German retailer Metro Group has announced that total company sales for the 2009 financial year fell by 3.6 per cent to €65.5bn from €68bn in 2008, the result of by negative currency effects, although in local currency terms sales climbed by 0.2 per cent.
Domestic sales fell slightly to €26.5bn from €26.7bn in 2008, with western European sales down to €20.9bn from €21bn and Eastern European sales falling to €15.8bn from €18.1bn. African/Asian sales showed signs of improvement, however, up to €2.3bn from €2.2bn last year.
'In spite of the global economic and financial crisis, 2009 was all in all a satisfactory year for Metro Group,' said CEO Eckhard Cordes. 'We were able to further strengthen our market positions in many countries during this unprecedented year of crisis.
'In 2010, the number of new store openings will increase significantly, whereby the growth regions, Eastern Europe and Asia, will continue to be focused on,' he continued. 'Media Markt will open its first stores in China. Furthermore, Metro Cash & Carry plans its market entry into Egypt. Already in the crisis year of 2009 Metro opened 80 new locations worldwide.'
For the fourth quarter alone, group sales decreased by 3.4 per cent to €19.4bn, with currency effects continuing to burden sales.
'The consistent implementation of the efficiency and value-enhancing programme Shape 2012 will sustainably strengthen the earnings power of Metro Group,' Mr Cordes said. 'With the new structures in place, it is now a question of tapping the potentials step by step and continuing to press ahead with the implementation. Therewith, we also safeguard Metro Group's profitable growth in the long run.'
