Slide 1: Results Presentation Q4/FY 2023/24
Hamburg, Germany Results Presentation Q4/FY 2023/24 18 December 2024
Slide 2: 1. Business update
Vösendorf, Austria 1. Business update
Slide 3: Substantial progress in transforming our business in the last two years
Results Presentation Q4/FY 2023/24 on 18 December 2024 3 Substantial progress in transforming our business in the last two years Sales €22.4 bn EBIT 1 €305 m (up 8%1 from FY 21/22) (up 47% from FY 21/22) NPS 58 FCF €119 m (up 8 from FY 21/22) (up €742 m from FY 21/22) 1Sales adjusted for fx- and por
Slide 4: We further strengthened our business in 2023/24
Results Presentation Q4/FY 2023/24 on 18 December 2024 4 We further strengthened our business in 2023/24 Financial stability Customer experience Strengthened omnichannel Delivered updated guidance and secured debt Achieved a new all-time high NPS of 58 (+5 YoY) Upgraded online backend infrastructure
Slide 5: Our growth businesses are already substantial and further growing
Results Presentation Q4/FY 2023/24 on 18 December 2024 5 Our growth businesses are already substantial and further growing Simplified illustration Adj. EBIT1 split: / All four growth businesses increased substantially: – Operational Services & Solutions – Marketplace €305 m – Private Label – Retail
Slide 6: In FY 23/24 the execution of our strategy continued to pay off
Results Presentation Q4/FY 2023/24 on 18 December 2024 6 In FY 23/24 the execution of our strategy continued to pay off Key financial figures FY 22/23 FY 23/24 Change Net sales €22.2 bn €22.4 bn +5.3%1 / Sales growth driven by strong 4.1% like-for-like Adjusted EBIT2 €243 m €305 m +26% / Strong incr
Slide 7: Annual update of key pledges: progress in all areas
Results Presentation Q4/FY 2023/24 on 18 December 2024 7 Annual update of key pledges: progress in all areas Business fields KPI FY 21/22 FY 22/23 Progress FY 23/24 Target FY 25/26 Retail Core Loyalty members 34 m 39 m 43 m 50 m Retail Core Online share1 25% 23% 24% c. 30% Retail Core Modernisation
Slide 8: We are on track to reach FY 25/26 Retail Core targets
Results Presentation Q4/FY 2023/24 on 18 December 2024 8 We are on track to reach FY 25/26 Retail Core targets KPI FY 2022/23 FY 2023/24 FY 2025/26 Loyalty members / Better customer engagement thanks to enhanced online customer Loyalty members 39 m 43 m 50 m experience and promotion of membership be
Slide 9: Putting data to work: how we increasingly leverage our loyalty base
Results Presentation Q4/FY 2023/24 on 18 December 2024 9 Putting data to work: how we increasingly leverage our loyalty base Simplified Conception Putting data to work: Personalised campaigns, tailored to our customers How we increasingly leverage our loyalty base / Campaigns optimisation based on p
Slide 10: Operational Services & Solutions on the rise
Results Presentation Q4/FY 2023/24 on 18 December 2024 10 Operational Services & Solutions on the rise Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Doubling growth rate vs 2022/23 / +€167 m (+17%) income growth in FY 2023/24 Operational Income in Services & % of total 4.5% 5.1% c. 5.5% / Ove
Slide 11: Doubling of the Marketplace GMV in FY 2023/24
Results Presentation Q4/FY 2023/24 on 18 December 2024 11 Doubling of the Marketplace GMV in FY 2023/24 Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Marketplace live in 5 countries (80% group sales) / c. 2.0 m SKUs on offer, c. 1,600 vendors (+49% YoY) Marketplace GMV €137 m €277 m €750 m /
Slide 12: Our new approach to private label is bearing fruits
Results Presentation Q4/FY 2023/24 on 18 December 2024 12 Our new approach to private label is bearing fruits Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Increase in Private Label share / Accelerated growth in FY 2023/24 quarter over quarter Sales / Update of Private Label design and brand
Slide 13: Retail Media is ahead of plan and targets now triple digit income
