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Metro Group (ETR: MEO) 1Q16 Results: Earnings Slip on Weak Ruble

Executive Summary

  • Metro AG reported a decline of 7.2% in EBIT before special items, to €828 million, for 1Q16, missing the consensus estimate.
  • Group sales were down 1.3% in reporting currency, to €17.1 billion, while comps were marginally up at 0.1%.
  • The group maintains a positive outlook for FY16despite the challenging economic environment.

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