BERLIN — Negative currency and portfolio effects slightly decreased Metro AG’s sales in its fourth quarter and 2015-16 fiscal year, which ended Sept. 30.
The German wholesale, supermarket and electronics group said fourth-quarter sales dipped 0.5 percent to 14.2 billion euros, or $15.9 billion, in preliminary unaudited figures released on Wednesday. On a local-currency basis, sales increased by 0.2 percent, while like-for-like sales were flat versus the same prior-year period.
Dollar figures are converted at average exchange for the periods to which they refer.
Full fiscal-year sales for Metro Group were down 1.4 percent to 58.4 billion, or $64.9 billion, while sales in local currency rose 0.4 percent. Like-for-like sales, which were up 0.2 percent, met guidance for the period.
Olaf Koch, chairman of the management board of Metro AG, speaking of the full year said: “We made significant progress in transforming the company, and are now systematically focusing on customer value. This is also reflected in the positive development of our growth drivers online and delivery.”
Metro is in the midst of demerger plans, with the division into separate companies — a wholesale and food specialist, and a consumer electronic business — expected to be completed in mid-2017.
The company said it anticipated “pleasant Christmas business” and confirmed its guidance for fiscal year earnings before interest and taxes before special items, which was formerly forecast to be slightly above the previous, 2014-15 year’s figure of 1.51 million euros, or $1.73 million.
Finalized figures for Metro’s fiscal year 2015-16 will be released in its annual report on Dec. 14.