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Ceconomy

BATS-CHIXE:CEC1D
Snowflake Description

Undervalued with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CEC1D
BATS-CHIXE
€758M
Market Cap
  1. Home
  2. GB
  3. Retail
Company description

Ceconomy AG engages in the consumer electronics retail business. The last earnings update was 61 days ago. More info.


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CEC1D Share Price and Events
7 Day Returns
0%
BATS-CHIXE:CEC1D
5.9%
GB Specialty Retail
1.7%
GB Market
1 Year Returns
-
BATS-CHIXE:CEC1D
-28.1%
GB Specialty Retail
-21.8%
GB Market
CEC1D Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ceconomy (CEC1D) 0% 0% - - - -
GB Specialty Retail 5.9% -24.4% -39.5% -28.1% -38.7% -44.3%
GB Market 1.7% -12% -25.3% -21.8% -22.8% -22.4%
1 Year Return vs Industry and Market
  • No trading data on CEC1D.
  • No trading data on CEC1D.
Price Volatility
CEC1D
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Ceconomy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ceconomy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ceconomy.

BATS-CHIXE:CEC1D Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BATS-CHIXE:CEC1D
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.862 (1 + (1- 30%) (366.38%))
2.389
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (2 * 5.44%)
11.41%

Discounted Cash Flow Calculation for BATS-CHIXE:CEC1D using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ceconomy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BATS-CHIXE:CEC1D DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.41%)
2020 135.03 Analyst x7 121.20
2021 206.70 Analyst x5 166.53
2022 234.20 Analyst x5 169.36
2023 243.00 Analyst x1 157.73
2024 249.16 Est @ 2.54% 145.16
2025 253.98 Est @ 1.93% 132.82
2026 257.82 Est @ 1.51% 121.02
2027 260.96 Est @ 1.22% 109.95
2028 263.60 Est @ 1.01% 99.69
2029 265.89 Est @ 0.87% 90.25
Present value of next 10 years cash flows €1,313.00
BATS-CHIXE:CEC1D DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €265.89 × (1 + 0.53%) ÷ (11.41% – 0.53%)
€2,456.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,456.77 ÷ (1 + 11.41%)10
€833.92
BATS-CHIXE:CEC1D Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,313.00 + €833.92
€2,146.92
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,146.92 / 359.41
€5.97
BATS-CHIXE:CEC1D Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:CEC1D represents 2.33209x of XTRA:CEC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
2.33209x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 5.97 x 2.33209
€13.93
Value per share (EUR) From above. €13.93
Current discount Discount to share price of €5.00
= -1 x (€5.00 - €13.93) / €13.93
64.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ceconomy is available for.
Intrinsic value
>50%
Share price is €5 vs Future cash flow value of €13.93
Current Discount Checks
For Ceconomy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ceconomy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ceconomy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ceconomy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ceconomy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:CEC1D PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.51
XTRA:CEC Share Price ** XTRA (2020-01-22) in EUR €2.14
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PE Ratio Median Figure of 23 Publicly-Listed Specialty Retail Companies 8.1x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ceconomy.

BATS-CHIXE:CEC1D PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:CEC Share Price ÷ EPS (both in EUR)

= 2.14 ÷ 0.51

4.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ceconomy is good value based on earnings compared to the GB Specialty Retail industry average.
  • Ceconomy is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Ceconomy's expected growth come at a high price?
Raw Data
BATS-CHIXE:CEC1D PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
24.1%per year
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PEG Ratio Median Figure of 15 Publicly-Listed Specialty Retail Companies 0.8x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:CEC1D PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.2x ÷ 24.1%

0.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ceconomy is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Ceconomy's assets?
Raw Data
BATS-CHIXE:CEC1D PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €2.66
XTRA:CEC Share Price * XTRA (2020-01-22) in EUR €2.14
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PB Ratio Median Figure of 36 Publicly-Listed Specialty Retail Companies 0.63x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.13x
BATS-CHIXE:CEC1D PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:CEC Share Price ÷ Book Value per Share (both in EUR)

