Ceconomy AG
OTC:MTAGF
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Ceconomy AG
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Ceconomy AG
Ceconomy AG is the parent company behind MediaMarkt and Saturn, two of Europe’s best-known consumer electronics retail chains. It sells TVs, computers, smartphones, appliances, gaming gear, accessories, and related services through stores and online shops. Its customers are everyday consumers who want a place to compare products, get advice, and buy electronics from a trusted retailer. The company makes money mostly the old-fashioned retail way: it buys products from manufacturers and distributors, then sells them to shoppers at a markup. It also earns from extended warranties, delivery, installation, repair services, and financing-related offerings. In some markets it also serves business customers with electronics procurement and support. What makes Ceconomy’s business model different is its role as a large specialty retailer in a category where customers often want hands-on help before they buy. It sits between global electronics brands and end shoppers, giving those brands shelf space, promotion, and access to a broad customer base. That makes Ceconomy less like a pure online marketplace and more like a service-heavy sales channel for consumer technology.
Ceconomy AG is the parent company behind MediaMarkt and Saturn, two of Europe’s best-known consumer electronics retail chains. It sells TVs, computers, smartphones, appliances, gaming gear, accessories, and related services through stores and online shops. Its customers are everyday consumers who want a place to compare products, get advice, and buy electronics from a trusted retailer.
The company makes money mostly the old-fashioned retail way: it buys products from manufacturers and distributors, then sells them to shoppers at a markup. It also earns from extended warranties, delivery, installation, repair services, and financing-related offerings. In some markets it also serves business customers with electronics procurement and support.
What makes Ceconomy’s business model different is its role as a large specialty retailer in a category where customers often want hands-on help before they buy. It sits between global electronics brands and end shoppers, giving those brands shelf space, promotion, and access to a broad customer base. That makes Ceconomy less like a pure online marketplace and more like a service-heavy sales channel for consumer technology.
Sales and profit up: CECONOMY said H1 sales reached EUR 13.1 billion, up 4%, while adjusted EBIT rose EUR 43 million, with management saying the company remains on track to meet its full-year targets.
Guidance confirmed: Management reaffirmed its outlook for fiscal 2025/26, including a moderate increase in currency- and portfolio-adjusted sales and adjusted EBIT of around EUR 500 million.
Omnichannel gaining: Online sales grew 7.3% in H1 and 8% in Q2, while store sales also improved, reinforcing management’s view that its omnichannel model is working.
Customer engagement: Loyalty membership grew to nearly 60 million members and active loyalty users rose 26% year over year, with Net Promoter Score up 2 points to 62%.
Growth businesses expand: Services & Solutions, marketplace, retail media and other higher-margin activities continued to scale, and management said these businesses now make up about 40% of gross profit, up from 35% a year ago.
JD.com deal progressing: Management said the proposed JD.com partnership is still on track, with merger control clearances granted and closing expected in the second half of the calendar year, before the November 10 long stop date.
