Metro shares slide after Q3 miss as cost inflation bites

Metro AG

11/08/2023 08:52

** Shares in Metro  B4B.DE  slide 2.1% after the German
wholesale retailer reported its Q3 results below expectations,
hit by growing costs
    ** Metro posts quarterly sales of 7.6 bln euros ($8.35
billion), down 3.4% y/y, with adj EBITDA at 332 mln euros, down
24.7% y/y
    ** Sales missed analyst expectations by the range of 6-9%,
while adjusted EBITDA was 7-8% below estimates, according to
Baader Helvea
    ** "Metro had to deal with higher expenses (cost inflation)
for material, logistics, personnel and others," Baader says
    ** It adds the adj EBITDA decline is due to the expiry of
post-transaction effects and licence revenues from the
partnership with Wume, as well as the development in Germany and
further development Russia
    ** "Mild negative, even though shares slightly gained in
extended trading after news" a local trader says
    ** The stock is among worst performers on Germany's
small-cap index  .SDAXI 


($1 = 0.9101 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))