Ceconomy Ag · XETR:CEC
Ceconomy — Q3/9M 2024/25 Earnings Presentation
41 slides from Ceconomy's earnings presentation, Aug 12, 2025
Slide 1: Results Presentation Q3/9M 2024/25
Milan, Italy Results Presentation Q3/9M 2024/25 12 August 2025
Slide 2: 1. Business update
SMART store, Barcelona, Spain 1. Business update
Slide 3: Strong progress in enhancing our customer experience
Results Presentation Q3/9M 2024/25 on 12 August 2025 3 Strong progress in enhancing our customer experience LOGISTICS UNIQUE CUSTOMER 50 M LOYALTY ACCELERATION SERVICE MEMBERS New regional fulfilment centres Expanding our fast delivery Achieving our goal ahead of (Germany), same day delivery service
Slide 4: We accelerate with the 10th consecutive quarter of EBIT growth
Results Presentation Q3/9M 2024/25 on 12 August 2025 4 We accelerate with the 10th consecutive quarter of EBIT growth Stores / 5.1% sales growth, with 4.4% LFL +5.1% +€20 m +2 points in a soft environment in Q3 / Strong profitability development sales growth1 adjusted EBIT1 NPS increase vs. PY growt
Slide 5: Q3 highlights: dynamic results driven by growth businesses
Results Presentation Q3/9M 2024/25 on 12 August 2025 5 Q3 highlights: dynamic results driven by growth businesses Omnichannel sales Growth businesses Countries / +3.1% YoY B&M sales1 growth / Services & Solutions3 income / Strong sales performance in strongly increased Türkiye, Switzerland and / Str
Slide 6: We are on course to deliver all key pledges
Results Presentation Q3/9M 2024/25 on 12 August 2025 6 We are on course to deliver all key pledges Business fields KPI FY 21/22 FY 22/23 FY 23/24 Target FY 25/26 Progress Q3 24/25 Retail Core Loyalty members 34 m 39 m 43 m 50 m Retail Core Online share1 25% 23% 24% c. 30% Retail Core Modernisation r
Slide 7: Higher customer satisfaction driven by AI and data
Results Presentation Q3/9M 2024/25 on 12 August 2025 7 Higher customer satisfaction driven by AI and data Customer service Trade-In product grading Data at work / Faster and accurate problem-solving / AI based grading software for IOS in / Revenue from personalised campaign thanks to AI based after-
Slide 8: Retail Media and Marketplace momentum continues
Results Presentation Q3/9M 2024/25 on 12 August 2025 8 Retail Media and Marketplace momentum continues Retail Media Marketplace Rolled out Rollout planned / Audience extension uses shopper insights to target similar / 7th country now live with Poland people on other sites and apps / Doubling GMV in
Slide 9: Our growth businesses continue to drive our profitability
1 III Results Presentation Q3/9M 2024/25 on 12 August 2025 9 Our growth businesses continue to drive our profitability Gross margin1 in Q3 / All growth businesses continue to contribute substantially to gross profit growth 18.2% / Growth businesses include: 17.4% – Services & Solutions – Marketplace
Slide 10: Sustainability KPIs on track – Strong growth in refurbished segment
Results Presentation Q3/9M 2024/25 on 12 August 2025 10 Sustainability KPIs on track – Strong growth in refurbished segment Sustainability KPIs BetterWay sales share Trade-in products (in thousands) Refurbished products (in thousands) Q3 +1%p. +10% +77% 25% 26% 113 124 50 28 9M +7%p. +6% +227% 26% 3
Slide 11: Building momentum in Q3 led to a strong 9M performance
Results Presentation Q3/9M 2024/25 on 12 August 2025 11 Building momentum in Q3 led to a strong 9M performance SALES growth1 9.5% 5.1% 5.5% 1.3% Q1 Q2 Q3 9M Adj. EBIT1 improvement 10th consecutive quarter of YoY growth 56 32 20 4 Q1 Q2 Q3 9M 1Sales adjusted for fx- and portfolio effects, pre-IAS 29.
