Inventories can be broken down by sales line as follows:

The decline in inventories of €970 million in the short financial year is primarily due to the strong stock reduction at the Media-Saturn sales line (€850 million). The main reason for this was the season-related high level of inventories as of 31 December 2012, which was markedly reduced in the subsequent quarter.

Compared with 30 September 2012, inventories fell by €743 million. Key factors for this were the inventory-optimising measures taken by the sales lines Media-Saturn (€235 million) and METRO Cash & Carry (€229 million) as well as the divestment of Real's Eastern European business (€227 million).

Inventories include impairments of €267 million (30/9/2012: €260 million; 31/12/2012: €283 million).