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METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 1
DISCLAIMER AND NOTES To the extent that statements in this presentation do not relate to historical or current facts, they constitute forward-looking statements. All forward-looking statements
herein are based on certain expectations and assumptions at the time of publication of this presentation and are subject to risks and uncertainties that could cause actual
results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this presentation. Many of
these risks and uncertainties relate to factors that are beyond METRO GROUP’s ability to control or estimate precisely. The risks and uncertainties to which these forward-
looking statements may be subject include (without limitation) future market and economic conditions, the behaviour of other market participants, investments in innovative
sales formats, expansion in online and multichannel sales activities, integration of acquired businesses and achievement of anticipated cost savings and productivity gains,
and the actions of government regulators. Readers are cautioned not to place too much reliance on these forward-looking statements. See also “Risk and Opportunity
Report” on pages 145 - 167 of the METRO GROUP Annual Report 2013/14 for risks as of the date of such Annual Report. METRO GROUP does not undertake any
obligation to publicly update any forward-looking statements or to conform them to events or circumstances after the date of this presentation.
This presentation is intended for information only. It is not intended as an offer for sale, or as a solicitation of an offer to purchase, any securities in any jurisdiction.
This presentation may not be reproduced, distributed or published without prior written consent of METRO AG.
All numbers are before special items, unless otherwise stated.
The consolidated financial statements have been prepared in euros. All amounts are stated in million euros (€ million) unless otherwise indicated. Amounts below €0.5
million are rounded and reported as 0. Since 2012, only the amounts in the income statement, the reconciliation from profit or loss for the period to total comprehensive
income, the balance sheet, the statement of changes in equity and the cash flow statement were rounded to produce the respective totals. In all other tables, the individual
amounts and the totals were rounded separately. This may entail rounding differences.
Due to the sale to Hudson’s Bay Company, Galeria Kaufhof will no longer be shown as a separate segment, but as a discontinued operations. Accordingly,
METRO GROUP's financials have been recalculated to account for the disposal of Galeria Kaufhof and the previous year's figures have been adjusted. The sale is
scheduled to close in September 2015.
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 2
AGENDA
01 Active Portfolio Management@ METRO GROUP 3
02 METRO GROUP @ a Glance 11
03 Three Market Leading Sales Lines 16
04 Performance in Q3 2014/15 & Outlook FY 2014/15 26
05 Key takeaways 32
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 3
METRO CASH & CARRY: ACQUISITION OF CLASSIC FINE FOODS,
AN FSD PLAYER IN THE PREMIUM SEGMENT IN ASIA (I)
UK
France
UAE
China KoreaJapan
Hong Kong
Vietnam
Thailand Philippines
MalaysiaSingaporeIndonesia
Leading FSD player in the high-margin premium segment:
Access to high growth markets
Unique service offering
Highly niche premium product portfolio
Presence in 25 mainly Asian cities across 14 countries
~6,000 active customers with focus on HoReCa customer
group
c. 800 full-time employees
Financials 2014: sales US$219m
EBITDA US$18m (margin 8%)
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 4
2. EXPANDING WHOLESALE OPERATIONS FROM 26 TO 36 COUNTRIES
FUELLING FUTURE SALES AND EARNINGS GROWTH
METRO CASH & CARRY: ACQUISITION OF CLASSIC FINE FOODS,
AN FSD PLAYER IN THE PREMIUM SEGMENT IN ASIA (II)
Superior sales growth (CAGR FY 10-14: 15%) and EBITDA margin (8%) compared
to FSD peers and Cash & Carry segment
1. HIGHLY ATTRACTIVE PREMIUM FSD BUSINESS MODEL FOR STRONG
IMPROVEMENT OF FSD COMPETENCE
CFF sales (in US$m)
118
208
0k
0k
0k
0k
0k
0k
2010A 2011A 2012A 2013A 2014A
Source: Company Information
Hotel Restaurants Others
CFF extends METRO’s FSD capabilities to widen service for its HoReCa customers
3. TOP MANAGEMENT TEAM TO LEVERAGE SYNERGY POTENTIAL
Further growth potential by expanding CFF in selected European MCC markets
219
126
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 5
MEDIA-SATURN: ACQUISITION OF RTS GROUP, A FULL-SERVICE &
REPAIRS PROVIDER FOR ELECTRONIC PRODUCTS (I)
Full-service and repairs provider
for electronic products
Founded in 1989 by Josef Raith
Headquartered in Wolnzach,
Bavaria
Further locations in Germany:
Augsburg, Nürnberg, Regensburg,
Sömmerda, Straubing
Cooperation with > 50 service
partners across Europe
Around 1,200 employees
Financials 2014: Sales ~€136m;
EBITDA ~€8 m.
