Business
Ceconomy : Results Presentation Q4 FY 2024/25
Ceconomy : Results Presentation Q4 FY
About this update from Ceconomy Ag
17 December 2025 MediaWorld SMART, Bolzano, Italy 2 CECONOMY - MediaMarktSaturn Results Presentation Q4/FY 2024/25 on 17 December 2025 Business Update Financial Performance Outlook and summary 61 (up 3 from 2023/24) €337 m (up 180% from 2023/24) €23.1 bn (up 5.7% 1 from 2023/24) €378 m (up 24% from 2023/24) 1 Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Substantial progress in all growth businesses Record high NPS driven by customer centric strategy Roll out already in 4 countries with current expansion in 5 more Strong growth in personalised offer sales Rollout of 16 regional fulfilment centers in Germany, Spain and Türkiye Refurbished sales nearly tripled Retail Core Loyalty members 34 m 39 m 43 m 53 m 50 m Retail Core Online share 1 25% 23% 24% 26% c. 30% Retail Core Modernisation rate 30% 50% 64% 75% > 90% Retail Core Stock reach progress 2 10.3 weeks 9.1 weeks (-11%) 9.3 weeks (-10%) 8.8 weeks (-15%) -10% Space-as-a-service # Lighthouses 6 8 11 11 Up to 20 Services & Solutions Income in % of total sales 3 4.5% 4.5% 5.1% 5.6% c. 5.5% Marketplace GMV €65 m €137 m €277 m €527 m €750 m Private Label Private Label share 2.3% 2.4% 2.7% 3.0% c. 5% Retail Media Income c. €5 m €18 m €48 m €91 m c. €45 m Target reached ahead of 2025/26 1 Online share with third party sales. 2 Compared to FY 21/22. 3 Up to 2023/24 defined as Operational Services & Solutions. See appendix page 47 for further information. Gross profit and split 33% 67% 36% 64% Growth businesses consisting of Services & Solutions, Marketplace, Private Label and Retail Media Integration of MyMediaMarkt and MySaturn in Germany Expansion of loyalty program into nearly all countries Online sales driven by solid growth in visits and conversion Pick-up rate at 37% Fully on track to reach 2025/26 90% target 29 new Xpress stores and 8 new Smart stores opened in 2024/25 Expansion of small store formats and lighthouses Further cost improvements in logistics and return rates Strong growth across all product categories, especially insurances and installations Türkiye and Spain by far the strongest YoY growth contributor Experience Zones and Entrance Statements now in over 700 stores Around 25 non-endemic partners Increase of service attachment rate online Focus on growth potential in telecommunication Further expansion of existing SaaS formats Increase of SaaS partners Sales of audio line substantially supported by Robbie Williams campaign Accessories continue as the strongest product category Launch of Offsite Program to reach high-intent audiences across the open web Very strong growth in Benelux, Spain and Türkiye Newly introduced AI chatbot well-received by customers Onboarding non-endemic partners Rolled out Rollout 2026 Further expansion into Hungary and Switzerland in 2026 New verticals and integration of more services With Türkiye now active in 8 countries GMV at €527 m +90% YoY growth EBIT generation more than doubled BetterWay sales share Trade-In products (in thousands) Refurbished products (in thousands) Momentum continues BetterWay sales share now at 25%, ahead of plan (c. 20% by FY 25/26) Increased average trade-in value boosts profitability 20% 25% 487 198 Strong refurbished sales growth driven by Marketplace and campaigns Expand trade-in offering Focus on reducing emissions of products 438 68 2023/24 2024/25 2023/24 2024/25 2023/24 2024/25 Top leadership female share up 250 bps YoY Employees from 134 nations contribute to our success Advancements in international trainings Further strengthening of AI skills of all employees Net Promoter People all time high at 42 (+ 4 YoY) AI as a core tool to empower and train employees 14 CECONOMY - MediaMarktSaturn Results Presentation Q4/FY 2024/25 on 17 December 2025 MediaMarkt Core, Munich-Haidhausen, Germany Business Update Financial Performance Outlook and summary "Clear Increase" "Around 375" (Updated in July 2025) "Moderate Increase" 1 Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Reported sales (€m) Adj. EBIT 1 (€m) 21,768 22,242 22,442 23,072 growth Moderate c. 500 378 305 208 243 FY 21/22 FY 22/23 FY 23/24 FY 24/25 FY 25/26 FY 21/22 FY 22/23 FY 23/24 FY 24/25 FY 25/26 CAGR 1 21/22 - 24/25 +2% CAGR 21/22 - 24/25 +22% 1 Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Sales Performance (€m) Adjusted EBIT 1 Again strong sales performance +€72 m +5.7% 1 (+2.8%) Solid growth in all four quarters Strong 6.9% LFL in Q4 22,442 23,072 378 And even stronger profit growth 305 Full year Profitability driven by growth businesses and stable costs Gross margin expansion in Q4 (+40bp) supported EBIT growth 2023/24 2024/25 2023/24 2024/25 1 Sales growth adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. €m DACH Western/ Southern Europe Eastern Europe Others CECONOMY Sales (pre-IAS 29) 11,983 7,534 3,622 19 23,158 Growth 1 (%) +1.0 +4.0 +30.4 +5.0 +5.7 Like-for-like (%) +0.7 +3.3 +28.1 - +5.0 IAS 29 -86 -86 Sales (post-IAS 29) 3,537 23,072 Adj. EBIT 1 193 127 50 8 378 Adj. EBIT YoY change +31 +38 -23 +26 +72 Adj. EBIT 1 margin (%) 1.6% 1.7% 1.4% - 1.6% Adj. EBIT margin YoY change (bp) +20 +50 -90 - +30 Profit growth driven by DACH and West/South DACH sales growth carried by substantial performance in Switzerland and Hungary - highest EBIT improvement in Germany In Western/Southern Europe, Spain was the largest contributor both in sales and EBIT - robust EBIT growth in the Netherlands Strong sales growth in Eastern Europe continues driven by Türkiye - EBIT normalization sets in as expected. Poland in restructuring mode 1 Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Margin calculation based on reported sales pre-IAS 29 and adjusted EBIT. 2 Including Consolidation. Services & Solutions Sales 1 (€m) +12.5% 1 1,342 Strong S&S Sales growth in all countries, except Poland, substantial growth in Türkiye Warranty extensions as key contributor followed by consumer financing 1,210 2023/24 2024/25 1 Excluding portfolio effects, pre-IAS 29. Growth additionally adjusted for fx-effects. Up to 2023/24 defined as Operational Services & Solutions. See appendix page 47 for further information. 