Media Markt's parent company thrives thanks to online

Media Markt and Saturn’s new parent company, CECONOMY, has performed well in its fiscal year 2016/2017. Its 1.3 % turnover increase was largely thanks to improved online sales.

Online generates 10 % of turnover

The total turnover reached 22.155 billion euro in the past fiscal year: it grew 1.9 % on a like-for-like basis, but the biggest surge is to be found online, where turnover grew 21 % to 2.4 billion euro.

Belgian turnover grew from 681 to 686 million euro and the Netherlands also posted a small increase, from 1.57 to 1.59 billion euro. Western and Southern European turnover grew from 6.609 to 6.714 billion euro and the DACH region spiked from 12.358 to 12.662 billion euro.

Its EBITDA was slightly lower than last year’s, at 704 million euro, but its net profit result was higher than last year, at 249 million euro. Last year, it generated a 227 million euro net profit.

Looking at the fourth quarter, turnover grew 4.6 % to 5.264 billion euro with a 146 million euro profit. Last year, it only managed an 88 million euro net profit in the fourth quarter.