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MarketScreener Homepage  >  Equities  >  Xetra  >  Ceconomy    CEC   DE0007257503

CECONOMY

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Ceconomy : Swung to 2Q Profit; Backs 2019 View

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05/21/2019 | 01:40am EDT

By Max Bernhard

Germany's Ceconomy AG (CEC.XE) said Tuesday that it swung to a profit in the second quarter, and backed its guidance for the financial year ahead.

The German retailer of electrical goods reported a net profit from continuing operations of 25 million euros ($27.9 million) for the quarter compared with a loss of EUR62 million the same period last year, when Ceconomy said its second-quarter result was hit by an impairment of its stake in Metro AG.

Sales from continuing operations fell 2.0% to EUR5.02 billion, the company said. On a like-for-like basis, sales declined 1.7%.

Ceconomy confirmed its outlook for the financial year 2018-2019, continuing to expect a slight on-year increase in total sales and slight declines in earnings before interest and taxes excluding Fnac Darty SA. The company said its outlook is adjusted for currency effects and portfolio changes, as well as costs tied to its reorganization and efficiency program. Expenses relating to changes in top management in the first quarter also aren't included, it said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

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Financials (€)
Sales 2019 21 459 M
EBIT 2019 364 M
Net income 2019 134 M
Finance 2019 577 M
Yield 2019 2,41%
P/E ratio 2019 17,94
P/E ratio 2020 8,78
EV / Sales 2019 0,06x
EV / Sales 2020 0,06x
Capitalization 1 881 M
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Technical analysis trends CECONOMY
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 5,96 €
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Jürgen Fitschen Chairman-Supervisory Board
Jürgen Schulz Deputy Chairman-Supervisory Board
Karin Dohm Independent Member-Supervisory Board
Bernhard Düttmann Independent Member-Supervisory Board
Daniela Eckhardt Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
CECONOMY66.43%1 989
BEST BUY COMPANY27.53%16 938
AARON'S, INC.45.80%3 599
TECH DATA CORP22.92%3 380
JB HI-FI LIMITED17.21%2 231
GOME RETAIL HOLDINGS LTD-68.94%2 089