No profit for Metro in Q1
Because of disappointing European results and launching costs in Colombia, Metro International reports a loss of €1.6m in the first quarter of 2012 (-€2.2 in Q1 2011).
Net revenue of the company, however, increased by 4% to €47.2m (€45.2m in 2011).
Metro reports sales growth in Chile, Mexico and St Petersburg (EBIT margin of 29%). Also Brazil performed very well.
Sweden showed an EBIT margin of 11% (13% in Q1 2011) with a stable revenue. The margin in Denmark was -2% (+8% in 2011), while Holland dropped to -3% (+8% in 2011).
In the last case, the situation changed in 2012: “The free daily newspaper De Pers closed down their operation in March and Metro has taken over important elements of their distribution.”
Hong Kong also reported a minus (-1%), which is new for this edition. Net revenue went up, but the free daily competion in Hong Kong increased dramatically in 2011.