MADE TO TRADE. Sanford C. Bernstein Strategic Decisions Conference 2 October 2013 London METRO AG 2013 2 October 2013 METRO AG 2013 0
Disclaimer and Notes To the extent that statements in this presentation do not relate to historical or current facts, they constitute forward-looking statements (including within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended). All forward-looking statements herein are based on certain expectations and assumptions at the time of publication of this presentation and are subject to risks and uncertainties that could cause actual results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this presentation. Many of these risks and uncertainties relate to factors that are beyond METRO GROUP s ability to control or estimate precisely. The risks and uncertainties to which these forward-looking statements may be subject, include (without limitation) future market and economic conditions, the behaviour of other market participants, the ability to successfully transform the business model of METRO Cash & Carry, reorganise the management structure of METRO Cash & Carry, invest in innovative sales formats, expand in online and multichannel sales activities, integrate acquired businesses and achieve anticipated cost savings and productivity gains, and the actions of government regulators. Readers are cautioned not to place reliance on these forward-looking statements. METRO GROUP does not undertake any obligation to publicly update any forward-looking statements or to conform them to events or circumstances after the date of this presentation. This presentation is intended for information only. It is not intended as an offer for sale, or as a solicitation of an offer to purchase, any securities in any jurisdiction. This presentation may not be reproduced, distributed or published without prior written consent of METRO AG. All numbers are before special items, unless otherwise stated. Please note that new accounting standards have been applied. More information regarding the application of accounting methods, refer to the notes to the Annual Report 2012. Since 1 January 2013, it is mandatory to apply the revised IAS 19. The previous option granted for actuarial gains and losses from defined benefit pension plans, which allowed these amounts to be recognised either immediately in the income statement, directly in equity or according to the so-called corridor method, has been abolished. The revised IAS 19 only allows for actuarial gains and losses to be recognised immediately in equity ( other comprehensive income ). The amounts collected in equity remain there and will not be reclassified to the income statement in subsequent periods. As a result, the income statement will in future remain unaffected by actuarial gains and losses. As METRO AG used the corridor method in the past, this resulted in a change of method. Another change concerns the fact that, in future, expected returns on plan assets will be determined using the discount rate used to measure the pension obligations. In addition, past service costs will in future be recognised fully in profit or loss during the period in which the respective plan changes were effected. The consolidated financial statements have been prepared in euros. All amounts are stated in million euros ( million) unless otherwise indicated. Amounts below 0.5 million are rounded and reported as 0. In contrast to the practice of past years, only the amounts in the income statement, the reconciliation from profit or loss for the period to total comprehensive income, the balance sheet, the statement of changes in equity and the cash flow statement were rounded to produce the respective totals. In all other tables, the individual amounts and the totals were rounded separately. This may entail rounding differences. 2 October 2013 METRO AG 2013 1
Overview METRO at a Glance 3 Strategic Priorities 7 Four Market Leading Sales Lines 10 Performance in Q2 & Outlook 2013 19 METRO A Compelling Investment 22 2 October 2013 METRO AG 2013 2
