Q2 2025 CECONOMY AG Earnings Call Transcript
Key Points
- Ceconomy AG (MTTRY) achieved a 1.3% sales growth in Q2, with a like-for-like growth of 0.8%, despite a soft market environment.
- The company reported a ninth consecutive quarter of EBIT growth, with adjusted EBIT doubling to EUR10 million in Q2.
- Online sales surged by 7.4%, increasing the online sales share to nearly 25% of total sales.
- Ceconomy AG (MTTRY) successfully launched its marketplace in Belgium, marking the sixth country in its online expansion.
- The company's growth businesses, including services and solutions, marketplace, and private label, contributed significantly to gross profit and margin improvements.
- The DACH region experienced a 3.7% decline in like-for-like sales, driven by soft consumer demand and reduced footfall.
- Reported EPS was disappointing, with a decline to minus EUR0.08 in Q2, influenced by lower profit share from Fnac Darty and costs related to a fire damage in the Netherlands.
- The Polish market remains challenging, with the company not satisfied with its financial performance and acknowledging that recovery will take time.
- Free cash flow was impacted by soft demand, resulting in EUR171 million for the first half, with higher stock levels due to negative calendar impacts.
- The company faced a EUR35 million decline in non-recurring items year-on-year, primarily due to lower profit share and unexpected costs.
Ladies and gentlemen, thank you for standing by. Welcome to the Ceconomy Q2 half year result webcast and conference call.
(Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Fabienne Caron, Vice President, Investor Relations. Please go ahead.
Good morning, everyone, and welcome to our Q2 results presentation. On my side today are our CEO, Dr. Karsten Wildberger; and our CFO, Remko Rijnders.
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, I'm delighted to hand over the call to Kai-Ulrich, who will walk us through the highlight of the first quarter. Kai, the stage is
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