Slides
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Results Presentation Q4/FY 2023/24 18 December 2024 Hamburg, Germany
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Vösendorf, Austria 1. Business update
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Results Presentation Q4/FY 2023/24 on 18 December 2024 3 Substantial progress in transforming our business in the last two years €22.4 bn (up 8%1 from FY 21/22) Sales €305 m (up 47% from FY 21/22) EBIT 58 (up 8 from FY 21/22) NPS €119 m (up €742 m from FY 21/22) FCF 1 1Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates.
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Gained 40bp market share in a challenging market Market share gains +12.4% sales increase in Services & Solutions1 Growth acceleration Refurbished products sales quadrupled Sustainability Achieved a new all-time high NPS of 58 (+5 YoY) Customer experience Upgraded online backend infrastructure to the latest technology in Germany Strengthened omnichannel Delivered updated guidance and secured debt refinancing Results Presentation Q4/FY 2023/24 on 18 December 2024 4 We further strengthened our business in 2023/24 Financial stability 1Adjusted for fx- and portfolio effects, pre-IAS 29. Includes Operational Services & Solutions, Retail Media, Marketplace commissions & fees, deliveries.
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Results Presentation Q4/FY 2023/24 on 18 December 2024 5 Our growth businesses are already substantial and further growing Adj. EBIT1 split: Retail Core Growth Businesses Retail Core Growth Businesses FY 21/22 FY 23/24 €208 m €305 m 1Excluding associates, adjusted for portfolio changes, pre-IAS 29 and excluding non-recurring effects / All four growth businesses increased substantially: – Operational Services & Solutions – Marketplace – Private Label – Retail Media / Retail Media ahead of plan, now targeting triple digit income Simplified illustration / Improved customer experience / Omnichannel milestones: – Store portfolio refresh on track – Continuing investments into our platforms
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Results Presentation Q4/FY 2023/24 on 18 December 2024 6 In FY 23/24 the execution of our strategy continued to pay off Key financial figures FY 22/23 FY 23/24 Change Net sales €22.2 bn €22.4 bn +5.3%1 Adjusted EBIT2 €243 m €305 m +26% Adj. EBIT Margin 1.1% 1.4% +30bp Free Cash Flow €257 m €119 m -€138 m Reported EPS -0.08€ 0.16€ +0.24€ 1Adjusted for fx- and portfolio effects. 2Excluding associates, adjusted for portfolio changes, pre-IAS 29 and excluding non-recurring effects. / Sales growth driven by strong 4.1% like-for-like / Strong increase in adjusted EBIT2 due to both growth businesses and operational improvements and / Positive FCF performance of €119 m / Reported EPS growth driven by higher profitability
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Results Presentation Q4/FY 2023/24 on 18 December 2024 7 Annual update of key pledges: progress in all areas Business fields KPI FY 21/22 FY 22/23 Progress FY 23/24 Target FY 25/26 Retail Core Loyalty members 34 m 39 m 43 m 50 m Retail Core Online share1 25% 23% 24% c. 30% Retail Core Modernisation rate 30% 50% 64% > 90% Retail Core Stock reach progress2 10.3 weeks 9.1 weeks (-11%) 9.3 weeks (-10%) -10% Space-as-a-service # Lighthouses 6 8 11 Up to 20 Services & Solutions Income in % of total sales3 4.5% 4.5% 5.1% c. 5.5% Marketplace GMV €65 m €137 m €277 m €750 m Private Label Private Label share 2.3% 2.4% 2.7% c. 5% Retail Media Income c. €5 m €18 m €48 m c. €45 m 1Online share with third party sales. 2Compared to FY 21/22. 3Operational Services & Solutions income in % of total net sales (excluding e.g., Retail Media, Marketplace commissions & fees, deliveries).
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Loyalty members / Better customer engagement thanks to enhanced online customer experience and promotion of membership benefits Online / Growth driven by both visits and basket size / Strong momentum of the Marketplace – Now live in 5 countries Brick & Mortar / 3 Lighthouse openings in Germany, Austria and Türkiye / Sales increase driven by customer traffic and basket size / Personalised service starting in Germany Stock reach progress / Healthy level maintained Results Presentation Q4/FY 2023/24 on 18 December 2024 8 We are on track to reach FY 25/26 Retail Core targets 1Online share based on 1P and 3P online sales. 2Compared to FY 21/22. KPI FY 2022/23 FY 2023/24 FY 2025/26 Loyalty members 39 m 43 m 50 m Online share1 23% 24% c. 30% Modernization rate 50% 64% > 90% Stock reach progress2 9.1 weeks (-11 %) 9.3 weeks (-10 %) - 10% # Lighthouses 8 11 Up to 20
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Personalised campaigns, tailored to our customersPutting data to work: How we increasingly leverage our loyalty base Results Presentation Q4/FY 2023/24 on 18 December 2024 9 Putting data to work: how we increasingly leverage our loyalty base / 43m loyal customers / 2.2 bn data points on shopping behaviour with individual preferences (products, delivery, price range, shopping time etc.) Simplified Conception / Campaigns optimisation based on propensity models / Follow-up product and service suggestions tailored to past purchases / Location-based marketing campaigns / Result: Mid single digit average spend increase / Future developments: Personalised app, wish list notifications and price alerts etc.