Slide 12: 2. Financial performance
Barcelona, Spain 2. Financial performance
Slide 13: Sales growth and our growth businesses are increasing profitability
Results Presentation Q3/9M 2024/25 on 12 August 2025 13 Sales growth and our growth businesses are increasing profitability Q3 9M Sales / Q3 sales growth in all channels especially (€m) +5.1%1 +5.5%1 in online (-2.3%) (+2.2%) / Reported growth impacted in Q3 by 17,236 17,619 c. -3% currency impact a
Slide 14: Profitability improvement driven by West/South and DACH
Results Presentation Q3/9M 2024/25 on 12 August 2025 14 Profitability improvement driven by West/South and DACH Segments Q3 2024/25 development Western/ DACH Eastern DACH Southern Others2 CECONOMY / Strong sales performance in Hungary and €m Europe Europe Switzerland – Germany remains volatile Sales
Slide 15: 9M EBIT progress reaffirms track towards updated FY guidance
Results Presentation Q3/9M 2024/25 on 12 August 2025 15 9M EBIT progress reaffirms track towards updated FY guidance Segments 9M 2024/25 development Western/ DACH Eastern DACH Southern Others2 CECONOMY / EBIT improvement supported by strong €m Europe Europe performance of growth businesses, Sales (p
Slide 16: Robust Services & Solutions Sales development
Results Presentation Q3/9M 2024/25 on 12 August 2025 16 Robust Services & Solutions Sales development Q3 9M Services & / S&S sales share growth continues in Q3 Solutions +9.8% +13.6% / Strong performance in insurance and Sales1 financing solutions in Q3 (€m) 992 / Income share of total sales increas
Slide 17: Online sales remained strong in Q3
Results Presentation Q3/9M 2024/25 on 12 August 2025 17 Online sales remained strong in Q3 Q3 9M 1P Online / Performance driven by significant Sales1 (€m) +12.2% +12.3% increase in number of purchases / Online sales share including Marketplace 4,472 up 240bp YoY to 24.6% in Q3, 4,020 up 220bp YoY to
Slide 18: EBIT improvement in Q3, fueled by gross margin uplift
Results Presentation Q3/9M 2024/25 on 12 August 2025 18 EBIT improvement in Q3, fueled by gross margin uplift Q3 9M Gross / Strong gross margin improvement in Q3 margin1 (%) +80bp +20bp driven to the same extent by: – Growth businesses, particularly 17.4% 18.2% 17.6% 17.8% Services & Solutions and R
Slide 19: Q3 net profit supported by both operational and tax improvements
Results Presentation Q3/9M 2024/25 on 12 August 2025 19 Q3 net profit supported by both operational and tax improvements Q3 development €m 2023/24 2024/25 Change Non-recurring items Adjusted EBIT -51 -31 +20 / Increase mainly driven by IAS 29 in Türkiye Non-recurring items -29 -47 -19 − Hyperinflati
Slide 20: Substantial 9M EBIT improvement impacted by one-offs and fx effect
Results Presentation Q3/9M 2024/25 on 12 August 2025 20 Substantial 9M EBIT improvement impacted by one-offs and fx effect 9M development €m 2023/24 2024/25 Change Non-recurring items Adjusted EBIT 202 258 +56 / Increase mainly driven by impairment in Poland and lower At Equity results Non-recurring
Slide 21: FCF growth driven by operating performance and tax optimisation
Results Presentation Q3/9M 2024/25 on 12 August 2025 21 FCF growth driven by operating performance and tax optimisation Free cashflow (FCF) in 9M 2024/25 (YoY change, €m) 697 NWC / Strong trend improvement in Q3 (+€161 m YoY) -231 / Decline in 9M as expected due to normalisation of 52 -74 payables -
Slide 22: 3. Outlook and summary
Robbie Williams, Private Label campaign 3. Outlook and summary
Slide 23: 2024/25 Guidance specified
Results Presentation Q3/9M 2024/25 on 12 August 2025 23 2024/25 Guidance specified // Moderate increase in fx- and portfolio-adjusted sales / All segments are expected to contribute to sales growth // Around €375 m adjusted EBIT / Improvement in adjusted EBIT driven by DACH and Western/Southern Euro
Slide 24: Decisively driving bold advertising and go-to-market decisions
Results Presentation Q3/9M 2024/25 on 12 August 2025 24 Decisively driving bold advertising and go-to-market decisions / New brand campaign particularly in Germany / Exclusive events boosted by enhanced relationships highlighting our strengths over pure online retailers with strategic partners, e.g.
