Metro AG · VIE:MEO2
Metro — Shareholder Meeting (February 2022)
26 slides from Metro's shareholder meeting presentation, Feb 11, 2022
Slide 1: Annual General Meeting METRO AG
ANNUAL GENERAL MEETING METRO AG 11 February 2022
Slide 2: Dr. Steffen Greubel, Chief Executive Officer
DR. STEFFEN GREUBEL CHIEF EXECUTIVE OFFICER 2 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 3: 11 February 2022 © METRO AG Annual General Meeting 2022
3 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 4: METRO stands on a solid foundation
METRO STANDS ON A SOLID FOUNDATION Customers >17 Million Countries 34 Employees >95,000 Depots 67 Sales Force Digital Sales Share ~6,500 employees ~5% Stores 681 Own Brand Sales Share ~17% Figures as of 30.09.2021 incl. Japan and Myanmar 4 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 5: Share price development strongly impacted by pandemic
SHARE PRICE DEVELOPMENT STRONGLY IMPACTED BY PANDEMIC 120,0 Share Price (Feb 21 – Feb 22) 110,0 Peer Group international1 SDAX 100,0 METRO AG 90,0 80,0 19. Feb 21 21. Mrz 21 20. Apr 21 20. Mai 21 19. Jun 21 19. Jul 21 18. Aug 21 17. Sep 21 17. Okt 21 16. Nov 21 16. Dez 21 15. Jan 22 Share prices unt
Slide 6: Since June, METRO grows above pre-pandemic level
SINCE JUNE, METRO GROWS ABOVE PRE-PANDEMIC LEVEL Sales growth 2020/21 in % vs. 2018/191 Q1 Q2 Q3 Q4 +11% +10% +6% +6% -8% -10% -10% -15% Apr May Jun Jul Aug Sep 1 At constant currency, sum of countries 6 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 7: FY 2020/21 strong finish
FY 2020/21 Total sales Reported sales STRONG FINISH development2 (%) development (%) 0.0 -3.4 (-4.0) (-5.4) Adjusted EBITDA EBITDA3 (€m) total (€m) No dividend payout in line Sales (€bn) 1,171 1,166 with dividend (1,158) (1,113) 24.8 policy (45-55% Profit or loss for EPS (€)4 EPS) the period (€m)4 -
Slide 8: Upper end of the guidance range reached
UPPER END OF THE GUIDANCE RANGE REACHED Sales in % to PY1 EBITDA to PY2 Revised outlook +€50 m to FY 2020/21 -0.5% to -3.5% -€75 m to PY FY 2020/21 (excl. new acquisitions) -0.4% +€65 m to PY FY 2020/21 (incl. new acquisitions) 0.0% +€72 m to PY 1 At constant currency 2 Adj. EBITDA – EBITDA pre tran
Slide 9: Portfolio transformation further accelerated
PORTFOLIO TRANSFORMATION FURTHER ACCELERATED Acquisitions Exits Second biggest Portuguese FSD specialist Japan: Lack of prospects for profitable growth Sales €217m4 Sales €152m1 Adj. EBITDA -€9m4 Established FSD specialist in Spain with strong Myanmar: Worsening of political situation presence in Ba
Slide 10: For FY 2021/22 increasing sales dynamic expected
FOR FY 2021/22 INCREASING SALES DYNAMIC KURS GEHALTEN EXPECTED Oberes Ende der Prognose erreicht FY 2021/22 Relevant for outlook • Temporary and light government COVID Sales restrictions, especially in H1 of FY 3%-7% growth1 2021/22 • Growth drivers: HoReCa business, especially with FSD Adjusted • A
Slide 11: Continued strong performance in Q1
Total sales growth1 FSD growth CONTINUED STRONG PERFORMANCE IN Q1 19% 64% METRO Markets Adj. EBITDA2 (€m) sales ~3x 521 (PY: 376) EPS (€)3 FCF (€m)4 0.54 283 (PY: 0.27) (PY: -75) 1 At constant currency 2 Adj. EBITDA - EBITDA pre transformation costs, real estate gains 3 Attributable to METRO shareho
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Slide 13: Market trends provide for significant growth opportunity
MARKET TRENDS PROVIDE FOR SIGNIFICANT GROWTH OPPORTUNITY ~20%2 TOP 3 WITH LESS THAN 5% CAGR1 30% MARKET SHARE 3 GROWING CHANCES IN HIGH DEGREE OF MARKET DELIVERY FRAGMENTATION 1 Growth in out-of-home consumption in markets with METRO presence; Source: Oxford Economics, January 2022. CAGR 2010-2019 2
Slide 14: Multichannel business model
