Ad hoc announcement: CECONOMY AG: Earnings in the past financial year 2018/19 on prior-year's level

CECONOMY AG

WKN: 725750 ISIN: DE0007257503 Land: Germany

Nachricht vom 23.10.2019 | 19:24

CECONOMY AG: Earnings in the past financial year 2018/19 on prior-year's level

CECONOMY AG / Key word(s): Preliminary Results

CECONOMY AG: Earnings in the past financial year 2018/19 on prior-year's level

23-Oct-2019 / 19:24 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

In the past financial year 2018/19, CECONOMY AG (CECONOMY) achieved a slightly beer than expected development in terms of earnings. Based on preliminary figures, CECONOMY expects for the past financial year 2018/19 an EBITDA and EBIT on prior year's level (comparave previous-year figures: EBITDA EUR630 million and EBIT EUR399 million), both not taking into account the earnings contribuons from the investment in Fnac Darty S.A.

The result is thus slightly above the original outlook for the past financial year 2018/19, which foresaw a slight decline in both EBITDA and EBIT. This is essenally due to a beer than expected operaonal business development in Spain, Italy and Germany in the fourth quarter.

Further, for the past financial year 2018/19 CECONOMY expects sales to grow by approx. +0.8 per cent adjusted for currency effects and porolio changes. As expected, net working capital (NWC) declined moderately and is likely to be around EUR330 million lower compared to the respecve prior-year period. This excludes approx. EUR-20 million resulng from the separate disclosure of assets and liabilies of the disposal group MediaMarkt Greece. Including this effect from the disposal group, net working capital is likely to be around EUR310 million lower compared to the respecve prior-year period.

The outlook was adjusted for exchange rate effects and before porolio changes. Expenses in connecon with the reorganizaon and efficiency program announced on 29 April 2019 are not included. Expenses for top management changes in the first quarter of 2018/19 are also not included.

All figures and statements reported herein are preliminary and unaudited. Full financial disclosure for the past financial year 2018/19 will be published on 17 December 2019 at 07:00 am CET.

Financial raos: Further background regarding the financial raos referred to may be found on pages 47 to 50 of the annual report for the financial year 2017/18 published on the company's homepage, accessible via the following link:

hps://www.ceconomy.de/media/ceconomy_annual_report_2017_18.pdf

Person making the noficaon: Stephanie Ritschel, Head of Investor Relaons, CECONOMY AG

23-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	CECONOMY AG
	Benrather Straße 18-20
	40213 Düsseldorf
Phone:	Germany
[phone]
Fax:	[phone]
E-mail:	[e-mail]
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
EQS		Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
News ID: 895183
End	of Announcement	DGAP News Service