Ceconomy up on 'solid' FY sales, EBIT seen in upper end of guidance

Ceconomy AG

29/10/2024 08:12

** Shares of German consumer electronics group Ceconomy
 CECG.DE  are up 2.9% after it reported in-line preliminary
sales for FY 2023/24 and said its adjusted EBIT would be towards
the upper end of its guidance range of EUR 290-310 million
    ** It posts FY sales of EUR 22.4 billion ($24.2 billion),
meeting its guidance and market expectations, says Baader Helvea
which describes the result as "solid"
    ** Baader adds the specified earnings outlook implies adj.
EBIT growth of more than 23%, which "would mean that our as well
as market consensus expectations should be slightly exceeded"
    ** Up to the previous session's close, the shares were up
19.7%​ YTD

($1 = 0.9248 euros)

 (Reporting by Marianna Ciabach-Malinowska)
 ((Marianna.ciabach@tr.com))