INSIGHT: Pressure growing on Metro Group CEO Koch
Metro Group’s results for the 2012 financial year strongly reflect the company’s still-troubled situation in the face of both a weak economy and structural deficits. EBIT before special items came in far below the prior year, falling by almost 16.7% to EUR1.98 billion (USD2.54 billion). Earnings before taxes (EBT) fell even more sharply by 45%, coming in at EUR810 million (USD1.04 billion). Net profit saw a disastrous decline of 86.3% to EUR101 million (USD130 million). As CEO Olaf Koch assumes responsibility for Metro’s cash & carry division alongside his overall duties, Planet Retail asks whether he can handle the mounting pressure and turn the German retail giant’s fortunes around.
Written by Bianca Casertano.
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