Shares of Ceconomy AG experienced a notable rise of approximately 8 percent during morning trading on the German stock exchange. This increase follows the consumer electronics retailer's announcement of a profit in its fiscal year 2024, marking a turnaround from the previous year's loss, supported by sales growth. The company confidently forecasts further growth and remains on track to achieve its medium-term objectives.
In fiscal year 2024, Ceconomy reported a net profit of 77 million euros, a significant improvement from the previous year's loss of 37 million euros. Earnings per share stood at 0.16 euros, up by 0.24 euros from the preceding year, while adjusted earnings per share were 0.22 euros.
The company's adjusted EBIT rose by 26 percent, reaching 305 million euros, compared to 243 million euros in the previous year.
The firm saw a 5.3 percent increase in sales, which climbed to 22.4 billion euros compared to last year’s 22.2 billion euros, with growth recorded across all four quarters.
Looking forward, Ceconomy anticipates a moderate increase in currency and portfolio-adjusted total sales, with contributions from all segments. The company also expects a noteworthy rise in adjusted EBIT, primarily driven by the DACH region and Western/Southern Europe.
On the XETRA exchange, Ceconomy shares were trading at 3.1740 euros, marking a 7.52 percent increase.
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