CECONOMY AG: CECONOMY specifies outlook for the business year 2023/24

EQS-Ad-hoc: CECONOMY AG / Key word(s): Forecast
CECONOMY AG: CECONOMY specifies outlook for the business year 2023/24

13-May-2024 / 06:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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CECONOMY specifies outlook for the business year 2023/24

CECONOMY AG ("CECONOMY") specifies the outlook for the business year
2023/24. Expected is now an adjusted EBIT of between 290 and 310 million
euros. This surpasses analysts' expectations of 273 million euros*. This
increase is expected to be primarily driven by the Western/Southern Europe
segment. Previously, CECONOMY had expected a clear improvement in adjusted
EBIT resulting from the DACH and Western/Southern Europe segments.

CECONOMY continues to expect a slight increase in total sales adjusted for
currency effects and portfolio changes across all segments.

The outlook is adjusted for portfolio changes and does not take into account
the earnings effects from companies accounted for using the equity method.
Accounting effects of the application of IAS 29 in Türkiye as a
hyperinflationary economy are likewise unaccounted for. It also does not
include non-recurring effects, especially in connection with the
simplification and digitalization of central structures and processes and
changes in the legal environment.

In the second quarter of 2023/24, based on preliminary figures, CECONOMY
achieved a sales growth adjusted for currency and portfolio effects of 6.5
percent (like-for-like sales +5.1 percent). This resulted in a currency and
portfolio-adjusted sales growth of 4.8 percent (like-for-like sales +3.9
percent) for the first half of 2023/24. The second quarter contributed as
expected with 5 million euros to the adjusted EBIT, which is an increase of
+26 million euros compared to the previous year, leading to 253 million
euros adjusted EBIT for H1 2023/24. The adjusted EBIT was therefore 43
million euros higher than in the comparable previous year period and thus in
line with expectations.

The detailed results for Q2/H1 2023/24 will be published as planned on May
15, 2024 at 07:00 a.m. CEST.

Explanations of the financial key figures used can be found in the annual
report for the business year 2022/23 published on the company's website (see
pages 32-35) at the following link:
https://www.ceconomy.de/media/ceconomy_annual_report_2022_23_1.pdf

Notifying person: Fabienne Caron, VP Head of Investor Relations, CECONOMY AG

*Median of estimates from 7 analysts


End of Inside Information

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   Language:       English
   Company:        CECONOMY AG
                   Kaistr. 3
                   40221 Düsseldorf
                   Germany
   Phone:          +49 (0)211 5408-7222
   Fax:            +49 (0)211 5408-7005
   E-mail:         fabienne.caron@ceconomy.de
   Internet:       www.ceconomy.de
   ISIN:           DE0007257503, DE0007257537, Weitere:
                   www.ceconomy.de/de/investor-relations/
   WKN:            725750, 725753, Weitere:
                   www.ceconomy.de/de/investor-relations/
   Indices:        SDAX
   Listed:         Regulated Market in Dusseldorf, Frankfurt (Prime
                   Standard); Regulated Unofficial Market in Berlin,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1900865

End of Announcement EQS News Service
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1900865 13-May-2024 CET/CEST