Ceconomy Ag · XETR:CEC
Ceconomy — Q1 2024/25 Earnings Presentation
39 slides from Ceconomy's earnings presentation, Feb 11, 2025
Slide 1: Results Presentation Q1 2024/25
Smart (Ex-Gravis), Cologne, Germany Results Presentation Q1 2024/25 11 February 2025
Slide 2: 1. Business update
Xpress (Ex-melectronics), Zurich, Switzerland 1. Business update
Slide 3: Outstanding peak season
Results Presentation Q1 2024/25 on 11 February 2025 3 Outstanding peak season Excellent Q1 performance Execution of Go- + Top + Omnichannel + Attractive service + Highly motivated to-Market plan availability excellence experience employees +23% App visits All-time high +6% increase in C. 3,000 90-mi
Slide 4: Remarkably strong start to the 2024/25 fiscal year
Results Presentation Q1 2024/25 on 11 February 2025 4 Remarkably strong start to the 2024/25 fiscal year / 9.5% sales growth, fueled by Stores strong 7.8% like-for-like +9.5% +€32 m +3 points / +60bp market share gain in a sales growth1 adjusted EBIT1 NPS increase competitive market vs. PY growth vs
Slide 5: Q1 highlights: substantial growth across the board
Results Presentation Q1 2024/25 on 11 February 2025 5 Q1 highlights: substantial growth across the board Omnichannel sales Growth businesses Countries / B&M sales up +7.2%1 YoY / Services & Solutions income / Strong sales performance share strongly increased3 and improving profitability / Online sal
Slide 6: Peak season product highlights
Results Presentation Q1 2024/25 on 11 February 2025 6 Peak season product highlights IT Mobiles Domestic appliances / c. +12% sales growth YoY / c. +12% sales growth YoY / c. +8% sales growth YoY / Significant market share gain in / Substantial increase in service / Strong performance in floor care,
Slide 7: Key pledges: progress in all areas
Results Presentation Q1 2024/25 on 11 February 2025 7 Key pledges: progress in all areas Business fields KPI FY 21/22 FY 22/23 FY 23/24 Target FY 25/26 Progress Q1 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 rate 30% 50
Slide 8: Retail Core: Strengthening our omnichannel & multi-format approach
Results Presentation Q1 2024/25 on 11 February 2025 8 Retail Core: Strengthening our omnichannel & multi-format approach Prioritisation of multi-format store openings in Q1 Omnichannel highlights Formats: Strengthening our multi-format footprint +21 Xpress / Germany: five Smart stores opened in Q1 (
Slide 9: Personalised omnichannel service driving differentiation
Results Presentation Q1 2024/25 on 11 February 2025 9 Personalised omnichannel service driving differentiation Our “Signature Experiences” / Fully personalised customer journey: – Online appointment booking – Personal welcoming and tailored advice – Staying in touch via different channels / Comprehe
Slide 10: Our growth businesses are already substantial and further growing
1 III Results Presentation Q1 2024/25 on 11 February 2025 10 Our growth businesses are already substantial and further growing Reported gross profit in Q1 (in €m) / All growth businesses contributed substantially to gross profit growth €1,282 / Growth businesses include: €1,194 – Services & Solution
Slide 11: Strong support from Services & Solutions
Results Presentation Q1 2024/25 on 11 February 2025 11 Strong support from Services & Solutions +23% income increase in Q1 / Strong increase in attach rate, leading to a higher sales share / All categories improved, especially consumer financing / Strong demand for financing solutions on the Marketp
Slide 12: Both Retail Media and Marketplace are seeing vigorous growth
Results Presentation Q1 2024/25 on 11 February 2025 12 Both Retail Media and Marketplace are seeing vigorous growth Marketplace / GMV grew significantly YoY – c. +90% / Substantial growth in refurbished products with a share of c. 10% of total GMV Retail Media / Further doubling of income in Q1 / Ne
