Ceconomy Q3 Preliminary Total Sales Up 7.3%

German consumer electronics retailer Ceconomy AG (MTAGF.PK,MTTRY.PK) reported that its third-quarter preliminary total sales grew 7.3% to 4.41 billion euros from 4.11 billion euros in the prior year.

Quarterly sales, adjusted for currency effects and portfolio changes, increased by 8.0% or 8.1% on a like-for-like basis reflecting high demand for Consumer Electronics and successful marketing campaigns; April 2020 heavily affected by Group-wide lockdowns, leading to low comparison base.

Online sales rose by 3.3% year-over-year to 1.5 billion euros, despite high comparison basis; online sales share reached 33.9% of total sales; average bon at sustainable high level and continued uplift in conversion; pick-up ratio came in at 43% despite ongoing restrictions.

Reported EBIT was negative 106 million euros compared to negative 64 million euros in the prior year. The prior result included 18 million euros non-recurring expenses compared to 12 million euros in latest period, roughly equally split for COVID-19-related store closures, the introduction of the new Operating Model and transaction costs.

The company will publish full financial disclosure for the third-quarter on 12 August 2021.

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