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Ceconomy AG (CECG.DE)

CECG.DE on Xetra

4.19EUR
19 Oct 2020
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Latest Key Developments (Source: Significant Developments)

Ceconomy AG Appoints Bernhard Düttmann For Further Twelve Months As Chairman Of Board
Thursday, 17 Sep 2020 

Sept 16 (Reuters) - Ceconomy AG ::DGAP-ADHOC: CECONOMY AG: SUPERVISORY BOARD OF CECONOMY AG APPOINTS DR BERNHARD DÜTTMANN FOR FURTHER TWELVE MONTHS AS CHAIRMAN OF THE MANAGEMENT BOARD.PROCESS FOR LONG-TERM PLACEMENT OF CEO POSITION HAS ALREADY BEEN INITIATED.  Full Article

Ceconomy Q3 Adjusted EBIT Loss Of EUR 45 Mln
Thursday, 13 Aug 2020 

Aug 13 (Reuters) - CECONOMY ::Q3 SALES DOWN 8.4% ON A CURRENCY- AND PORTFOLIO-ADJUSTED BASIS AT AROUND EUR 4.1 BILLION.Q3 ADJUSTED EBIT LOSS OF EUR 45 MILLION AT PREVIOUS YEAR’S LEVEL (Q3 2018/19: LOSS OF EUR 43 MILLION).SEES FY EBIT BETWEEN EUR 165 MILLION AND EUR 185 MILLION, NOT CONSIDERING EARNINGS EFFECTS FROM COS ACCOUNTED FOR USING EQUITY METHOD.FOR FY NOW EXPECTS ONLY A SLIGHT DECLINE OF TOTAL SALES ADJUSTED FOR CURRENCY EFFECTS VERSUS YEAR AGO.  Full Article

Ceconomy Considers Closure Of Loss-Making Stores Across Europe
Wednesday, 5 Aug 2020 

Aug 5 (Reuters) - CECONOMY AG ::CONFIRMS TO EVALUATE INTRODUCTION OF A GROUP-WIDE STANDARDIZED ORGANIZATIONAL STRUCTURE.IN VIEW OF DECLINING CUSTOMER FREQUENCIES AS A RESULT OF COVID-19 PANDEMIC, COMPANY IS ALSO CONSIDERING CLOSURE OF LOSS-MAKING STORES ACROSS EUROPE TO A LIMITED EXTENT.ACCORDING TO CURRENT PLANNING STATUS, IMPLEMENTATION OF POTENTIAL MEASURES COULD LEAD TO • EXPENSES TOTALLING APPROXIMATELY EUR 180 MILLION AND • SUSTAINABLE SAVINGS OF SLIGHTLY MORE THAN EUR 100 MILLION PER YEAR..A TOTAL OF UP TO 3,500 FTES COULD BE REDUCED, PRIMARILY IN FOREIGN EUROPEAN COUNTRIES.IN EVENT OF A POSSIBLE IMPLEMENTATION OF NEW OPERATING MODEL, A TOTAL OF UP TO 3,500 FTES COULD BE REDUCED, PRIMARILY IN FOREIGN EUROPEAN COUNTRIES..RESPECTIVE BODIES ARE SCHEDULED TO DECIDE ON THIS MATTER ON 12 AUGUST 2020.  Full Article

Ceconomy Expects FY EBIT Between EUR 165 Mln And EUR 185 Mln
Thursday, 16 Jul 2020 

July 16 (Reuters) - CECONOMY AG ::PRELIMINARY RESULTS IN THE THIRD QUARTER ABOVE EXPECTATIONS; UPDATE OF THE OUTLOOK FOR FINANCIAL YEAR 2019/20.EXPECTS SALES ADJUSTED FOR CURRENCY EFFECTS AND PORTFOLIO CHANGES TO DECLINE BY APPROX. 8.4 PER CENT IN Q3 2019/20.FURTHERMORE, FOR Q3 2019/20 CECONOMY EXPECTS ADJUSTED GROUP EBIT TO BE AT SAME LEVEL AS LAST YEAR (COMPARATIVE PREVIOUS-YEAR FIGURE: EUR -43 MILLION).EARNINGS WERE POSITIVELY IMPACTED IN PARTICULAR BY SAVINGS FROM INITIATED COVID-19 COST MEASURES AS WELL AS SALES GROWTH IN MAY AND JUNE..CECONOMY HAD PREVIOUSLY EXPECTED A DECLINE IN ADJUSTED GROUP EBIT FOR Q3 OF 2019/20..FOR FULL YEAR 2019/20 CECONOMY NOW EXPECTS ONLY A SLIGHT DECLINE OF TOTAL SALES ADJUSTED FOR CURRENCY EFFECTS COMPARED TO PREVIOUS YEAR.EXPECTS AN EBIT FOR FINANCIAL YEAR 2019/20 BETWEEN EUR 165 MILLION AND EUR 185 MILLION.FOR FULL YEAR 2019/20 CECONOMY NOW EXPECTS ONLY A SLIGHT DECLINE OF TOTAL SALES ADJUSTED FOR CURRENCY EFFECTS COMPARED TO PREVIOUS YEAR.  Full Article