CE service & repairs
• Multiple device repairs and
customer service solutions
Technical after-sales
service (Profectis)
• Only on-site (home) service
provider for white goods
covering the whole of Germany
• Warranty-buy-out
Smart home installations
• Smart home installations and
support in-store and on-site
(home/B2B)
Spare parts
• Spare parts logistics &
management
• Online spare parts sales
B2B/B2C
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 6
Valuation and deal structure
Sellers: Josef Raith (Founder) & Capiton AG
Share deal
In a first step, acquisition of 90% of the shares
Full exit of Capiton AG
Founder Raith to keep 10% of the shares
Transaction subject to approval by the cartel offices
MEDIA-SATURN: ACQUISITION OF RTS GROUP, A FULL-SERVICE &
REPAIRS PROVIDER FOR ELECTRONIC PRODUCTS (II)
Deal rationale for MSH
Acquisition enables MSH to transform from a
transaction-/product-driven CE retailer to a
customer-solution-focused CE retailer
Added value service throughout the entire
customer journey (beyond the buying process)
Dedicated service offering as a new product
Consistent quality standards
From a single source
Unique opportunity to work with suppliers on back-
end process optimization, service and repairs
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 7
GALERIA KAUFHOF: KEY TRANSACTION FACTS
Disposal of department store operations in Germany
and Belgium together with the related real estate
portfolio to Hudson’s Bay Company
Enterprise value of €2.825bn
Substantial assurances for around 21,500 employees,
HQ and stores
Significant reduction in rating-relevant1 net debt by
c.€2.7bn, including cash inflow of c. €1.6bn
Net book gain on sale of c. €0.7bn
Closing expected by end of FY 2014/15
Germany
Belgium
Total € million
FY Sales 2013/14 2,920 178 3,099
FY EBIT 2013/142 193
Stores per 31/3/2015 119 16 135 1Standard & Poor‘s methodology
2 before special items
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 8
Increase overall capex budget to ca. €2bn over the
next few years
Intensify investment activity
▪ Growth countries (METRO Cash & Carry and Media-
Saturn)
▪ Store remodellings and new store formats in inner
city locations (METRO Cash & Carry and Media-
Saturn)
▪ Complementary assets to accelerate growth in Cash
& Carry (FSD) and Media-Saturn (multi-channel)
Digital penetration of the HoReCa sector
(METRO Cash & Carry)
Strengthen financial profile
GALERIA KAUFHOF: USE OF PROCEEDS FROM SALE
RoCE* 2013/14 vs. Cost of Capital
* lease-adjusted
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 9
SUCCESSFUL PORTFOLIO STREAMLINING AND FOCUS ON CORE OPERATIONS
Freeing up capital to focus on and grow the core business and strengthen the balance sheet
Disposals
METRO Cash &
Carry Morocco
Saturn France
Media-Markt China
Real Eastern Europe
MAKRO Cash &
Carry UK
&
Booker stake
&
METRO Cash & Carry
Denmark & Vietnam *)
MAKRO Cash & Carry
Egypt & Greece
Real Turkey
GALERIA Kaufhof
2010 - 2011 2012 - 2013 2014 2015
*) Vietnam pending
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 10
AGENDA
01 Active Portfolio Management@ METRO GROUP 3
02 METRO GROUP @ a Glance 11
03 Three Market Leading Sales Lines 16
04 Performance in Q3 2014/15 & Outlook FY 2014/15 26
05 Key takeaways 32
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 11
ONE OF THE LARGEST RETAILERS IN THE WORLD
Sales: €60 billion
EBIT: €1.5 billion
Stores: 2,063
Countries: 31
Employees: 230,000
DATA BASE: FY 2013/14 ADJUSTED FOR GALERIA KAUFHOF
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 12
5%
73%
51%
METRO AG
2013/14
Sales
Share
2013/14
EBIT
Share*
* Pre Other and consolidation
22%
14% 35%
Europe’s No. 1
consumer
electronics
