CECONOMY AG

Earnings Release • Jul 25, 2008

News Details

Ad-hoc | 25 July 2008 14:39

METRO AG: H1 burdened by special items – Outlook 2008 confirmed

METRO AG / Half Year Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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• Streamlining of Real’s store network on track
• Adler is being prepared for disposal – valuation adjusted

Streamlining Real’s store network is, in addition to sharpening Real’s
brand, an important element of the restructuring programme. Until the
beginning of 2010, Real will dispose of 27 underperforming stores.
Consequently and as previously announced at the presentation of the
financial statements in March, one-off expenses of around €237m will be
incurred in Q2 2008.

Against the backdrop of a weak H1 development in a very difficult overall
clothing market environment, METRO Group has decided to accelerate the
disposal of the Adler fashion stores. In this context, the valuation for
the Adler group decreases due to the revised plan. Hence, non-cash
effective expenses amounting to €312m from the full goodwill amortization
and around €63m other expenses will be incurred in Q2 2008.

These aforementioned expenses are special items, which are not included in
METRO Group’s 2008 EBIT-guidance. METRO Group’s 2008 earnings target
remains unchanged with earnings growth expected to track between six and
eight percent before special items. These expenses will not affect
management’s dividend proposal for the financial year 2008.
25.07.2008 Financial News transmitted by DGAP

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Language: English
Issuer: METRO AG
Schlüterstr. 1
40235 Düsseldorf
Deutschland
Phone: +49 (0)211 6886-1936
Fax: +49 (0)211 6886-3759
E-mail: investorrelations@metro.de
Internet: www.metrogroup.de
ISIN: DE0007257503, DE0007257537, Weitere: www.metro.de/investor relations
WKN: 725750, 725753, Weitere: www.metro.de/investor relations
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Hannover, München, Hamburg, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) SWX

End of News DGAP News-Service

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