Ceconomy Concludes Syndicated Loan Of EUR 1.7 Bln
Tuesday, 12 May 2020 

May 12 (Reuters) - CECONOMY AG ::CECONOMY AG INCREASES FINANCIAL FLEXIBILITY WITH CONCLUSION OF EUR 1.7 BILLION SYNDICATED LOAN.LOAN AGREEMENT HAS NOW BEEN CONCLUDED AND COMPRISES A COMMITMENT OF EUR 1,360 MILLION FROM KFW AND EUR 340 MILLION IN LOAN COMMITMENTS FROM BANKING CONSORTIUM.SYNDICATED LOAN COMPLEMENTS CECONOMY'S EXISTING COMMITTED CREDIT FACILITIES AMOUNTING TO EUR 980 MILLION.TERM OF NEW LOAN HAS BEEN SET UNTIL DECEMBER 2021 WITH A ONE-YEAR EXTENSION OPTION AT DISCRETION OF KFW.  Full Article

Ceconomy AG Receives Approval For Syndicated Loan Through German Federal Government
Thursday, 30 Apr 2020 

April 29 (Reuters) - Ceconomy AG ::DGAP-ADHOC: CECONOMY AG: CECONOMY AG RECEIVES APPROVAL FOR SYNDICATED LOAN THROUGH GERMAN FEDERAL GOVERNMENT.CECONOMY AG - ONE CONDITION OF SYNDICATED LOAN IS THAT CECONOMY DE FACTO SUSPENDS DIVIDEND PAYMENTS FOR DURATION OF CREDIT FACILITY.CECONOMY AG - TERM HAS BEEN SET UNTIL DECEMBER 2021 WITH A ONE-YEAR EXTENSION OPTION AT DISCRETION OF KFW.CECONOMY- RECEIVED APPROVAL OF GERMAN GOVERNMENT FOR PARTICIPATION OF KFW IN A SYNDICATED REVOLVING LOAN FACILITY WITH A VOLUME OF EUR 1.7 BILLION.  Full Article

Ceconomy Expects Decision On Tuesday On Credit Line From KfW - Sources
Tuesday, 21 Apr 2020 

April 21 (Reuters) - Ceconomy::EXPECTS A DECISION ON TUESDAY ON A CREDIT LINE FROM STATE DEVELOPMENT BANK KFW - SOURCES.CECONOMY SPOKESWOMAN DECLINES TO COMMENT.  Full Article

Ceconomy Q2 Adjusted EBIT Turns To Loss Of About EUR 131 Million
Friday, 17 Apr 2020 

April 17 (Reuters) - CECONOMY AG ::PRELIMINARY FIGURES FOR THE SECOND QUARTER OF FINANCIAL YEAR 2019/20: SALES AND EARNINGS DUE TO COVID-19 BELOW PREVIOUS YEAR.EXPECTS FOR Q2 2019/20 SALES ADJUSTED FOR CURRENCY EFFECTS AND PORTFOLIO CHANGES TO DECLINE BY APPROX. -6.6 PER CENT.IN FIRST TWO MONTHS OF Q2 PRIOR TO OUTBREAK OF COVID-19 PANDEMIC, CECONOMY RECORDED CURRENCY AND PORTFOLIO-ADJUSTED SALES GROWTH OF 3.7 PER CENT..FOR Q2 2019/20 CECONOMY EXPECTS AN ADJUSTED EBIT OF AROUND EUR -131 MILLION (COMPARATIVE PREVIOUS-YEAR FIGURE: EUR 26 MILLION).  Full Article

Ceconomy Expects Impact On Sales And Earnings Due To Covid-19
Wednesday, 18 Mar 2020 

March 18 (Reuters) - CECONOMY AG ::IMPACT ON SALES AND EARNINGS EXPECTED DUE TO COVID-19; OUTLOOK FOR FINANCIAL YEAR 2019/20 WITHDRAWN.DECIDED TO WITHDRAW OUTLOOK FOR FINANCIAL YEAR 2019/20 PUBLISHED ON 17 DECEMBER 2019.CURRENTLY NOT POSSIBLE TO MAKE A FORECAST ON BUSINESS PERFORMANCE IN COMING WEEKS AND TO RELIABLY QUANTIFY EFFECTS ON BUSINESS.THEREFORE CURRENTLY REFRAINS FROM ISSUING A NEW OUTLOOK FOR FINANCIAL YEAR 2019/20.FOR FY EXPECTS EFFECTS ON SALES AND EBIT.SAYS RECORDED A SOLID PERFORMANCE IN TERMS OF SALES AND EARNINGS IN FIRST TWO MONTHS OF Q2 OF FINANCIAL YEAR 2019/20.  Full Article

Ceconomy Postpones Capital Markets Day Due To Coronavirus
Monday, 16 Mar 2020 

March 16 (Reuters) - Ceconomy AG ::POSTPONES CAPITAL MARKETS DAY DUE TO CORONAVIRUS.IN THE FIRST TWO MONTHS OF 2020, OUR GROUP SALES AND OUR OVERALL BUSINESS PERFORMED POSITIVELY.CURRENTLY, THE SITUATION IN THE COUNTRIES WHERE MEDIAMARKTSATURN IS PRESENT VARIES.WE CANNOT YET RELIABLY QUANTIFY THE OVERALL IMPACT ON OUR BUSINESS.OUR FY 2019/20 OUTLOOK DOES NOT TAKE INTO ACCOUNT ANY EFFECTS FROM THE CORONAVIRUS ON OUR BUSINESS.  Full Article

Ceconomy looking for new CEO - sources

DUESSELDORF, Aug 7 Europe's biggest consumer electronics chain, Ceconomy, is looking for a successor for interim Chief Executive Bernhard Duettmann whose contract, due to expire in October, has not yet been extended, four sources with knowledge of the matter said.