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Ceconomy: share up after Q3 results

( - The share of consumer electronics retailer Ceconomy is up nearly 2% in Frankfurt on Friday, after the consumer electronics retailer published adjusted EBIT of -45 million euros for Q3 2019-20, virtually flat relative to the previous year.

At around 4.1 billion euros, sales contracted by 8.4% excluding FX and consolidation scope effects, due to the measures taken against the pandemic, although its sales trend picked up towards the end of the period.

Assuming that no new Covid-19 related restrictions are imposed in the last months of the year, Ceconomy expects only a slight decline in sales excluding FX factors, and forecasts EBIT of 165-185 million euros for FY 2019-20.

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