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Doubling growth rate vs 2022/23 / +€167 m (+17%) income growth in FY 2023/24 / Overall strong performance, especially in warranties and telecom / Aftersales repair services delivered substantial growth / Launch of AI voicebot in Germany, Austria and the Netherlands / New financing solutions now on marketplace in Germany Results Presentation Q4/FY 2023/24 on 18 December 2024 10 Operational Services & Solutions on the rise Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Operational Services & Solutions Income in % of total sales1 4.5% 5.1% c. 5.5% 1Operational Services & Solutions income in % of total net sales (excluding e.g., Retail Media, Marketplace commissions & fees, deliveries). c. 10% c. 20% c. 30% c. 40% Financing Installation & Repair Telecom & Others Insurance Income Split
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800 1,100 1,600 Marketplace live in 5 countries (80% group sales) / c. 2.0 m SKUs on offer, c. 1,600 vendors (+49% YoY) / Successful launch in Italy and the Netherlands in FY 2023/24 / Plans for FY 2024/25: – Roll-out in Belgium, Poland and Türkiye – Financing solutions in four more countries – Introduction of insurance products in Germany Results Presentation Q4/FY 2023/24 on 18 December 2024 11 Doubling of the Marketplace GMV in FY 2023/24 Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Marketplace GMV €137 m €277 m €750 m 500 FY 21/22 FY 22/23 FY 23/24 FY 24/25 1,400 2,000 Product categories available on Marketplace Barbecue & Gardening Toys & BoardgamesDIY Established New Baby & Kids Fitness & Sports Lights & Lamps Vendors SKUs (in m)
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Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Private Label Sales share 2.4% 2.7% c. 5% Results Presentation Q4/FY 2023/24 on 18 December 2024 12 Our new approach to private label is bearing fruits Increase in Private Label share / Accelerated growth in FY 2023/24 quarter over quarter / Update of Private Label design and brand positioning / Major Domestic Appliances (MDA), TV and Accessories are biggest drivers of positive sales and margin development Appliances Electronics Accessories
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Business fields KPI FY 2022/23 FY 2023/24 FY 2025/26 Retail Media Income €18 m €48 m c. €45 m Results Presentation Q4/FY 2023/24 on 18 December 2024 13 Retail Media is ahead of plan and targets now triple digit income 18 48 FY 21/22 FY 22/23 FY 23/24 FY 24/25 c. 5 Growth plan FY 2025/26 Retail Media Income (in €m) Substantial progress in Retail Media / Strong demand by industry partners / Roll-out of Retail Media in all countries nearly completed / Growth phase boosted by international deal with Publicis / Omnichannel data use is part of next growth wave / New mid-term target of triple digit income Upcoming new products in 2024/25 growth phase Audience Extension Digital Out of Home Omnichannel Reporting
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Results Presentation Q4/FY 2023/24 on 18 December 2024 14 Continued growth for eco-friendly products and services Strong demand for sustainability continues / We proceed to expand our sustainable offering 12% 20% 2022/23 2023/24 BetterWay sales share +8%p. Trade-in products (in thousands) 2022/23 2023/24 218 424 +94% 2022/23 2023/24 18 68 +280% Refurbished products (in thousands) Sustainability KPIs 13% 24% +11%p. 74 101 +37% 7 28 +290% Growth of sales share and assortment / Educational materials rolled out in all countries Refurbished online offering / Integration of refurbished product offering into our online offer Q4 FY
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FY 22/23 FY 23/24 20,703 20,343 1Directly purchased electricity Results Presentation Q4/FY 2023/24 on 18 December 2024 15 Major steps in reducing our carbon footprint -1.7% Scope 3 emissions in thousand tCO2e Progress in climate action / Scope 3 emissions are 99.7% of our carbon footprint and our main focus / Reduction driven by emphasis on sustainable products / 100% green electricity in all stores and facilities since 01/20241
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Promoting professional equality and developing skills / Net Promoter People (NPP) score at new all-time high / Success in supporting diversity through initiatives like Women@MMS / Strong development in female share promotions / Successful new training concept to be rolled out Results Presentation Q4/FY 2023/24 on 18 December 2024 16 Enhancing employee experience is a key pillar of our strategy Employer awards in FY 23/24
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Distribution Center Erfurt, Germany 2. Financial performance
