8 th WestLB Deutschland Conference

Transcription

1 8 th WestLB Deutschland Conference Relative Strength of Corporate Germany 18 November 2010, Frankfurt Oliver Steinert, Head of Investor Relations

2 Disclaimer and Notes To the extent that statements in this presentation do not relate to historical or current facts, they constitute forwardlooking statements (including within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended). 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, including (without limitation) future market and economic conditions, the behaviour of other market participants, the ability to successfully integrate acquired businesses and achieve anticipated cost savings and productivity gains, and the actions of government regulators. Readers are cautioned not to place reliance on these forward-looking statements. 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 GROUP. All numbers are before special items, unless otherwise stated. Please note that new accounting standards have been applied. More information regarding the application of accounting methods refer to the notes to the Annual Report 2009 and the Half-Year Financial Report H1/Q Extra s activities are disclosed as discontinued operations in 2007 and Figures at Other are adjusted for Adler s activities in 2007, 2008 and The figures in this presentation are rounded to provide a better overview. The calculation of deviations is based on figures incl. fractions. Therefore rounding differences can occur. 1

3 METRO GROUP: Sales Growth in Every Region and Like-for-Like in Every Division Group sales grew by 4.5% Sales Development ( ) Sales in Germany above prior year s level 2.3% 2.4% 4.5% International sales rose by 7.3% Western Europe +3.3% Eastern Europe +10.1% -2.5% -3.8% Q2-4.6% -3.4% Q4 Q2 Asia/Africa +23.8% EBIT grew by 26.9% to 445 million thanks to Shape and the divisional like-for-like performance EBIT Development ( in million) FY 2010 EBIT outlook raised to c. 2.3 billion before special items Q2 Q4 Q2 2

4 Sales and EBIT by Region Germany Western Europe Eastern Europe Asia / Africa METRO GROUP Countries No. of stores ( YTD) 956 (-61) 615 (+19) 452 (+13) 81 (+6) 2,104 (-23) 9M Sales ( million) 9M 18,281 : -0.9% : +0.2% 15,228 : +3.7%; LC:+3.1% : +3.3%; LC:+2.5% 12,004 : +7.1%; LC:+1.1% :+10.1%; LC:+4.8% 2,009 :+13.4%; LC:+10.6% :+23.8%; LC:+13.8% 47,522 : +3.1%; LC:+1.3% : +4.5%; LC:+2.6% Share of sales 39% 32% 25% 4% 9M EBIT* ( m) ( YoY) 12 (-28) 453 (+109) 486 (+92) -37 (-10) 915 (+162) EBIT* ( m) ( YoY) 20 (+4) 240 (+39) 214 (+73) -24 (-18) 445 (+95) * pre-consolidation As at 30 September

5 New Organisational Structure: Prerequisite for further Successful Execution of Shape New Group Structure New Metro Cash & Carry Structure J. Saveuse* J. Saveuse * F. Muller Europe/MENA Asia/New Markets Holding Real Estate Germany Austria Belgium Denmark France Italy Netherlands Portugal Spain UK Bulgaria Croatia Czech.Rep. Greece Hungary Moldova Poland Romania Serbia Slovakia Turkey Egypt Morocco Purchasing Supply Chain Private Label Expansion.... Asia China India Japan Pakistan Vietnam CIS Russia Kazakhstan Ukraine Key Priorities Turnaround Germany Private Label Delivery Services Field Force Key Priorities Tap expansion opportunities in Asia Improve capital efficiency of new store openings * also responsible for Real 4

6 EBIT Potential of 1.5 billion Implementation of efficiency- and value-enhancing programme Shape 2012 well on track Decentralised organisation structure set up 800 million in cost reductions to be largely effective in 2011 and reflect ~8% of the total cost base excl. depreciation and leases 700 million in productivity gains fully effective in 2012 million 700 Metro Cash & Carry 400 Real 250 Media Markt and Saturn 50 Galeria Kaufhof 50 Real estate Productivity Gains 800 Cost Reductions Other 1,500 EBIT effect Shape 2012 GER ~40% WE ~30% EE Asia ~30% Indicative regional split Market conditions, price investments Net EBIT effect 2012 illustrative 5

7 Metro Cash & Carry A Success Story in Modern Mass Distribution Leading global Cash & Carry wholesaler Matchless international expansion: international share of sales over 80% High RoCE (>35%) due to capital efficient model Profitable Growth Drivers: HoReCa Trader Food "Food Pro" Non-Food "Non- Food Pro" Turnaround Germany SCO Club" Innovating the business model International expansion ~30 ~40 ~ E 2011E 2012E Asia/New Markets Europe/MENA 6

