Metro AG · VIE:MEO2
Metro — Shareholder Meeting (February 2023)
27 slides from Metro's shareholder meeting presentation, Feb 24, 2023
Slide 1: Annual General Meeting METRO AG
Annual General Meeting METRO AG 24 February 2023
Slide 2: A Year of Progress
A YEAR OF PROGRESS Sustainable catch-up METRO achieves Visible progress in effects and growing record sales growth sCore execution industry 2 24 February 2023 © METRO AG. Annual General Meeting
Slide 3: Challenges Jointly Tackled
CHALLENGES JOINTLY TACKLED 3 24 February 2023 © METRO AG. Annual General Meeting
Slide 4: Raised Outlook Achieved
RAISED OUTLOOK ACHIEVED SALES1 Δ ADJ. EBITDA2 >20% +>€200m 1 Sales growth vs. PY at constant currency. 2 Delta adj. EBITDA vs. PY at constant currency. France, Nice, October 2022 4 24 February 2023 © METRO AG. Annual General Meeting
Slide 5: Non-Cash One-Offs Impact EPS
NON-CASH ONE-OFFS IMPACT EPS ADJUSTED TRANSFORMATION OTHER FINANCIAL EBITDA1 COST RESULT Mainly sale of the operating Primarily non-cash business in Belgium FX-effects €1,389m –€123m –€421m EPS -0.92 € No dividend payment in line with dividend policy 5 24 February 2023 © METRO AG. Annual General Mee
Slide 6: Share Price Development Impacted by External Events
SHARE PRICE DEVELOPMENT IMPACTED BY EXTERNAL EVENTS Rebased to 100 110 Share price 105 (Feb 22 – Feb 23) 100 Peer Group international1 95 METRO AG 90 SDAX 85 80 75 70 65 60 Feb 22 Mrz 22 Apr 22 Mai 22 Jun 22 Jul 22 Aug 22 Sep 22 Okt 22 Nov 22 Dez 22 Jan 23 Feb 23 PEER GROUP METRO SDAX Share price up
Slide 7: METRO Is on the Right Track
METRO IS ON THE RIGHT TRACK 5% CAGR1 Marketplace MULTI CHANNEL Customer App Online Ordering CUSTOMERS DIGITAL SOLUTIONS FOR CUSTOMERS Wholesale FSD Stores Out-of- Store GROWING MULTICHANNEL CULTURAL MARKET GROWTH STRATEGY TRANSFORMATION 1 Growth in out-of-home consumption in markets with METRO prese
Slide 8: Growing Market with Big Potential
GROWING MARKET WITH BIG POTENTIAL OUT-OF-HOME CONSUMPTION TOP 3 €1 TRN MARKET LESS THAN 5% CAGR 30% SHARE GROWING HIGH MARKETS 1 FRAGMENTATION 2 1 Sources: Oxford Economics, January 2022. CAGR 2010-2019. 2 Own analysis based on company publications and local market sources (GIRA, Alimarket, GV-Markt
Slide 9: Drive Consolidation
DRIVE CONSOLIDATION Acquisition of AGM in Austria concluded in FY 21/22 Acquisition of Günther Group concluded in August 2022 Takeover of 7 stores1, complementary to existing METRO business Expansion of METRO’s service portfolio by products and services for commercial Strengthening of the delivery b
Slide 10: FY 21/22: Multichannel Growth Strategy Works
FY 21/22: MULTICHANNEL GROWTH STRATEGY WORKS Transformation stores: +13% sales1 Grow FSD: +53% sales1 METRO Companion +>20% GERMANY 102 Roll-out METRO Markets: +110% sales1 WEST 233 Hospitality Digital: EAST RUSSIA 233 93 +53k new subscribers2 1 Figures vs FY 20/21. 2 Excluded 8k Eijsink subscribers
Slide 11: Extension of Our Digital Offering
EXTENSION OF OUR DIGITAL OFFERING ACQUISITION OF POINT OF SALE1 (POS) provider Eijsink EXTENSION OF DIGITAL SOLUTIONS for restaurateurs INTEGRATION into existing DISH system INTERNATIONAL ROLL-OUT into 2-3 countries p.a. planned 1 Point of Sale is a digital till system for restaurateurs. 11 24 Febru
Slide 12: Wholesale Focus Progressed
WHOLESALE FOCUS PROGRESSED SIMPLIFY ASSORTMENT GROW OWN BRAND FSD VOLUME-DRIVEN WHOLESALE PRICING DRIVE PRODUCTIVITY 12 24 February 2023 © METRO AG. Annual General Meeting
Slide 13: Investments into FSD
INVESTMENTS INTO FSD INVEST IN DELIVERY INFRASTRUCTURE Online Ordering GROW SALES FORCE Wholesale GROß- FSD GROW OWN BRAND Stores HANDELSMÄRKTE Out-of- OUT-OF- STORE Store DEVELOP MULTICHANNEL CUSTOMERS 13 24 February 2023 © METRO AG. Annual General Meeting
Slide 14: Marketplace Further Scaled
