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Metro AG (0RTE.L)

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29,442,000,896.00+7.16 (+0.00%)
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  • EQS Group

    METRO AG raises outlook for FY 2020/21 following strong development of Horeca business since ease of restrictions

    METRO AG / Key word(s): Forecast/Change in ForecastMETRO AG raises outlook for FY 2020/21 following strong development of Horeca business since ease of restrictions27-Jul-2021 / 19:22 CET/CESTDisclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The Management Board of METRO AG (METRO) has decided to increase its outlook for sales and EBIT

  • Yahoo Finance

    Amid post-COVID boom, IT company Wipro invests $1 billion in cloud services

    India-based global information technology, consulting, and business process services company Wipro announced its commitment to invest $1 billion in cloud capabilities. This announcement comes amid a post-pandemic boom in adoption of cloud platforms by companies around the world.

  • EQS Group

    METRO sales and earnings development in the first half of 2020/21 within guidance expectation - Update of guidance for the financial year 2020/21 due to longer regulatory measures related to Covid-19

    METRO AG / Key word(s): ForecastMETRO sales and earnings development in the first half of 2020/21 within guidance expectation - Update of guidance for the financial year 2020/21 due to longer regulatory measures related to Covid-1920-Apr-2021 / 19:54 CET/CESTDisclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.According to preliminary figures for the first half of the 2020/21 financial year, total sales in local currencies decreased by -11.5% vs. the previous year, while EBITDA adjusted (excluding transformation costs and earnings contributions from real estate transactions) amounted to approximately EUR 490 million. Adjusted for currency effects that equals a decline of EUR -120 million vs. previous year. This development is well in line with guidance expectations for the first half of the 2020/21 financial year.Nonetheless, the Management Board of METRO AG (METRO) has decided to update its guidance for the financial year 2020/21. The decisive exogenous factor is the continuous prolongation and a high volatility of regulatory measures related to Covid-19. These measures continue to significantly restrict public life in many of the METRO countries. METRO had assumed that re-openings of hospitality businesses would be starting in April at the latest. This appears no longer realistic on a broad scale before June. The Management Board, however, is still convinced of the fast and substantial recovery of the hospitality and tourism industry upon release of the governmental restrictions and has seen evidence of this in the countries where hospitality businesses have been reopened partially or in full.A first half of the financial year 2020/21 in line with expectations, prolonged lockdowns coupled with unclear reopening dates and a positive outlook on the hospitality industry once re-openings can take place, leads to an updated guidance range. Based on the updated assumption of hospitality re-openings broadly between June and August, METRO now expects- Sales (both total sales and like-for-like) decline by approximately -3% to -6% to previous year (previously: slightly below previous year)- EBITDA adjusted decline by roughly EUR -50 million to EUR -175 million to previous year (previously: decline by mid double-digit EUR million amount)The outlook assumes stable exchange rates and no further adjustments to the portfolio. The sensitivity of sales and earnings to the duration and severity of governmental restrictions is the highest for hospitality driven regions, esp. in the segment Western Europe. In contrast, the segments Russia and Asia are expected to perform better than the group.Increased cost efficiency and proven measures support the operating business. A continuous resilient development with Trader and SCO customers further allows to partly compensate the impact on the hospitality customers. Considering the strong financial profile, the proven competitive position and the comprehensive digital footprint, METRO is well positioned to benefit from the upcoming recovery.The H1 2020/21 half-year report will be published as scheduled on May 4, 2021 at 6:30pm, followed by an analyst conference call on May 5, 2021 at 8:45am.Contact:METRO AGSabrina LeyDirector Investor Relations20-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: METRO AG Metro-Straße 1 40235 Dusseldorf Germany Phone: +49 (0)211 6886-1524 Fax: +49 (0)211 6886-3759 E-mail: investorrelations@metro.de Internet: www.metroag.de ISIN: DE000BFB0019, DE000BFB0027 WKN: BFB001, BFB002 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1186866 End of Announcement DGAP News Service