Ceconomy (CEC) Q1 2026 earnings summary

Executive summary

• Achieved twelve consecutive quarters of profitable growth, with record online share exceeding 30% and peak customer satisfaction during the full peak season.

• Ongoing omnichannel transformation and investments in channel integration are driving flexibility, responsiveness, and improved customer satisfaction.

• Growth businesses, including Services & Solutions, Retail Media, Marketplace, and Private Label, are scaling rapidly and driving profitability.

• Loyalty program membership increased to 57 million, reflecting strong customer engagement.

• The company confirms its positive outlook for FY 2025/26, supported by international diversification and strategic initiatives.

Financial highlights

• Sales grew by 3.4% year-over-year to €7.6 billion, with like-for-like sales up 3.0%.

• Adjusted EBIT increased by €31 million (11%) to €311 million, with margin up 40 basis points to 4.1%.

• EPS rose 23% to €0.37; net result group share improved to €181 million.

• Free cash flow was strong at €1.4 billion, with net liquidity improving to €8 million.

• Gross margin improved by 40 basis points to 17.6%; adjusted OpEx ratio reduced by 20 basis points.

Outlook and guidance

• Full-year guidance for FY 2025/26 is confirmed: moderate increase in currency and portfolio adjusted sales, with all regions contributing.

• Adjusted EBIT target of around €500 million remains unchanged, with improvement expected from DACH and Western/Southern Europe.

• Outlook assumes a stable macroeconomic environment, especially in DACH.