Retailer
One of the leading
operators of
hypermarkets
in Germany
The world’s
leading player in
the cash & carry
sector
THREE MARKET LEADING SALES LINES
Business Innovation
Real Estate Portfolio
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 13
Germany
Western
Europe
Eastern
Europe Asia/Africa
METRO
GROUP
1 11 14 5 31 2013/14
Countries
2013/14
Sales
Share
We generate approximately 30% of Group sales in emerging markets
37% 32% 25%
STRONG INTERNATIONAL PRESENCE
6% 100%
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 14
FY 2013/14* – ALL TARGETS ACHIEVED
Better sales, higher earnings, stronger balance sheet
LFL Sales
Dividend
EPS
Net Debt
Major challenges
Sluggish economic environment
Geopolitical crisis
Weak emerging market currencies
Major achievements
Consequent focus on our customers in terms of
Assortment
Services
Solution Competences
Improved company culture
Active portfolio management
+0.1%
€0.90 per
ordinary
share
+25%
to €1.84
-€0.7bn
to €4.7bn
* Includes Galeria Kaufhof
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 15
AGENDA
01 Active Portfolio Management@ METRO GROUP 3
02 METRO GROUP @ a Glance 11
03 Three Market Leading Sales Lines 16
04 Performance in Q3 2014/15 & Outlook FY 2014/15 26
05 Key takeaways 32
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 16
THE WORLD‘S LEADING PLAYER IN THE CASH & CARRY SECTOR
Focused on B2B self-service wholesaling to
3 customer groups: HoReCa, Trader and SCO
High performance internationally replicable concept
International share of sales of 84%
766 stores in 28 countries
Profitable Growth Drivers:
▪ Outstanding freshness & quality in food
▪ Dedicated sales force
▪ Innovative store concepts
▪ Delivery
▪ Own brands
▪ Expansion Focus on Russia, China, India and Turkey
€ million FY 2012/13 FY 2013/14
Sales 31,165 30,513
RoCE 15.7% 13.3%
EBIT 1,379 1,125
EBIT Margin 4.4% 3.7%
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 17
STRATEGIC AMBITIONS
Being the “Champion for Independent Business”
Strong differentiation through exceptional food competence
Development and roll-out of innovative wholesale concepts
Ongoing cost structure review
Overall Ambition:
Market Leadership in well defined sectors through unique product ranges and strong focus on B2B
solutions that make our customers more competitive
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 18
MCC’S NEW OPERATING MODEL FOSTERS ENTREPRENEURSHIP
Our new approach includes:
Countries are fully empowered for value creation
Certain functions are shared based on common needs
Utilization of best practices and expertise will be increased
Commercial Intelligence is close to operations
The center takes an active ownership approach
▪ through Operating Partners
▪ with much higher proximity to the business and
▪ much more intensive interactions
Effectiveness and intensity of leadership grow
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 19
MAJOR CHANGES EXPECTED
From past … … to new operating model
Standard approach across all countries Significant localization based on country
situation
Multi project management across
all countries
Dedicated focus on locally selected
CTGs and selected key initiatives
Heavy expansion across many countries Focused expansion in selected countries
“Most international” country portfolio Optimized portfolio to create value
Classic planning and budgeting process Value Creation plan as the central
steering component
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 20
ESSENCE OF OUR NEW OPERATING MODEL
Our Aspiration: Increase effectiveness & proximity
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 21
EUROPE’S NO. 1 IN CONSUMER ELECTRONICS RETAILING
