Q1 2025 CECONOMY AG Earnings Call Transcript
Key Points
- Ceconomy AG (MTAGF) delivered a strong Q1 performance with a 9.5% increase in sales and a 7.8% like-for-like growth.
- The company gained significant market share, particularly in Germany, with an increase of 110 basis points.
- Online sales surged by 15.9%, and the online conversion rate improved by 6%, highlighting the success of their omnichannel strategy.
- Growth businesses, including Services & Solutions and Marketplace, contributed significantly to profitability, with Marketplace GMV growing by 90%.
- Ceconomy AG (MTAGF) achieved an 8th consecutive quarter of positive adjusted EBIT growth, increasing by 13% to EUR279 million.
- The company faced challenges in Poland, losing sales and market share in a highly competitive market.
- Gross margin decreased by 40 basis points due to competitive pressures during the peak season.
- Despite strong sales growth, the Polish market remains a concern, requiring structural measures and a new management team.
- The company recorded a EUR29 million impairment for Poland, impacting nonrecurring items.
- Ceconomy AG (MTAGF) faces ongoing volatility and competitive pressures in the market, particularly in the DACH region.
Ladies and gentlemen, thank you for standing by. Welcome and thank you for joining this CECONOMY AG Q1 2024, '25 results presentation. Throughout today's recorded presentation. (Operator Instructions) I would now like to turn the conference over to Fabienne Caron, Vice President in relations, please go ahead.
Good morning, everyone, and welcome to our Q1 Results Presentation. By my side today are our CEO, Karsten Wildberger; and our CFO, Kai-Ulrich Deissner. Before we dive into the detail of our performance, I want to remind you that we will be discussing certain forward-looking statements. Please refer to the disclaimer for more information. You can also find the presentation slide on our website for your reference.
This call has been recorded and will be accessible on the website later today. Now, without further ado, I'm delighted to handover the call to Karsten, who will work us through the highlights of our first quarter. Karsten, the stage is yours.
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