Fourth Largest Retailer Worldwide in 2012 Sales: 66.7bn EBIT: 2.0bn Cash Flow: 2.3bn Stores: 2,243 Countries: 32 Employees: 280,000 / 180 nations 2 October 2013 METRO AG 2013 3
4 OpCos, 1 PropCo* & 1 Strategic Management Holding METRO AG The world s leading player in the cash & carry sector One of the leading operators of hypermarkets in Germany Europe s No. 1 consumer electronics retailer One of Europe s leading department store operators The most international portfolio in retail and wholesale 2012 Sales Share 2012 EBIT Share** * As of 01/10/2013 no separate real estate segment reporting ** Pre Other and consolidation 2 October 2013 METRO AG 2013 4 4
Strong International Presence Germany Western Europe Eastern Europe Asia/Africa METRO GROUP Countries 1 11 14 6 32 2012 Sales Share 2012 EBIT Share 38% 30% 27% 5% 100% 26% 33% 43% -2% 100% We generate nearly one third of Group sales and more than 40% of total earnings in emerging markets 2 October 2013 METRO AG 2013 5
Overview METRO at a Glance 3 Strategic Priorities 7 Four Market Leading Sales Lines 10 Performance in Q2 & Outlook 2013 19 METRO A Compelling Investment 22 2 October 2013 METRO AG 2013 6
Strategic Priorities: Customer Centricity & Business Excellence Customer Centricity Business Excellence Our Goal: Long-term value creation for METRO s stakeholders 2 October 2013 METRO AG 2013 7
Active Portfolio Management in 2012 All shares of MAKRO UK and 30 freehold properties were sold on a debt- and cash-free basis to Booker (closed on 4 July 2012) for a 9.08% stake in issued share capital of Booker and 15.8m in cash Sale of Real s complete activities in Eastern Europe (excluding Turkey), including real estate for an enterprise value of 1.1bn to Groupe Auchan Discontinuation of Media Markt in China after the two-year test phase expired in December 2012 and closure of all stores as per beginning of March 2013 Transforming the Group further and focusing on what really matters 2 October 2013 METRO AG 2013 8
Overview METRO at a Glance 3 Strategic Priorities 7 Four Market Leading Sales Lines 10 Performance in Q2 & Outlook 2013 19 METRO A Compelling Investment 22 2 October 2013 METRO AG 2013 9
The World s Leading Player in the Cash & Carry Sector Focused on B2B self-service wholesaling to HoReCa, Trader and SCO customer groups High performance internationally replicable concept Matchless emerging markets footprint: International share of sales over 80% 743 stores in 29 countries, of which 8 focus countries Profitable Growth Drivers: USP: Outstanding freshness & quality in food Business model transformation Dedicated sales force Innovative store concepts 2.2bn delivery sales 5.3bn own brand sales Expansion focus on Russia, China and Turkey million 2011 2012 Sales 31,121 31,636 EBIT 1,148 947 EBIT Margin 3.7% 3.0% RoCE 19.0% 15.7% 2 October 2013 METRO AG 2013 10
Strategic Ambitions Overall Ambition: Market leadership through unique product ranges and strong focus on B2B solutions that make our customers more competitive. Stronger overall customer focus Further expansion of franchise solutions for Traders Ongoing country and store portfolio review Further organic expansion centred on high-growth countries Strong push in delivery sales, driven by enlarged field force Grow own brand sales, especially in light of challenging macro Trialling new non-food concepts in Germany Improving core operations 2 October 2013 METRO AG 2013 11
Europe s No. 1 in Consumer Electronics Retailing Pan-European market leader with 935 stores in 15 countries Large-scale, full assortment store base with entrepreneurial store managers Very competitive EDLP pricing strategy Innovative merchandising and marketing concepts Profitable Growth Drivers: Business model transformation Multichannel sales activities in 9 countries 0.8bn online sales www.saturn.de and www.mediamarkt.de with c.23 / c.34 million site visits per month Four own brands Expansion focus on Russia and Turkey million 2011 2012 Sales 20,604 20,970 EBIT 542 326 EBIT Margin 2.6% 1.6% RoCE 21.5% 16.0% 2 October 2013 METRO AG 2013 12