MARKETPLACE FURTHER SCALED GROW ASSORTMENT INVEST IN TECHNOLOGY IMPROVEMENTS Wholesale GROß- FSD Stores HANDELSMÄRKTE Out-of- OUT-OF- STORE IN 2022 START IN ITALY AND PORTUGAL Store ROLL-OUT TO 2-3 COUNTRIES P.A. 14 24 February 2023 © METRO AG. Annual General Meeting
Slide 15: Our sCore KPIs Meet the Expectations
OUR sCORE KPIs MEET THE EXPECTATIONS WHOLESALE VALUE MULTICHANNEL NETWORK PROPOSITION EXPERIENCE OPTIMISATION OWN BRAND SALES SHARE FSD SALES SHARE INVEST IN DEPOTS/OOS 19 % 21 % +2 DEPOTS >35 % until 2030 >33 % until 2030 +13 OOS STOCK AVAILABILITY DIGITAL SALES SHARE GROW SALES FORCE 95 % 9% +>800
Slide 16: We Confirm Our 2030 Ambition
WE CONFIRM OUR 2030 AMBITION 2030 GOALS >€3bn Marketplace Marketplace sales MULTI CHANNEL Customer App Online Ordering ~1.2x CUSTOMERS DIGITAL SOLUTIONS STORES sales FOR CUSTOMERS >3x Wholesale Stores FSD FSD sales Out-of- Store 16 24 February 2023 © METRO AG. Annual General Meeting
Slide 17: Externalities Jointly Managed
EXTERNALITIES JOINTLY MANAGED COVID: Customer support through initiatives SUPPLY CHAIN : Jointly manage volatility INFLATION: Competitive advantage through own brands and stores 17 24 February 2023 © METRO AG. Annual General Meeting
Slide 18: Exit from Belgium and India in Line with sCore Targets
EXIT FROM BELGIUM AND INDIA IN LINE WITH sCORE TARGETS BELGIUM INDIA Sale to Bronze Properties Agreement to divest METRO India signed and closed on 15 June ‘22 to Reliance signed on 21 December ‘22 Real estate portfolio (11 stores) Transaction comprises the op. business remains with METRO AG as well
Slide 19: We Confirm Our Sustainability Targets
WE CONFIRM OUR SUSTAINABILITY TARGETS ESG PRIORITIES CLIMATE & ETHICS & EQUALITY, INCLUSION CLIMATE & CARBON CARBON ETHICS & TRUST TRUST & WELLBEING Reduce emissions & waste Ethical & Transparent in ouremissions Reduce operations& and waste supply & Ethical chain, trusted Transparent “ONE METRO” cul
Slide 20: Cultural Transformation with Our METRO Fundamentals
CULTURAL TRANSFORMATION WITH OUR METRO FUNDAMENTALS WHOLESALE. EVERYWHERE. EVERY TIME. GROWTH IS KING. SPEED MATTERS. RESULTS COUNT. BASIS AND BASICS. WER WILL, DER KANN. NEVER STOP. NO FEAR. ONE METRO. 20 24 February 2023 © METRO AG. Annual General Meeting
Slide 21: 24 February 2023 © METRO AG. Annual General Meeting
21 24 February 2023 © METRO AG. Annual General Meeting
Slide 22: Our Employees Are Our Strength
OUR EMPLOYEES ARE OUR STRENGTH METRO as Support of Increase TOP-employer young talents share of women certified! early in their career! in leadership positions! 22 24 February 2023 © METRO AG. Annual General Meeting
Slide 23: Growth Momentum Continues
GROWTH MOMENTUM CONTINUES Q1 EFFECT Q1 REPORTED JANUARY CYBERATTACK Low triple SALES GROWTH 7% ~16% digit €m Mid to high Δ ADJ. EBITDA €-56m double digit €m Figures vs. Q1 PY; January vs January PY. France, Nice, October 2022 23 24 February 2023 © METRO AG. Annual General Meeting
Slide 24: Growth Investments Ramping Up
GROWTH INVESTMENTS RAMPING UP TECHNOLOGY NETWORK SUSTAINABILITY Roll-out marketplace Growth infrastructure Climate neutrality Digitalise operations ~€100m p.a. ~€200m p.a ~€100m p.a. 24 24 February 2023 © METRO AG. Annual General Meeting
Slide 25: FY 22/23: sCore Execution Leads to Significant Expected EPS Growth
FY 22/23: sCORE EXECUTION LEADS TO SIGNIFICANT EXPECTED EPS GROWTH Drive market Productivity gains & Big property share gains cost inflation development Normalization of D&A, net financial result, taxes Sales growth Adj. EBITDA decline 5-10% by €75-225 m ~€200 m gains (Oct `22) Normalization of D&A,
Slide 26: 24 February 2023 © METRO AG. Annual General Meeting
26 24 February 2023 © METRO AG. Annual General Meeting
Slide 27: 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