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Metro Group revenue down 2.2%

Revenue for the German Metro Group decreased in the first quarter of the 2014/15 fiscal year (October to December 2014) by 2.2% compared to the same period one year earlier. Revenue thus amounted to 18.3 billion Euro, reports the Austrian website cash.at.

In particular the exchange rate losses in Eastern Europe had strong effects on revenue. In Eastern Europe revenue fell by 12.4% to 4.04 billion Euro. "The weak ruble overshadowed our overall good operative development," said Olaf Koch, CEO of Metro AG.

In Germany, Metro's revenue stagnated in the first quarter at 7.7 billion Euro (+0.1%). In Western Europe (excluding Germany), there was a 1.1% growth in revenue, making the total 5.6 billion Euro. The strongest revenue growth was seen in Asia and Africa however, with a growth of 10.5%, giving this area a revenue of 961 million Euro.