Saturday , May 21 2022

Express Stock Exchange – ROUND: Economy Reduces Losses


Electronics retailer Ceconomy
maintained its net loss in the third fiscal quarter.
This also affected the sale of the remaining shares in
Trading Group Subway Positive Like In SDax
announced the company on Tuesday in Dusseldorf. Last year
there were big write-offs on the subway bet that
The result of the economy is additionally burdensome.

Therefore, the net loss improved in the three months to the end
June from the same period last year from 90 million to 62
Millions of euros. As operations continued, the minus 104 dropped
Millions to 48 million. After the first nine months of
During the financial year, the Group was here in the profit zone
come back.

In the day-to-day business, there was a former subway affiliate
But due to the ongoing group restructuring, they are losing ground. on
Operating loss (Ebit) deteriorated significantly in the quarter
and amounted to EUR 126 million after a loss of EUR 30 million
in the previous year. The cost of the Ceconomy Savings Program
EUR 80 million.

Adjusted, the operating business deficit is 45 million
The euro was thus slightly higher than the analysts
predicts. The company led to the blade
Competition that Ceconomy also met with promotions for discounts
a high comparable base from the previous year. Sales are stagnant
EUR 4.6 billion. Adjusted for currency fluctuations and increases in
or sales, Ceconomy reported a slight increase of 0.2%.
Last year, the World Cup was business
propulsion. Before such major events, the paragraph breaks new ground
Televisions are usually strong.

Online commerce can only increase its turnover by 1.7 percent
an increase and now represent 13 percent of Ceconomy's revenue. a
First of all, the company has underperformed
in Germany. So Ceconomy has offers for free postage
Limited deliveries. In addition, the company had in the previous year
benefits of mobile communications.

The implementation of this cost-effectiveness program is in place
Fully on schedule, the management explained. With job tips
they agreed on the planned job cuts. The new one
Leadership in the cast by March Chief of Ceconomy Jörn
Werner and media chief Saturn Ferran Revertor are trying to get one
Bring back the success group. So did the Reverter in April
has announced hundreds of jobs in the electronic giant's administration
dismantling. Elsewhere, the red pencil is attached: The
The peak of the economy contracted on two boards on June 1st.

Like managing a corporation that is under acute
Online competition is suffering, make strategic progress again
wants to be made public at the end of the year,
Werner announced.

The coin sticks to its forecast. For the electricity
Fiscal year 2018/19 (until the end of September), the Executive Board is closed
a slight increase in sales in the long run. Operating profit is probable
it declines slightly, given the contributions from participation in
Invoice French competitor Fnac Darty. About Fnac Darty
the company expects a profit of 22 million
Euro. Exchange rate fluctuations, buying and selling of
Parts of the business as well as costs of restructuring the group
The forecast economy also aus./nas/stw/mis

    ISIN DE0007257503 DE000BFB0019

AXC0103 2019-08-13 / 08: 41

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