CECONOMY, Europe’s leading consumer electronics retailer, reported solid financial results for Q3 and the first nine months of fiscal year 2024/25. Adjusted EBIT improved by € 20 million to € 31 million in Q3, and by € 56 million to €258 million for the nine-month period. Group revenue, adjusted for currency effects and portfolio changes, increased 5,1% in Q3 and 5,5% over the first nine months. The gross margin rose by 0,9 percentage points in Q3 to 17,8%, driven by Services & Solutions, Retail Media, and higher own-brand sales.
Marketplace fuels e-commerce expansion
CECONOMY’s strategy to become a customer-centric service platform is delivering results across all channels. Online sales increased by 6,8% in Q3 to € 1,1 billion and by 10,2% in the first nine months to € 4,4 billion. The online share of total sales, including the net merchandise value (NMV) from marketplace activities, reached 24,8% in Q3 and 26,4% in the nine-month period. The marketplace, with a high share of used and refurbished products sales, remains a key contributor to the improved gross margin, underlining its strategic importance even after adjustments in the reporting structure for Services & Solutions revenue.
Mixed performance across regions
The DACH region saw a slight Q3 decline due to weak German consumer confidence, despite strong online growth. Western and Southern Europe delivered strong Q3 performance, especially in Spain and Italy. Eastern Europe’s sales fell, but adjusted for currency and hyperinflation in Turkey, revenue surged by 35,1%.
JD.com acquisition talks advance
Post-reporting, CECONOMY confirmed advanced talks with JD.com regarding a potential voluntary public cash offer of € 4,60 per share. Major shareholders representing 27,9% have committed to tender their shares, while Convergenta will retain around 25,35%. The move signals both operational improvement and strategic repositioning in the competitive consumer electronics market.
Market
Trade-in
Repair
Refurbishing