8 Top Priorities: Making the Business Even Better... Private label push Food Non-Food Transform the Model Delivery service roll-out Enhanced CRM Professionalising the food assortment New approach in non-food HoReCa Trader SCO "Food Pro" Club" "Non- Food Pro" Metro Drive Rapid expansion model to cover cities without further store potential First opened in October 2009 in France Innovating the Model Online catalogue for food & non-food assortment Makro Punkt Satellite store supplied mainly by mother store with dedicated Trader focus First opened in October 2009 in Poland 7

9 Expansion focus: Asia and Eastern Europe Accelerate expansion with focus on Asia and Eastern Europe Improve capital efficiency of new store openings In China, focus on three expansion areas to achieve critical mass New Store Openings Targeted East Coast Expansion Areas in China ~40 ~50 Existing Planned Potential Harbin Shenyang 32 ~30 Beijing Tianjin Dalian Bohai Bay (incl. Beijing) Asia/New Markets Europe/MENA E 2011E 2012E Chengdu Kunming Xi an Chongqing Zhengzhou Wuhan Changsha Hefei Nanjing Nanchang Hangzhou Qingdao Fuzhou Quanzhou Guangzhou Xiamen Foshan Dongguan Zhongshan Zhuhai Shenzhen Changzhou Wuxi Nantong Suzhou Shanghai Jiaxing Ningbo Yangtze River Delta (incl. Shanghai) Metro Existing Store Metro New Stores Pearl River Delta (incl. Guangzhou) 8

10 Real - A Leading Hypermarket Player Leading player in Germany Presence in five Eastern European countries with top market positions Large range of fresh produce complemented by attractive non-food assortment Profitable Growth Drivers: Driving turnaround in Germany further Eastern Europe ( sales CAGR: +29%) 2 3% EBIT margin targeted 9

11 In Germany Real Is Making Good Progress Improved Customer Orientation German EBIT margin at 1% in 2009 Staff friendliness Value-for-money Availability of products Former Walmart stores turned positive Attractiveness for our customers has further improved Competitive price positioning Share of private label increased to 16%; including fresh 23% 19 underperforming stores are disposed of Staff expertise Cleanliness/ store hygiene % Store atmosphere Price Positioning Choice/range of products Quality of products % 102.6% 97.9% % 97.5% 97.9% Hypermarket Sector Retailer 1 Retailer 2 Retailer 3 Retailer 4 10

12 Eastern European Business Has the Potential to Become a Significant Driver of Profitable Growth 108 stores in five countries Sales CAGR of almost 30% in the last five years Presence in Eastern Europe Top 3 market position in Poland and Romania Strong growth momentum in Russia Significant EBIT improvement in 9M As at 30/09/2010 # of stores Sales million CAGR: +29% 2,296 2,885 2, ,

13 Media Markt and Saturn Present in 16 European Countries Pan-European market leader in consumer electronics retailing Large-scale, full assortment and highly capital efficient Entrepreneurial management: Store managers are partners and determine assortment, pricing and staffing Profitable Growth Drivers: International expansion Chinese market for consumer electronics to grow to more than 180 billion over the next five years Multi-channel approach to complement the store base Private label launch 12

14 Market Share Gains Continue in a Challenging Environment Market position Jan. - Aug Jan. - Aug points Austria # % 26.5% 2.8% Hungary # % 19.5% 0.1% Germany # % 18.1% -0.6% Poland # % 16.7% -1.9% Luxemburg Newcomer 14.4% 15.7% 1.3% Netherlands # % 15.4% 0.9% Switzerland # % 14.3% 2.8% Italy # % 13.3% 0.9% Spain # % 11.8% 1.0% Belgium # % 11.6% 1.6% Greece # 2 8.5% 9.2% 0.7% Sweden Early stage 8.8% 8.9% 0.1% Portugal # 4 6.5% 6.4% -0.1% Turkey Newcomer 2.4% 3.9% 1.5% Russia Early stage 2.6% 3.8% 1.2% France Relaunch 1.9% 2.1% 0.2% Source: GfK 13