Strategic Ambitions Overall Ambition: Superior shopping experience in consumer electronics, best offer, service and price for our customers in our stores and online. Continue implementation of strategic transformation Ensure price competitiveness / leadership Continuously enhance value proposition regarding assortment and service including online services (Juke, Video on demand) Optimise sourcing approach Intensifying online activities: 10% of sales expected by the end of 2015 30,000 SKUs to be available in Germany by the end of 2013 2 October 2013 METRO AG 2013 13
Leading Operator of Hypermarkets in Germany Following the divestment of activities in Eastern Europe (ex Turkey) focus will be on Germany with 312 stores Food accounts for approx. 75% of sales Comprehensive product range of 80,000 different articles Member of Germany s leading loyalty card programme PAYBACK Profitable Growth Drivers: Business model transformation 13.2% own brand sales share with almost 5,000 products (TiP, Real Quality, Real Bio, Real Selection) Entrepreneurial store management Multichannel: Webshop www.realonlineshop.de with more than 10,000 products; Drive concept million 2011 2012 Sales 11,032 11,017 EBIT 134 102 EBIT Margin 1.2% 0.9% RoCE 5.6% 5.3% 2 October 2013 METRO AG 2013 14
Strategic Ambitions Overall Ambition: Unique choice and quality in food retail complemented by a compelling non-food range. Well-adjusted to serve our key customer groups. Enhanced through multichannel. Formation of regional management structure to drive repositioning at lower cost Increased execution discipline through regional management team Better adaption to local/regional markets through customised advertising and regional assortments Rollout of >650 concepts modules with focus on categories with strong differentiation potential Marketing mix complemented by events and professional campaigns 2 October 2013 METRO AG 2013 15
One of Europe s Leading Department Stores Concept and systems leader in Germany and market leader in Belgium with 137 stores in total Powerful international product ranges and high-quality own-brand products Strong cost and stock management 19% own brand share Optimisation of space allocation (consumer electronics vs apparel and accessories) Profitable Growth Drivers: Focus on mid-market and lifestyle orientation (sharper brand and own brand portfolio) Consistent trading-up strategy Multichannel: Webshop www.galeriakaufhof.de with >50,000 products New category management based on loyalty card data million 2011 2012 Sales 3,119 3,092 EBIT 121 136 EBIT Margin 3.9% 4.4% RoCE 10.6% 12.2% 2 October 2013 METRO AG 2013 16
Strategic Ambitions Overall Ambition: Concept leadership for department stores in Germany and Belgium. Absolutely customer-driven providing a meaningful and compelling offer for our customers. Consequent deployment of multichannel strategy: Extend multichannel services, product range enlargement and intensified advertising measures Continue to optimise assortment following customer insights Strengthen own brand presence Continue to optimise in-store space allocation and visual merchandising Selective modernisation of stores Further extension of premium brand listing 2 October 2013 METRO AG 2013 17
Overview METRO at a Glance 3 Strategic Priorities 7 Four Market Leading Sales Lines 10 Performance in Q2 & Outlook 2013 19 METRO A Compelling Investment 22 2 October 2013 METRO AG 2013 18
Q2 2013 Highlights Sales grew by 0.1% (adjusted for portfolio changes and FX) despite difficult consumer environment Sales Development in million 2012 2013 19.359 Real Russia closed Market share gains in many countries 15.647 15.846 15.887 15.499 15,282 Transformation progress continued: Own brand sales share: 12.1% (+40bp) Delivery sales: 0.7 billion (+22%) Q1 Q2 Q3 Q4 Q1 Q2 Online sales: 0.3 billion (+89%) Solid EBIT development: 362 million EBIT after special items EBIT in million 2012 2013 1,273 276 million EBIT before special items Significant net debt and cash flow 315 399 276 improvement Sales and EBIT guidance confirmed 14-8 Q1 Q2 Q3 Q4 Q1 Q2 2 October 2013 METRO AG 2013 19
