Duyuru • Apr 17
Metro AG(XTRA:B4B) dropped from Germany SDAX (Total Return) Index Metro AG (St) has been dropped from the Germany Small DAX (Total Return) Index. Reported Earnings • Feb 06
First quarter 2025 earnings released: EPS: €0.21 (vs €0.36 in 1Q 2024) First quarter 2025 results: EPS: €0.21 (down from €0.36 in 1Q 2024). Revenue: €8.57b (up 5.6% from 1Q 2024). Net income: €75.0m (down 42% from 1Q 2024). Profit margin: 0.9% (down from 1.6% in 1Q 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Duyuru • Feb 06
EP Global Commerce GmbH signed an agreement to acquire remaining 50.01% stake in Metro AG (XTRA:B4B) from BC Equities GmbH & Co. KG, Beisheim Holding GmbH, Palatin Verwaltungsgesellschaft Mbh and others for approximately €960 million. EP Global Commerce GmbH signed an agreement to acquire remaining 50.01% stake in Metro AG (XTRA:B4B) from BC Equities GmbH & Co. KG, Beisheim Holding GmbH, Palatin Verwaltungsgesellschaft Mbh and others for approximately €960 million on February 5, 2025. As part of consideration, cash offer price of €5.33 per equity share and €5.33 per Preference Share will be paid by EP Global Commerce GmbH. Upon completion, EP Global Commerce GmbH will own 100% stake in Metro AG. The Delisting Agreement obliges EPGC to make a public tender offer for all outstanding shares of METRO AG and METRO AG’s Management Board to file an application for the revocation of the admission of the METRO AG’s shares to trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange during the acceptance period of the Delisting Offer. METRO's other anchor shareholders, BC Equities GmbH & Co. KG and Beisheim Holding GmbH as well as Palatin Verwaltungsgesellschaft mbH, understand EPGC’s request for the Delisting and have entered into a non-tender agreement with EPGC, according to which they will not tender their shares in METRO into the Delisting Offer. Together, they represent approx. 24.99% of METRO’s share capital and voting rights attached to METRO shares.
The Delisting Offer will not be subject to any closing conditions and will not include a minimum acceptance threshold. It will be made pursuant to the terms and conditions set forth in the offer document to be approved by the German Federal Financial Supervisory Authority (BaFin). Following approval by BaFin, the offer document will be published in accordance with the German Securities Acquisition and Takeover Act and the acceptance period for the Delisting Offer will commence. Both is expected to take place in March. The delisting from the regulated market will also terminate some of the comprehensive financial reporting obligations and capital market publication requirements of METRO. METRO’s Management supports the delisting. Duyuru • Jan 09
Metro AG, Annual General Meeting, Feb 19, 2025 Metro AG, Annual General Meeting, Feb 19, 2025, at 10:00 W. Europe Standard Time. New Risk • Dec 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risk Paying a dividend despite being loss-making. Price Target Changed • Oct 29
Price target decreased by 7.1% to €5.35 Down from €5.76, the current price target is an average from 9 analysts. New target price is 21% above last closing price of €4.44. Stock is down 26% over the past year. The company is forecast to post a net loss per share of €0.017 compared to earnings per share of €1.21 last year. Duyuru • Oct 09
Metro AG to Report Q1, 2025 Results on Feb 05, 2025 Metro AG announced that they will report Q1, 2025 results on Feb 05, 2025 Duyuru • Aug 30
Metro AG (XTRA:B4B) acquired Caterite Food and Wineservice Limited from Keith Anthony Graham. Metro AG (XTRA:B4B) acquired Caterite Food and Wineservice Limited from Keith Anthony Graham on August 28, 2024. Caterite generated revenues of £44 million in 2023.
