The sales and EBITDA outlook for the financial year 2020/21, which was published on 20 April 2021, was raised on 27 July 2021. This was due to the better-than-expected business development since the easing of restrictions. Dedicated operational measures to support the re-start of our customers resulted in continuous market share gains. The currency adjusted sales to HoReCa customers grew by 57% in Q3 2020/21, exceeded the pre-pandemic level for the first time in June and continued to develop positively in July.
METRO now expects:
- Sales (both total sales and like-for-like) to decline by approximately -0.5% to -3.5% vs. previous year (previously: -3% to -6% below previous year)
- A development of EBITDA adjusted of €50 million to €-75 million to previous year (previously: decline by roughly €-50 million to €-175 million to previous year)
The outlook assumes stable exchange rates and no further adjustments to the portfolio. A partial re-introduction of restrictions is reflected with the lower end of the outlook corridor considering the still high level of uncertainty and volatility regarding the further development of the pandemic.
For the financial year, regions with a high share of hospitality customers, like the Western Europe (excl. Germany) segment, experience the largest impact of government restrictions on sales and earnings. Positive sales developments are expected in the segments Russia, Eastern Europe (excl. Russia) and Asia. On the earnings side, a heterogeneous development in the segments is expected, with the group result being determined in particular by the further sales-dependent development in Western Europe (excl. Germany).