= 2.14 ÷ 2.66

0.81x

* Primary Listing of Ceconomy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ceconomy is overvalued based on assets compared to the GB Specialty Retail industry average.
X
Value checks
We assess Ceconomy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. Ceconomy has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Ceconomy expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ceconomy expected to grow at an attractive rate?
  • Ceconomy's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Ceconomy's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Ceconomy's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:CEC1D Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:CEC1D Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 24.1%
BATS-CHIXE:CEC1D Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 2.6%
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 16.8%
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BATS-CHIXE:CEC1D Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:CEC1D Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-09-30 23,851 1
2023-09-30 22,430 577 402 4
2022-09-30 21,446 515 293 9
2021-09-30 21,233 462 243 12
2020-09-30 20,496 424 171 10
2020-04-08
BATS-CHIXE:CEC1D Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 21,397 135 184
2019-09-30 21,455 86 121
2019-06-30 21,412 107 167
2019-03-31 21,433 590 111
2018-12-31 21,536 662 25
2018-09-30 21,418 684 22
2018-06-30 21,598 592 16
2018-03-31 21,641 736 66
2017-12-31 21,473 -356 161
2017-09-30 21,605 758 134
2017-06-30 21,504 1,485 27
2017-03-31 21,564 1,229 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ceconomy's earnings are expected to grow significantly at over 20% yearly.
  • Ceconomy's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BATS-CHIXE:CEC1D Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Ceconomy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:CEC1D Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-09-30
2023-09-30
2022-09-30 0.70 0.78 0.56 5.00
2021-09-30 0.59 0.75 0.29 7.00
2020-09-30 0.40 0.81 -0.22 7.00
2020-04-08
BATS-CHIXE:CEC1D Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.51
2019-09-30 0.34
2019-06-30 0.47
2019-03-31 0.32
2018-12-31 0.07
2018-09-30 0.07
2018-06-30 0.05
2018-03-31 0.20
2017-12-31 0.49
2017-09-30 0.41
2017-06-30 0.08
2017-03-31 0.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Ceconomy is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Ceconomy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ceconomy has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Ceconomy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ceconomy's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ceconomy has delivered over 20% year on year earnings growth in the past 5 years.
  • Ceconomy's 1-year earnings growth exceeds its 5-year average (636% vs 63.5%)
  • Ceconomy's earnings growth has exceeded the GB Specialty Retail industry average in the past year (636% vs 1.5%).
Earnings and Revenue History
Ceconomy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ceconomy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:CEC1D Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 21,397.00 184.00 4,045.00
2019-09-30 21,455.00 121.00 4,112.00
2019-06-30 21,412.00 167.00 4,139.00
2019-03-31 21,433.00 111.00 4,111.00
2018-12-31 21,536.00 25.00 4,114.00
2018-09-30 21,418.00 22.00 4,099.00
2018-06-30 21,598.00 16.00 4,122.00
2018-03-31 21,641.00 66.00 4,176.00
2017-12-31 21,473.00 161.00 4,183.00
2017-09-30 21,605.00 134.00 4,210.00
2017-06-30 21,504.00 27.00 4,223.00
2017-03-31 21,564.00 14.00 4,226.00
2016-12-31 21,873.00 -12.00 4,279.00
2016-09-30 21,870.00 47.00 4,294.00
2016-06-30 31,080.00 -226.00 6,241.00
2016-03-31 40,358.00 -51.00 8,008.00
2015-12-31 48,791.00 -446.00 9,853.00
2015-09-30 59,219.00 -263.00 11,614.00
2015-06-30 59,382.00 45.00 11,579.00
2015-03-31 59,583.00 -143.00 11,632.00
2014-12-31 58,534.00 -189.00 11,340.00
2014-09-30 59,937.00 -57.00 11,762.00
2014-06-30 61,072.00 -149.00 12,123.00
2014-03-31 62,187.00 -37.00 12,430.00
2013-12-31 65,042.00 380.00 13,169.00
2013-09-30 65,680.00 -35.00 13,614.00
2013-06-30 66,027.00 118.00 13,388.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ceconomy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Ceconomy used its assets less efficiently than the GB Specialty Retail industry average last year based on Return on Assets.
  • Ceconomy has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ceconomy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ceconomy has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Ceconomy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ceconomy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ceconomy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Ceconomy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ceconomy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 18.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ceconomy Company Filings, last reported 3 months ago.

