DUESSELDORF (dpa-AFX) - German consumer electronics retailer Ceconomy AG (MTAGF.PK, MTTRY.PK) reported Tuesday that its first-quarter net result declined to 153 million euros from last year's 170 million euros.
Earnings per share were 0.43 euro, down from 0.47 euro a year ago.
EBIT grew from last year to 340 million euros. Adjusted EBIT excluding associates was 346 million euros, higher than last year, driven by strong sales performance and cost discipline.
Sales for the first quarter increased 9.4 percent to 7.46 billion euros from last year's 6.82 billion euros. Adjusted revenues increased 11.4 percent.
Online sales surged 115.7 percent from last year to 2.26 billion euros, generating 30 percent of total sales
Online share reached 35 percent in December as growing COVID-19 restrictions accelerate channel shift.
Regarding the outlook, the company said its near-term trading remains challenging amid significantly increased uncertainties due to prolonged temporary store closures.
Copyright RTT News/dpa-AFX