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Results Presentation Q4/FY 2023/24 on 18 December 2024 18 We delivered our guidance 2023/24 1Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Sales1 Adjusted EBIT1 “Slight Increase” “Clear Increase” Initial Guidance (Dec 2023) “Moderate Increase” (Updated in August 2024) “Between €290 m and €310 m” (Updated in May 2024) Updated Guidance Results 2023/24 +5.3% €305m (+€62m, +26%)
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FY 25/261 Results Presentation Q4/FY 2023/24 on 18 December 2024 19 Our growth businesses are significant in size and show strong progress III 1 FY 21/22 28% 72% Growth Businesses Retail Core FY 23/24 Growth businesses consisting of Operational Services & Solutions, Marketplace, Private Label and Retail Media 1Growth plan FY 25/26 32% 68% Gross profit split
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FY 21/22 FY 22/23 FY 23/24 FY 25/26 21,768 22,242 22,442 Adj. EBIT1 (in €m)Net sales (in €m) Results Presentation Q4/FY 2023/24 on 18 December 2024 20 Our strategy is paying off Slightly above market growth Growthplan +4% +21%CAGR 21/22 – 23/24 CAGR 21/22 – 23/24 >€500 m 1Excluding associates, adjusted for portfolio changes, pre-IAS 29 and excluding non-recurring effects 208 243 305 FY 21/22 FY 22/23 FY 23/24 FY 25/26 Growthplan
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2022/23 2023/24 94 103 2022/23 2023/24 243 305 2022/23 2023/24 5,347 5,206 2022/23 2023/24 22,242 22,442 Results Presentation Q4/FY 2023/24 on 18 December 2024 21 Sales and EBIT in Q4 and FY 2023/24 confirm the upward trend 1Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Sales (€m) Adj. EBIT1 (€m) / Strong sales growth in all four quarters of the year / Solid underlying like-for-like performance of 4.1% in FY (4.5% in Q4) / Seven consecutive quarters of profitable growth Q4 FY +6.3%1 (-2.6%) +5.3%1 (+0.9%) +€9 m +€62 m
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Results Presentation Q4/FY 2023/24 on 18 December 2024 22 FY 2023/24 performance driven by West/South and DACH €m DACH Sales (pre-IAS 29) Growth1 (%) Western/ Southern Europe Eastern Europe Others2 CECONOMY Like-for-like (%) IAS 29 Sales (post-IAS 29) Reported YoY change (%) Adj. EBIT1 Adj. EBIT margin1 (%) Adj. EBIT YoY change 11,868 7,243 3,189 18 22,318 -1.5% +4.8% +44.7% -0.9% +5.3% -1.5% +2.4% +40.8% - +4.1% 162 88 73 -18 305 1.4% 1.2% 2.3% 1.4% +17 +53 -30 +22 +62 124 3,313 22,442 -1.4% +2.9% +19.8% -95.6% +0.9% 1Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Margin calculation based on reported sales pre-IAS 29 and adjusted EBIT. 2Including Consolidation. 124 DACH / Market share gain in the region. Sales growth in Austria and Hungary, slightly down in Switzerland and Germany / EBIT improvement across the region, slight decline in Germany Western/Southern Europe / Sales growth and market share gains in all countries. Sales recovery in Italy in Q4 / EBIT growth in all countries, notably Spain Eastern Europe / Sales and profit moderated as planned Others / EBIT progress backed by cost control - Segments FY 2023/24
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Results Presentation Q4/FY 2023/24 on 18 December 2024 23 Strong EBIT development in DACH in Q4 2023/24 DACH / Market share gains in all countries, relatively soft market demand in Germany / EBIT improvement across the region, notably in Germany Western/Southern Europe / Sales growth in all countries, except Belgium. Recovery in Italy. / EBIT performance impacted by product mix Eastern Europe / Top-line and profit normalises as expected 1Sales adjusted for fx- and portfolio effects, pre-IAS 29. EBIT at current rate, additionally adjusted for non-recurring effects and excluding associates. Margin calculation based on reported sales pre-IAS 29 and adjusted EBIT. 2Including Consolidation. €m DACH Sales (pre-IAS 29) Growth1 (%) Western/ Southern Europe Eastern Europe Others2 CECONOMY Like-for-like (%) IAS 29 Sales (post-IAS 29) Reported YoY change (%) Adj. EBIT1 Adj. EBIT margin1 (%) Adj. EBIT YoY change 2,661 1,765 779 5 5,210 -0.7% +7.3% +34.5% -3.1% +6.3% -1.3% +4.4% +30.7% - +4.5% 65 62 4 -28 103 2.4% 3.5% 0.6% 2.0% +30 -11 -8 -2 +9 -4 776 5,206 -0.7% +5.4% -18.5% -88.4% -2.6% -4 - Segments Q4 2023/24
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Results Presentation Q4/FY 2023/24 on 18 December 2024 24 Our Services & Solutions businesses continue to steam ahead 1Excluding portfolio effects (Sweden, Portugal), pre-IAS 29. Growth additionally adjusted for fx-effects. Includes Operational Services & Solutions income, Retail Media, Marketplace commissions & fees, deliveries. / Q4 highlights: – Retail Media income tripled – Marketplace GMV doubled – significant increase in Operational S&S driven by Installation & Repair / All S&S categories drove FY sales growth – Extended warranties and mobile contracts performing especially well in Operational S&S Services & Solutions Sales1 (€m) +15.0% +12.4% Q4 FY 2022/23 2023/24 344 393 2022/23 2023/24 1,338 1,483
