Ceconomy : Q3 slightly better, FY sales target raised, EBIT target confirmed
>Some 5% like-for-like and adjusted EBIT improves € 9m - In Q3 2023-24 (ending June), Ceconomy sales increased 5% y-o-y on a like- for-like basis which was a notch above expectations to € 4.8bn (pre-IAS 29, inflation accounting) driven by Eastern Europe (up 42%) and West/South (up 5%) while DACH remained tough (flat). Channels: Online grew 10% and Services & Solutions increased 18%. Adjusted EBIT came in at -€ 51m (consensus: -€ 52m, ODDO BHFe: -€ 57m), i.e. also sli...Metro is a holding company. Through its subsidiaries, Co. is engaged in retail and wholesale. Co.'s operations are divided into four divisions: Metro Cash & Carry, Real, Media-Saturn and Galeria Kaufhof. The Metro Cash & Carry division operates in the cash and carry sector in Europe, Asia and Africa. The Real division is a hypermarket operator in Germany where it operates both stationary stores and an online store. The Media-Saturn division provides an assortment of brand products in consumer electronics retailing. The Galeria Kaufhof division operates department stores in Germany and Belgium. Co. is also a property manager through METRO PROPERTIES GmbH & Co. KG.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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