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    CEC   DE0007257503

CECONOMY AG

(CEC)
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Delayed Xetra  -  11:35 2022-09-23 am EDT
1.205 EUR   -7.94%
09/23CECONOMY : Baader Investment Conference
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Ceconomy CFO Florian Wieser to leave company on Dec 31

09/22/2022 | 01:30pm EDT
FILE PHOTO: Annual sharholders meeting of German retailer Ceconomy AG in Duesseldorf

BERLIN (Reuters) - Chief finance officer of electronics retail holding company Ceconomy Florian Wieser is leaving the company, to be replaced by Dr. Kai-Ulrich Deissner, the company said in a statement on Thursday.

Wieser's contract will end on December 31, and Deissner is expected to take over from Feb. 1, 2023 the statement said.

Wieser was involved in the takeover of the remaining shares in Media Markt and Saturn from the Kellerhals family. Under the deal, the Kellerhals family's vehicle Convergenta will become an anchor minority shareholder in Ceconomy.

Reuters reported in August that Wieser was considering leaving the firm but the terms were still being negotiated.

(This story refiles to correct second paragraph to say Wieser's contract ends December 31, but Deissner takeover planned for February)

(Reporting by Victoria Waldersee, Matthias Inverardi)


© Reuters 2022
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Analyst Recommendations on CECONOMY AG
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Financials
Sales 2022 21 353 M 20 762 M 20 762 M
Net income 2022 118 M 115 M 115 M
Net Debt 2022 1 785 M 1 735 M 1 735 M
P/E ratio 2022 6,57x
Yield 2022 7,28%
Capitalization 585 M 568 M 568 M
EV / Sales 2022 0,11x
EV / Sales 2023 0,10x
Nbr of Employees 44 280
Free-Float 28,8%
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Technical analysis trends CECONOMY AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 1,21 €
Average target price 2,98 €
Spread / Average Target 147%
EPS Revisions
Managers and Directors
Karsten Wildberger Chief Executive Officer
Florian Wieser Chief Financial Officer
Thomas Dannenfeldt Chairman-Supervisory Board
Karin Dohm Independent Member-Supervisory Board
Julia Goldin Independent Member-Supervisory Board
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