1P Online Sales 1 (€m) • Solid online market share gains in all countries except Poland +13.3% 1 Double digit online sales growth in most countries Online sales share including 5,733 Marketplace up 240bps YoY to 26% 5,118 2023/24 2024/25 1 Excluding portfolio effects, pre-IAS 29. Growth additionally adjusted for fx-effects. Gross margin 1 (%) OPEX ratio 1 (%) Gross margin improvement Growth businesses, especially Services -10bp +30bp & Solutions ensure margin uplift 18.0% 18.3% 17.4% 17.3% Strict cost discipline bears fruits Sustainable savings in location costs Increased marketing efficiency 2023/24 2024/25 2023/24 2024/25 1 Adjusted for non-recurring effects and portfolio effects, pre-IAS 29. €m 2023/24 2024/25 Change Adjusted EBIT 305 378 +72 Non-recurring items -52 -137 -85 EBIT reported 254 241 -13 Net financial result -166 -213 -48 Earnings before taxes 88 28 -62 Income taxes -11 -62 -50 Profit or loss for the period 77 -34 -111 Operating performance surged with +24% adj. EBIT increase YoY Net financial result impacted by refinancing of bond in PY and fx-effects Tax negatively impacted by IAS 29 and technical effects from previous year Net profit impacted by JD.com transaction costs of €32 m and €34 m impairment in Poland +27 -25 +83 +128 +2 +214 +4 801 337 -463 -249 165 -112 55 942 Improvement of +€218 m vs. previous year NWC increase driven by sales momentum leading to higher trade payables Tax cash-in from tax refunds for previous years Cash investments on a stable and healthy level EBITDA Δ NWC Tax Other operating cash flow Cash investments Free cash flow pre leases Lease repayments Lease adj. free cash flow 1 1 Lease-adjusted FCF subtracts the repayment of lease liabilities for better FCF comparability under IFRS 16. 24 CECONOMY - MediaMarktSaturn Results Presentation Q4/FY 2024/25 on 17 December 2025 MediaMarkt Core, Vösendorf, Austria Business Update Financial Performance Outlook and summary • − • − The outlook is adjusted for portfolio changes and does not take into account the earnings effects from companies accounted for using the equity method (Fnac Darty S.A. and Power Retail Sweden AB). Accounting effects from the application of IAS 29 in Türkiye as a hyperinflationary country are likewise unaccounted for. It does not include non-recurring effects, for example in connection with the extensive optimisation of the location portfolio and central structures as well as changes to the legal framework. We¥ic¥eäeffthenewfinancialyearwithastren$Blac¥seassn Stran$perIarmnnceinIIaarcnre, comprferßardwareand smnrtüitchennpplinnces SuBstsntisl$rawtHaFServicesBSalutianssttscHmentrste Results Presentation Q4/FY 2024/25 on 17 December 2025 Strong performance in 2024/25 in a challenging market Our experience electronics strategy translates into greater customer satisfaction Our growth businesses are an integral part of our business and continue to grow Our focus remains on cost, liquidity and profitability We are ready to accelerate our development with our new partner JD.com Positive outlook for 2025/26: Moderate Sales increase and adjusted EBIT of around €500 m 27 CECONOMY - MediaMarktSaturn 28 CECONOMY - MediaMarktSaturn Results Presentation Q4/FY 2024/25 on 17 December 2025 This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral presentation of the slides by representatives of CECONOMY AG, any question-and-answer session that follows the oral presentation, hard copies of the slides as well as any additional materials distributed at, or in connection with this presentation. 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Furthermore, the forward-looking statements are subject to risks and uncertainties including (without limitation) future market and economic conditions, the behaviour of other market participants, investments in innovative sales formats, expansion in online and omnichannel sales activities, integration of acquired businesses and achievement of anticipated cost savings and productivity gains, and the actions of public authorities and other third parties, many of which are beyond our control, that could cause actual results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this presentation. Accordingly, no representation or warranty (express or implied) is given that such forward-looking statements, including the underlying estimates, expectations and assumptions, are correct or complete. Readers are cautioned not to place reliance on these forward-looking statements. See also "Opportunity and Risk Report" in CECONOMY's most recent Annual Report for risks as of the date of such Annual Report. We do not undertake any obligation to publicly update any forward-looking statements or to conform