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Results Presentation Q4/FY 2023/24 on 18 December 2024 25 First party (1P) Online Sales increased further in Q4 1Excluding portfolio effects (Sweden, Portugal), pre-IAS 29. Growth additionally adjusted for fx-effects. / Solid online market share gains / 1P Online sales growth driven by all regions in Q4 and FY 2023/24 / Online sales share including Marketplace up 100bps YoY to 23.6% in FY 2023/24 1P Online Sales1 (€m) +10.1% +7.3% 2022/23 2023/24 1,011 1,099 2022/23 2023/24 4,836 5,118 Q4 FY
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2022/23 2023/24 17.5% 17.4% 2022/23 2023/24 19.9% 19.3% 2022/23 2023/24 18.8% 18.4% Results Presentation Q4/FY 2023/24 on 18 December 2024 26 FY EBIT margin driven by gross margin and OPEX improvements 1Excluding portfolio effects (Sweden, Portugal), pre-IAS 29, and adjusted for non-recurring effects. Q4 FY -60bp +10bp -40bp -10bp Gross margin1 (%) OPEX ratio1 (%) 2022/23 2023/24 17.9% 18.0% / Gross margin improvement in FY 23/24 driven by growth businesses / Q4 gross margin impacted by competitive pressure, particularly in Eastern Europe / Roughly stable OPEX ratio for the FY thanks to cost control and efficiency measures / Positive operating leverage and cost measures improved our OPEX ratio in Q4
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-95 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cum 130 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Results Presentation Q4/FY 2023/24 on 18 December 2024 27 Major efficiency program delivered, further initiatives in progress Restructuring costs (€m)Run rate savings (€m) 2022/23 2023/242022/23 2023/24 Run rate from end of 2023/24 ✓ / €95 m cumulated costs in FY 2022/23 and FY 2023/24/ €24 m incremental savings in Q4 2023/24
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Results Presentation Q4/FY 2023/24 on 18 December 2024 28 Our operating performance led to a substantial rise in FY EPS Note: From continuing operations and based on reported figures. Average number of shares 485,221,084 since Q3 FY 2021/22. 1EPS adjusted for portfolio effects, pre IAS 29. €m 2022/23 Adjusted EBIT Non-recurring items 2023/24 Change EBIT reported Net financial result Earnings before taxes Income taxes Profit or loss for the period Non-controlling interests Net profit group share 243 305 +62 -265 -52 +213 -21 254 +275 -37 77 +114 2 1 -1 -21 -166 -42 88 +130 5 -11 -16 -145 Reported EPS undiluted (€) Net profit group share adjusted EPS adjusted undiluted (€)1 -39 76 +115 -0.08 0.16 +0.24 37 109 +72 0.08 0.22 +0.14 Non-recurring items / Restructuring program (-€29m). Hyperinflation Türkiye Effects (IAS 29) (-€30 m) / At-Equity results (€23 m) Net financial result / Increase driven by bond refinancing and higher interest rates, especially in Türkiye / PY impacted by positive deconsolidation effect of Swedish business Tax / Tax rate of 12.8% Reported EPS undiluted / Improvement due to clear progress in operating performance Full year
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Results Presentation Q4/FY 2023/24 on 18 December 2024 29 From adjusted EBIT to net profit Q4 2023/24 Note: From continuing operations and based on reported figures. Average number of shares 485,221,084 since Q3 FY 2021/22. 1EPS adjusted for portfolio effects, pre IAS 29. Q4 Non-recurring items / Restructuring program (-€25 m) / Hyperinflation Türkiye Effects (IAS 29, -€2 m) / PY includes impairment on Fnac Darty stake Net financial result / Increase driven by bond refinancing and higher interest rates, especially in Türkiye / PY impacted by positive deconsolidation effect of Swedish business Tax / Tax rate impacted by country mix €m 2022/23 Adjusted EBIT Non-recurring items 2023/24 Change EBIT reported Net financial result Earnings before taxes Income taxes Profit or loss for the period Non-controlling interests Net profit group share 94 103 +9 -108 -33 +76 -14 71 +85 67 7 -60 0 0 0 53 -47 39 24 -15 29 -17 -46 -100 Reported EPS undiluted (€) Net profit group share adjusted EPS adjusted undiluted (€)1 67 7 -60 0.14 0.01 -0.13 28 -1 -29 0.06 0.00 -0.06
