DGAP-Adhoc

CECONOMY AG with strong quarterly results - Outlook for 2020/21, however, subject to significantly increased uncertainties due to prolonged temporary store closures as a result of COVID-19 - Seite 2

Outlook for 2020/21 subject to significantly increased uncertainties due to extension of local lockdowns
Despite the strong start in the first quarter of 2020/21, the further course of business as well as the outlook for the full year 2020/21 is subject to significantly increased uncertainties in view of the difficult-to-estimate duration of the COVID-19 pandemic and the new and extended lockdowns in a large number of countries.

The outlook for the financial year 2020/21 published on 15 December 2020 was based on the assumption that the further impact of the COVID-19 pandemic on both the overall economic situation and the Group's situation would not deviate significantly from the extent known at that time. Longer-lasting, widespread closures of a significant part of the stationary business, as has now occurred in Germany, Austria, the Netherlands and Switzerland, were not taken into account at that time.

CECONOMY will continuously reassess the impact of the COVID-19 pandemic on the business and the continuity of the company's targets for financial year 2020/21.

All figures published herein are preliminary and unaudited. Detailed results for the first quarter of 2020/21 will be published on 9 February 2021 at 07:00 CET.

Financial ratios: The outlook for financial year 2020/21 (p. 25) and further background regarding the financial rations referred to (pp. 28 to 30) are available in the annual report for financial year 2019/20 published on the company's website at the following link:
https://www.ceconomy.de/media/ceconomy_annual_report_2019_20.pdf

Person making the notification: Stephanie Ritschel, Vice President Investor Relations, CECONOMY AG

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*Adjusted for portfolio changes and does not take into account the earnings effects from companies accounted for using the equity method. Non-recurring earnings effects in connection with COVID-19-related store closures as well as the introduction of a harmonised group-wide organisational structure ("Operating Model") announced on 12 August 2020 are not included. Expenses in connection with the transaction announced on 14 December 2020 regarding the acquisition of the minority shareholding in MediaMarktSaturn and the reorganisation of the shareholder structure are also not taken into account.

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19-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.