Press Releases

Q1 2018/19: CECONOMY reports growth in sales and stabilised earnings

02/08/2019

  • Currency and portfolio adjusted sales up 2.8 per cent in the first quarter; all regions contributed to sales growth; online sales up 28.0 per cent to €1.0 billion
  • Earnings (EBITDA*) up €18 million year-on-year; EBIT*at €269 million (up €15 million compared with last year); before expenses for management changes, which impacted earnings with €34 million

Duesseldorf, 8 February 2019 – Following the challenging development in 2017/18, CECONOMY AG (“CECONOMY”) stabilised its business in the first quarter of the new financial year 2018/19. Currency and portfolio adjusted sales increased by 2.8 per cent year-on-year from October to December. The main drivers were high Black Friday sales and significant growth in the strategically important Online and Services & Solutions business. Earnings (EBITDA) in the first quarter – excluding the investment in Fnac Darty and the costs for management changes at CECONOMY and MediaMarktSaturn – rose by €18 million year-on-year. EBIT also adjusted for these effects improved by €15 million to €269 million in Q1 2018/19. Changes on the first and second management level of CECONOMY and MediaMarktSaturn resulted in expenses of €34 million, which impacted the reported EBITDA and EBIT.

The complete press release you will find here.