Ceconomy (CEC) Strategy Day 2026 summary

Strategic vision and transformation

• Transitioned from a traditional retailer to an experience-driven omnichannel platform, focusing on customer trust and relationships across all touchpoints, with over 2.2 billion annual customer contacts and five distinct growth businesses.

• Strategy centers on building trust through employee, shopping, user, and impact experiences, leveraging AI and human interaction.

• Brand positioning evolves to Moments of Trust, with MediaMarkt and Saturn differentiated for broader customer reach and innovation.

• Leadership team strengthened with expertise in customer relevance, technology, marketing, and governance to drive the new strategy.

• Store formats shifted to a four-format strategy (smart, express, core, Lighthouse), reducing average store size and aligning with local demand.

Financial guidance and business model transformation

• Adjusted EBIT targeted at €800m by FY2028/29, up 60% from FY2025/26, with a 3.3% margin, and net sales projected to reach €24bn, with a 1.3% CAGR from 2026.

• Over 50% of gross profit expected from growth areas (Services & Solutions, Marketplace, Private Label, Retail-as-a-Service, Retail Media) by FY2028/29, up from 40% in 2026.

• Free cash flow ambition set at over €300m by FY2028/29, with annual investments of €350m mainly in technology and logistics.

• Cost discipline maintained by standardizing frameworks and leveraging AI for operational efficiencies, keeping OpEx ratio stable despite sales growth.

• Four key levers: gross profit improvement in growth areas, cost discipline, steady sales growth, and JD.com synergies.

Growth areas and operational priorities

• Marketplace GMV to rise from €140m in FY2022/23 to €1.9bn by FY2028/29, with expanded services, assortment, and omnichannel integration.

• Private Label share to reach 7% overall by FY2028/29, including refurbished products and a focus on adjacent categories and sustainability.

• Retail Media gross profit to reach €230m by FY2028/29, expanding to a 360-degree omnichannel proposition and leveraging first-party data and AI.

• Retail-as-a-Service gross profit expected to grow from €50m to €90m by FY2028/29.

• Services & Solutions gross profit targeting €1.65bn by FY2028/29, driven by verticalization, integration, and digitalization.