Results Presentation Q4/FY 2023/24 on 18 December 2024 13 Retail Media is ahead of plan and targets now triple digit income Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Substantial progress in Retail Media / Strong demand by industry partners Retail Media Income €18 m €48 m c. €45 m / Roll-o
Slide 14: Continued growth for eco-friendly products and services
Results Presentation Q4/FY 2023/24 on 18 December 2024 14 Continued growth for eco-friendly products and services Sustainability KPIs BetterWay sales share Trade-in products (in thousands) Refurbished products (in thousands) Q4 +11%p. +37% +290% 24% 13% 28 74 101 7 FY +8%p. +94% +280% 20% 424 68 12%
Slide 15: Major steps in reducing our carbon footprint
Results Presentation Q4/FY 2023/24 on 18 December 2024 15 Major steps in reducing our carbon footprint Progress in climate action Scope 3 emissions in thousand tCO2e / Scope 3 emissions are 99.7% of our carbon footprint and our main focus / Reduction driven by emphasis on sustainable products / 100%
Slide 16: Enhancing employee experience is a key pillar of our strategy
Results Presentation Q4/FY 2023/24 on 18 December 2024 16 Enhancing employee experience is a key pillar of our strategy Promoting professional equality and developing skills Employer awards in FY 23/24 / Net Promoter People (NPP) score at new all-time high / Success in supporting diversity through i
Slide 17: 2. Financial performance
Distribution Center Erfurt, Germany 2. Financial performance
Slide 18: We delivered our guidance 2023/24
Results Presentation Q4/FY 2023/24 on 18 December 2024 18 We delivered our guidance 2023/24 Initial Guidance Updated Guidance Results 2023/24 (Dec 2023) Sales1 “Slight Increase” “Moderate Increase” (Updated in August 2024) +5.3% Adjusted “Clear Increase” “Between €290 m and €310 m” €305m EBIT1 (Upda
Slide 19: Our growth businesses are significant in size and show strong progress
1 III Results Presentation Q4/FY 2023/24 on 18 December 2024 19 Our growth businesses are significant in size and show strong progress Gross profit split FY 21/22 FY 23/24 FY 25/261 Growth Businesses 32% 28% 68% 72% Retail Core Growth businesses consisting of Operational Services & Solutions, Market
Slide 20: Our strategy is paying off
Results Presentation Q4/FY 2023/24 on 18 December 2024 20 Our strategy is paying off Net sales (in €m) Adj. EBIT1 (in €m) Slightly above market growth >€500 m a a pl pl n n 22,242 22,442 h 21,768 th t G row 305 G ro w 243 208 FY 21/22 FY 22/23 FY 23/24 FY 25/26 FY 21/22 FY 22/23 FY 23/24 FY 25/26 CA
Slide 21: Sales and EBIT in Q4 and FY 2023/24 confirm the upward trend
Results Presentation Q4/FY 2023/24 on 18 December 2024 21 Sales and EBIT in Q4 and FY 2023/24 confirm the upward trend Q4 FY Sales / Strong sales growth in all four quarters of (€m) +6.3%1 +5.3%1 the year (-2.6%) (+0.9%) 22,442 / Solid underlying like-for-like performance 22,242 of 4.1% in FY (4.5%
Slide 22: FY 2023/24 performance driven by West/South and DACH
Results Presentation Q4/FY 2023/24 on 18 December 2024 22 FY 2023/24 performance driven by West/South and DACH Segments FY 2023/24 Western/ DACH Eastern DACH Southern Others2 CECONOMY / Market share gain in the region. Sales €m Europe Europe growth in Austria and Hungary, slightly Sales (pre-IAS 29)
Slide 23: Strong EBIT development in DACH in Q4 2023/24
Results Presentation Q4/FY 2023/24 on 18 December 2024 23 Strong EBIT development in DACH in Q4 2023/24 Segments Q4 2023/24 Western/ DACH Eastern DACH Southern Others2 CECONOMY / Market share gains in all countries, €m Europe Europe relatively soft market demand in Germany Sales (pre-IAS 29) 2,661 1
Slide 24: Our Services & Solutions businesses continue to steam ahead
Results Presentation Q4/FY 2023/24 on 18 December 2024 24 Our Services & Solutions businesses continue to steam ahead Q4 FY Services & / Q4 highlights: Solutions +15.0% +12.4% – Retail Media income tripled Sales1 – Marketplace GMV doubled (€m) 1,483 – significant increase in Operational S&S driven b