Pan-European market leader with 986 stores in 15 countries
and online presence
Large-scale, full assortment store base with entrepreneurial
store managers
Very competitive EDLP pricing strategy
Innovative merchandising and marketing concepts
Profitable Growth Drivers:
Business model transformation
Multi-channel sales activities in 14 countries
Online sales
Own brands
€ million FY 2012/13 FY 2013/14
Sales 21,053 20,981
RoCE 15.5% 14.9%
EBIT 299 335
EBIT Margin 1.4% 1.6%
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 22
STRATEGIC AMBITIONS
Continue transformation to seamless multichannel approach
Enhance position as “partner of choice” for suppliers
Further improving cost position: Target cost ratio of 19%
Overall Ambition:
Media Markt and Saturn:
Europe’s leading seamless shopping experience in consumer electronics
Redcoon:
Europe’s leading online pure player with a big product range and the lowest prices
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 23
LEADING OPERATOR OF HYPERMARKETS IN GERMANY
Following the divestment of activities in Eastern Europe and
Turkey focus is on Germany with 307 stores
Food accounts for approx. 75% of sales
Comprehensive product range of 80,000 different articles
Member of Germany’s leading loyalty card programme
PAYBACK
Profitable Growth Drivers:
▪ Store remodellings
▪ Own brands
▪ Entrepreneurial store management
▪ Multichannel activities: Webshop www.real-onlineshop.de
with more than 20,000 products
€ million FY 2012/13 FY 2013/14
Sales 10,366 8,432
RoCE 5.8% 4.1%
EBIT 145 81
EBIT Margin 1.4% 1.0%
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 24
STRATEGIC AMBITIONS
Capturing market share by offering best customer propositions
Extending own brand offering and multichannel activities
Continuing remodeling program
Strict cost control
Overall Ambition:
Unique choice and quality in food retail complemented by a compelling non-food range.
Well-adjusted to serve our key customer groups. Enhanced through multichannel.
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 25
AGENDA
01 Active Portfolio Management@ METRO GROUP 3
02 METRO GROUP at a Glance 11
03 Three Market Leading Sales Lines 16
04 Performance in Q3 2014/15 & Outlook FY 2014/15 26
05 Key takeaways 32
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 26
Q3 2014/15: SALES AND EBIT BY DIVISION
Germany and Western Europe with improved LfL sales development vs. Q2; EBIT down due to Easter shift
Positive LfL sales growth despite FIFA World Cup last year supported by good development in Eastern Europe; EBIT further improved
LfL sales development needs to be seen in the context of a strong Q3 2013/14 (+5.1%); EBIT positive driven by strict cost control and sound margin development in some categories
Others Lower gains from real estate disposals vs. last year
€ million
METRO Cash & Carry 7,449 -1.3% 0.1% 281 266 262 -4
Media-Saturn 4,620 1.2% 0.2% -70 -66 -60 6
Real 1,885 -8.2% -3.7% -3 -3 5 8
Others/Consolidation 14 - - 45 45 2 -43
METRO GROUP 13,967 -1.4% -0.4% 253 ~243 209 -34
Δ
Q3 2014/15
vs Q3 2013/14
comparable
Sales
Q3 2014/15 Change
Like-for-Like
Change
EBIT
Q3 2013/14
EBIT
comparable
Q3 2013/14
EBIT
Q3 2014/15
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 27
Q3/9M 2014/15 INCOME STATEMENT (EBIT TO EPS)
Ongoing improvement of net financial result driven by lower net debt and interest level
The high tax rate in Q3 results from our integral approach thus the adjustments for the
9M period affect Q3
Tax rate for continuing operations of 56.6% in 9M 2014/15 (9M 2013/14: 56.8%) in line
with expectations
€ million
Q3 2013/14
Q3 2014/15
9M 2013/14
9M 2014/15
EBIT 253 209 1,127 1,076
Net financial result -102 -94 -376 -269