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Free cash flow (FCF) in FY 2023/24 (YoY change, €m) 1Lease-adjusted FCF subtracts the repayment of lease liabilities for better FCF comparability under IFRS 16. Results Presentation Q4/FY 2023/24 on 18 December 2024 30 Substantial FCF generation supported by EBITDA and tax uplift 916 587 119 190 EBITDA Δ NWC -28 Tax -240 Other operating cash flow -251 Cash investments Free cash flow pre leases -467 Lease repayments Lease adj. free cash flow1 NWC / Better trade payables management more than offset higher stocks to secure product availability Tax / Tax payments below last year as optimised tax structure is paying off / Expected tax cash inflow shifted to FY 2024/25 Other operating cash flow / Reversal of non-cash At-Equity result (€23 m) / Cash-out for restructuring costs Lease repayments / Improvement driven by portfolio effects (Portugal and Sweden) and ongoing optimisation of selling space+102 -142 +81 -207 +6 -160 +22 -138
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CMD 2023 commitments We aspire to provide attractive dividends with a payout ratio from 10% to 25% of EPS We always consider capital requirements of existing and new business ventures Results Presentation Q4/FY 2023/24 on 18 December 2024 31 Our prudent financial policy is supported by clear commitments Significantly strengthened financial KPIs in FY 2023/24 Specified dividend policy Leverage ratio Liquidity 1.7x (Net debt/adj. EBITDA) €1,010m Cash & cash equivalents / Substantial YoY improvement (1.9x in FY 22/23) / Leverage target ratio <2.5x / Sufficient liquidity reserves / +13% increase YoY / Successful refinancing of €500 m bond
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Munich, Germany 3. Outlook and summary
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Results Presentation Q4/FY 2023/24 on 18 December 2024 33 2024/25 sales and EBIT outlook The outlook is adjusted for portfolio changes and does not take into account the earnings effects from companies accounted for using the equity method. Accounting effects of the application of IAS 29 inTürkiye as a hyperinflationary economy are also not taken into account either. It excludes non-recurring effects, particularly in connection with the simplification and digitalisation of central structures and processes or changes to the legal environment. // Moderate increase in fx- and portfolio-adjusted sales / All segments are expected to contribute to sales growth // Clear increase in adjusted EBIT / Improvement in adjusted EBIT driven by DACH and Western/Southern Europe
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Results Presentation Q4/FY 2023/24 on 18 December 2024 34 Black season positively kicked off the new fiscal year / Strong performance across all regions / Successful marketing campaigns backed by excellent product availability / Small domestic appliances (SDA), telecom and IT were particularly sought after
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Results Presentation Q4/FY 2023/24 on 18 December 2024 35 Summary of Q4 and FY results 01 We performed strongly in FY 2023/24 in a challenging market 02 Solid market share gains in a volatile CE market 03 Our growth businesses, already substantial in size, continue to grow 04 Our strategy continues to elevate the customer experience 05 Our focus remains on cost, liquidity and profitability 06 Positive outlook: Moderate increase in sales and clear increase in adjusted EBIT
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This presentation is intended for information only, does not constitute a prospectus or similar document and should not be treated as investment advice. It is not intended and should not be construed as an offer for sale, or as a solicitation of an offer to purchase or subscribe to, any securities in any jurisdiction. Neither this presentation nor anything contained therein shall form the basis of, or be relied upon in connection with, any commitment or contract whatsoever. CECONOMY AG assumes no liability for any claim which may arise from the reproduction, distribution or publication of the presentation (in whole or in part). The third parties whose data is cited in this presentation are neither registered broker-dealers nor financial advisors and the permitted use of any data does not constitute financial advice or recommendations. This presentation contains forecasts, statistics, data and other information relating to markets, market sizes, market shares, market positions and other industry data on the Company’s business and markets (together the “market data”) provided by third party sources as interpreted by us. This market data is, in part, derived from published research and additional market studies prepared primarily as a research tool and reflects estimates of market conditions based on research methodologies including primary research, secondary sources and