Metro SA: Sales increased in 2021 by 2.3%

Metro SA: Sales increased in 2021 by 2.3%

METRO AEBE showed an increase in net sales by 2.26% in 2021 compared to the previous year. Net sales amounted to € 1.36 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 57 million, compared to € 58.7 million in 2020 (decrease of 2.90%) due to the impact of rising energy prices from July 2021 onwards.

My market maintained its market share stable, with the average basket showing an increase of 4%. The lifting of measures against the pandemic, the opening of the restaurant and the good tourist season of 2021, led to a significant increase in the size of METRO Cash & Carry.

2021 brought new data and significant challenges to the market. In this climate, METRO AEBE, managed to achieve significant financial results and to evaluate positively another year, for the retail and wholesale of food.

METRO, with quick reflections on the changes that the industry is undergoing, adapted immediately, set new standards and responded effectively to the new challenges. Implements faithfully and in the long run, a long-term energy saving plan, makes significant investments with a clear orientation to accelerate the digital transformation and aims at the stable development of the network, both in physical points and in the online sales channels, while the 11 of its people remains a priority!

The financial results

Despite the climate of uncertainty, the financial results of METRO SA for 2021 are positive. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 57 million, compared to € 58.7 million in 2020 (decrease of 2.90%). Profit before tax amounted to € 23.5 million compared to € 24.1 million last year. 2021 closed with net sales of € 1.36 billion, compared to € 1.33 billion in 2020 (an increase of 2.26%).

The financial results for 2021 have been affected by the significant increase in energy costs that started in July, and despite the company’s investments in this sector, it has affected the final configuration of Profit before Tax and EBITDA by more than 8 cm. €.

My market

Despite the shift of customers in the big halls, the share of the chain remained stable in 2020, while in the average basket there was an increase of more than 4%.

During 2021, 5 new stores were opened, 1 store was expanded, while another 4 were radically renovated. At the same time, smaller renovations and additional works were implemented in 11 stores. The chain currently has 231 stores throughout Greece. The imprint of My market is going to grow with the new Franchise scheme that the chain started as a pilot during 2021 under the name My market Speedy and is planning a dynamic roll-out from the Fall of 2022.
Eshop.mymarket.gr is the online store that shows € 7.38 bigger basket compared to the competition, while it has maintained the number of its unique customers from 2020, despite the return to normalcy.

METRO Cash & Carry

The release of the measures, the opening of the restaurant and the good tourist season, positively affected the market of Ho.Re.Ca. which for several months remained closed or under-operated. Thus, the results of METRO Cash & Carry, as the leader of the wholesale trade in the country, marked a remarkable positive course. At the same time, in the small retail sector, the good course of the chain that had been established during the lock down period continued.
With personalized service vehicle, METRO Cash & Carry has a fully staffed network of Sales Consultants throughout Greece, especially for Ho.Re.Ca. customers, a well-organized distribution network with a delivery capacity of more than 1,000 orders per day and the largest network of physical stores.

The investment in Cyprus

The development plan of “BEST VALUE FOR PROFESSIONALS” is proceeding normally with the search for a new space in Nicosia and the effort to consolidate the Cash & Carry model in the Cypriot market. The 2nd year of operation closes with an increase in sales of 69% despite strong competition.

Fuel stations

METRO, with 14 petrol stations, becomes the largest independent network in Greece. The excellent quality of the fuels is ensured by the long-term collaborations with AVIN oil and ELINOIL.

Planning 2022 and Investments

In 2022, it has already shown an upward trend, amounting to an estimated 5% in sales. An increase that comes mostly from the network of wholesale stores.

METRO SA has designed an ambitious, long-term investment and development plan. The supply chain is significantly strengthened by doubling the size of the Distribution Center at the Thessaloniki Bridge, which will be delivered in June 2022.

In the field of energy saving, the stable and consistent, from 2015, plan of the company, is implemented with investments that exceed € 60 million. After the completion of the cooling, air conditioning and lighting interventions in a store, a reduction of 48% is achieved. By 2023, the company aims to cover more than 30% of its energy requirements from privately owned, Renewable Energy Sources through the significant investment of photovoltaics, amounting to € 18 million. Finally, the cooperation with nrg and the development of a network of electric and hybrid vehicle chargers in My market and METRO Cash & Carry, perfectly complements the company’s Sustainable Development plan.

The digital transformation of METRO, which numbers 285 points (stores, distribution centers and offices) throughout Greece, is already implemented with the installation of SD-WAN network, while the image is complemented by innovative, in-house applications, which significantly facilitate internal communication and daily life of the employees, but also of the partners – suppliers of the company.

The two networks (My market, METRO Cash & Carry) are developing steadily. In 2022, 6 new My market stores are expected, while the customers of METRO Cash & Carry, are already making their purchases from the new online store of the chain, exclusively for professionals of Catering & Ho.Re.Ca. but also Retail, which since its silent start (March 2022) until today, has received more than 2,000 orders exceeding € 1 million in sales. 2022 is expected to be the year of METRO Cash & Carry that show a steady upward trend.

Source: Capital