Metro AG (XTRA:B4B) completed the acquisition of Caterite Food and Wineservice Limited from Keith Anthony Graham on August 28, 2024. Reported Earnings • Aug 16
Third quarter 2024 earnings released: EPS: €0.04 (vs €0.48 in 3Q 2023) Third quarter 2024 results: EPS: €0.04 (down from €0.48 in 3Q 2023). Revenue: €7.98b (up 4.4% from 3Q 2023). Net income: €15.0m (down 91% from 3Q 2023). Profit margin: 0.2% (down from 2.3% in 3Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 15
Now 21% overvalued Over the last 90 days, the stock has fallen 12% to €4.46. The fair value is estimated to be €3.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Jul 23
Price target decreased by 7.0% to €5.75 Down from €6.18, the current price target is an average from 9 analysts. New target price is 35% above last closing price of €4.25. Stock is down 46% over the past year. The company is forecast to post earnings per share of €0.18 for next year compared to €1.21 last year. Reported Earnings • May 08
Second quarter 2024 earnings released: €0.53 loss per share (vs €0.29 loss in 2Q 2023) Second quarter 2024 results: €0.53 loss per share (further deteriorated from €0.29 loss in 2Q 2023). Revenue: €6.90b (flat on 2Q 2023). Net loss: €193.0m (loss widened 80% from 2Q 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Duyuru • Mar 07
Daniel Kretínský and Patrik Tkác acquired additional 8.99% stake in Metro AG (XTRA:B4B). Daniel Kretínský and Patrik Tkác acquired additional 8.99% stake in Metro AG (XTRA:B4B) on March 1, 2024.Daniel Kretínský and Patrik Tkác completed the acquisition of additional 8.99% stake in Metro AG (XTRA:B4B) on March 1, 2024. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €5.39, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Consumer Retailing industry in Europe. Total loss to shareholders of 40% over the past three years. New Risk • Feb 09
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 125% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (125% net debt to equity). Dividend is not well covered by earnings (424% payout ratio). Large one-off items impacting financial results. Price Target Changed • Feb 08
Price target decreased by 7.4% to €6.02 Down from €6.51, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of €6.11. Stock is down 31% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €1.21 last year. Major Estimate Revision • Feb 07
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €31.8b to €31.2b. EPS estimate rose from €0.14 to €0.157. Net income forecast to shrink 85% next year vs 27% growth forecast for Consumer Retailing industry in Germany . Consensus price target down from €6.52 to €6.04. Share price was steady at €6.34 over the past week. Price Target Changed • Feb 06
Price target decreased by 7.5% to €6.17 Down from €6.67, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of €6.34. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €1.21 last year. Upcoming Dividend • Feb 01
Upcoming dividend of €0.55 per share at 8.8% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 12 February 2024. Trailing yield: 8.8%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (4.4%). Major Estimate Revision • Dec 20
Consensus EPS estimates fall by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.412 to €0.30 per share. Revenue forecast steady at €31.8b. Net income forecast to shrink 75% next year vs 30% growth forecast for Consumer Retailing industry in Germany . Consensus price target down from €6.73 to €6.51. Share price rose 7.0% to €6.24 over the past week. Reported Earnings • Dec 15
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €1.21 (up from €0.92 loss in FY 2022). Revenue: €30.6b (up 2.7% from FY 2022). Net income: €439.0m (up €773.0m from FY 2022). Profit margin: 1.4% (up from net loss in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 23
