Metro Q3 results
Revenues of Metro International have increased in Q3 2011 by 13 percent to €42.0 million (€37.4 million in Q3 2010). The total result for Q3, however is down to a loss of €1.8 million – partly because of a provision of €2.8 million for a lawsuit in Spain. The Q3 2010 EBIT was €4.5 million.
Sales in Denmark increased during Q3, although there were flat sales in Sweden and a decline in sales in Holland. Operations in emerging markets continue to grow strongly with both Chile and Mexico recording double-digit growth. Increased competition in Hong Kong also affected results.
All operations except Holland (-€530,000) and the Czech Republic (-€264,000) showed a profit in Q3 2011. Also headquarters costs (€7 million) affected results negatively, management and administration costs went up to €4.9 million (€2.4 million Q3 2010) because of the Spanish lawsuit provision.