DUESSELDORF (dpa-AFX) - German consumer electronics retailer Ceconomy AG (MTAGF.PK, MTTRY.PK) reported Tuesday that its third-quarter loss per share was 0.32 euro, compared to loss of 0.09 euro last year.
Net financial result was loss of 154 million euros, decreased by 142 million euros from last year.
The company noted that impairment of Metro AG stake of around 138 million euros negatively impacted the financial result and earnings per share in the third quarter.
All figures for the previous year's quarter relate solely to continuing operations, i.e. CECONOMY.
Earnings before interest and tax or EBIT was negative 30 million euros, compared to negative 49 million euros last year. EBIT excl. Fnac Darty was negative 29 million euros.
EBITDA increased to 26 million euros from 4 million euros in the prior year.
On a reported basis, Group sales decreased 0.7 percent to 4.60 billion euros from previous year's 4.63 billion euros.
Sales, adjusted for currency effects and portfolio changes, increased by 0.8 percent. The main driver was strong growth in the Online/Mobile and Services/Solutions business segments.
Looking ahead, the company confirmed full-year targets. For financial year 2018, CECONOMY expects a slight increase in total sales compared to the previous year. Both in terms of EBITDA and EBIT, CECONOMY expects an increase in the low to mid-single-digit percentage range without taking into account the earnings contributions from the investment in Fnac Darty S.A.
Pieter Haas, CEO of CECONOMY , said, 'We know that the fourth quarter is the key quarter to reach our targets, but we are confident that we can reach the goals we have set.'
Copyright RTT News/dpa-AFX