15 Private Labels: Breaking New Ground Launch of private label ranges: Ok, Koenic, Peaq and Isy Target different customer groups and offer premium-brand quality and service at a significantly lower price Counter the increasing level of market consolidation and the declining level of competition among premium brand manufacturers Products will be available exclusively in stores and online Leverage Media Markt and Saturn s leading market positions and earnings profile 14

16 Galeria Kaufhof Leader in German and Belgium Department Stores Concept and systems leader in Germany s department store segment and market leader in Belgium 3.5 billion sales in % fully leased EBIT margin in 2009 Profitable Growth Drivers: Focus on mid-market and lifestyle orientation (sharper brand and private label portfolio) Strong cost and stock management In the context of Group strategy non-core 15

17 Outlook Medium- Term Sales growth EBIT (before special items) -3.6% 0 6% > 6% 2.0 billion ~ 2.3 billion > 10% Capex 1.5 billion 2.1 billion > 2.2 billion New store openings ~ 30 ~ 5 ~ 60 ~ 40 ~ 15 > 70 16

18 Summary Portfolio of strong retail brands with diversified international presence Efficiency- and value-enhancing programme Shape 2012 well on track METRO GROUP well positioned for future profitable growth 17

19 8 th WestLB Deutschland Conference Relative Strength of Corporate Germany 18 November 2010, Frankfurt Oliver Steinert, Head of Investor Relations

20 9M/ 2010

21 Metro Cash & Carry: Sales grew by 4.0% MCC Sales Development ( ) % 4.0% EBIT increased by 70 million to 252 million EBIT driven by Shape 2012 and better like-for-like sales development (+0.1%) Germany: +2.8% like-for-like sales growth (adjusted for tobacco & telephone cards) Like-for-like sales growth in every single food and non-food destination category Delivery sales grew by 37.8% Private label sales share at 18.8% (+360bps) -0.6% -6.4% -6.6% -8.7% -8.7% Q2 Q4 Q2 MCC Like-for-like Sales Development -4.5% -4.2% -5.4% Q % -2.9% -5.6% Q4 Q2 0.1% Germany (lfl ex tobacco & telephone cards) % 0.3% 2.8% -1.5% -1.1% -5.9% -4.3% Q2 Q4 Q2 20

22 Metro Cash & Carry: International Western Europe: Better sales trend vs. H1 with food sales being the main driver Italy and France with good like-for-like development -5.2% Western Europe (lfl) % -1.6% -3.3% -3.5% -3.3% -0.7% Q2 Q4 Q2 Eastern Europe: Eastern Europe (lfl) Every single country with sequential like-for-like sales trend improvement -2.1% -0.1% Russia was the star performer -6.2% -6.9% -8.7% -6.7% -5.5% Q2 Q4 Q2 Asia/Africa: All Asian countries with double-digit sales growth rates Asia/Africa (lfl) % 5.4% 7.9% China: like-for-like sales up c.8% and EBITpositive following an improving trend -4.9% -5.3% -4.9% -3.4% Q2 Q4 Q2 21

23 Real: Real is profitable Improved EBIT margins in both Germany and Eastern Europe Sales Development ( ) % 0.1% 1.7% -4.9% -1.5% -3.7% -1.8% Germany: 1 further hypermarket disposed of 16.2% private label share Since January more than 240 concept modules implemented Q2 Q4 Q2 Like-for-like sales Development (LC) % 1.7% 0.3% -0.4% -0.3% Eastern Europe: Double-digit sales growth -1.4% Q2 Q4-2.6% Q2 Russia with c.20% like-for-like sales growth Close to break-even 22

24 Media Markt and Saturn: Market leading position confirmed EBIT margin returned to prior year s level despite start-up costs for China, online and private labels 8.3% Germany (lfl) % 2.9% 1.8% 1.6% Germany: Like-for-like sales growth despite tougher comps Western Europe: 8.7% sales growth on the back of accelerated expansion Online sales in the Netherlands and Austria are growing -5.6% -1.6% -3.6% Q2 Q4 Q2 Western Europe (lfl) % 4.8% 0.8% 1.0% -4.7% Q2 Q4 Q2 0.5% Eastern Europe (lfl) Eastern Europe: Double-digit like-for-like sales growth in Russia Remarkable sales trend improvements in Poland and Hungary -0.8% % -10.0% -12.0% -14.2% -15.2% 0.9% Q2 Q4 Q2 23

