DUESSELDORF (dpa-AFX) - German consumer electronics retailer Ceconomy AG (MTAGF.PK, MTTRY.PK) reported Tuesday that its fiscal 2019 net profit from continuing operations grew to 158 million euros from last year's 87 million euros. Earnings per share amounted to 0.34 euros.
EBIT as reported was 224 million euros and EBITDA as reported was 465 million euros.
Adjusted EBIT for the year was 423 million euros, compared to 419 million euros a year ago. Adjusted EBITDA was 650 million euros, same as last year.
Gross margin of the Group amounted to 19.3 percent, a year-on-year decline of 0.8 percentage points.
The company generated total annual sales of 21.46 billion euros, up 0.2 percent from 21.42 billion euros. Adjusted for currency effects and portfolio changes, sales grew 0.8 percent.
Looking ahead, Ceconomy said it expects to see an improvement in profitability in the new financial year.
For 2020, the company expects a slight increase in total sales adjusted for exchange rate effects compared to the previous year, and an EBIT between 445 million euros and 475 million euros.
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