BATS-CHIXE:CEC1D Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,044.00 477.00 2,796.00
2019-09-30 784.00 252.00 1,197.00
2019-06-30 744.00 434.00 1,019.00
2019-03-31 806.00 445.00 1,434.00
2018-12-31 802.00 302.00 2,870.00
2018-09-30 665.00 397.00 1,539.00
2018-06-30 424.00 724.00 1,381.00
2018-03-31 668.00 666.00 1,486.00
2017-12-31 750.00 611.00 3,077.00
2017-09-30 667.00 512.00 1,528.00
2017-06-30 -445.00 274.00 2,098.00
2017-03-31 -2,717.00 285.00 2,348.00
2016-12-31 5,660.00 4,797.00 8,232.00
2016-09-30 5,332.00 3,508.00 2,828.00
2016-06-30 5,203.00 5,456.00 5,014.00
2016-03-31 5,252.00 5,612.00 5,559.00
2015-12-31 5,714.00 5,661.00 9,437.00
2015-09-30 5,172.00 6,153.00 5,651.00
2015-06-30 4,694.00 7,243.00 4,510.00
2015-03-31 4,464.00 8,003.00 5,558.00
2014-12-31 5,061.00 6,403.00 7,959.00
2014-09-30 4,999.00 5,791.00 3,056.00
2014-06-30 5,044.00 8,159.00 4,883.00
2014-03-31 5,228.00 7,669.00 4,298.00
2013-12-31 5,698.00 7,063.00 7,571.00
2013-09-30 5,206.00 6,560.00 3,224.00
2013-06-30 5,287.00 8,533.00 4,546.00
  • Ceconomy's level of debt (45.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (102.1% vs 45.7% today).
  • Debt is well covered by operating cash flow (28.3%, greater than 20% of total debt).
  • Ceconomy earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Ceconomy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ceconomy has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Ceconomy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ceconomy dividends. Estimated to be 9.74% next year.
If you bought €2,000 of Ceconomy shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ceconomy's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ceconomy's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BATS-CHIXE:CEC1D Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 4.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BATS-CHIXE:CEC1D Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-09-30
2023-09-30
2022-09-30 0.30 6.00
2021-09-30 0.22 10.00
2020-09-30 0.12 8.00
2020-04-08
BATS-CHIXE:CEC1D Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-08-13 0.000 0.000
2019-05-21 0.000 0.000
2019-02-11 0.000 0.000
2018-12-19 0.000 0.000
2017-12-19 0.260 3.718
2016-12-14 1.000 6.118
2015-12-15 1.000 3.696
2015-01-16 0.900 3.114
2014-12-16 0.900 3.595
2014-07-31 0.000 0.000
2014-05-08 0.000 0.000
2014-02-11 0.000 0.000
2013-12-12 0.000 0.000
2013-03-20 1.000 3.629
2012-08-06 1.350 5.972
2012-07-31 1.350 5.965
2012-05-23 1.350 6.112
2011-03-22 1.350 4.118
2010-03-17 1.180 2.504

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ceconomy has not reported any payouts.
  • Unable to verify if Ceconomy's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ceconomy's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ceconomy has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
X
Income/ dividend checks
We assess Ceconomy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ceconomy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ceconomy has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Ceconomy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bernhard Düttmann
COMPENSATION €80,000
AGE 60
TENURE AS CEO 0.5 years
CEO Bio

