DÜSSELDORF (dpa-AFX) - The electronics retailer Ceconomy expects further operational improvements in the new financial year. Sales in 2023/24 (as of the end of September) are expected to increase slightly adjusted for currency and portfolio effects, the company announced on Monday at the presentation of its annual balance sheet in Düsseldorf. Adjusted earnings before interest and taxes are expected to improve significantly. The operator of the Mediamarkt and Saturn consumer electronics stores is focusing on the predominantly German-speaking DACH region as well as Western and Southern Europe. The promotions around Black Friday and the pre-Christmas period were "well received" both in the stores and online. The first quarter with its Christmas business is traditionally the most important in Ceconomy's financial year.

In the past financial year, currency and portfolio-adjusted sales increased by 4.7 percent to 22.2 billion euros. The online share of total sales fell by 2.5 percentage points to 22 percent, but is expected to rise to 30 percent by 2025/26. Brick-and-mortar retail proved robust in the past financial year and grew by 6.6% to 16.9 billion euros. Thanks to cost savings, adjusted EBIT rose from 208 million to 243 million euros. However, Ceconomy was in the red due to a value adjustment on its stake in French competitor Fnac Darty, with a reported EBIT loss of 21 million euros. The sale of the Swedish and Portuguese business and restructuring costs also had a negative impact. Ceconomy had already presented preliminary figures at the end of October./nas/he