them to events or circumstances after the date of this presentation. This presentation is intended for information only, does not constitute a prospectus or similar document and should not be treated as investment advice. It is not intended and should not be construed as an offer for sale, or as a solicitation of an offer to purchase or subscribe to, any securities in any jurisdiction. Neither this presentation nor anything contained therein shall form the basis of, or be relied upon in connection with, any commitment or contract whatsoever. CECONOMY AG assumes no liability for any claim which may arise from the reproduction, distribution or publication of the presentation (in whole or in part). The third parties whose data is cited in this presentation are neither registered broker-dealers nor financial advisors and the permitted use of any data does not constitute financial advice or recommendations. This presentation contains forecasts, statistics, data and other information relating to markets, market sizes, market shares, market positions and other industry data on the Company's business and markets (together the "market data") provided by third party sources as interpreted by us. This market data is, in part, derived from published research and additional market studies prepared primarily as a research tool and reflects estimates of market conditions based on research methodologies including primary research, secondary sources and econometric modelling. We want to point out that part of the market data used has been collected in the framework of a market survey carried out as a panel observation. The panel is a regular survey monitoring sales of specific products and product categories, using a range of distribution channels including internet, retail outlets (e.g. high street, mail order) and companies (e.g. resellers). The market data does not represent actual sales figures globally or in any given country; rather, the market data represents a statistical projection of sales in a given territory and is subject to the limitations of statistical error and adjustments at any time (e.g. reworks, changes in panel structure). The representativeness of the market data may be impacted by factors such as product categorisation, channel distribution and supplier universe identification and statistical sampling and extrapolation methodologies. The market data presented is based on statistical methods and extrapolation. In addition, market research data and trend information as interpreted or used by CECONOMY is based on certain estimates and assumptions and there can be no assurance that these estimates and assumptions as well as any interpretation of the relevant information by CECONOMY are accurate. The market research institutes which data CECONOMY used as basis for this presentation are neither registered broker dealers nor financial advisors and the permitted use of any market research data does not constitute financial advice or recommendations. Historical financial information contained in this presentation is mostly based on or derived from the consolidated (interim) financial statements for the respective period. Financial information with respect to the business of MediaMarktSaturn Retail Group is particularly based on or derived from the segment reporting contained in these financial statements. Such financial information is not necessarily indicative for the operational results, the financial position and/or the cash flow of the CECONOMY business on a stand-alone basis neither in the past nor in the future and may, in particular, deviate from any historical financial information based on corresponding combined financial statements with respect to the CECONOMY business. Given the aforementioned uncertainties, (prospective) investors are cautioned not to place undue reliance on any of this information. No representation or warranty is given and no liability is assumed by CECONOMY AG, express or implied, as to the accuracy, correctness or completeness of the information contained in this presentation. This presentation contains certain supplemental financial or operative measures that are not calculated in accordance with IFRS and are therefore considered as non-IFRS measures. We believe that such non-IFRS measures used, when considered in conjunction with (but not in lieu of) other measures that are computed in accordance with IFRS, enhance the understanding of our business, results of operations, financial position or cash flows. There are, however, material limitations associated with the use of non-IFRS measures including (without limitation) the limitations inherent in the determination of relevant adjustments. The non-IFRS measures used by us may differ from, and not be comparable to, similarly-titled measures used by other companies. Detail information on this topic can be found in CECONOMY's Annual Report 2022/23, pages 32-35. All numbers shown are as reported, unless otherwise stated. All amounts are stated in million euros (€ million) unless otherwise indicated. Amounts below €0.5 million are rounded and reported as 0. Rounding differences may occur. CEO CFO CECONOMY Investor Relations Website MediaMarktSaturn Press Website Media-Saturn Straße 1 85053 Ingolstadt Germany Kaistraße 3 40221 Düsseldorf Germany Phone +49 (211) 5408 7226 Mobile +49 (151) 4225 6418 Email [email protected] Vice President Investor Relations, Corporate Communications and Public Policy