Metro Italy & Portugal about to be sold

Metro International announced  today that it is about to sell the Italian and Portuguese operations, the company:

is currently in advanced negotiations with potential partners in both Italy and Portugal which may lead to a partial or full divestment of these operations. These discussions are in line with Metro International’s global strategy to encourage consolidation in its European markets. For the full year 2008, the total losses in Italy and Portugal together amounted to EUR 2.5 million.

Metro also expects to report a loss in April and May 2009:

In April 2009, local currency sales for the Group declined by 18% (11% adjusting for Easter impact) against the same month last year to EUR 19.2 million (2008: EUR 23.8 million) excluding sales in Metro Spain which was closed down in January this year. The main part of the decline in sales was generated in the segments for Northern and Southern Europe. In April 2009, Metro International has recorded an EBIT loss of EUR 1.2 million (2008: EUR 0.6 million) excluding Metro Spain.

For the month of May 2009, Metro International forecasts that local currency sales for the Group will decline year-on-year by 9% to EUR 21.4 million (2008: EUR 23.4 million) excluding Metro Spain. The operating EBIT result for the Group in May 2009 is estimated to be EUR 0.2 million (2008: EUR 0.1 million) excluding Metro Spain.

2 Responses to “Metro Italy & Portugal about to be sold”

  1. Metro Italy & Portugal for sale | justlikeme.nl Says:

    [...] <!– /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:””; margin:0cm; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”; mso-fareast-font-family:”Times New Roman”;} @page Section1 {size:595.3pt 841.9pt; margin:70.85pt 70.85pt 70.85pt 70.85pt; mso-header-margin:35.4pt; mso-footer-margin:35.4pt; mso-paper-source:0;} div.Section1 {page:Section1;} –> Metro International announced  today that it is about to sell the Italian and Portuguese operations, the company is currently in advanced negotiations with potential partners in both Italy and Portugal which may lead to a partial or full divestment of these operations. These discussions are in line with Metro International’s global strategy … er is meer [...]

  2. Newspaper Innovation » Blog Archive » Unloading Italy Says:

    [...] is planning to sell their operations in Italy and Portugal, either in total or in part (see previous post). The graph (click on it for bigger picture) below, shows why Italy is such a difficult market for [...]