EBT 151 115 751 807
Income Taxes -73 -113 -426 -456
Profit or loss for the period from continuing operations 78 2 325 351
Profit or loss for the period from disconinued operations 17 5 181 94
Profit or loss for the period 95 7 506 445
EPS in € from continuing operations 0.27 0.05 0.84 0.94
EPS in € 0.32 0.07 1.39 1.23
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 28
APPRECIATION OF EBIT 9M 2014/15
487
872
590
255
1,127
Special Items 9M 2013/14
(Reported)
Negative
FX Impact
~-100
9M 2013/14
(Before
Special Items)
9M 2014/15
(Before
Special Items)
~301)
9M 2014/15
(Reported)
Special Items 9M 2013/14
(Comparable
Before
Special Items)
~601)
in € million +49
1) Real Estate Gains from Divestments
~1,027 1,076
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 29
9M 2014/15: OTHER KEY FINANCIALS
Net debt further reduced by around €0.4bn to €5.1bn due to portfolio optimization and real estate
divestments
Net working capital and cash flow from operating activities impacted by FX and negative NWC
development at Media-Saturn, cash flow additionally impacted by higher tax cash out
Capex of €656m mainly invested in modernisation, expansion and remodellings
€ million
9M 2014/15 Change
Net debt (as at 30/06) 5,795 5,530 5,130 -400
Net working capital (as at 30/06) -1,776 -1,982 -1,700 282
Change in net working capital
(cash flow impact)-456 -403 -682 -279
Cash flow from operating activities 958 791 474 -317
Capex 701 558 656 98
Number of new store openings 57 57 42 -15
9M 2013/14
reported
9M 2013/14
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 30
OUTLOOK 2014/15: FINANCIAL TARGETS
€ billlion
Reported
FY 2013/143
Guidance
FY 2014/15
Sales growth1.2 +1.3% >0%
LFL sales growth +0.1% >0%
EBIT before special items 1,531 >1,5312
Capex 1.0 ~1.5
Net debt 4.7flat <3.2
Number of new store openings 68flat ~501Adjusted for portfolio changes 2Based on constant foreign exchange rates3Adjusted for Galeria Kaufhof
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 31
AGENDA
01 Active Portfolio Management@ METRO GROUP 3
02 METRO GROUP @ a Glance 131
03 Three Market Leading Sales Lines 16
04 Performance in Q3 2014/15 & Outlook FY 2014/15 26
05 Key takeaways 32
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 32
CUSTOMER VALUE clearly in focus, relevance further increased
BUSINESS MODEL UPGRADE on track and to be intensified
EFFECTIVENESS enhanced with new Operating Model (MCC)
Successful PORTFOLIO MANAGEMENT to be continued
Fast growing new sales CHANNELS and SERVICES
Strengthened BALANCE SHEET
INNOVATION as a catalyst for further growth
Creating value for all METRO GROUP stakeholders
METRO GROUP’S TRANSFORMATION IS ON TRACK
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 34
9M 2014/15: SALES AND EBIT BY DIVISION
8 consecutive quarters with LfL growth; EBIT above PY level if adjusted for FX
4 consecutive quarters with LfL growth; significant EBIT improvement driven by operating leverage and cost control
LfL sales impacted by intense competition; EBIT development influenced by targeted marketing investments and costs for store remodellings
Others Higher rental costs and lower gains from real estate disposals vs. last year
Change
Like-for-Like
Change
€ million
METRO Cash & Carry 22,338 -2.5% 0.9% 864 ~754 781 +27
Media-Saturn 16,655 3.8% 3.2% 205 ~215 309 +94
Real 5,944 -9.4% -0.6% 54 54 53 -1
Others/Consolidation 40 - - 5 5 -66 -71
METRO GROUP 44,977 -1.2% 1.6% 1,127 ~1,027 1,076 +49
Sales
9M 2014/15EBIT
reported
9M 2013/14
EBIT
comparable
9M 2013/14
EBIT
reported
9M 2014/15
Δ
9M 2014/15
vs 9M 2013/14
comparable
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 35
APPRECIATION OF EBIT Q3 2014/15
175
253
171
Q3 2014/15
