Ceconomy targets 60% increase in adjusted EBIT by 2028/29

information fournie par Reuters •09/07/2026 à 10:45

German electronics retailer Ceconomy

CECG.DE said on Thursday it aimed to reach adjusted earnings before interest and tax of €800 million ($915 million) by the 2028/29 financial year, as the company set new medium-term targets.

* The company, which operates Saturn and MediaMarkt stores, further said it aimed to reach net sales of €24 billion and a free cash flow of around €300 million.

* Strict cost discipline and expected synergies from JD.com's acquisition of the company are expected to help Ceconomy reach these targets, it added.

* Ceconomy also said it expects all approvals for its acquisition by JD.com to be granted in the second half of 2026.

* "We want to separate Saturn from MediaMarkt," Ceconomy CEO Remko Rijnders told Reuters, adding that Saturn will focus on products that are innovative and trendy.

($1 = 0.8745 euros)

(Reporting by Matthias Inverardi; Writing by Tristan Veyet; Editing by Jan Harvey)