econometric modelling. We want to point out that part of the market data used has been collected in the framework of a market survey carried out as a panel observation. The panel is a regular survey monitoring sales of specific products and product categories, using a range of distribution channels including internet, retail outlets (e.g. high street, mail order) and companies (e.g. resellers). The market data does not represent actual sales figures globally or in any given country; rather, the market data represents a statistical projection of sales in a given territory and is subject to the limitations of statistical error and adjustments at any time (e.g. reworks, changes in panel structure). The representativeness of the market data may be impacted by factors such as product categorisation, channel distribution and supplier universe identification and statistical sampling and extrapolation methodologies. The market data presented is based on statistical methods and extrapolation. In addition, market research data and trend information as interpreted or used by CECONOMY is based on certain estimates and assumptions and there can be no assurance that these estimates and assumptions as well as any interpretation of the relevant information by CECONOMY are accurate. The market research institutes which data CECONOMY used as basis for this presentation are neither registered broker dealers nor financial advisors and the permitted use of any market research data does not constitute financial advice or recommendations. Historical financial information contained in this presentation is mostly based on or derived from the consolidated (interim) financial statements for the respective period. Financial information with respect to the business of MediaMarktSaturn Retail Group is particularly based on or derived from the segment reporting contained in these financial statements. Such financial information is not necessarily indicative for the operational results, the financial position and/or the cash flow of the CECONOMY business on a stand-alone basis neither in the past nor in the future and may, in particular, deviate from any historical financial information based on corresponding combined financial statements with respect to the CECONOMY business. Given the aforementioned uncertainties, (prospective) investors are cautioned not to place undue reliance on any of this information. No representation or warranty is given and no liability is assumed by CECONOMY AG, express or implied, as to the accuracy, correctness or completeness of the information contained in this presentation. This presentation contains certain supplemental financial or operative measures that are not calculated in accordance with IFRS and are therefore considered as non-IFRS measures. We believe that such non- IFRS measures used, when considered in conjunction with (but not in lieu of) other measures that are computed in accordance with IFRS, enhance the understanding of our business, results of operations, financial position or cash flows. There are, however, material limitations associated with the use of non-IFRS measures including (without limitation) the limitations inherent in the determination of relevant adjustments. The non-IFRS measures used by us may differ from, and not be comparable to, similarly- titled measures used by other companies. Detail information on this topic can be found in CECONOMY’s Annual Report 2022/23, pages 32-35. All numbers shown are as reported, unless otherwise stated. All amounts are stated in million euros (€ million) unless otherwise indicated. Amounts below €0.5 million are rounded and reported as 0. Rounding differences may occur. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral presentation of the slides by representatives of CECONOMY AG, any question-and-answer session that follows the oral presentation, hard copies of the slides as well as any additional materials distributed at, or in connection with this presentation. By attending the meeting (or conference call or video conference) at which the presentation is made, or by reading the written materials included in the presentation, you (i) acknowledge and agree to all of the following restrictions and undertakings, and (ii) acknowledge and confirm that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of the presentation. To the extent that statements in this presentation do not relate to historical or current facts, they constitute forward-looking statements. All forward- looking statements herein are based on certain estimates, expectations and assumptions at the time of publication of this presentation and there can be no assurance that these estimates, expectations