(Before
Special Items)
209
Special Items
35
Q3 2014/15
(Reported)
Q3 2013/14
(Comparable
Before
Special Items)
~243
Negative
FX Impact
~-10
Q3 2013/14
(Before
Special Items)
Special Items
83
Q3 2013/14
(Reported)
in € million -34
~601)
~301)
1) Real Estate Gains from Divestments
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 36
METRO CASH & CARRY: HIGHLIGHTS Q3 2014/15
8th consecutive quarter with LfL sales growth
▪ Germany improved vs. Q2 despite shift of Easter
business
▪ Western Europe: Italy and Spain with positive LfL
sales growth
▪ Eastern Europe: esp. Russia and Turkey with positive
LfL sales development
▪ Asia: China LfL sales development impacted by giving
up low-margin volume business
Delivery sales increased by 15% (representing more
than 10% of total Cash & Carry sales)
7 new store openings, 2 store closures
Sale of METRO Cash & Carry Vietnam on track
Q3 Q2
1.1
Q1
1.4
Q4
0.1
Q3
2.0
Q2
0.8
Q1
0.9 0.1
2013/14 2014/15
Like-for-Like Sales Development in %
Q3 Q2
10.1
Q1
8.6
Q4
10.0
Q3
9.4
Q2
9.4
Q1
7.9 10.9
2013/14 2014/15
Delivery Sales Share in %
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 37
METRO CASH & CARRY: STRATEGIC UPDATE
Implementation of the New Operating Model to foster
entrepreneurship well on track
▪ New organizational structure “live” since 1 July 2015, teams
almost fully staffed
▪ Pieter Boone took his office as member of the Management Board
of METRO AG
▪ Countries currently working on the Value Creation Plans (VCPs)
together with their Operating Partners (OPs)
▪ Full implementation of the New Operating Model by October 2016
Techstars METRO Accelerator well on track
METRO Cash & Carry business in Russia under control
METRO Cash & Carry Germany
▪ Improved development of important HoReCa customer group
▪ Upgrading and rebranding of Schaper stores to METRO GASTRO
started
▪ First promising results from FSD pilot in Weiterstadt
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 38
Deal rationale for MCC Valuation and deal structure
Acquire full FSD capabilities
Accelerate growth in the HoReCa sector
Expand into additional countries
Add strong management capabilities
Capture additional value through
▪ Strengthened access to exclusive
assortment
▪ Support of international expansion
▪ Capture opportunities for selected store
operations in new regions
Seller: Klassisk Holding Limited (EQT)
Share deal
Enterprise value of US$290m + earn-out
Valuation multiple of 11.6x (EV/2015E EBITDA)
in line with peers (MARR1)12.3x; Sysco1)10.1x)
METRO CASH & CARRY: ACQUISITION OF CLASSIC FINE FOODS,
AN FSD PLAYER IN THE PREMIUM SEGMENT IN ASIA (III)
1) Valuation as at 28 July 2015 based on factset
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 39
MEDIA-SATURN: HIGHLIGHTS Q3 2014/15
4th consecutive quarter with positive LfL sales growth
▪ Germany impacted by missing sales from FIFA
World-Cup last year
▪ Western Europe: All major countries grew
▪ Eastern Europe: Positive despite Russia suffering
from crisis
Continued strong growth in online sales of +24%
(representing 9% of total Media-Saturn sales)
Internet product offering further increased to
▪ about 130,000 SKUs at www.mediamarkt.de
▪ about 120,000 SKUs at www.saturn.de
4 new store openings, 5 store closures
Q3
0.2
Q2
5.2
Q1
3.8
Q4
1.7
Q3
-0.2
Q2
-3.7
Q1
-1.0
2013/14 2014/15
Like-for-Like Sales Development in %
404436512
353328358398
Q3 Q2 Q1 Q4 Q3 Q2 Q1
2013/14 2014/15
Online Sales in € million
1 1
1Adjusted for Redcoon Denmark and France
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 40
MEDIA-SATURN: STRATEGIC UPDATE
Business transformation well on track
▪ European market leadership extended by 0.6%pt to 13.4% (highest market share ever!)
