Metro Q1 results
Metro International increased net revenue by 16 percent to €56.5 million in the first quarter of 2011. The company still made a EDIT loss of €0.4 million, but this is much better than the loss of €3.7 million in Q1 2010. Net losses were €3.4 million in Q1.
Sweden and Denmark improved EBIT by €1.0 million each according to the Metro press release. French EBIT, however, showed a loss of €2.1 million as a result of increased competition. Another backdrop was the Swedish court ruling that Metro had to pay an advertising tax of €10.0 million.