and assumptions are or will prove to be accurate. Furthermore, the forward-looking statements are subject to risks and uncertainties including (without limitation) future market and economic conditions, the behaviour of other market participants, investments in innovative sales formats, expansion in online and omnichannel sales activities, integration of acquired businesses and achievement of anticipated cost savings and productivity gains, and the actions of public authorities and other third parties, many of which are beyond our control, that could cause actual results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this presentation. Accordingly, no representation or warranty (express or implied) is given that such forward-looking statements, including the underlying estimates, expectations and assumptions, are correct or complete. Readers are cautioned not to place reliance on these forward-looking statements. See also "Opportunity and Risk Report" in CECONOMY's most recent Annual Report for risks as of the date of such Annual Report. We do not undertake any obligation to publicly update any forward-looking statements or to conform them to events or circumstances after the date of this presentation. Results Presentation Q4/FY 2023/24 on 18 December 2024 Disclaimer and Notes 36
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Results Presentation Q4/FY 2023/24 on 18 December 2024 37 Questions & Answers Dr. Karsten Wildberger Dr. Kai-Ulrich Deissner
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Results Presentation Q4/FY 2023/24 on 18 December 2024 38 Financial calendar 2024/25 Q4/FY 2024/25 Trading Statement Q2/H1 2024/25 results Q1 2024/25 results Annual General Meeting Q3/9M 2024/25 results 28 October 2025 15 May 2025 11 February 2025 26 February 2025 12 August 2025 Q4/FY 2024/25 results 17 December 2025
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Results Presentation Q4/FY 2023/24 on 18 December 2024 39 We would be delighted to answer your questions Arian Ebrahimi Investor Relations Expert +49 (211) 5408 7224 +49 (151) 4063 2240 arian.ebrahimi@ceconomy.de Dr. Kerstin Achterfeldt Sr. Investor Relations Manager +49 (211) 5408 7234 +49 (151) 5822 4911 kerstin.achterfeldt@ceconomy.de Fabienne Caron VP, Head of Investor Relations +49 (211) 5408 7226 +49 (151) 4225 6418 fabienne.caron@ceconomy.de +49 (211) 5408 7222 IR@ceconomy.de Kaistr. 3 40221 Düsseldorf Germany ceconomy.de/en/investor-relations CECONOMY Investor Relations Team
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Hamburg, Germany
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Results Presentation Q4/FY 2023/24 on 18 December 2024 41 We have made progress on sustainability Rating company 2022/23 Update 2023/24 MSCI A April 2024 AA CDP B- February 2024 B Sustainalytics 15.8 March 2024 13.3 SBTi validation / In May 2024, targets for a better carbon footprint were validated by the independent Science Based Target initiative / By FY 2032/33, reduction of Scope 1 and 2 by -58.8% and Scope 3 by -32.5% / Commitment to ensure that 74% of suppliers pursue by FY 27/28 scientifically based targets in line with the Paris Agreement Strong progress across main external ESG ratings Validation of our carbon reduction ambitions
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Q4 2023/24 Results Presentation Q4/FY 2023/24 on 18 December 2024 42 1Excluding associates, adjusted for portfolio changes (Sweden, Portugal), pre-IAS 29 and excluding non-recurring effects. / Others includes IAS 29 effect -€2 m in Q4 (and -€30 m in FY 2023/24) / At equity investment includes -€2 m in Q4 for Fnac Darty (FY 2023/24 at equity investment includes +€27 m for Fnac Darty) Reported EBIT bridge & portfolio effects EBIT (€m) 103 71 Adjusted EBIT1 -25 Efficiency measures -9 Others 2 At equity investment and portfolio impacts Reported EBIT
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FY 2023/24 Results Presentation Q4/FY 2023/24 on 18 December 2024 43 1Excluding associates, adjusted for portfolio changes (Sweden, Portugal), pre-IAS 29 and excluding non-recurring effects. / IAS 29 effect: – negative impact on reported gross margin – Neutral in OPEX ratio as OPEX and sales are adjusted concurrently / Other includes mainly Retail Tax Hungary Gross margin (%) OPEX ratio (%) 18.0 17.7 Adjusted1 -0.4 IAS 29 Reported 17.4 17.6 Adjusted1 0.0 IAS 29 0.1 Efficiency program ("Drive") 0.1 Other 0.0 Portfolio Reported Reported to adjusted gross margin and OPEX ratio