Outlook for Stub Year 2013 (9M) Confirmed milllion H1 2012 H1 2013 9M 2012 Stub FY 2013 E Sales growth (in %) 1 0.1 - >0 EBIT before special items 307 2 290 706 2 >706 3 Capex 555 297 954 <954 Net debt (in billion ) -8.2-6.3 7.7 <7.7 New store openings (number of) 32 22 40 30-40 1 Adjusted for sale of MAKRO UK, Real Eastern Europe and Media Markt China 2 Adjustment resulted from the first-time adoption of the revised IAS 19 3 Incl. higher contribution from real estate gains vs 9M 2012 Despite challenging economic environment we remain on track to achieve our targets 2 October 2013 METRO AG 2013 20
Overview METRO at a Glance 3 Strategic Priorities 7 Four Market Leading Sales Lines 10 Performance in Q2 & Outlook 2013 19 METRO A Compelling Investment 22 2 October 2013 METRO AG 2013 21
METRO A Compelling Investment Leading market positions in wholesale & retail Unique emerging markets footprint Strong focus on customer centricity Growing multichannel activities Clear strategy of sustainable profitable growth Generating high cash flow and further strengthen balance sheet Valuable real estate asset backing 2 October 2013 METRO AG 2013 22
MADE TO TRADE. Appendix 2 October 2013 METRO AG 2013 23
METRO Cash & Carry: Q2 Quarter-on-quarter improvement in LFL sales growth Sequential sales trend improvement in both Western and Eastern Europe Considerable LFL sales improvement in big countries like France, Spain and Turkey Delivery sales increased by 22% Like-for-Like Sales Development 2012 2013 2.0% -0.3% -0.1% -0.4% -0.9% -1.7% Q1 Q2 Q3 Q4 Q1 Q2 Delivery Sales in million Own brand shares constituted more than 17% of total sales 504 2012 2013 675 554 588 552 586 Initiated cost savings mostly compensated the price investments and sales-related EBIT Q1 Q2 Q3 Q4 Q1 Q2 decline 1 new store opening in China More than 5,800 franchise traders supported in Eastern Europe 2 October 2013 METRO AG 2013 24
Strategic Update: METRO Cash & Carry Germany Clear approach to customer target groups (TGM) Implementing organisational transition: Empowering the right people Optimising the store base Introducing new food product ranges with strong focus on HoReCa Non-food to become much more focused and different: New management structure with common strategy and greater range standardisation approach Radical clearance of non-strategic stock to better merchandise the sales space Düsseldorf store trial 2 October 2013 METRO AG 2013 25
Real: Q2 Sales decline also due to sale of Real Russia and Ukraine; Germany was impacted by earlier Easter business and strike action 3.5% Like-for-Like Sales Development 2012 2013 Own brand sales share in Germany improved by 90bp to 16.5% -0.3% -1.0% -1.6% -0.5% More than 30 stores now under an -4.6% entrepreneurial management approach Q1 Q2 Q3 Q4 Q1 Q2 Considerable price investments in Germany and the missing Russian EBIT contribution led to earnings shortfall Like-for-Like Sales Development Germany 4.8% 2012 2013 18 stores disposed of resp. closed 1.5% 1.5% (17 Russia, 1 Germany) -0.7% -1.7% -2.5% Q1 Q2 Q3 Q4 Q1 Q2 2 October 2013 METRO AG 2013 26
Deal Update: Real Eastern Europe 1.1 billion enterprise value Three of four countries now successfully closed: Ukraine on 13/03/2013, Russia on 25/04/2013, Romania on 12/09/2013 Closing Poland expected in H2 2013 In H1 2013: 137 million EBIT contribution (classified as special item); total estimated EBIT effect from transaction of 40-50 million confirmed Other financial result and deferred taxes negatively affected by technical oneoff effects from the deconsolidation 1 billion reduction in rating-relevant net debt:* (total relief of 1.5 billion confirmed) 0.3 billion finance lease relief + 0.6 billion cash-in + 0.1 billion operating lease relief * according to S&P methodology 2 October 2013 METRO AG 2013 27