Slide 13: Eco-friendly products and services continue to enjoy high demand
Results Presentation Q1 2024/25 on 11 February 2025 13 Eco-friendly products and services continue to enjoy high demand Q1 development: sustainability KPIs BetterWay sales share Trade-in products (in thousands) Refurbished products (in thousands) +13%p. +20% +217% 25% 115 42 12% 96 13 2023/24 2024/2
Slide 14: 2. Financial performance
Automation national DC , Göttingen, Germany 2. Financial performance
Slide 15: We consistently deliver on our profitability goal
Results Presentation Q1 2024/25 on 11 February 2025 15 We consistently deliver on our profitability goal Quarterly adj. EBIT growth YoY (in €m) 8 / Well on track to reach mid-term guidance Q2 / Solid adjusted EBIT1 growth thanks to positive operating leverage Q3 2022/23 Q4 Q1 Q2 2023/24 Q3 Q4 Q1 202
Slide 16: Substantial growth in sales and EBIT in Q1
Results Presentation Q1 2024/25 on 11 February 2025 16 Substantial growth in sales and EBIT in Q1 Q1 Sales / Successful peak season with very strong LFL of 7.8% (€m) +9.5%1 (+8.4%) / Sales increase driven by both online and B&M 6,984 7,570 / Strong sales growth in all countries except Poland 2023/24
Slide 17: EBIT growth driven by DACH and Western/Southern Europe
Results Presentation Q1 2024/25 on 11 February 2025 17 EBIT growth driven by DACH and Western/Southern Europe Segments Q1 2024/25 Western/ DACH Eastern DACH Southern Others2 CECONOMY / Market share gains in all countries, €m Europe Europe +110bp share gain in Germany Sales (pre-IAS 29) 4,062 2,418 1
Slide 18: Accelerating growth in Services & Solutions
Results Presentation Q1 2024/25 on 11 February 2025 18 Accelerating growth in Services & Solutions Q1 development Services & / All Services & Solutions categories drove Q1 sales growth Solutions +23.6% / Consumer financing now available on German Marketplace with Sales1 robust growth (€m) 378 / Posi
Slide 19: Strong offering and excellent execution boosted online sales growth
Results Presentation Q1 2024/25 on 11 February 2025 19 Strong offering and excellent execution boosted online sales growth Q1 development 1P Online / Solid online market share gains Sales1 (€m) +15.9% / 1P Online sales growth driven by all regions in Q1 / Online sales share including Marketplace up
Slide 20: Q1 sales momentum translated into EBIT margin increase
Results Presentation Q1 2024/25 on 11 February 2025 20 Q1 sales momentum translated into EBIT margin increase Q1 development Gross / Absolute increase in gross profit in Q1 margin1 (%) -40bp / Gross margin impacted by shift in product mix and aggressive pricing environment, particularly in Eastern E
Slide 21: Strong operating performance fuels adj. EPS growth
Results Presentation Q1 2024/25 on 11 February 2025 21 Strong operating performance fuels adj. EPS growth Q1 development €m 2023/24 2024/25 Change Non-recurring items Adjusted EBIT 248 279 +32 / Impairment in Poland (c. -€29 m) Non-recurring items -29 -50 -20 / At equity results (-€7 m) EBIT reporte
Slide 22: Robust FCF generation in Q1
Results Presentation Q1 2024/25 on 11 February 2025 22 Robust FCF generation in Q1 Free cash flow (FCF) in Q1 2024/25 (YoY change, €m) 1,612 NWC 117 -73 4 -116 1,496 / Further normalisation of NWC, further improvement in product availability drove sales growth Tax 1,140 / Cash inflow due to tax repa
Slide 23: 3. Outlook and summary
Two Man Handling, Germany 3. Outlook and summary
Slide 24: 2024/25 sales and EBIT outlook confirmed
Results Presentation Q1 2024/25 on 11 February 2025 24 2024/25 sales and EBIT outlook confirmed // Moderate increase in fx- and portfolio-adjusted sales / All segments are expected to contribute to sales growth // Clear increase in adjusted EBIT / Improvement in adjusted EBIT driven by DACH and West
