Ceconomy : Weak Q3 profits and guidance cut
>Lower consumer demand in the DACH region - Ceconomy pre-released weak Q3 2021-22 earnings (ending in June): Sales rose 6% adjusted for currency and portfolio effects to € 4.6bn (consensus: € 4.4bn, ODDO BHFe: € 4.5bn), i.e. was a notch above. Due to dampened consumer sentiment, sales momentum slowed down noticeably in the course of the quarter. Adjusted EBIT decreased to -€ 109m (consensus: -€ 35m, ODDO BHFe: -€ 87m) and was materially below the consensus which we b...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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