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Stock in focus: Ceconomy | company abroad

After the market closed on Thursday, the parent company of Media Markt and Saturn published a statement adjusting its forecast. Ceconomy were down sharply in morning trade on Friday. In the meantime, the titles were down 25%. According to the company, significantly changed economic conditions are affecting it.

The company, headquartered in Düsseldorf, is now assuming currency-adjusted total sales at the previous year’s level. In 2020/21, Ceconomy generated €21.4 billion. Originally, slight growth compared to the previous year was now forecast. The profit warning is even clearer in the operating result. The company now expects an adjusted EBIT of between €150 million and €210 million, after €237 million in the previous year. Before the adjustment, management expected a significant increase compared to the previous year.

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