METRO reports 2016 third-quarter results

MONTRÉAL, Aug. 12, 2016

2016 THIRD QUARTER HIGHLIGHTS

• Sales of $4,015.4 million, up 4.5%
• Same-store sales up 3.9%
• Net earnings of $176.5 million, up 8.0%
• Fully diluted net earnings per share of $0.72, up 12.5%
• Declared dividend of $0.14 per share, up 20.0%

	16 weeks / Fiscal Year
(Millions of dollars, except for net earnings per share/EPS)	2016 ARIVA.DE Börsen-Geflüster Kurse Metro 47,98 € -0,86%	%	2015	%	Change (%)
Sales	4,015.4	100.0	3,842.3	100.0	4.5
Operating income before depreciation and amortization and associate's earnings	297.4	7.4	277.6	7.2	7.1
Net earnings	176.5	4.4	163.5	4.3	8.0
Fully diluted EPS	0.72	—	0.64	—	12.5
	40 weeks / Fiscal Year
(Millions of dollars, except for net earnings per share/EPS)	2016	%	2015	%	Change (%)
Sales	9,859.0	100.0	9,389.9	100.0	5.0
Operating income before depreciation and amortization and associate's earnings	709.7	7.2	650.4	6.9	9.1
Net earnings	441.2	4.5	387.6	4.1	13.8
Fully diluted EPS	1.79	—	1.50	—	19.3
Adjusted net earnings(1)	441.2	4.5	391.9	4.2	12.6
Adjusted fully diluted EPS(1)	1.79	—	1.52	—	17.8

PRESIDENT'S MESSAGE

"We are very pleased with our solid third quarter results. Our teams did an excellent job to grow sales, tonnage and market share in a highly competitive environment marked by declining food inflation. We will continue⁽²⁾ to execute on our strategy and invest in our infrastructure to create⁽²⁾ value for our customers and shareholders", stated Eric R. La Flèche, President and Chief Executive Officer.

2016 THIRD QUARTER RESULTS

SALES

Sales in the third quarter of 2016 reached $4,015.4 million, up 4.5% compared to $3,842.3 million in the third quarter of 2015. Same-store sales increased by 3.9% (4.3% in the same quarter last year). Our aggregate food basket inflation declined from the previous two quarters to a level of 1.5%. Our multi-store formats, our efficient merchandising strategies and our in-store execution all contributed to our growth.

Sales in the first 40 weeks of fiscal 2016 totalled $9,859.0 million versus $9,389.9 million for the corresponding period of fiscal 2015, an increase of 5.0%.

OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION AND ASSOCIATE'S EARNINGS

This earnings measurement excludes financial costs, taxes, early redemption fees, depreciation and amortization and associate's earnings.

Operating income before depreciation and amortization and associate's earnings (Alimentation Couche-Tard) for the third quarter of 2016 totalled $297.4 million or 7.4% of sales versus $277.6 million or 7.2% of sales for the same quarter last year.

For the first 40 weeks of fiscal 2016, operating income before depreciation and amortization and associate's earning totalled $709.7 million or 7.2% of sales versus $650.4 million or 6.9% of sales for the same period last year.

Gross margin on sales for the third quarter and the first 40 weeks of 2016 were 19.6% and 19.7% respectively versus 19.8% and 19.6% for the corresponding periods of 2015. Operating expenses as a percentage of sales for the third quarter and the first 40 weeks of 2016 were 12.2% and 12.5% respectively versus 12.5% and 12.7% for the corresponding periods of 2015, leveraging our sales growth.

DEPRECIATION AND AMORTIZATION, NET FINANCIAL COSTS AND EARLY REDEMPTION FEES

Total depreciation and amortization expenses for the third quarter and the first 40 weeks of 2016 were $56.4 million and $138.9 million respectively versus $54.3 million and $134.1 million for the corresponding periods of 2015.

Net financial costs for the third quarter of 2016 and 2015 totalled $18.3 million. For the first 40 weeks of 2016, net financial costs totalled $47.4 million compared to $45.3 million in 2015. In addition, early redemption fees of $5.9 million of Series A Notes were incurred in the first quarter of 2015.

SHARE OF AN ASSOCIATE'S EARNINGS

Our share of earnings in Alimentation Couche-Tard was $15.5 million for the third quarter of 2016 versus $8.7 million for the corresponding quarter of 2015.

Our share of earnings in Alimentation Couche-Tard was $67.3 million for the first 40 weeks of 2016 versus $42.9 million in 2015.

INCOME TAXES

The 2016 third quarter income tax expense of $61.7 million represented an effective tax rate of 25.9% compared with the 2015 third quarter tax expense of $50.2 million for an effective tax rate of 23.5%.

E-Mail-Adresse

Bitte überprüfe deine die E-Mail-Adresse.

Benachrichtigungen von ARIVA.DE
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)

-1

Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink.

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.

Andere Nutzer interessierten sich auch für folgende News

10:28 - PR Newswire

The Lindsell Train Investment Trust Plc - Director/PDMR Shareholding

07:01 - PR Newswire

BlackRock Frontiers Investment Trust Plc - Portfolio Update