Slide 25: Demand in AI products is gaining momentum
Results Presentation Q1 2024/25 on 11 February 2025 25 Demand in AI products is gaining momentum / AI enabled laptop performed well in peak season / Substantial market share gain in this category / Strong start for Samsung Galaxy S25 series / New categories of AI-enhanced devices expected to be laun
Slide 26: Summary of Q1 results
Results Presentation Q1 2024/25 on 11 February 2025 26 Summary of Q1 results 01 02 We delivered outstanding We gained substantial market share performance in a volatile market 03 04 Our sizeable growth businesses keep We progress in leveraging data to expanding improve the customer experience 05 06
Slide 27: Disclaimer and Notes
Results Presentation Q1 2024/25 on 11 February 2025 27 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 (including all slides of this document), the oral presentation of the slides pr
Slide 28: Questions & Answers
Results Presentation Q1 2024/25 on 11 February 2025 28 Questions & Answers Dr. Karsten Wildberger Dr. Kai-Ulrich Deissner
Slide 29: Financial calendar 2024/25
Results Presentation Q1 2024/25 on 11 February 2025 29 Financial calendar 2024/25 mwb research Annual General Roadshow Roadshow Roadshow Q2/H1 2024/25 Virtual Roundtable Meeting Paris Milan London results Registration Link 18 February 26 February 05 March 06 March 13 March 15 May 2025 2025 2025 2025
Slide 30: We would be delighted to answer your questions
Results Presentation Q1 2024/25 on 11 February 2025 30 We would be delighted to answer your questions 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 Sr. Investo
Slide 31: Smart, (Ex-Gravis), Leipzig, Germany
Smart, (Ex-Gravis), Leipzig, Germany
Slide 32: Reported to adjusted EBIT bridge
Results Presentation Q1 2024/25 on 11 February 2025 32 Reported to adjusted EBIT bridge Q1 development / Others includes IAS 29 effect -€7 m and EBIT impairment for Poland -€29 m (€m) 279 / At equity investment includes -€7 m for -3 Fnac Darty of which -€6 m adjustment -41 post dilution 228 -7 Adjus
Slide 33: Reported to adjusted gross margin and OPEX ratio
Results Presentation Q1 2024/25 on 11 February 2025 33 Reported to adjusted gross margin and OPEX ratio Q1 development / IAS 29 effect: Gross 17.2 16.9 margin (%) -0.3 – Negative impact on reported gross margin – Neutral in OPEX ratio as OPEX and sales are both adjusted / Other includes mainly impai
Slide 34: Reported net working capital
Results Presentation Q1 2024/25 on 11 February 2025 34 Reported net working capital Q1 2023/24 Q1 2024/25 €m 30/09/2023 31/12/2023 Change 30/09/2024 31/12/2024 Change Inventories 2,918 3,549 631 3,114 3,694 580 Trade receivables and similar claims 490 557 67 560 697 137 Receivables due from supplier
Slide 35: Q1 2024/25 hyperinflation accounting
Results Presentation Q1 2024/25 on 11 February 2025 35 Q1 2024/25 hyperinflation accounting Impact of IAS 29, fx- and portfolio effects on Q1 sales growth / Slightly positive total net impact from Sales (% growth) IAS 29 on sales / Switching KPIs analysis to pre-IAS 29 9.5 0.0 more appropriate and c
Slide 36: Application of IAS 29, hyperinflation accounting
Results Presentation Q1 2024/25 on 11 February 2025 36 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 2024/25 Growth Fx-and Like-for- Portfolio Growth i
Slide 37: From reported to adjusted net profit — Q1
Results Presentation Q1 2024/25 on 11 February 2025 37 From reported to adjusted net profit — Q1 Reported Incl. adjustments €m Comment 2023/24 2024/25 Change 2023/24 2024/25 Change Reported EBIT 218 229 +11 218 229 +11 Impairments 0 29 +29 Poland Adjustment: IAS 29 25 7 -18 Türkiye Adjustment: At-Eq
Slide 38: Updated reporting of Services & Solutions KPI
Results Presentation Q1 2024/25 on 11 February 2025 38 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 202
Slide 39: Slide 39