Metro Cash & Carry Romania reports 7 percent sales decline in 2011

Newsroom 21/03/2012 | 12:57

German retail and wholesale/cash and carry group Metro AG saw sales decreases on several European markets mainly due to the sovereign debt crisis, high unemployment rates and austerity programs “that led to a buying restraint on the part of consumers”, reads the company’s annual report.

Romania was no exception to the general trend with Metro Cash & Carry Romania reporting EUR 1.06 billion sales in 2011 on the local market, down 7 percent y-o-y. Last year the company opened two new Metro Punct stores which usually have a sales area of around 2,000 whereas Metro Cash & Carry stores are larger than 10,000 sqm.

German Metro Group is also present in Romania with the Real hypermarket chain. Metro Group’s number of employees on the local market amounted to 12,037 at the end of 2011, down by more than 1,100 compared to the previous year.

Metro AG’s group sales declined by 0.8 percent (0.2 percent in local currency) to reach EUR 66.7 billion last year. EBIT before special items reached EUR 2.37 billion (down 1.8 percent) but in line with the company’s expectations.

“The macroeconomic conditions in many countries have worsened noticeably compared to 2010. This notwithstanding, we succeeded in maintaining group sales and EBIT before special items almost at the same levels as last year”, said Olaf Koch, chairman of the management board of Metro AG.