Ceconomy Ag Ord (MTAGF) Q1 2021 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our Q1 results call. With me today are CEO Bernard Duttmann and our CFO Karen Sonnmoser. They will guide you through today's presentation. Before we start, let me briefly address the usual formalities. Firstly, please be aware that this call is being recorded. A replay will be available on our website later today. Secondly, please keep in mind that today's presentation and potentially also some answers to your questions during the Q&A sessions may contain forward-looking statements. For additional information in this context, please refer to the disclaimer. But now, let me hand over to our CEO, starting with the highlights of the first quarter. Please go ahead. Good morning, everyone, and thank you for joining our call. We are looking back at a quarter which was again exceptional in many ways. Ladies and gentlemen, it was one of the best quarters in the company's recent history. It was also the quarter in which we reached a key milestone, namely the agreement with Convergenta on the acquisition of the minority stake in MediaMarkt.on. At the same time, we showed you our way forward and our ambition to become customers' first choice. Yet, it was also a quarter when the second wave of the pandemic struck and impacted our business again. I remember when we last met virtually at our CMD. Mid-December, we had just passed extremely successful weeks of our peak trading period. But then we started to face an uncertain Christmas business with the return of COVID-19-related restrictions in several countries. I'll give you some more details in a minute. Looking back at the entire quarter, I'm very pleased with the continued strong customer demand and high spending on consumer electronic products. In our view, it was a combination of several factors. A...