Rising sales of television sets, higher retail media revenues and strong growth for the marketplace give Ceconomy, parent company of MediaMarkt, a higher than expected increase in sales and profits.
Online grows by double digits
In the third quarter of its broken financial year, Ceconomy saw sales rise 6.6% to 4.92 billion euros – comparable sales grew 5.2%. Operating profit (EBIT) rose by 53 million euros to 202 million euros compared to last year. With this, the parent company of electronics chains MediaMarkt and Saturn is doing better than analysts had expected.
The strong results are partly due to the past European Football Championship, says top executive Karsten Wildberger in the press release: the retailer sold substantially more television sets. Increasing online sales also contributed to growth: e-commerce accounted for 1 billion euros in the third quarter, up 10.9%. Including the net merchandise value of the marketplace, the online revenue share grew to 22.1%. Retail media revenues doubled to 18 million euros.
