CECONOMY AG Q3 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Clement Genelot - Bryan, Garnier & Co - Analyst : Thank you and what a good morning. Just three quick questions from my side. So the first one is on DACH. Can we take a look back at DACH to really understand what is driving their improving like-for-like performance in Q3? Is it rather market driven or is it rather company-specific with some market share gains? And then on gross margin, how much of the gross margin increase in Q3 is actually I mean from core retail business versus new businesses? And the last one is about stocks. Well, I see on the balance sheet that the stocks are above this table in Q3 versus Q2. So does that mean that we have reached kind of normalized level going forward? Thank you.

Question: Alessandro Cuglietta - Kepler Cheuvreux - Analyst : Yes, hi. Thank you for taking my questions. I have three. So the first one is regarding the full-year guidance. Just to make sure that you said your adjusted EBIT improvement was going to be mainly driven by Western and Southern Europe, but do you also expect DACH region to contribute to EBIT growth. The other one is on your key KPIs. I was just wondering if any of them have actually exceeded your expectations or are they all are moving in line with your targets? And the last one is on gross margin, just to make sure I understand the difference between reported and adjusted. So I understood that there is a technical reallocation of OpEx, but is this a permanent change, or will it be reversed in the coming quarters? Thank you.

Question: Neill Keaney - J.P. Morgan Securities LLC - Analyst : Hey. Good morning, gentlemen. Thanks for the presentation. Just a quick one for me on the [rump] of the '26 notes that you have outstanding. Is the intention to still redeem those at maturity or given your liquidity position, would you consider redeeming them earlier than that?