MULTICHANNEL BUSINESS MODEL SIGNIFICANT ADVANTAGES MORE EFFICIENT FOR MARKETPLACE CUSTOMERS ONLINE- CUSTOMER ORDERING APP IDEAL USE OF EXISTENT DIGITAL INFRASTRUCTURE SOLUTIONS FOR CUSTOMERS WHOLESALE FSD STORES OUT- SIGNIFICANT COMPETITIVE OF- STORE ADVANTAGE 14 11 February 2022 © METRO AG Annual G
Slide 15: Stores
Multikanal 2 STORES 681 Stores1 Focused assortment and expansion of Wholesale GROß- own brand share Stores HANDELSMÄRKTE OUT-OF- Out-of- STORE Store Repurposing of space for out-of-store delivery 1 as of 30.09.2021 incl. Japan und Myanmar 15 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 16: Delivery (FSD)
DELIVERY (FSD) 563 stores with out-of-store delivery und 67 dedicated delivery depots1 Increase of sales force Wholesale GROß- Stores HANDELSMÄRKTE FSD OUT-OF- Out-of- STORE Store Expansion of delivery business as share of total sales 1 as of 30.09.2021 incl. Japan und Myanmar 16 11 February 2022 ©
Slide 17: Digital marketplace
DIGITAL MARKETPLACE Marketplace >600T products and >900 partner Currently in Germany and Spain Wholesale GROß- Stores FSD HANDELSMÄRKTE OUT-OF- Out-of- STORE Store Expansion to 2-3 countries per year 17 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 18: Digitalise operations
DIGITALISE OPERATIONS Efficient procurement in store with the Marketplace M.Companion customer app Customer Customer Online App App Ordering Online-Ordering of goods for delivery-customers via M.Shop Wholesale GROß- Stores FSD HANDELSMÄRKTE OUT-OF- Out-of- STORE Store Significant increase in custome
Slide 19: Digital DISH products
DIGITAL DISH PRODUCTS DISH as digital solution for core Marketplace processes of customers Customer Online App Ordering Strengthening of customer loyalty DIGITAL SOLUTIONS FOR CUSTOMERS Wholesale GROß- Stores FSD HANDELSMÄRKTE OUT-OF- Out-of- STORE Store High expansion focus 19 11 February 2022 © ME
Slide 20: 2030 Ambition
2030 AMBITION >€3bn Marketplace Marketplace sales Customer Online ~1.2x App Ordering >3x DIGITAL Store sales SOLUTIONS FOR Wholesale CUSTOMERS Stores FSD FSD sales Out-of- Store Multiples in comparison to FY20/21 20 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 21: 3 priorities for a sustainable future
3 PRIORITIES FOR A SUSTAINABLE FUTURE CLIMATE NEUTRALITY ASSORTMENT FOOD WASTE 21 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 22: We invest in growth
WE INVEST IN GROWTH ~€100m p.a. TECHNOLOGY ROLL-OUT MARKETPLACE DIGITALISE OPERATIONS ~€200m p.a. Temporary doubling of growth investments NETWORK GROWTH INFRASTRUCTURE ~€100m p.a. SUSTAINABILITY CLIMATE NEUTRALITY 22 26/01/2022 © METRO AG
Slide 23: Shaping the growth trajectory
SHAPING THE GROWTH TRAJECTORY INVEST (FY22-25) 2030 AMBITION SALES +3-5% CAGR1 >€40bn EBITDA +3-5% CAGR1 >€2bn CASH INV (% SALES) <2.5% <1.5% FREE CASH FLOW re-invest into growth >€0.6bn NET DEBT / EBITDA decrease to ~2.5x <2.5x At constant FX, constant portfolio 1Compound Annual Growth Rate 23 11 F
Slide 24: Leadership team for growth strategy
LEADERSHIP TEAM FOR GROWTH STRATEGY Steffen Greubel Christian Baier Rafael Gasset Claude Sarrailh Andrea Euenheim Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Commercial and Chief Human Merchandise Officer Resources Officer and Labor Relations Director 24 11 February
Slide 25: Our values
OUR VALUES PEOPLE PARTNERSHIP SUSTAINABILITY 25 11 February 2022 © METRO AG Annual General Meeting 2022
Slide 26: Disclaimer and legal notice
DISCLAIMER AND LEGAL NOTICE This presentation and the speech accompanying it relates are intended solely and exclusively for information only, do not constitute a prospectus or similar document, and shall not be treated as investment advice. The information contained herein is presented in summary f