Wednesday, March 30, 2016

Metro Group: What will change at Real, Media Markt and Saturn – THE WORLD

A planned splitting of retail giant Metro in two totally independent company should bring benefits to all who have to do with it: customers, employees and shareholders. The at least promises CEO Olaf Koch.

On Wednesday, he presented the surprising plan, the Group soon in the sectors consumer electronics with Media Saturn as the core and the wholesale and grocery around the chains Metro Cash & amp; Carry and Real split. “Both are well equipped for an independent future,” said Koch was convinced

Even for him, the plan has a great advantage. He head of wholesale and grocery to be, it will be the most troublesome subject of his current four-year term elegant los: a bitter dispute with Media-Saturn minority shareholder Erich Kellerhals about strategy, top staff and shareholder rights at Europe’s largest electronics retailer

are after cooking, the customers of the previously connected chains to benefit from the fact that the management can concentrate on the business operations, rather than the complexity of a consolidated entity as of today’s Metro with 60 billion euros sales and 230,000 employees in 30 countries to be distracted.

Gastronomy to be digitized

Photo: AP the CEO of Metro Group, Olaf Koch

So the wholesale will the issue of digitization in catering and hotel industry – come to the fore – for example in the form of automated orders. In the more than 300 Real hypermarkets again the range from now on average should be extended 65,000 items again.

While many experts doubt whether the large shopping boxes in the suburbs is to continue to be successful despite the emerging online trends in the food trade, Koch showed the ability to restructure this trading form convinced. “There is no doubt that we hold on to Real,” he denied repeatedly emerging sale speculation.

Also in electronic trading count of direct and personal contact with the customer: “Who wants to buy, set up or update the products, needs advice,” said Koch – an unspoken tip against pure online retailers like Amazon.

With daily over five million customer contacts in the well over a thousand shops MediaSaturn dispose over a good basis for further growth. Koch praised demonstratively reigning Media-Saturn-chief Pieter Haas: Thanks to good performance, the chains Media Markt and Saturn would have a market share of 14 per cent achieved in the 15 countries where the company operates, now more than ever.

Kellerhals wants to split not oppose

That should Kellerhals, a declared enemy of Haas, have not pleased. The involved today with around 22 percent of Media-Saturn-Holding GmbH 76-year-old founder fought cooking and Haas in a long series of processes up to the Federal Court, but also beyond courtrooms because he accuses them wrong business strategies and disloyalty.

Apparently he wants to split projects but not oppose. “We have taken note of the Metro with interest and will follow the further proceedings attentively,” said a spokesman for the Kellerhals company Convergenta and added: “Our rights as a limited partner of the Media-Saturn Holding, we see by the plans of Metro does not touch. “

the battle-hardened minority shareholder in the new constellation could easily be marginalized. Trade in consumer electronics is currently stuck in a period of market adjustment, Cook said. Therefore, it is quite possible that the new independent holding next Media Markt and Saturn chains buy up further. In three or four years more business units could to the holding dock.

Kellerhals would then indeed further holds a 22 percent stake in Media-Saturn, but that would just make up only a part of the activities and assets of the future electronics giant. “The consumer electronics group will be more than Media-Saturn,” said Koch. The envisaged expansion trap all the easier as a future “unmixed” electronics retailer could use its shares as acquisition currency, ie takeovers without additional debt bring access roads. This also applied to the new wholesale and food sector.

Metro stock makes jump up

The shareholders seem to convince Koch arguments. The German association for security possession (DSW) welcomed the project. The price of the Metro shares jumped to the afternoon by more than 14 percent to 28 euros. Analysts said the well so that a “Kellerhals-tee” now ceased to exist as in the foreseeable future.

The Metro’s major shareholders Haniel, Schmidt-Ruthenbeck and Beisheim support the project by Metro information. Formally, the shareholders have to approve the plan at a general meeting. Other bodies such as the supervisory board must approve the plan only. Consequently, the planned division this could drag on until the middle of next year

With an operational improvement and a debt to five billion euros -. Including through the sale of department store chain Kaufhof – whether the time is ripe for a new stage, said the CEO. For the Food and Wholesale business stand a turnover of EUR 22 billion results, today, an annual turnover of 38 billion euros and an operating profit of around 1.6 billion, for the electronic trading at about 700 million euros result.

for customers the brands remain Media Markt, Saturn or Real

This would allow both companies to move into the MDAX for medium market values , Technically to wholesale and retail food trade of today’s Metro AG are cleaved which is then only from Media-Saturn. Both companies are to get new names, while the customers of retail chains will probably continue to meet the terms Metro, Media Markt, Saturn or Real.


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