Slide 25: Summary of Q3 and 9M results
Results Presentation Q3/9M 2024/25 on 12 August 2025 25 Summary of Q3 and 9M results 01 02 Improving momentum in a volatile We specified our growth outlook for market FY 2024/25 03 04 Our sizeable growth businesses keep We continue to improve our expanding profitability 05 06 Our focus remains on co
Slide 26: Disclaimer and Notes
Results Presentation Q3/9M 2024/25 on 12 August 2025 26 Disclaimer and Notes This disclaimer shall apply in all respects to the entire presentation This presentation is intended for information only, does not constitute a The market research institutes which data CECONOMY used as basis for (includin
Slide 27: Questions & Answers
Results Presentation Q3/9M 2024/25 on 12 August 2025 27 Questions & Answers Dr. Kai-Ulrich Deissner Remko Rijnders CEO CFO
Slide 28: Financial calendar 2024/25
Results Presentation Q3/9M 2024/25 on 12 August 2025 28 Financial calendar 2024/25 Q4/FY 2024/25 Q4/FY 2024/25 trading statement results 28 October 17 December 2025 2025
Slide 29: We are available to answer any inquiries you might have
Results Presentation Q3/9M 2024/25 on 12 August 2025 29 We are available to answer any inquiries you might have CECONOMY Investor Relations Team Kaistr. 3 40221 Düsseldorf Germany ceconomy.de/en/investor-relations Fabienne Caron Dr. Kerstin Achterfeldt Arian Ebrahimi VP, Head of Investor Relations S
Slide 30: Appendix
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Slide 31: Reported to adjusted EBIT bridge
Results Presentation Q3/9M 2024/25 on 12 August 2025 31 Reported to adjusted EBIT bridge Q3 2024/25 9M 2024/25 / At equity investment in Q3 EBIT includes share of Fnac HY (€m) 258 -1 2025 result -22 -13 -58 165 thereof Impairment Poland: -€34 m and restructuring Poland: -€6 m -31 -20 -14 -5 -9 -78 A
Slide 32: Reported to adjusted gross margin and OPEX ratio
Results Presentation Q3/9M 2024/25 on 12 August 2025 32 Reported to adjusted gross margin and OPEX ratio Q3 2024/25 9M 2024/25 / IAS 29 effect with negative Gross 18.2 impact on both reported 17.8 17.8 17.6 margin -0.2 -0.2 -0.2 0.0 Gross margin and OPEX ratio (%) / Other includes mainly impairments
Slide 33: Reported net working capital
Results Presentation Q3/9M 2024/25 on 12 August 2025 33 Reported net working capital Q3 2023/24 Q3 2024/25 €m 31/03/2024 30/06/2024 Change 31/03/2025 30/06/2025 Change Inventories 3,108 3,132 24 3,299 3,121 -178 Trade receivables and similar claims 522 545 23 577 615 38 Receivables due from supplier
Slide 34: Application of IAS 29, hyperinflation accounting
Results Presentation Q3/9M 2024/25 on 12 August 2025 34 Application of IAS 29, hyperinflation accounting 2023/24 2024/25 €m Reported sales IAS 29 effect Sales pre-IAS 29 Reported sales IAS 29 effect Sales pre-IAS 29 Q1 6,984 -19 7,003 7,570 +15 7,555 Q2 5,334 +45 5,289 5,246 -43 5,289 Q3 4,918 +102
Slide 35: Q3/9M 2024/25 hyperinflation accounting
Results Presentation Q3/9M 2024/25 on 12 August 2025 35 Q3/9M 2024/25 hyperinflation accounting Impact of IAS 29, fx- and Portfolio effects on sales growth Sales (% growth) Q3 / Negative impact from IAS 29 accounting on Sales in Q3 and 9M 2024/25 5.1 / Switching KPIs analysis to pre-IAS 29 0.0 3.0 m
Slide 36: From reported to adjusted net profit — Q3
Results Presentation Q3/9M 2024/25 on 12 August 2025 36 From reported to adjusted net profit — Q3 Reported Incl. adjustments €m Comment 2023/24 2024/25 Change 2023/24 2024/25 Change Reported EBIT -79 -78 +1 -79 -78 +1 Impairments 0 2 +2 Poland Adjustment: IAS 29 7 14 +6 Türkiye Adjustment: At-Equity
Slide 37: From reported to adjusted net profit — 9M
Results Presentation Q3/9M 2024/25 on 12 August 2025 37 From reported to adjusted net profit — 9M Reported Incl. adjustments €m Comment 2023/24 2024/25 Change 2023/24 2024/25 Change Reported EBIT 183 165 -19 183 165 -19 Impairments 0 34 +34 Poland Adjustment: IAS 29 29 22 -7 Türkiye Adjustment: At-E
Slide 38: Store network
Results Presentation Q3/9M 2024/25 on 12 August 2025 38 Store network Stores (#) 31/03/2025 Openings Closures 30/06/2025 Germany 401 1 0 402 Austria 56 0 0 56 Switzerland 44 0 0 44 Hungary 40 0 0 40 DACH 541 1 0 542 Belgium 27 0 0 27 Italy 139 5 0 144 Luxembourg 2 0 0 2 Netherlands 54 0 0 54 Spain 1
Slide 39: Updated reporting of Services & Solutions KPI
Results Presentation Q3/9M 2024/25 on 12 August 2025 39 Updated reporting of Services & Solutions KPI Services & Solutions sales1 in €m Financial / From Q1 2024/25 our Services & Q1 Q2 Q3 Q4 FY Solutions definition only includes period Operational Services & Solutions, in line with our Key Pledge 20
Slide 40: Our commitment to sustainability is reflected in our ratings
Results Presentation Q3/9M 2024/25 on 12 August 2025 40 Our commitment to sustainability is reflected in our ratings Rating agency Scale Results for FY 22/23 Results for FY 23/24 Trend CCC B BB BBB A AA AAA Laggard Average Leader A AA Severe High Med. Low Negl. 40+ 30-40 20-30 10-20 0-10 15.8 13.3 D
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