Price target decreased by 8.1% to €6.97 Down from €7.58, the current price target is an average from 8 analysts. New target price is 13% above last closing price of €6.18. Stock is down 11% over the past year. The company is forecast to post earnings per share of €1.17 next year compared to a net loss per share of €0.92 last year. Duyuru • Sep 18
Metro AG(XTRA:B4B) dropped from FTSE All-World Index (USD) Metro AG(XTRA:B4B) dropped from FTSE All-World Index (USD) Duyuru • Aug 24
Metro Ag Announces CFO Changes As of 30 September 2023 Mr. Christian Baier departs from Metro AG, where he has been appointed as Chief Financial Officer. Reported Earnings • Aug 13
Third quarter 2023 earnings released: EPS: €0.48 (vs €0.80 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.48 (up from €0.80 loss in 3Q 2022). Revenue: €7.64b (down 3.4% from 3Q 2022). Net income: €174.0m (up €464.0m from 3Q 2022). Profit margin: 2.3% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Jun 17
Metro Ag Announces Resignation of Christian Baier as Chief Financial Officer, Effective September 30, 2023 Metro AG reached an agreement with CFO Christian Baier, underwhich he will leave the firm as of September 30, 2023 to pursue other professional opportunities. The company has initiated a search process for the position of Chief Financial Officer. Baier has been with METRO since 2011. He held various management positions, including Group Director Strategy, Business Innovation and M&A as well as Chief Financial Officer of METRO Cash & Carry. Duyuru • May 28
Metro AG to Report Fiscal Year 2023 Final Results on Dec 13, 2023 Metro AG announced that they will report fiscal year 2023 final results at 6:30 PM, Central European Standard Time on Dec 13, 2023 Major Estimate Revision • May 18
Consensus EPS estimates increase by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €30.4b to €30.8b. EPS estimate increased from €0.813 to €1.03 per share. Net income forecast to grow 56% next year vs 20% growth forecast for Consumer Retailing industry in Germany. Consensus price target up from €7.77 to €7.99. Share price was steady at €7.44 over the past week. Reported Earnings • May 14
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €6.90b (up 10% from 2Q 2022). Net loss: €107.0m (loss narrowed 62% from 2Q 2022). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Duyuru • May 12
Reliance Retail Ventures Limited completed the acquisition of METRO Cash and Carry India Private Limited from Metro AG (XTRA:B4B). Reliance Retail Ventures Limited agreed to acquire METRO Cash and Carry India Private Limited from Metro AG (XTRA:B4B) for INR 28.5 billion on December 22, 2022. As of financial year, ended September 2022, Metro India generated sales of INR 77 billion. The transaction is subject to certain regulatory and other customary closing conditions. The deal is expected to complete by March 2023. Goldman Sachs Europe Se acted as financial advisor to Metro AG. J.P. Morgan Securities acted as financial advisor to METRO Cash and Carry India Private Limited. Zia Mody, Aditya Vikram Bhat and Bhuvana Veeraragavan of AZB & Partners acted as legal advisors to METRO Cash and Carry India Private Limited. Sullivan & Cromwell LLP represents J.P. Morgan as financial adviser to METRO AG. As of February 22, 2023. Reliance Retail is expected to retain the staff of METRO after the acquisition. As of March 14, 2023, Competition Commission of India approved the acquisition.
Shishir Vayttaden, K Aishwarya, Surbhi Ajitsaria, Viswanathan, Arun Prabhu, Anirban Mohapatra, Arpita Sengupta, Gyanendra Kumar, Shreya Som, Soumya Dasgupta, Avaantika Kakkar, Abhishek Sharma, Kirthi Srinivas, Ashish Jain, Abhilash Pillai, Karan Sharma,Urjita Chitnis, Ritha Ulbyre, Richa Mohanty and Mansi Mantoo of Cyril Amarchand Mangaldas acted as legal advisor to Reliance Retail Ventures Limited.
