Press Releases

CECONOMY AG with good third quarter

08/31/2017

  • Q3 2016/17 sales up 1.1% year on year to €4.74 billion; online sales boosted to 10.6% of total sales
  • EBITDA improved by €22 million to € –4 million due to strong online business, tight cost control and focused marketing spend
  • CEO Pieter Haas: “We are focused on online and service. Our goals are profitable growth and operational excellence.”

Duesseldorf, 31 August 2017 – In the third quarter of the financial year 2016/17 CECONOMY AG strengthened its position as Europe’s leading consumer electronics platform and reaffirmed that it is well positioned for further growth as an independent company. The Company continued to benefit from its multichannel business model as well as its continuous focus on online and service as key value drivers. Robust growth in the online business, increased service sales and tight cost control combined with focused marketing spend contributed materially to the marked improvement in CECONOMY’s earnings development against the first half-year. With the acquisition of a minority stake in French market leader Fnac Darty CECONOMY additionally stands to gain from growth in another major European market from which it was previously absent.

For further information, please see the attached press release.