Dr. Bernhard Düttmann has been Independent Member of Supervisory Board at alstria office REIT-AG since January 3, 2017. He serves as a Managing Director at Rhein Invest GmbH. He serves as Chairman of Management Board, Chief Executive Officer and Labour Director of Ceconomy AG since October 17, 2019. Dr. Düttmann has been a Member of the Executive Board at Beiersdorf Holding France Sarl since 2006. Dr. Düttmann served as Member of the Management Board and Labour Director at Ceconomy AG from January 01, 2019 to March 31, 2019. Dr. Düttmann was an Interim Chief Financial Officer at Ceconomy AG since December 2018. Dr. Düttmann served as Member of the Supervisory Board of Vossloh AG since May 09, 2018 until December 31, 2019. Dr. Düttmann serves as Member of Management Board at LANXESS Corporation. He served as Member of Management Board at LANXESS Inc. He served as the Chief Financial Officer of Lanxess AG from April 1, 2011 to March 31, 2015 and as its Member of the Board of Management since February 3, 2011. He served as Chief Financial Officer of Beiersdorf AG from October 1, 2006 to February 9, 2011, Head of Controlling, Legal & IT until February 9, 2011 and as its Member of the Executive Board from 2006 to February 9, 2011. He was latterly the Executive Board Member responsible for Finance/Human Resources and held regional responsibility for the Middle East, Africa and Turkey. He joined Beiersdorf AG in Hamburg, Germany, in 1989 and worked in Controlling Affiliates until 1991 and then served as Regional Sales Manager and International Product Manager in the tesa Consumer Division. From 1994 to April 1999, Dr. Düttmann served as Vice President Finance & Controlling at the Beiersdorf affiliate Four Pillars-Beiersdorf Pte. Ltd., and served as Vice President Controlling for the global tesa business. He worked as an assistant at the Institute for Industrial Management at the University of Hamburg from 1986 to 1988. He served as Chief Financial Officer of tesa AG (Tesa SE) since March 2001 and its Member of the Management Board also as its Executive Vice President of Consumer Business Unit since 2005. He served as Interim Chairman of The Board of Management of Lanxess AG from February 28, 2014 to April 1, 2014. He joined the Corporate Organization Department of Bayer AG as an internal advisor. In 1993, he became a strategy advisor in the Strategic Planning Department, where he helped to set up the Mergers and Acquisitions (M&A) Unit. In 1997, van Roessel became Head of Strategic Marketing for Styrenics in the Plastics Business Group and he was appointed Head of European Marketing for Polycarbonates in 2001. In the newly formed Bayer Polymers subgroup, he assumed responsibility for Global Operations Polyester/TPU/Films. When LANXESS was established in 2004, he became Head of the Rubber Chemicals business unit and in June 2006, he was additionally appointed Managing Director of LANXESS N.V., in Antwerp, Belgium. He served as Vice Chairman of Supervisory Board of GfK Custom Research, LLC. He served as Vice Chairman of Supervisory Board at GfK SE since May 17, 2013 until May 20, 2016 and served as its Member of the Supervisory Board since May 26, 2011 until May 20, 2016. He has been Member of Supervisory Board of LANXESS AG since February 3, 2011. He serves as Member of Supervisory Board at GfK Custom Research, LLC. He served as Member of the Supervisory Board at Ceconomy AG since April 01, 2019 until October 2019. He serves as Member of the Supervisory Board of the Society for Consumer Research (GfK). He serves as Member of the Board of the German Equities Institute (DAI). Dr. Düttmann served as a Member of Supervisory Board at Tesa SE. He serves as Member of the German Financial Executives Institute (GEFIU). He is Member of the Board of the VCI Regional Association in North Rhine-Westphalia. He is Member of the VCI Trade Policy Committee. He is Member of the 1 b Experience-Exchange Group of the German Association for Personnel Management (DGFP). He studied business administration at the University of Cologne. He obtained his Ph.D. at the University of Cologne in 1989.

CEO Compensation
  • Bernhard's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bernhard's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the Ceconomy management team in years:

1.1
Average Tenure
  • The average tenure for the Ceconomy management team is less than 2 years, this suggests a new team.
Management Team

Bernhard Düttmann

TITLE
CEO, Labour Director & Member of Management Board
COMPENSATION
€80K
AGE
60
TENURE
0.5 yrs

Karin Sonnenmoser

TITLE
CFO & Member of Management Board
TENURE
1.1 yrs

Stephanie Ritschel

TITLE
Vice President Investor Relations

Hans-Jürgen Matern

TITLE
Head of Strategic Quality Management and Head of Regulatory Affairs & External Relations Qshe

Michael Wedell

TITLE
Global Director of Corporate Communications & Public Policy

Bernd Mediger

TITLE
Head of Properties for Real
TENURE
7.7 yrs

Rudiger Stahlschmidt

TITLE
Head of External Communication

Didier Fleury

TITLE
Chief Executive Officer of Real

Ferran Reverter

TITLE
CEO of Media-Saturn-Holding
Board of Directors Tenure

Average tenure and age of the Ceconomy board of directors in years:

3.5
Average Tenure
57
Average Age
  • The tenure for the Ceconomy board of directors is about average.
Board of Directors

Jürgen Fitschen

TITLE
Chairman of the Supervisory Board
COMPENSATION
€240K
AGE
71
TENURE
2.8 yrs

Sylvia Woelke

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€113K
AGE
41
TENURE
0.3 yrs

Karin Dohm

TITLE
Member of the Supervisory Board
COMPENSATION
€143K
AGE
47
TENURE
4.2 yrs

Rainer Kuschewski

TITLE
Member of the Supervisory Board
COMPENSATION
€110K
AGE
68
TENURE
15.3 yrs

Florian Funck

TITLE
Member of the Supervisory Board
COMPENSATION
€120K
AGE
48
TENURE
7.9 yrs

Fredy Raas

TITLE
Member of the Supervisory Board
COMPENSATION
€80K
AGE
60
TENURE
6.8 yrs

Jürgen Schulz

TITLE
Member of Supervisory Board
COMPENSATION
€140K
AGE
58
TENURE
4.3 yrs

Jo Harlow

TITLE
Member of the Supervisory Board
COMPENSATION
€80K
AGE
57
TENURE
2.8 yrs

Daniela Eckardt

TITLE
Member of the Supervisory Board
COMPENSATION
€20K
AGE
45
TENURE
2.8 yrs

Ludwig Glosser

TITLE
Member of the Supervisory Board
COMPENSATION
€93K
AGE
57
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Ceconomy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ceconomy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Ceconomy AG engages in the consumer electronics retail business. It operates multi-channel consumer electronics stores; and Juke, a music streaming service. The company also operates iBood, a live shopping portal; and Flip4New, an online service for selling used electronic devices online. In addition, it offers professional assistance, including installation, networking, and troubleshooting of electronic appliances under the Deutsche Technikberatung brand; and services for advertisers to develop online campaigns. The company has approximately 850 stores in 14 countries under the MediaMarkt brand; and approximately 170 stores under the Saturn brand. It operates in Germany, Austria, Switzerland, and Hungary, as well as in Western, Southern, and Eastern Europe. Ceconomy AG is headquartered in Düsseldorf, Germany.

Details
Name: Ceconomy AG
CEC1D
Exchange: BATS-CHIXE
Founded:
€757,948,901
359,406,918
Website: http://www.ceconomy.de
Address: Ceconomy AG
Benrather Strasse 18–20,
Düsseldorf,
North Rhine-Westphalia, 40213,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA CEC Common Stock XETRA Trading Platform DE EUR 23. Jul 1996
OTCPK MTAG.F Common Stock Pink Sheets LLC US USD 23. Jul 1996
DB CEC Common Stock Deutsche Boerse AG DE EUR 23. Jul 1996
LSE 0MPM Common Stock London Stock Exchange GB EUR 23. Jul 1996
SWX CEC Common Stock SIX Swiss Exchange CH CHF 23. Jul 1996
WBAG CEC Common Stock Wiener Boerse AG AT EUR 23. Jul 1996
BMV CEC N Common Stock Bolsa Mexicana de Valores MX MXN 23. Jul 1996
ETLX MEOG-U Common Stock Eurotlx IT EUR 23. Jul 1996
OTCPK MTTR.Y UNSPON ADR EACH REPR 0.2 ORD SHS Pink Sheets LLC US USD 21. Dec 2010
XTRA CEC1 Preferred Stock XETRA Trading Platform DE EUR 23. Jul 1996
OTCPK MTGG.Y UNSPONSORD ADR Pink Sheets LLC US USD 27. Oct 2017
DB CEC1 Preferred Stock Deutsche Boerse AG DE EUR 23. Jul 1996
BST MEOD UNSPON ADR EACH REPR 0.2 ORD SHS Boerse-Stuttgart DE EUR 21. Dec 2010
LSE 0F8A Preferred Stock London Stock Exchange GB EUR 23. Jul 1996
BATS-CHIXE CEC1D Preferred Stock BATS 'Chi-X Europe' GB EUR 23. Jul 1996
Number of employees
Current staff
Staff numbers
50,094
Ceconomy employees.
Industry
Computer and Electronics Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 21:29
End of day share price update: 2020/01/22 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/02/07
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.