Media-Saturn: Q2 Media-Saturn faced tough comps which included the UEFA EURO 2012 as well as the digital switchover in Germany In Western Europe, sales trend improved quarter-on-quarter Further dynamic growth in online sales Redcoon with more than 30% sales growth since new ad campaign began Decline in EBIT solely due to further price investments to successfully gain market shares 8 new store openings and 2 stores closed LFL Sales Development 2012 1.7% 2013-1.4% -3.1% -2.4% -3.1% -3.0% Q1 Q2 Q3 Q4 Q1 Q2 Online Sales ( million) 2012 2013 275 281 284 175 147 158 Q1 Q2 Q3 Q4 Q1 Q2 LFL Sales Development Germany 2012 2013 6.8% 3.1% 3.4% -3.7% -2.1% -1.8% Q1 Q2 Q3 Q4 Q1 Q2 2 October 2013 METRO AG 2013 28
Strategic Update: Media-Saturn Online sales in H1 2013 grew by 76% and reached nearly 6% of total sales Multichannel sales overtook for the first time Online Only sales Accelerated online sales growth in Q2 in Germany, Spain, Sweden, Switzerland and Poland in particular Online share of total sales (in %) Electro/Electricals panel market* vs Media Markt/Saturn** May 2013 cum, %-chg. vs PY, local currencies Market position 2012 2013 %-points Austria 1 24.0% 23.5% -0.4% Belgium 1 11.7% 13.7% 2.0% Germany 1 16.0% 17.1% 1.1% Greece 2 9.6% 10.5% 0.9% Hungary 1 13.0% 11.8% -1.2% Italy 1 13.7% 13.4% -0.3% Luxembourg 1 26.2% 26.7% 0.5% Netherlands 1 18.4% 17.6% -0.8% Poland 1 13.2% 13.3% 0.1% Portugal 4 7.5% 7.2% -0.3% Russia 4 3.4% 3.6% 0.2% Spain 1 11.5% 13.0% 1.6% Sweden 3 9.2% 9.8% 0.6% Switzerland 2 13.7% 12.8% -0.9% Turkey 3 4.5% 4.1% -0.4% * Retail panel sales including VAT/sales tax both for panel market and MSH. Panel market including brown and white goods, Information Technology, TELCO, Photo, Office Equipment, excluded boxed entertainment (e.g. CD, DVD/Blue Ray) ** Media-Saturn including Redcoon and other online sales if applicable Source: GfK 2 October 2013 METRO AG 2013 29
Galeria Kaufhof: Q2 Market leadership now also attained in Germany Notable LFL sales growth of 0.6% Like-for-Like Sales Development 2012 2013 2.8% Online sales more than doubled Market share gains despite tough 0.1% 0.9% 0.6% weather conditions and Easter effect -1.9% -2.8% Q1 Q2 Q3 Q4 Q1 Q2 2 October 2013 METRO AG 2013 30
Q2 Sales and EBIT by Division Sales Like-for-Like EBIT Change million Q2 2013 Change Q2 2013 Change million METRO Cash & Carry 7,716-3.0% -0.9% 241-2.5% -6 Real 2,360-11.5% -4.6% -2 - -19 Media-Saturn 4,525-0.3% -3.0% -94-60.4% -35 Galeria Kaufhof 679-1.0% 0.6% 4 >100% 3 Real Estate - - - 151 3.3% 5 Others 3-51.7% - -19 46.5% 17 Consolidation - - - -3 >-100% -2 METRO GROUP 15,282-3.6% - 276-12.4% -39 METRO Cash & Carry: LFL sales trend improved in both Western and Eastern Europe despite still tough trading conditions, especially for non-food Real: German LFL sales burdened by earlier Easter and strike activities Media-Saturn: Tough UEFA EURO comp in Germany, sequential improvement in Western Europe continued Galeria Kaufhof: Further LFL sales growth in Germany; market leadership attained Real Estate: 3 portfolio transactions in Germany and Turkey supported EBIT development Others: Enhanced cost savings led to significant improvement year-on-year 2 October 2013 METRO AG 2013 31
Income Statement (After Special Items) million Q2 2012 1 Q2 2013 Change Other operating income 412 557 35.1% EBIT 71 362 >100% Net financial result -138-221 -60.6% EBT -67 141 - Income taxes 41-126 - Profit or loss for the period -26 15 - Profit or loss attributable to shareholders of METRO AG -18 33 - EPS in (basic = diluted) -0.06 0.10-1 Adjustment resulted from the first-time adoption of the revised IAS 19 Special item: Net financial result 36 million decline in other financial result due to negative FX effects resulting from the deconsolidation of Real in Russia 2 October 2013 METRO AG 2013 32
