CECONOMY AG

Earnings Release • Nov 1, 2005

News Details

Ad-hoc | 1 November 2005 21:42

METRO Group adjusts sales and earnings expectations for 2005

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Against the background of the weak development of METRO Group’s Real Hypermarkets in Germany and the generally expected improvement that failed to materialize with the outcome of the Election, the visibility for the fourth quarter in Germany is impaired. Metro Group now anticipates sales growth of around 4% in 2005. The operating development of Real will result in a review of the usability of existing tax-loss-carry-forwards for the 2005 Group accounts. This could lead to a one-off non cash deferred tax expense in the area of a low-triple-digit million Euro amount. Accordingly, EPS in 2005 would significantly be below prior year’s level. Adjusted for this one-off tax expense, EPS should grow in mid- single-digit percentage territory. This expectation does not include any implication from Praktiker leaving the Group. METRO Group’s international business developed very positively. In particular the Group’s growth drivers, the worldwide Metro Cash & Carry business as well as Media Markt and Saturn, continued their positive business development with continuously strong momentum. METRO AG Schlüterstr. 1 40235 Düsseldorf Deutschland ISIN: DE 000 725 750 3 (DAX); DE 000 725 753 7 (DAX) WKN: 725 750; 725 753 Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Düsseldorf End of ad hoc announcement (c)DGAP 01.11.2005