Ceconomy : Trading Statement Q4/GJ 2022/23 (Englisch)

FY 2022/23 GUIDANCE DELIVERED: SOLID SALES DEVELOPMENT ABOVE PREVIOUS YEAR, VERY STRONG INCREASE IN PRELIMINARY ADJUSTED EBIT

Düsseldorf, 26 October 2023

• Total sales in FY 2022/23 grew by +4.7%1 vs. previous year to €22.2 bn with Q4 2022/23 sales increase of +2.4%1 vs. previous year.
• Very strong increase in adjusted EBIT2 for FY 2022/23 to around €240 million compared to €208 million in FY 2021/2022.
• Well positioned to achieve mid-term adjusted EBIT3 target.
• Substantial improvement in Net Promoter Score (NPS) by 3 points to 53 for FY 2022/23.

Comments from Dr Karsten Wildberger, CEO of CECONOMY AG

"We have made significant progress in the past financial year, as evidenced by our strong performance in 2022/23. We have made significant improvements in all key strategic areas. These include technology, supply chain and store transformation, to name a few. This is resonating well with our customers, as reflected in our continued increase in NPS.

For FY 2022/23, we have not only delivered solid year-on-year sales growth versus a soft market, but also a very strong year-on-year increase in preliminary adjusted EBIT, in line with the medium-term commitments we made at the Capital Markets Day. Our disciplined cost and margin management as well as service growth have strengthened both our profitability and resilience. We've transformed our business to be more agile and adaptable to respond quickly to an uncertain market environment.

With strong product availability and well-planned marketing campaigns, we anticipate the first quarter with confidence."

1. Preliminary and unaudited, adj. for currency and portfolio change effects, pre IAS 29.
2. Preliminary and unaudited, excl. associates, adj. for portfolio changes (Sweden, Portugal), pre IAS 29 and excl. non-recurring effects.
3. Excl. associates, adj. for portfolio changes (Sweden, Portugal), pre IAS 29 and excl. non-recurring effects.

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FY 2022/23 preliminary results

• Sales reached €22.2 bn, up by +4.7%1 yoy (+4.3% on a like-for-like basis).
• Product categories: Solid performance for entertainment products, particularly gaming consoles. Resilient performance for white goods, mobile phones and continued weak demand for brown goods (TV).
• Preliminary adjusted EBIT2 came in at around €240 m, representing a very strong increase in line with the guidance.

Preliminary FY sales development

Q4 2022/23 preliminary results

• Sales increase of +2.4%1 (+1.7% on a like-for-like basis) impacted by dampened consumer sentiment in most countries and a softer back to school period.
• Product categories: High demand for entertainment products, particularly for gaming consoles. Soft demand for brown goods (TV).
• Preliminary adjusted EBIT2 largely unchanged year-on-year.

Q4 Preliminary sales development

1. Adj. for currency and portfolio change effects, pre IAS 29.
2. Excl. associates, adj. for portfolio changes (Sweden, Portugal), pre IAS 29 and excl. non-recurring effects.

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APPENDIX

Store network

Financial calendar

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Contact

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Disclaimer

To the extent that statements in this document do not relate to historical or current facts, they constitute forward-looking statements. All forward-looking statements herein are based on certain estimates, expectations and assumptions at the time of publication of this document and there can be no assurance that these estimates, expectations and assumptions are or will prove to be accurate. Furthermore, the forward-looking statements are subject to risks and uncertainties including (without limitation) future market and economic conditions, the behaviour of other market participants, investments in innovative sales formats, expansion in online and omnichannel sales activities, integration of acquired businesses and achievement of anticipated cost savings and productivity gains, and the actions of public authorities and other third parties, many of which are beyond our control, that could cause actual results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this document. Accordingly, no representation or warranty (express or implied) is given that such forward-looking statements, including the underlying estimates, expectations and assumptions, are correct or complete. Readers are cautioned not to place reliance on these forward-looking statements.

This document is intended for information only, does not constitute a prospectus or similar document and should not be treated as investment advice. It is not intended as an offer for sale, or as a solicitation of an offer to purchase or subscribe to, any securities in any jurisdiction. Neither this document nor anything contained therein shall form the basis of, or be relied upon in connection with, any commitment or contract whatsoever. Historical financial information contained in this document is mostly based on or derived from the consolidated (interim) financial statements for the respective period. Financial information with respect to the business of MediaMarktSaturn Retail Group is particularly based on or derived from the segment reporting contained in these financial statements. Such financial information is not necessarily indicative for the operational results, the financial position and/or the cash flow of the CECONOMY business on a stand-alone basis neither in the past nor in the future and may, in particular, deviate from any historical financial information based on corresponding combined financial statements with respect to the CECONOMY business. Given the aforementioned uncertainties, (prospective) investors are cautioned not to place undue reliance on any of this information. No representation or warranty is given and no liability is assumed by CECONOMY AG, express or implied, as to the accuracy, correctness or completeness of the information contained in this document.

This document contains certain supplemental financial or operative measures that are not calculated in accordance with IFRS and are therefore considered as non-IFRS measures. We believe that such non-IFRS measures used, when considered in conjunction with (but not in lieu of) other measures that are computed in accordance with IFRS, enhance the understanding of our business, results of operations, financial position or cash flows. There are, however, material limitations associated with the use of non-IFRS measures including (without limitation) the limitations inherent in the determination of relevant adjustments. The non-IFRS measures used by us may differ from, and not be comparable to, similarly-titled measures used by other companies. Detail information on this topic can be found in CECONOMY's Annual Report 2021/22, pages 30-33. All numbers shown are as reported, unless otherwise stated. All amounts are stated in million euros (€ million) unless otherwise indicated. Amounts below €0.5 million are rounded and reported as 0. Rounding differences may occur.

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