Q3 2026 CECONOMY AG Earnings Call Transcript
Key Points
- Ceconomy AG (MTTRY) reported its 14th consecutive quarter of profitable growth, with Q3 like-for-like sales up 8.2%.
- Adjusted EBIT for the first nine months increased by 22% to $342 million, driven by strong performance in growth businesses.
- Online sales grew 18.3% in Q3, and the online share of total sales rose to 28.2%, up 190 basis points year-over-year.
- Growth businesses like retail media (income nearly doubled) and marketplace GMV (high double-digit growth) are scaling rapidly, improving margins.
- The company confirmed its full-year guidance for moderate sales growth and adjusted EBIT of around $500 million, with progress on the JD.com partnership expected to close in H2 2026.
- DACH region saw a slight like-for-like sales decline of 0.9% in the first nine months, though Q3 improved.
- Higher risk provisions on mobile phone contracts in other segments weighed on EBITDA, reflecting macroeconomic headwinds.
- Non-recurring items increased by $11 million year-over-year, partly due to a lower profit share from FNACDRT.
- Free cash flow remained seasonally negative in the first nine months, though stable year-on-year in Q3.
- The JD.com partnership closing is delayed, pending FDI clearance in Austria and FSR filing in Brussels, with expectations for H2 2026.
Ladies and gentlemen, thank you for standing by. Welcome to the Seaconomy AG Q3 9-month 2025/26 results conference call.
At this time, all participants are in a listen-only mode.
The presentation will be followed by a question-and-answer session.
To ask a question, you will need to press *11 on your telephone keypad.
You will then hear an automated message advising your hand is raised.
To withdraw your question, please press *11 again.
You can also write your questions via the text box below the webcast. Please be advised that today's conference is being recorded.
I will now hand the conference over to Kirsten Octorvo, Senior Investor Relations Manager. Please go ahead.
Thank you, Crystal, and good morning, everyone. Welcome to our Q3 results call.
I'm joined today by our CEO, Remco Reiners. Before we begin, please take note that today's presentation and discussion may include forward-looking statements.
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