Full Year 2019 Metro AG Earnings Call Transcript
Ladies and gentlemen, thank you for standing by. Welcome, and thank you for joining the financial year 2018/'19 conference call. (Operator Instructions)
I would now like to turn the conference over to Olaf Koch, CEO. Please go ahead.
Yes. Thank you, and good morning, everyone, to the results presentation '18/'19, and thank you for joining this early morning call.
Before we start, have a brief look to the disclaimer, please.
And then let's get started. So '18/'19, definitely was a significant year for METRO. Not only we have seen good momentum in like-for-like, but it's also visible that through 2 major initiatives that we conducted in '18/'19, which will be completed in calendar year 2020, we are recalibrating on the right assets. And that, in combination with a momentum in like-for-like, gives us confidence that we absolutely have the right ingredients for future growth. Furthermore, the 2 transactions certainly are also going to help us to strengthen our financial
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