Germany’s Ceconomy increases sales in its third quarter

These sales figures are adjusted for currency and portfolio effects, the company said.

The company’s third-quarter preliminary adjusted earnings before interest and taxes (EBIT) increased by €20 million ($23.24 million), year-on-year, reaching negative €31 million as expected.

Looking ahead, for the full year, Ceconomy now projects an adjusted EBIT of around €375 million, higher than analysts’ expectations of €366 million. This increase is expected to be primarily driven by the Germany-Austria-Switzerland and Western/Southern Europe segment.

Further, the company continues to expect a moderate increase in annual sales adjusted for currency effects and portfolio changes across all segments.

Ceconomy is expected to release its third-quarter earnings report on August 12.