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Results Presentation Q4/FY 2023/24 on 18 December 2024 44 €m 30/06/2023 Inventories 2,907 Trade receivables and similar claims 446 30/09/2023 Change 30/06/2024 30/09/2024 2,918 11 3,132 3,114 490 44 545 560 Receivables due from suppliers 987 1,207 220 1,167 1,292 Trade liabilities and similar liabilities -4,775 -5,320 -546 -5,377 -5,824 Net working capital -434 -705 -270 -533 -857 Change -18 15 125 -447 -325 Q4 2022/23 Q4 2023/24 €m 30/09/2022 Inventories 3,176 Trade receivables and similar claims 440 30/09/2023 Change 30/09/2023 30/09/2024 2,918 -258 2,918 3,114 490 51 490 560 Receivables due from suppliers 1,296 1,207 -89 1,207 1,292 Trade liabilities and similar liabilities -5,340 -5,320 20 -5,320 -5,824 Net working capital -428 -705 -277 -705 -857 Change 196 70 85 -504 -153 FY 2022/23 FY 2023/24 Reported net working capital
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Results Presentation Q4/FY 2023/24 on 18 December 2024 45 Q4/FY 2023/24 hyperinflation accounting 5.3 -2.6 2.7 2.3 1.3 6.3 2.7 2.3 1.3 6.3 Impact of IAS 29, fx- and Portfolio effects on Q4/FY Sales growth Sales (% growth) / Slightly positive total net impact from IAS 29 on sales in FY 2023/24 – Strongly negative impact for Q4 sales / Switching KPIs analysis to pre-IAS 29 more appropriate and closer to the underlying operating performance Reported Growth -0.5 IAS 29 Growth in € pre IAS 29 fx-Effect Portfolio- Adjustment Sales Growth adj. for fx- and Portfolio effects 0.9 0.4 2.6 2.3 5.3 2.6 2.3 5.3 Q4 FY
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Results Presentation Q4/FY 2023/24 on 18 December 2024 46 Application of IAS 29, hyperinflation accounting Sales growth Like-for-like growth Growth from expansion Fx-and portfolio adjusted Portfolio effect Fx-effect Growth in € pre-IAS 29 IAS 29 Reported growth in € Q1 3.2% 0.6% 3.7% -2.8% -2.1% -1.1% -0.1% -1.2% Q2 5.1% 1.3% 6.5% -2.6% -3.5% 0.4% 0.2% 0.6% Q3 5.2% 1.4% 6.6% -2.5% -4.1% 0.0% 8.6% 8.6% Q4 4.5% 1.8% 6.3% -1.3% -2.3% 2.7% -5.3% -2.6% €m Reported sales IAS 29 effect Sales pre-IAS 29 Reported sales IAS 29 effect Sales pre-IAS 29 Q1 7,066 -15 7,080 6,984 -19 7,003 Q2 5,302 +32 5,270 5,334 +45 5,289 Q3 4,527 -287 4,814 4,918 +102 4,816 Q4 5,347 +275 5,072 5,206 -4 5,210 2022/23 2023/24 2023/24
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Results Presentation Q4/FY 2023/24 on 18 December 2024 47 From reported to adjusted net profit — Q4 / EBIT and financial result adjusted for portfolio measures and IAS 29 effects / Q4 income taxes equal FY income taxes less 9M income taxes 2022/23 2023/24 Change 2022/23 2023/24 Change Reported EBIT -14 71 +84 -14 71 +84 Adjustment: Portfolio -17 -4 +13 Sweden and Portugal Adjustment: IAS 29 -39 2 +41 Türkiye Adjustment: At-Equity (Fnac Darty S.A.) 82 EBIT for EPS calculation -14 71 +84 11 68 +57 Net financial Result 53 -47 -99 -18 -47 -29 Earnings before Taxes (EBT) 39 24 -15 -7 21 +28 Net profit/loss for the period 67 7 -60 29 0 -29 o/w non-controlling interests 0 0 0 0 0 0 o/w net profit group share 67 7 -59.7 28 -1 -29 EPS in € 0.14 0.01 -0.12 0.06 0.00 -0.06 Impairment IAS 29 and Portfolio €m Income Taxes 29 -17 -45 35 -22 -57 Reported Incl. adjustments Comment
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Results Presentation Q4/FY 2023/24 on 18 December 2024 48 From reported to adjusted net profit — FY / EBIT and financial result adjusted for portfolio measures and IAS 29 effects 2022/23 2023/24 Change 2022/23 2023/24 Change Reported EBIT -21 254 +275 -21 254 +275 Adjustment: Portfolio 66 0 -67 Sweden and Portugal Adjustment: IAS 29 -21 30 +52 Türkiye Adjustment: At-Equity (Fnac Darty S.A.) 82 EBIT for EPS calculation -21 254 +275 105 284 +179 Net financial Result -21 -166 -145 -81 -160 -79 Earnings before Taxes (EBT) -42 88 +130 24 124 +99 Net profit/loss for the period -37 77 +114 39 109 +70 o/w non-controlling interests 2 1 -1 2 1 -1 o/w net profit group share -39 76 +115 37 109 +72 EPS in € -0.08 0.16 +0.24 0.08 0.22 +0.15 Impairment IAS 29 and Portfolio €m Income Taxes 5 -11 -17 14 -14 -29 Reported Incl. adjustments Comment
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Results Presentation Q4/FY 2023/24 on 18 December 2024 49 Sales and stores per country Sales (€m) FY 2022/23 Sales (€m) FY 2023/24 Stores (#) 30/09/2023 Openings Closures Stores (#) 30/09/2024 Germany 9,756 9,530 398 1 -3 396 Austria 1,277 1,327 54 1 0 55 Switzerland 575 568 25 0 0 25 Hungary 431 443 39 1 0 40 DACH 12,040 11,868 516 3 -3 516 Belgium 709 734 22 3 0 25 Italy 2,266 2,195 125 10 0 135 Luxembourg 52 48 2 0 0 2 Netherlands 1,551 1,699 48 7 0 55 Spain 2,333 2,567 110 3 -1 112 Portugal 126 - 0 0 Western/Southern Europe 7,037 7,243 307 23 -1 329 Poland 893 869 80 5 0 85 Türkiye 1,873 2,444 95 5 0 100 Eastern Europe 2,766 3,313 175 10 0 185 Others (incl. Sweden in 22/23) 399 18 0 0 CECONOMY 22,242 22,442 998 36 -4 1,030