DUESSELDORF (dpa-AFX) - Ceconomy AG (MTAGF.PK, MTTRY.PK) reported that its first-quarter net result from continuing operations rose 3.0% year-on-year to 107 million euros. Earnings per share from continuing operations was 0.30 euros compared to 0.32 euros. Excluding the expenses for restructuring and management changes in the first quarter of 2018/19, earnings per share would have even been 0.05 euros higher at 0.37 euros.
In the first quarter of 2018/19, reported Group EBITDA declined by 17 million euros to 291 million euros. Adjusted for items, Group EBITDA increased 5.8% to 325 million euros.
In the first quarter of 2018/19, CECONOMY generated Group sales of 6.9 billion euros, an increase of 1.7 percent. Adjusted for currency and portfolio change effects, sales were even up 2.8 percent year-on-year. On a like-for-like basis, Group sales recorded an increase of 2.4 percent compared to the prior-year period.
'After three quarters of stagnating respectively declining total sales, particularly in Germany, we posted a positive sales trend in the first quarter of 2018/19. One of the key contributors to this development was the improved planning related to the promotional days around Black Friday. Before expenses in connection with top management changes and despite weaker earnings in October, we recorded a slight increase in the operating result. On this basis, we confirm the outlook for our financial year 2018/19,' Bernhard Duettmann, Member of the Management Board/CFO, said.
For financial year 2018/19, CECONOMY expects a slight increase in total sales compared to the previous year. Both in terms of EBITDA and EBIT, CECONOMY expects a slight decline, not taking into account the earnings contributions from the investment in Fnac Darty S.A.
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