Ceconomy AG (MTAGF.PK,MTTRY.PK), a German consumer electronics retailer, reported Tuesday a narrower adjusted EBIT loss in its third quarter amid weak sales compared to the prior year.
Looking ahead, the company said it is on track to achieve its communicated mid-term targets.
For fiscal 2025, the company still expects a moderate increase in currency- and portfolio-adjusted total sales, with all segments contributing to sales growth. Adjusted EBIT is expected to rise to around 375 million euros. The anticipated improvement is mainly attributable to the DACH and Western/Southern Europe segments.
In the third quarter, adjusted EBIT loss was 31 million euros, compared to prior year's loss of 51 million euros. According to the firm, the negative EBIT is in line with the typical seasonal business pattern, partly due to lower consumer spending during the summer months.
Sales in the third quarter declined to 4.8 billion euros from prior year's 4.9 billion euros mainly due to the application of IAS 29 in Türkiye and the developments in exchange rate and inflation rate there.
Sales increased 5.1 percent on currency- and portfolio-adjusted basis, before IAS 29.
Online sales grew by 12.2 percent before IAS 29 and adjusted for currency effects from last year to around 1.1 billion euros.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.