▪ Market leadership in 9 countries, market share increased in 11 countries
▪ Market share gains in all categories
▪ All countries contribute to improved operating performance
Implementation of electronic shelf labelling (ESL)
Further roll-out of city center formats to meet customer needs
Ongoing portfolio optimisation
(space reductions / store closings)
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 41
MEDIA-SATURN LAUNCHES NEW ENTERTAINMENT PORTAL JUKE
German launch of JUKE (joint digital entertainment platform)
on 3rd August 2015
Strategic expansion of Media-Saturn’s digital business through
comprehensive digital offering:
▪ >30 million songs
▪ >15,000 movies and TV series
▪ 1.5 million e-books
▪ 2,400 PC games
▪ 2,400 PC software applications
Free JUKE app pre-installed on various devices and available for
download on Google Play and iOS App Store
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 42
REAL GERMANY: HIGHLIGHTS Q3 2014/15
+1.4% LfL sales growth over two years
Good performance of fruit & vegetables as well as
household goods
Online sales with strong improvement
EBIT with stable development driven by tight cost
control and sound margin development in some
categories
Joint venture with Carlton Investment to further
enhance attractiveness and footfall of 10 Real
hypermarkets
1 store closure
0.9
Q2 Q3 Q1
5.1
0.2
Q4
-6.6
Q2 Q1
1.1
-2.1
Q3
-3.7
2013/14 2014/15
Like-for-Like Sales Development in Germany in %
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 43
REAL GERMANY: STRATEGIC UPDATE
Additional initiatives to further improve performance
▪ Service agreement with Markant for complete settlement
▪ Striving for in-house collective agreement
Commercial Model will drive top-line performance
▪ 82 stores already remodeled, 25 to follow in Q4 2014/15
▪ Remodeled stores continue to outperform the other stores by round
about 2%
Supply chain optimization moving forward
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 44
SPECIAL ITEMS
€ million
Q3 2013/14
Q3 2014/15
9M 2013/14
9M 2014/15
Portfolio Optimisation Measures -18 11 -13 11
Restructuring and Efficiency-
Enhancing Measures-60 -42 -149 -95
Goodwill-Impairments 0 0 -88 -470
Others -5 -3 -6 -35
METRO GROUP -83 -35 -255 -590
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 45
STORES BY DIVISION AND COUNTRY
*including 4 stores in the Others segment
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 46
METRO TECHSTARS ACCELERATOR (1)
BEST DIGITAL INNVOATIONS FOR HORECA
Seeking the best digital innovations for
hotels and restaurants.
Intensive start-up-bootcamp
Broad network of experienced mentors
3 prestigious partners
10 companies to be chosen
techstars METRO ACCELERATOR with
R/GA
Berlin – 2015/2016
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 47
METRO TECHSTARS ACCELERATOR (2)
APPLICANTS FROM AROUND THE GLOBE
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 48
CULINARY AGENTS (1)
The Vision:
the networking platform enabling talent and
supporting businesses in the hospitality industry
The mission:
is to connect, develop and educate the world’s
existing and aspiring hospitality professionals.
Focusing on the problem of talent sourcing first.
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 49
CULINARY AGENTS (2)
Become the leading professional network
for the Hospitality Community
Support of European roll-out by METRO
Italy & France to launch with major events in Oct 15;
Spain, Portugal & Germany to follow
Pre-launch piloting with key hospitality
schools and opinion leaders
Partnership agreement with Guide
Michelin (USA, France, Italy)
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 50
METRO AND ALIBABA JOIN FORCES TO PROMOTE E-COMMERCE IN CHINA (1)
Strategic partnership with the leading Chinese online and mobile
commerce company to promote business in China’s rapidly growing
e-commerce market
METRO is launching its official flagship store its official flagship store
exclusively on Alibaba’s Tmall Global platform (https://metro.tmall.hk)
offering a range of German products to Chinese consumers
In the first phase, over 100 products in the categories of diary, canned
foods, coffee and chocolate from METRO Cash & Carry Germany as
well as cosmetic products from Real are to be offered online
The product assortment is planned to be expanded with more food
items from METRO Cash & Carry and non-food from Real on the e-
shop
PC
Mobile
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17 & 18 September 2015 | © METRO AG 2015 51
7 5 2 1 0 1 1
6 4 0
21
39
35
31
23 21
25
40
21
28
31
41
32 33
1,335 763
426 250 222 375 1,060 1,311 1,516
2,013
4,369 4,982
4,014 3,741 3,367 3,275
4,464 5,711
4,969
6,930
8,675
11,078
11,706
9,368
00:00 01:00 02:00 03:00 04:00 05:00 06:00 07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00
Orders
Visitor
Time
METRO & Alibaba
Announcement
METRO AND ALIBABA JOIN FORCES TO PROMOTE E-COMMERCE IN CHINA (2)
METRO GROUP, Investor Relations
17 & 18 September 2015 | © METRO AG 2015 52
CONTACT
Investor Relations
Metro-Straße 1
40235 Duesseldorf
Germany
Tel.: +49 (0)211 6886-1051
Fax: +49 (0)211 6886-3759
Email: [email protected]
Internet: www.metrogroup.de