25 Galeria Kaufhof: Leading market position Sales Development ( ) % 3.5% Excellent sales development thanks to the Galeria concept strength and its clear customer target approach EBIT already positive in for the third consecutive year 0.3% -0.3% -2.6% -3.8% -4.2% Q2 Q4 Q2 Like-for-like sales Development (LC) % 4.2% 0.1% -0.6% -3.9% -4.7% -2.7% Q2 Q4 Q2 24

26 EBIT by Division million Change 9M M 2010 Change Metro Cash & Carry % % Real % Media Markt and Saturn % % Galeria Kaufhof % Real Estate % % Other % % Consolidation METRO GROUP % % 25

27 Sales and EBIT by Region Germany Western Europe Eastern Europe Asia / Africa METRO GROUP Countries No. of stores ( YTD) 956 (-61) 615 (+19) 452 (+13) 81 (+6) 2,104 (-23) 9M Sales ( million) 9M 18,281 : -0.9% : +0.2% 15,228 : +3.7%; LC:+3.1% : +3.3%; LC:+2.5% 12,004 : +7.1%; LC:+1.1% :+10.1%; LC:+4.8% 2,009 :+13.4%; LC:+10.6% :+23.8%; LC:+13.8% 47,522 : +3.1%; LC:+1.3% : +4.5%; LC:+2.6% Share of sales 39% 32% 25% 4% 9M EBIT* ( m) ( YoY) 12 (-28) 453 (+109) 486 (+92) -37 (-10) 915 (+162) EBIT* ( m) ( YoY) 20 (+4) 240 (+39) 214 (+73) -24 (-18) 445 (+95) * pre-consolidation As at 30 September

28 Cash Flow and Net Debt Net debt improved slightly Operating cash flow slightly down to higher receivables vs. suppliers Cash flow from investing activities still reflects last year s capex reduction Cash Flow Net Debt ( billion) million 9M M 2010 Change Cash flow from operating activities -1,940-2, Cash flow from investing activities Cash flow before financing activities -2,716-2, Q Q Q

29 Appendix

30 Sales by Region million CAGR '02 - '09 Germany 27,691 28,300 26,541 25,948 24,824 26,133 26,665 26, % Western Europe (excl. Germany) 15,308 16,264 17,148 17,976 19,439 20,532 20,993 20, % Eastern Europe 7,524 8,053 8,707 10,614 12,592 15,680 18,084 15, % Asia/Africa 1, ,079 1,184 1,424 1,865 2,213 2, % METRO Group 51,526 53,595 53,475 55,722 58,279 64,210 67,955 65, % 29

31 EBIT by Region Germany Western Europe Eastern Europe Asia/Africa 1, million (pre-consolidation)

32 Expected Shape Special Items of c. 650 million Shape Special Items Special Items by Division [ ] million (EBIT) 343 Other 20% 237 Real Estate 9% Galeria Kaufhof 16% Metro Cash & Carry 51% >170 Media Markt and Saturn 1% Real 3% <130 Special Items by Type [ ] Other Concept 10% adjustments 17% 34% Personnel E 2011 E 39% Closures 31

33 Number of Stores by Division and Country Metro Cash & Carry Real Media Markt and Saturn Galeria Kaufhof Other METRO GROUP 9M 30/09/10 9M 30/09/10 9M 30/09/10 9M 30/09/10 9M 30/09/10 9M 30/09/10 Germany Austria Belgium Denmark 5 5 France Italy Luxemburg Netherlands Portugal Spain Sweden Switzerland United Kingdom Western Europe Bulgaria Croatia 6 6 Czech Republic Greece Hungary Kazakhstan Moldova 3 3 Poland Romania Russia Serbia 5 5 Slovakia 5 5 Turkey Ukraine Eastern Europe China Egypt India 5 5 Japan Morocco 8 8 Pakistan 5 5 Vietnam Asia/Africa Total ,104 32