Slide 25: First party (1P) Online Sales increased further in Q4
Results Presentation Q4/FY 2023/24 on 18 December 2024 25 First party (1P) Online Sales increased further in Q4 Q4 FY 1P Online / Solid online market share gains Sales1 (€m) +10.1% +7.3% / 1P Online sales growth driven by all regions in Q4 and FY 2023/24 5,118 / Online sales share including Marketpl
Slide 26: FY EBIT margin driven by gross margin and OPEX improvements
Results Presentation Q4/FY 2023/24 on 18 December 2024 26 FY EBIT margin driven by gross margin and OPEX improvements Q4 FY Gross / Gross margin improvement in FY 23/24 margin1 (%) -60bp +10bp driven by growth businesses / Q4 gross margin impacted by competitive 19.9% 19.3% 17.9% 18.0% pressure, par
Slide 27: Major efficiency program delivered, further initiatives in progress
Results Presentation Q4/FY 2023/24 on 18 December 2024 27 Major efficiency program delivered, further initiatives in progress Run rate savings (€m) Restructuring costs (€m) ✓ 130 -95 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Run rate Q4 from Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cum end of 2023/24 2022/23 2023/24 2022/23 2023/24 / €2
Slide 28: Our operating performance led to a substantial rise in FY EPS
Results Presentation Q4/FY 2023/24 on 18 December 2024 28 Our operating performance led to a substantial rise in FY EPS Full year €m 2022/23 2023/24 Change Non-recurring items Adjusted EBIT 243 305 +62 / Restructuring program (-€29m). Hyperinflation Türkiye Effects (IAS 29) (-€30 m) Non-recurring it
Slide 29: From adjusted EBIT to net profit Q4 2023/24
Results Presentation Q4/FY 2023/24 on 18 December 2024 29 From adjusted EBIT to net profit Q4 2023/24 Q4 €m 2022/23 2023/24 Change Non-recurring items Adjusted EBIT 94 103 +9 / Restructuring program (-€25 m) Non-recurring items -108 -33 +76 / Hyperinflation Türkiye Effects (IAS 29, -€2 m) EBIT repor
Slide 30: Substantial FCF generation supported by EBITDA and tax uplift
Results Presentation Q4/FY 2023/24 on 18 December 2024 30 Substantial FCF generation supported by EBITDA and tax uplift Free cash flow (FCF) in FY 2023/24 (YoY change, €m) NWC -28 916 190 / Better trade payables management more than offset -240 higher stocks to secure product availability Tax -251 5
Slide 31: Our prudent financial policy is supported by clear commitments
Results Presentation Q4/FY 2023/24 on 18 December 2024 31 Our prudent financial policy is supported by clear commitments CMD 2023 commitments Significantly strengthened financial KPIs in FY 2023/24 Leverage ratio 1.7x / Substantial YoY improvement (1.9x in FY 22/23) (Net debt/adj. EBITDA) / Leverage
Slide 32: 3. Outlook and summary
Munich, Germany 3. Outlook and summary
Slide 33: 2024/25 sales and EBIT outlook
Results Presentation Q4/FY 2023/24 on 18 December 2024 33 2024/25 sales and EBIT outlook // 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 Western/Sou
Slide 34: Black season positively kicked off the new fiscal year
Results Presentation Q4/FY 2023/24 on 18 December 2024 34 Black season positively kicked off the new fiscal year / Strong performance across all regions / Successful marketing campaigns backed by excellent product availability / Small domestic appliances (SDA), telecom and IT were particularly sough
Slide 35: Summary of Q4 and FY results
Results Presentation Q4/FY 2023/24 on 18 December 2024 35 Summary of Q4 and FY results 01 02 We performed strongly in FY 2023/24 Solid market share gains in a volatile in a challenging market CE market 03 04 Our growth businesses, already Our strategy continues to elevate the substantial in size, co
Slide 36: Disclaimer and Notes
Results Presentation Q4/FY 2023/24 on 18 December 2024 36 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 this (i
