a Pro Spain and Aviludo – as well as the sales of Swedish-based delivery specialist JHB – also contributed to this growth.
Due to negative exchange rate developments in Türkiye and Russia, reported sales declined by 1.1%, to €7.9 billion.
Commenting on the company’s performance, Dr Steffen Greubel, CEO of Metro AG, stated, “This demonstrates that the consistent focus on the implementation of the sCore strategy is paying off, and we are making clear progress towards strengthening delivery, online business, and the optimisation of the wholesale approach for our stores.
“At the same time, we are laying the proper groundwork for the future with sCore and our multichannel strategy. The outlook for the next financial year remains challenging. Taking into account our continued growth in the previous financial year, we are well positioned to achieve our 2030 ambition.”
In the third quarter, Metro AG reported a 5.9% increase in currency- and portfolio-adjusted sales. Sales in local currency went up by 2.5% in the quarter.