34 Metro Cash & Carry Financials ( million) * 2009* Sales 21,032 22,726 23,972 25,093 26,442 28,087 29,907 31,698 33,143 30,613 35,000 Sales Change yoy in % 8.0% 8.1% 5.5% 4.7% 5.4% 6.2% 6.5% 6.0% 4.6% -7.6% Change yoy in % - pre-currency 7.2% 8.8% 6.4% 7.7% 5.6% 4.4% 6.2% 5.7% 5.4% -2.5% 30,000 Change yoy in % - lfl (LC) % 1.6% 1.1% -0.3% 1.9% 2.2% 2.4% -4.9% 25,000 EBITDA ,078 1,200 1,280 1,377 1,510 1,631 1,406 1,165 Change yoy in % 9.9% 11.4% 10.9% 11.2% 6.7% 7.6% 9.6% 8.0% % 20,000 EBITDA margin 4.2% 4.3% 4.5% 4.8% 4.8% 4.9% 5.0% 5.1% 4.2% 3.8% 15,000 EBIT** ,111 1,243 1, Change yoy in % 6.9% 11.7% 12.4% 12.3% 6.5% 5.1% 9.7% 11.9% % 10,000 EBIT margin 3.0% 3.2% 3.4% 3.6% 3.6% 3.6% 3.7% 3.9% 3.4% 3.1% 5,000 Capital Employed ,565 2, RoCE % 35.9% Sales ( million) Capex * New segment reporting structure ** until 2003: EBITA Operating Statistics Number of stores Selling space (1,000 sqm) 2,972 3,182 3,423 3,725 3,952 4,218 4,507 4,875 5,176 5,291 Change yoy in % 6.6% 7.1% 7.5% 8.8% 6.1% 6.7% 6.9% 8.2% 6.2% 2.2% Average store size (sqm) 8,419 8,287 7,832 7,841 7,841 7,754 7,717 7,927 7,902 7,921 Sales/Øsqm ( ) 7,304 7,386 7,259 7,021 6,889 6,876 6,856 6,757 6,595 5, Regional Sales Breakdown Eastern Europe 36% Asia/Africa 7% 17% Germany 40% Western Europe 33

35 Real Financials* ( million) ** 2009** Sales 8,166 8,375 8,198 8,205 8,182 8,192 8,775 11,003 11,635 11,298 12,000 Sales and EBIT Margin 4% Change yoy in % 2.4% 2.6% -2.1% 0.1% -0.3% 0.1% 7.1% 25.4% 5.8% -2.9% Change yoy in % - pre-currency 2.3% 3.0% -1.1% 1.2% 0.0% -1.2% 7.1% 25.0% 5.4% 1.3% Change yoy in % - lfl (LC) % 0.1% -2.2% -4.7% -2.5% -0.1% 4.4% 0.0% EBITDA Change yoy in % 13.6% 28.0% 5.3% 3.1% -8.3% % -16.7% % EBITDA margin 3.4% 4.2% 4.5% 4.7% 4.3% -1.5% 2.2% 1.5% 1.6% 2.1% 10,000 8,000 6,000 4,000 3% 2% 1% EBIT*** Change yoy in % 15.2% 46.0% 13.5% 5.9% -9.3% ,000 0% EBIT margin 1.7% 2.4% 2.8% 2.9% 2.7% 0.0% 0.2% -0.2% 0.1% 0.5% Capital Employed ,942 2, % RoCE % 1.9% Sales Capex EBIT margin * excluding Extra ** New segment reporting structure 2009 Regional Sales Breakdown *** until 2003: EBITA Operating Statistics* Number of stores Selling space (1,000 sqm) 2,006 2,016 2,019 2,078 2,135 2,242 3,158 3,103 3,148 3,184 Change yoy in % 0.6% 0.5% 0.1% 3.0% 2.7% 5.0% 40.9% -1.7% 1.4% 1.1% Average store size (sqm) 7,267 7,279 7,262 7,192 6,977 6,835 7,145 7,150 7,171 7,220 Sales/Øsqm ( ) 4,058 4,165 4,063 4,005 3,884 3,743 3,250 3,515 3,723 3,569 Eastern Europe 24% 76% Germany 34