Slide 37: Questions & Answers
Results Presentation Q4/FY 2023/24 on 18 December 2024 37 Questions & Answers Dr. Karsten Wildberger Dr. Kai-Ulrich Deissner
Slide 38: Financial calendar 2024/25
Results Presentation Q4/FY 2023/24 on 18 December 2024 38 Financial calendar 2024/25 Q1 2024/25 Annual General Q2/H1 2024/25 Q3/9M 2024/25 Q4/FY 2024/25 Q4/FY 2024/25 results Meeting results results Trading Statement results 11 February 26 February 15 May 12 August 28 October 17 December 2025 2025 2
Slide 39: We would be delighted to answer your questions
Results Presentation Q4/FY 2023/24 on 18 December 2024 39 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. Inve
Slide 40: Appendix
Hamburg, Germany
Slide 41: We have made progress on sustainability
Results Presentation Q4/FY 2023/24 on 18 December 2024 41 We have made progress on sustainability Strong progress across main external ESG ratings Validation of our carbon reduction ambitions SBTi validation Rating company 2022/23 Update 2023/24 / In May 2024, targets for a better carbon footprint w
Slide 42: Reported EBIT bridge & portfolio effects
Results Presentation Q4/FY 2023/24 on 18 December 2024 42 Reported EBIT bridge & portfolio effects Q4 2023/24 / Others includes IAS 29 effect -€2 m in Q4 EBIT (and -€30 m in FY 2023/24) (€m) 103 / At equity investment includes -€2 m in Q4 for Fnac Darty (FY 2023/24 at equity -25 investment includes
Slide 43: Reported to adjusted gross margin and OPEX ratio
Results Presentation Q4/FY 2023/24 on 18 December 2024 43 Reported to adjusted gross margin and OPEX ratio FY 2023/24 / IAS 29 effect: Gross 18.0 17.7 -0.4 – negative impact on reported gross margin (%) margin – Neutral in OPEX ratio as OPEX and sales are adjusted concurrently / Other includes mainl
Slide 44: Reported net working capital
Results Presentation Q4/FY 2023/24 on 18 December 2024 44 Reported net working capital Q4 2022/23 Q4 2023/24 €m 30/06/2023 30/09/2023 Change 30/06/2024 30/09/2024 Change Inventories 2,907 2,918 11 3,132 3,114 -18 Trade receivables and similar claims 446 490 44 545 560 15 Receivables due from supplie
Slide 45: Q4/FY 2023/24 hyperinflation accounting
Results Presentation Q4/FY 2023/24 on 18 December 2024 45 Q4/FY 2023/24 hyperinflation accounting Impact of IAS 29, fx- and Portfolio effects on Q4/FY Sales growth / Slightly positive total net impact from Sales (% growth) Q4 IAS 29 on sales in FY 2023/24 – Strongly 6.3 negative impact for Q4 sales
Slide 46: Application of IAS 29, hyperinflation accounting
Results Presentation Q4/FY 2023/24 on 18 December 2024 46 Application of IAS 29, hyperinflation accounting 2022/23 2023/24 €m Reported sales IAS 29 effect Sales pre-IAS 29 Reported sales IAS 29 effect Sales pre-IAS 29 Q1 7,066 -15 7,080 6,984 -19 7,003 Q2 5,302 +32 5,270 5,334 +45 5,289 Q3 4,527 -28
Slide 47: From reported to adjusted net profit — Q4
Results Presentation Q4/FY 2023/24 on 18 December 2024 47 From reported to adjusted net profit — Q4 Reported Incl. adjustments €m 2022/23 2023/24 Change 2022/23 2023/24 Change Comment Reported EBIT -14 71 +84 -14 71 +84 Adjustment: Portfolio -17 -4 +13 Sweden and Portugal Adjustment: IAS 29 -39 2 +4
Slide 48: From reported to adjusted net profit — FY
Results Presentation Q4/FY 2023/24 on 18 December 2024 48 From reported to adjusted net profit — FY Reported Incl. adjustments €m 2022/23 2023/24 Change 2022/23 2023/24 Change Comment Reported EBIT -21 254 +275 -21 254 +275 Adjustment: Portfolio 66 0 -67 Sweden and Portugal Adjustment: IAS 29 -21 30
Slide 49: Sales and stores per country
Results Presentation Q4/FY 2023/24 on 18 December 2024 49 Sales and stores per country Sales (€m) Sales (€m) Stores (#) Stores (#) Openings Closures FY 2022/23 FY 2023/24 30/09/2023 30/09/2024 Germany 9,756 9,530 398 1 -3 396 Austria 1,277 1,327 54 1 0 55 Switzerland 575 568 25 0 0 25 Hungary 431 44
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