DÜSSELDORF (dpa-AFX) - Good business around Black Friday and Christmas in Europe has allowed the electronics retailer Ceconomy to make more profit. However, the German-speaking countries and Hungary are causing headaches for Group CEO Karsten Wildberger. Due to a weak retail and market environment combined with lower customer demand, both revenue and operating profit in the so-called DACH region declined. In a statement on Friday, the manager nevertheless spoke of a "successful start to the new 2023/24 financial year" and confirmed the outlook for the year.

As the SDax company also announced in Düsseldorf, earnings before interest and taxes climbed by eight percent to 248 million euros in the three months to the end of December. Industry experts had expected somewhat less. On balance, net profit grew by 20 million euros to 147 million euros.

In the current financial year 2023/24 (as at the end of September), turnover adjusted for exchange rate and portfolio effects is expected to increase slightly compared to the previous year. However, earnings before interest and taxes (EBIT) should increase significantly due to a marked improvement in the largest regions DACH and Western and Southern Europe (Belgium, Italy, Luxembourg, the Netherlands and Spain)./ngu/he