Unieuro trims revenue guidance on challenging economic environment
12/01/2024 17:13
Jan 12 (Reuters) - Italian consumer electronics retailer
Unieuro UNIR.MI on Friday trimmed its full-year revenue
guidance for 2023/2024 as it reported a year-on-year drop in
sales in the first nine months.
The company now expects revenue to total around 2.65 billion
to 2.70 billion euros ($2.85-2.96 billion) in the year to
end-February, down from its previously announced range of 2.70
billion to 2.75 billion euros. It confirmed its adjusted EBITDA
target of around 35 million euros.
Unieuro cited the effects of a "challenging economic
environment and its impact on household spending power" on the
crucial Black Friday campaign and Christmas season.
It reported a 6% year-on-year drop in nine-month revenue to
1.93 billion euros, while adjusted earnings before interest,
taxes, depreciation and amortisation fell 4% to 95.4 million
euros.
($1 = 0.9114 euros)
(Reporting by Alberto Chiumento; Editing by Kirsten Donovan)
((Alberto.chiumento@thomsonreuters.com))