36 Media Markt and Saturn Financials ( million) Sales 7,619 8,341 9,583 10,563 12,210 13,306 15,156 17,444 18,993 19,693 Change yoy in % 24.0% 9.5% 14.9% 10.2% 15.6% 9.0% 13.9% 15.1% 8.9% 3.7% Change yoy in % - pre-currency 23.8% 9.1% 14.8% 11.0% 15.8% 8.5% 13.9% 14.2% 8.4% 5.5% Change yoy in % - lfl (LC) % 0.9% 4.6% -1.4% 3.0% 2.6% -2.1% -0.4% EBITDA Change yoy in % 17.9% -1.9% 17.0% 17.6% 20.8% 11.0% 14.4% 5.4% - 1.4% EBITDA margin 4.9% 4.4% 4.5% 4.8% 5.0% 5.1% 5.1% 4.7% 4.4% 4.3% EBIT* Change yoy in % 17.8% -16.1% 27.0% 24.3% 25.5% 12.8% 15.2% 3.9% - 0.8% EBIT margin 3.6% 2.7% 3.0% 3.4% 3.7% 3.8% 3.9% 3.5% 3.2% 3.1% Capital Employed RoCE % 76.4% Capex * until 2003: EBITA Operating Statistics Number of stores Selling space (1,000 sqm) ,129 1,307 1,514 1,704 1,914 2,213 2,439 2,633 Change yoy in % 16.9% 14.6% 15.6% 15.8% 15.8% 12.6% 12.3% 15.6% 10.2% 8.0% Average store size (sqm) 2,714 2,735 2,925 2,999 3,010 3,054 3,082 3,152 3,176 3,219 Sales/Øsqm ( ) 9,638 9,126 9,105 8,671 8,656 8,270 8,379 8,454 8,166 7,765 20,000 17,500 15,000 12,500 10,000 7,500 5,000 Sales and EBITDA Margin Ø+11.1% p.a Sales ( million) EBITDA margin 2009 Regional Sales Breakdown Eastern Europe 10% 46% Germany 7% 6% 5% 4% 3% 2% 1% 0% Western Europe 44% 35

37 Galeria Kaufhof Financials ( million) * 2009* Sales 3,941 3,971 3,900 3,819 3,768 3,575 3,609 3,556 3,607 3,539 Change yoy in % -1.5% 0.8% -1.8% -2.1% -1.3% -5.1% 0.9% -1.5% -1.1% -1.9% Change yoy in % - lfl 0.1% -3.7% -4.5% -2.2% -1.2% -4.8% -0.6% -1.7% -1.4% -2.2% EBITDA Change yoy in % 10.2% 7.9% -16.3% -14.7% -19.9% -5.4% 1.8% 10.0% - 0.2% EBITDA margin 8.2% 8.8% 7.5% 6.5% 5.3% 5.3% 5.3% 5.9% 6.2% 6.3% EBIT** Change yoy in % 10.5% 4.8% -26.8% -28.4% -43.6% 21.8% 18.1% 31.3% - 3.4% EBIT margin 4.6% 4.8% 3.6% 2.6% 1.5% 1.9% 2.3% 3.0% 3.2% 3.4% Capital Employed RoCE % 15.2% Capex * New segment reporting structure; since 2009 including Dinea ** until 2003: EBITA Operating Statistics Number of stores Selling space (1,000 sqm) 1,319 1,440 1,456 1,457 1,473 1,465 1,487 1,486 1,489 1,501 Change yoy in % 1.6% 9.1% 1.1% 0.1% 1.0% -0.5% 1.5% -0.1% 0.2% 0.7% Average store size (sqm) 9,995 9,728 9,706 9,847 10,018 10,318 10,473 10,539 10,567 10,645 Sales/Øsqm ( ) 3,011 2,879 2,693 2,622 2,572 2,434 2,445 2,392 2,363 2, Western Europe EBITDA and EBIT Margin % EBIT margin EBITDA 2009 Regional Sales Breakdown 5% 4% 3% 2% 1% 0% 91% Germany 36

38 Real Estate Financials ( million) EBITDA Change yoy in % - 3.4% EBIT Selling Space by Region Western Europe 33% Change yoy in % - 2.4% Capital Employed 8,856 8,690 RoCE 6.1% 6.3% Capex 1, Germany 23% 9% 35% Asia/Africa Eastern Europe 37

39 Long-Term Debt Maturity Profile Bonds million Issued Maturity Nom. Outstanding ( ) Currency Coupon 1,250 08/09/ /09/ ,000,000 EUR FRN 1,000 26/05/ /05/ ,000,000 EUR 4.625% 24/06/ /06/ ,000,000 EUR 3.625% /05/ /05/ ,000,000 EUR 4.750% /07/ /07/ ,800,000 RON % /11/ /11/ ,000,000 EUR 9.375% 14/07/ /07/ ,000,000 EUR 5.750% /03/ /03/2015 1,000,000,000 EUR 7.625% Promissory Notes (Schuldscheindarlehen) 22/02/ /02/ ,000,000 EUR 4.250% Bonds Refinancing already completed Dependency on bank financing further reduced Well-balanced maturity profile 38

40 Contact METRO GROUP Investor Relations Schlueterstrasse Duesseldorf Germany Tel.: +49 (0) Fax: +49 (0) Internet: investorrelations@metro.de 39