Ceconomy AG (MTTRY) Q1 2026 Earnings Call Highlights: Strong Online Growth and Record Customer …

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Thu, February 12, 2026 at 12:02 AM GMT+9 3 min read

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**Revenue:** Increased by 3.4% to EUR7.6 billion.

**Adjusted EBIT:** Grew by EUR31 million or 11% to EUR311 million.

**EPS:** Increased by 23% to EUR0.37.

**Online Sales:** Grew by 6.9%, with online share reaching an all-time high of 30%.

**Free Cash Flow:** Strong at EUR1.4 billion.

**Net Promoter Score (NPS):** Achieved a record score of 61.

**Service & Solutions Sales:** Increased by nearly 14%.

**Refurbished Sales:** Grew by 380%.

**Loyalty Customers:** Increased to 57 million.

**Gross Margin:** Improved by 40 basis points.

**Net Financial Position:** Strong at EUR2 billion.

Warning! GuruFocus has detected 10 Warning Signs with MTTRY.

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Release Date: February 11, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Ceconomy AG (MTTRY) achieved a record online share of 30%, indicating successful transformation into an omni-channel retailer.

The company reported a record Net Promoter Score (NPS) of 61, reflecting high customer satisfaction and trust.

Sales grew by 3.4% to EUR 7.6 billion, with profitability increasing for the 12th consecutive quarter.

The company's growth businesses, such as Services & Solutions and Retail Media, showed significant momentum, contributing to long-term profitability.

Ceconomy AG (MTTRY) reported strong free cash flow of EUR 1.4 billion, indicating robust financial health.

Negative Points

Sales in the DACH region (Germany and Austria) declined by 2.9% due to intense competition and cautious consumer spending.

The company faced softer demand in Germany and Austria, highlighting regional challenges.

Despite overall growth, the retail environment remains highly competitive and volatile, posing ongoing challenges.

The company is still awaiting a concrete offer regarding shares from Mr. Kretinsky, indicating uncertainty in shareholder decisions.

There is a need for continued cost management, particularly in the DACH region, to maintain profitability amidst market challenges.

Q & A Highlights

Q: Have you decided whether to sell your shares to Mr. Kretinsky? A: We are still waiting for the concrete and detailed offer. Once received, we will analyze it and then make a decision. No decision has been made yet. - Dr. Kai-Ulrich Deissner, CEO

Q: Is the improvement in gross margin purely driven by mix, or did you benefit from a lower promotion share or better pricing? A: The improvement is not mix-driven. It results from strategic negotiations and offering products with better margins. Additionally, enhancing the customer journey online and offline with better accessory attachment has contributed to the margin improvement. - Remko Rijnders, CFO

Story Continues  

Q: Can you provide more color on the EBIT improvement in Poland? A: We are seeing initial signs of a turnaround in Poland due to a new management structure and improved capabilities in online and Service & Solutions. The positive results in Q1 are largely due to better online performance and technical capabilities. - Dr. Kai-Ulrich Deissner, CEO

Q: How do you plan to improve sales and EBIT in the DACH region? A: We are focusing on the top 200 products that generate 40% of our sales, ensuring availability and competitive pricing. Additionally, we have implemented a strong cost program focusing on location and indirect costs to improve EBIT. - Remko Rijnders, CFO

Q: What are the plans with JD.com, and will JoyBuy Express be available for MediaMarkt soon? A: The partnership with JD.com is focused on growth, particularly in logistics for faster and more reliable delivery. It is too early to comment on specific services like JoyBuy Express, but delivery capabilities are a key focus area. - Dr. Kai-Ulrich Deissner, CEO

Q: With EUR311 million EBIT achieved in Q1, how do you plan to achieve EUR500 million by the end of the year? A: There is a seasonality in our EBIT, with Q1 being crucial. We are focusing on cost management, especially in the DACH region, and accelerating growth in our growth businesses like Retail Media and Services to reach the EUR500 million target. - Remko Rijnders, CFO

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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