Ceconomy (CEC) Q3 2026 earnings summary

Executive summary

• Achieved fourteenth consecutive quarter of profitable growth, with sales reaching EUR 18.4 billion for the first nine months, up 5% year-over-year, and strong momentum in Q3 driven by 8.2% like-for-like growth.

• Omnichannel strategy drove robust online sales growth (up to 19.9% in Q3, 10% in 9M), with online share rising to 28.2%.

• Growth businesses (Services & Solutions, Retail Media, Marketplace) delivered high-margin, double-digit growth, diversifying profit streams.

• Customer loyalty increased to 57 million members, up 13 million year-over-year; NPS improved by 2 points to 63.

• Strong performance in Eastern Europe, especially Türkiye, and continued expansion in services and refurbished products.

Financial highlights

• 9M sales reached EUR 18.4 billion, up from EUR 17.6 billion prior year; Q3 sales up 8.0% year-over-year to EUR 5.3 billion.

• Adjusted EBIT for 9M was EUR 342 million, up EUR 62 million year-over-year; Q3 adjusted EBIT improved by EUR 19 million.

• Gross margin increased by 30 basis points to 18.2% for 9M; adjusted EBIT margin improved by 30-40 basis points.

• Net profit group share for 9M increased to EUR 31 million from EUR 10 million year-over-year.

• Free cash flow stable year-on-year in Q3 and 9M, with net debt reduced by EUR 176 million to EUR 1,506 million.

Outlook and guidance

• Guidance for FY 2025/26 confirmed: moderate sales growth and adjusted EBIT around EUR 500 million, with all segments expected to contribute.

• Ambition for EUR 800 million adjusted EBIT and EUR 24 billion sales by FY 2028/29, with over 50% of gross profit from growth businesses.

• Working capital expected to remain stable as a percentage of sales through 2029.

• Medium-term targets include free cash flow of EUR 300 million and annual investments of EUR 350 million.