Reliance Retail Ventures Limited completed the acquisition of METRO Cash and Carry India Private Limited from Metro AG (XTRA:B4B) on May 11, 2023. Duyuru • May 05
Metro AG (XTRA:B4B) entered into an agreement to acquire JOHBECO Group for approximately €100 million. Metro AG (XTRA:B4B) entered into an agreement to acquire JOHBECO Group for approximately €100 million on May 4, 2023. The closing of the transaction is expected to occur mid of May 2023. Reported Earnings • Feb 12
First quarter 2023 earnings released: EPS: €1.44 (vs €0.54 in 1Q 2022) First quarter 2023 results: EPS: €1.44 (up from €0.54 in 1Q 2022). Revenue: €8.11b (up 6.6% from 1Q 2022). Net income: €522.0m (up 168% from 1Q 2022). Profit margin: 6.4% (up from 2.6% in 1Q 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Duyuru • Jan 07
Metro AG, Annual General Meeting, Feb 24, 2023 Metro AG, Annual General Meeting, Feb 24, 2023, at 10:00 Central European Standard Time. Major Estimate Revision • Jan 04
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from €0.55 to €0.76. Revenue forecast steady at €31.0b. Net income forecast to grow 23% next year vs 18% growth forecast for Consumer Retailing industry in Germany. Consensus price target of €7.65 unchanged from last update. Share price rose 4.9% to €9.55 over the past week. Major Estimate Revision • Dec 26
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from €0.48 to €0.64. Revenue forecast steady at €30.9b. Net income forecast to shrink 11% next year vs 18% growth forecast for Consumer Retailing industry in Germany . Consensus price target broadly unchanged at €7.40. Share price rose 8.3% to €9.10 over the past week. Major Estimate Revision • Dec 19
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from €30.4b to €30.9b. EPS estimate increased from €0.42 to €0.48 per share. Net income forecast to shrink 22% next year vs 18% growth forecast for Consumer Retailing industry in Germany . Consensus price target up from €7.22 to €7.38. Share price was steady at €8.57 over the past week. Duyuru • Dec 17
Metro AG to Report Q3, 2023 Results on Aug 10, 2023 Metro AG announced that they will report Q3, 2023 results at 6:30 PM, Central European Standard Time on Aug 10, 2023 Price Target Changed • Oct 25
Price target decreased to €7.39 Down from €7.96, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of €7.10. Stock is down 36% over the past year. The company is forecast to post a net loss per share of €0.82 next year compared to a net loss per share of €0.15 last year. Price Target Changed • Oct 22
Price target decreased to €7.67 Down from €8.32, the current price target is an average from 10 analysts. New target price is 13% above last closing price of €6.82. Stock is down 38% over the past year. The company is forecast to post a net loss per share of €0.66 next year compared to a net loss per share of €0.15 last year. Price Target Changed • Oct 10
Price target decreased to €7.96 Down from €8.62, the current price target is provided by 1 analyst. New target price is 25% above last closing price of €6.38. Stock is down 45% over the past year. The company is forecast to post a net loss per share of €0.67 next year compared to a net loss per share of €0.15 last year. Reported Earnings • Aug 12
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €7.91b (up 27% from 3Q 2021). Net loss: €290.0m (down €353.0m from profit in 3Q 2021). Over the next year, revenue is forecast to grow 1.1%, compared to a 7.6% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: €0.78 loss per share (down from €0.36 loss in 2Q 2021). Revenue: €6.25b (up 24% from 2Q 2021). Net loss: €284.0m (loss widened 117% from 2Q 2021). Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is expected to shrink by 1.2% compared to a 7.6% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Major Estimate Revision • May 13
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €26.2b to €26.8b. EPS estimate fell from €0.40 to €0.31 per share. Net income forecast to grow 262% next year vs 14% growth forecast for Consumer Retailing industry in Germany. Consensus price target of €9.45 unchanged from last update. Share price was steady at €8.45 over the past week. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €7.75, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Consumer Retailing industry in Europe. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.76 per share. Reported Earnings • Dec 17
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €24.8b (down 3.4% from FY 2020). Net loss: €56.0m (loss narrowed 62% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.0%, compared to a 8.0% growth forecast for the retail industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 11
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.19 to €0.17 per share. Revenue forecast steady at €24.4b. Net income forecast to grow 565% next year vs 15% growth forecast for Consumer Retailing industry in Germany. Consensus price target broadly unchanged at €10.30. Share price rose 3.1% to €11.38 over the past week. Reported Earnings • Aug 02
Third quarter 2021 earnings released: EPS €0.17 (vs €0.39 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €6.25b (up 12% from 3Q 2020). Net income: €63.0m (up €203.0m from 3Q 2020). Profit margin: 1.0% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 01
Price target increased to €10.20 Up from €9.46, the current price target is an average from 9 analysts. New target price is 6.7% below last closing price of €10.93. Stock is up 41% over the past year.