CECONOMY AG Reveals Business Forecast for 2023/24 Fiscal Year

• CECONOMY AG has specified its outlook for the business year 2023/24, expecting an adjusted EBIT of between 290 and 310 million euros, surpassing analysts' expectations of 273 million euros.
• The increase in EBIT is expected to be primarily driven by the Western/Southern Europe segment.
• CECONOMY continues to expect a slight increase in total sales adjusted for currency effects and portfolio changes across all segments.
• The outlook does not take into account the earnings effects from companies accounted for using the equity method, accounting effects of the application of IAS 29 in Turkey as a hyperinflationary economy, and non-recurring effects.
• In the second quarter of 2023/24, CECONOMY achieved a sales growth adjusted for currency and portfolio effects of 6.5 percent, contributing 5 million euros to the adjusted EBIT, an increase of +26 million euros compared to the previous year.
• The detailed results for Q2/H1 2023/24 will be published as planned on May 15, 2024 at 07:00 a.m. CEST.

The next important date, Publication of the semi-annual financial report, at CECONOMY is on 15.05.2024.

At this time, the index SDAX was at 14.837,57PKT (+0,30 %).

CECONOMY

+3,29 %

+8,96 %

+43,63 %

+53,33 %

+41,00 %

-33,16 %

-40,04 %

-70,02 %

-76,24 %

ISIN:DE0007257503WKN:725750

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