Press Releases

Q2 2017/18: CECONOMY is driving forward its strategic agenda and increases operating profit

05/17/2018

  • Adjusted for currency effects sales increased by 0.8 per cent in the second quarter of 2017/18; EBITDA incl. Fnac Darty rose by €56 million to €97 million, EBIT incl. Fnac Darty at €38 million; net financial result negatively impacted by impairment of Metro AG stake
  • MediaMarktSaturn and Fnac Darty start European Retail Alliance to achieve efficiencies in the partnership with suppliers and in the offering to customers
  • In financial year 2017/18 slight growth in sales adjusted for currency effects and portfolio changes expected, together with an increase in EBITDA and EBIT at least in the mid single-digit percentage range

Dusseldorf, 17 May 2018 - CECONOMY AG ("CECONOMY") successfully continued driving forward its strategic agenda in the second quarter of the 2017/18 financial year, significantly improving operating profit. Adjusted for currency effects, total sales increased by 0.8 per cent from January through March compared with the previous year and came in at €5.2 billion on a reported basis. EBITDA1 increased by €56 million to €97 million (Q2 2016/17: €40 million before special items) while EBIT improved from a loss of €19 million in the previous year to an operating profit of €38 million. Even excluding the contribution from the investment in the leading French retail company Fnac Darty, which made a noticeable contribution to earnings for the first time with around €21 million, EBIT improved to around €18 million.

Here you will find the complete press release.