DÜSSELDORF (dpa-AFX) – MediaMarkt and Saturn parent Ceconomy (Ceconomy St) wants to earn significantly more operationally in the new financial year. It is also realigning its dividend policy. In the future, 10 to 25 percent of profits per share will be passed on to shareholders, the SDAX company (SDAX) announced on Wednesday. In recent years there has been nothing as a result of the Convergenta transaction. Earnings per share (EPS) for the completed 2023/24 financial year were 16 cents, following a loss of 8 cents in the same period of the previous year.
The new target for the payout ratio, which is significantly below the previous one, and the earnings per share result in a mathematical dividend of between 1.6 and 4 cents for the 2023/24 financial year. Analysts surveyed by Bloomberg had previously expected a profit share of 7.5 cents on average. Ceconomy most recently paid a dividend of 17 cents for the 2020/21 financial year.
In the new financial year (2024/25), which has been running since October, CEO Karsten Wildberger and CFO Kai-Ulrich Deissner want to “moderately” increase group sales adjusted for currency and portfolio effects. Earnings before interest and taxes (EBIT) adjusted for special effects, on the other hand, should increase “significantly”. The businesses in Germany, Austria, Switzerland and the countries in Western and Southern Europe should generate more operating profit.
Thanks to strict cost controls, Ceconomy was back in the black in the past financial year: net profit was 77 million euros. The year before, the company had posted a loss of 37 million euros. However, analysts had hoped for more.
At the end of October, the board of directors had already announced an increase in currency and portfolio-adjusted sales of a good 5 percent to 22.4 billion euros based on preliminary key data. Earnings before interest and taxes (EBIT) adjusted for special effects should be in the upper half of 290 to 310 million euros. In fact, Ceconomy brought in 305 million euros in the past year./ngu/mis/men
Selected leverage products on Ceconomy St.
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Ceconomy St.
The leverage must be between 2 and 20
Advertising