Despite record sales, the decline in the net profit goes in the Migros . The bottom line is the orange giant earned in the last year of 475 million francs. The are 5.5 percent less than in 2017.
to blame for the decline, among other things, Globus, Migros, announced on Tuesday in a Communiqué. You have value to corrections of 90 million francs to the Department store chain.
Operationally, has caught the Migros after the slump in the previous year, again. The operating profit (Ebit) rose by 7.8 percent to 651 million francs.
However, the retail trade group is still far from former heights. In the year 2016, Migros had retracted an operating profit of 911 million Swiss francs.
target achieved
The current Ebit margin to remain at 2.3 per cent to a low level, the continued margin pressure reflect. The Migros group is explained with the slightly improved operating result on track, but not on the level of wool you reach Migros-chief Fabrice Zumbrunnen: “We are working to improve our performance.”
a year Ago, the Migros-chief, had told the media: “The profit must rise. No one can be satisfied with this result.”
chief financial officer Jörg Zulauf was expecting at the time, in order to create 2018, the longer-term target of 2 percent to 4 percent net profit margin. This is not managed well. With around 1.7 per cent, the net profit margin is even lower than the 1.8 per cent from the previous year.
The group’s sales increased, however, by 1.4 percent to 28.5 billion Swiss francs, as from January it is known. This is a record.
Also Coop with a profit decline
For comparison: competitor Coop suffered in the past year, also a decline of 2.6 percent to 473 million Swiss francs. To blame for the divers Out of the loss market place Siroop Online at the end of April.
This tear-operatively is a hole of 35 million Swiss francs in cash, which resulted in the operating profit (Ebit) to the bottom. The Ebit fell by 34 million to 772 million francs. Without Siroop, the profit would be increased. (Dec/sda)
Created: 26.03.2019, 10:32 PM
