Ceconomy (MediaMarkt) raises sales by 5 %

Ceconomy, the company behind German electronics chains MediaMarkt and Saturn, has seen third-quarter sales grow 5 % and losses decline.

Positive outlook

Comparable sales grew 4.4 %, while adjusted operating profit (EBIT) rose by 20 million euros – but it still remained 31 million euros below zero. For the first nine months of the broken financial year, revenue grew by 5.5 % (+ 4.5 % on a like-for-like basis), while adjusted EBIT went up 56 million euros to 258 million.

These are preliminary figures: detailed results will follow on 12 August. Ceconomy adjusts its forecasts for the full year upwards: the retailer is now aiming for an EBIT of 375 million euro, which is better than analysts’ expectations of 366 million euro. The company sees growth mainly in the German-speaking countries and Western and Southern Europe.