Germany · Delayed Price · Currency is EUR Ceconomy AG Earnings Call Transcripts
Fiscal Year 2026
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Q1 delivered strong sales and profitability growth, with online share and customer satisfaction at record highs. Growth businesses and international diversification drove resilience, and full-year guidance for sales and EBIT is confirmed.
Fiscal Year 2025
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Sales grew 5.7% to EUR 23.1 billion and adjusted EBIT rose 24% to EUR 378 million, with strong free cash flow and record customer satisfaction. Growth businesses now contribute 36% of gross profit, and a positive outlook is maintained as the JD.com partnership advances.
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Achieved 10th consecutive quarter of growth, with Q3 sales up 5.1% and adjusted EBIT improving by €20 million. Growth was driven by services, marketplace, and retail media, while the JD.com partnership and strong cash flow position the company for continued expansion.
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A strategic partnership with JD.com was announced, featuring a EUR 4.60 per share takeover offer and a focus on accelerating omnichannel growth, technology, and logistics. The company will remain independent, with no workforce reductions, and aims to close the transaction in H1 2026.
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Q2 saw 1.3% sales growth and a doubling of adjusted EBIT to €10 million, driven by strong online and growth businesses, despite soft demand and leadership changes. Full-year guidance for 3%-5% sales growth and higher EBIT is reaffirmed, with all regions contributing.
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Q1 saw 9.5% sales growth, strong market share gains, and 13% Adjusted EBIT growth, with robust free cash flow and a positive outlook for FY 2024-2025. Growth businesses now drive a third of gross profit, and cost-saving initiatives continue to support profitability.
Fiscal Year 2024
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Sales grew 5.3% to €22.4B and adjusted EBIT rose 26% to €305M, with strong market share gains and record customer satisfaction. Guidance calls for further sales and EBIT growth in 2024-25, driven by growth businesses and cost efficiencies.
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Q3 saw 6.6% sales growth and improved profitability, with market share gains in 10 of 11 countries and strong momentum in online, private label, and service businesses. Sales outlook for 2023-2024 was upgraded to moderate growth, and adjusted EBIT guidance was reaffirmed.