Income Statement (Before Special Items) million Q2 2012 1 Q2 2013 Change General administrative expenses -354-324 8.5% EBIT 315 276-12.4% Net financial result -138-184 -33.6% EBT 177 92-48.2% Income taxes -71-91 -28.8% Profit or loss for the period 106 1-99.4% Non-controlling interests -7-18 >-100% EPS in (basic = diluted) 0.34 0.06-83.4% 1 Adjustment resulted from the first-time adoption of the revised IAS 19 Net financial result: Decline in other financial result due to unfavorable currency movements predominantly in Poland, Russia, the Czech Republic and Turkey Decline in non-controlling interests due to EBIT decline at Media-Saturn 2 October 2013 METRO AG 2013 33
Other Key Financials million 30/06/2012 30/06/2013 Change Net debt -8,206-6,319 23.0% Net working capital -1,693-1,825 7.8% Cash flow from operating activities -2,913-2,630 9.7% Cash flow from investing activities -449 523 - Capex (YTD) 555 297-46.5% Number of new store openings (YTD) 28 22-21.4% Significant net debt reduction of 1.9 billion to 6.3 billion Net working capital improvement of 132 million Increase in cash flows from: Operating activities: 283 million Investing activities: 972 million More focused capex: 22 new store openings, thereof 17 in emerging markets 34 stores closed or sold 2 October 2013 METRO AG 2013 34
Portfolio Optimisation and Efficiency Measures million H1 2012 H1 2013 million Portfolio Optimisation Measures -178 128 306 Exit Real Eastern Europe (ex TR) - 137 - Kaufhof - -15 - Others - 6 - Efficiency-Enhancing Measures -68 7 75 Others (including Praktiker) - -61 - Total Special Items (EBIT) -244 74 318 2 October 2013 METRO AG 2013 35
Number of Stores by Division and Country METRO Cash & Carry Real Media-Saturn Galeria Kaufhof METRO GROUP Q2 H1 30/06/13 Q2 H1 30/06/13 Q2 H1 30/06/13 Q2 H1 30/06/13 Q2 H1 30/06/13 Germany 107-1 -2 310 +1 +1 405 122-1 944 Austria 12 47 59 Belgium +1 13 22 15 +1 50 Denmark 5 5 France 93 93 Italy 49 115 164 Luxemburg 2 2 Netherlands 17 +1 +1 42 +1 +1 59 Portugal 10 9 19 Spain 37-3 70-3 107 Sweden +1 +1 29 +1 +1 29 Switzerland -1-1 26-1 -1 26 Western Europe +1 236 +1-2 362 15 +1-1 613 Bulgaria 14 14 Croatia 7 7 Czech Republic 13 13 Greece 9 10 19 Hungary 13 21 34 Kazakhstan 8 8 Moldova 3 3 Poland 41 +4 57 +2 65 +6 163 Romania 32 24 56 Russia +1 69-17 -17 1 +2 +3 48-15 -13 118 Serbia 10 10 Slovakia 6 6 Turkey 27 12 +2 +5 33 +2 +5 72 Ukraine 33-2 -2 33 Eastern Europe +1 285-17 -15 94 +4 +10 177-13 -4 556 China +1 64-7 +1-7 64 Egypt 2 2 India +1 15 +1 15 Japan 9 9 Pakistan 9 9 Vietnam 19 19 Asia/Africa +1 +1 118-7 +1-6 118 Total +1 +3 746-18 -17 404 +6 +2 944 137-11 -12 2,231 2 October 2013 METRO AG 2013 36
2012 Restated due to IAS 19 million Q1 2012 Q2 2012 6M 2012 Q3 2012 9M 2012 Q4 2012 FY 2012 Net sales 15,647 15,846 31,493 15,887 47,380 19,359 66,739 Cost of sales -12,504-12,586-25,090-12,588-37,678-15,091-52,769 Gross profit on sales 3,143 3,260 6,403 3,299 9,702 4,268 13,970 Other operating income 326 412 738 370 1,108 556 1,664 Selling expenses -3,052-2,991-6,043-2,916-8,958-3,152-12,110 General administrative expenses -412-354 -766-337 -1,104-361 -1,465 Other operating expenses -13-12 -25-17 -42-38 -80 EBIT -8 315 307 399 706 1,273 1,979 thereof METRO Cash & Carry -25 247 222 238 459 492 951 Real -23 17-6 2-4 106 102 Media-Saturn -20-59 -79 73-6 332 326 Galeria Kaufhof -24 1-23 -2-24 160 136 Real Estate 136 146 282 128 411 241 652 Others -53-36 -89-35 -124-44 -168 Consolidation 1-1 0-5 -5-15 -20 Result from associated companies 1 2 2 0 2 0 2 Other investment result 0 0 0 3 3 12 15 Interest income 33 38 71 33 104 27 130 Interest expenses -162-169 -330-169 -499-178 -677 Other financial result 6-9 -3-25 -28 13-13 Net financial result -122-138 -260-158 -418-126 -543 EBT -130 177 47 241 288 1,147 1,436 Income taxes 51-71 -19-103 -123-582 -706 Profit or loss for the period -79 106 28 138 165 565 730 Profit or loss for the period attributable to non-controlling interests 1-7 -5 11 5 93 98 Profit or loss for the period attributable to shareholders of METRO AG -80 113 33 127 160 472 632 EPS in (basic = diluted) -0.24 0.34 0.10 0.39 0.49 1.44 1.93 2 October 2013 METRO AG 2013 37
Contact Investor Relations Metro-Straße 1 40235 Düsseldorf Germany Tel.: +49 (0)211 6886-1051 Fax: +49 (0)211 6886-3759 Email: investorrelations@metro.de Internet: www.metrogroup.de 2 October 2013 METRO AG 2013 38