Ceconomy Q2 Sales Down 5.7% - Quick Facts

German consumer electronics retailer Ceconomy AG (MTAGF.PK,MTTRY.PK) reported that its sales for the second-quarter were 4.3 billion euros, about 5.7 percent lower than in the previous year. The sales adjusted for currency effects and portfolio change.

Adjusted EBIT was negative 146 million euros compared to negative 131 million euros in the prior year. The decline in adjusted Group EBIT in the second quarter of 2020/21 mainly reflected lower sales from brick-and-mortar business at MediaMarkt and Saturn in Germany as well as at MediaMarkt in the Netherlands.

Ceconomy's online sales increased significantly by 146.5 per cent in the second quarter of 2020/21, accounting for almost half of total sales at 2.1 billion euros.

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