Ceconomy

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Ceconomy AG

logo
legal form Corporation
ISIN DE0007257503 ( common share )
DE0007257537 ( preferred share )
founding 1996 (in today's form 2017)
Seat Dusseldorf , GermanyGermanyGermany 
management
  • Bernhard Düttmann ( CEO )
Number of employees 53,954
sales 21.4 billion euros (2017/18)
Branch retail trade
Website www.ceconomy.de
As of September 30, 2018

Building Kaistrasse 3 in Duesseldorf-Hafen; current headquarters of Ceconomy

The Ceconomy AG (proper spelling: CECONOMY ) is a publicly traded German trading company for consumer electronics . Ceconomy operates the Mediamarkt and Saturn chains . It is a subgroup of the former Metro AG , whose remaining business was spun off on July 12, 2017.

history

Ceconomy was created in 2016/2017 through the reverse spin-off of the entertainment electronics business of the old Metro group. For this purpose, the grocery store was spun off from Metro, on August 11, 2017 the old Metro AG was renamed Ceconomy AG and the outsourced company Metro Wholesale & Food Specialist AG was then renamed Metro AG. The group hoped that the split would allow the two parts of the company to develop better separately. According to Metro, other reasons for the strategic division were the recently barely significant synergies between the food and electronics businesses. On February 6, 2017, Metro's general meeting approved the plans for the division. The spin-off was completed on July 12, 2017 with an entry in the commercial register at the Düsseldorf District Court.

In February 2017, she announced the establishment of the Retail Media Group (RMG). With the establishment of RMG, Ceconomy is to enter the so-called retail media business. Basically, the RMG should evaluate visitors and transaction data from web shops and stationary markets and sell advertising campaigns to advertisers. With the establishment of RMG, the group no longer relies on external service providers to market its e-commerce platforms.

After Ceconomy had to revise the earnings forecast for the current financial year for the third time on October 8, 2018, the share plunged to its previous record low. As a result, the company separated with immediate effect from CEO Pieter Haas and CFO Mark Frese, who left the company at the end of 2018. On January 1, 2019, Supervisory Board member Bernhard Düttmann took over the post of CFO on an interim basis. On March 1, 2019, Jörn Werner took over the position of CEO and Karin Sonnenmoser the position of Chief Financial Officer. On October 17, 2019, Jörn Werner separated as CEO, and Supervisory Board member Bernhard Düttmann is to take over the position for a period of twelve months.

description

Ceconomy's market position is based in particular on its stake in Media-Saturn-Holding GmbH . In the medium and long term, the company plans to establish or acquire further subsidiaries in the consumer electronics sector.

Holdings

Stock exchange and shareholder structure

The split Metro group was first listed on July 13, 2017; the Ceconomy share was initially included in the MDAX . In September 2018, the company left the MDAX and was included in the SDAX .

The company's share capital is divided into around 357 million ordinary shares and around 2.7 million preference shares . Most of the voting rights in the share capital are held by four major shareholders (see table). Around 47.2% of the ordinary shares are in free float. Free float shareholders who are required to report are DNCA Finance from Paris with a share of 3.10% of the voting share capital and J O HAMBRO Capital Management from London with a share of 3.01% as of mid-November 2018.

proportion of Shareholders
22.71% Franz Haniel & Cie. GmbH
14.33% Meridian Foundation , Essen
9.15% Freenet AG
6.62% Otto Beisheim Foundation
47.17% Free float

(As of November 13, 2018)

Web links

Individual evidence

  1. ↑ CECONOMY Board of Directors. Retrieved October 17, 2019 .
  2. ↑ Personnel changes at CECONOMY AG. Ceconomy AG, April 29, 2019, accessed June 15, 2019 .
  3. ↑ a b c d Annual Report 2017/18. Ceconomy, accessed January 24, 2019 .
  4. ↑ Annual Report 2016/17. Ceconomy, accessed May 25, 2018 .
  5. ↑ New METRO publishes listing prospectus , press release of the Metro Group from June 26, 2017.
  6. ↑ a b Metro and Media-Saturn go their own way. In: Focus Online. December 15, 2016, accessed June 15, 2019 .
  7. ↑ Shareholders decide to split up METRO GROUP. In: Metro Group. February 6, 2017, accessed June 15, 2019 .
  8. ↑ a b METRO GROUP press release. December 15, 2016, accessed December 15, 2016 .
  9. ↑ Retail Media Group: This is Metro's targeting offensive on advertising and selling from February 2, 2017, accessed on February 8, 2017
  10. ↑ Ceconomy: Metro Group enters the retail media business with a big ship , Horizont online from February 2, 2017
  11. ^ Joachim Hofer, Florian Kolf: Slump in profits at Media Markt and Saturn shocked the stock market. In: Handelsblatt. October 9, 2018, accessed October 13, 2018 .
  12. ↑ That was too stupid - MediaSaturn bosses have to go. In: manager magazin. Retrieved October 13, 2018 .
  13. ↑ Corporate News: Dr. Bernhard Düttmann. Retrieved December 19, 2018 .
  14. ↑ The Supervisory Board of CECONOMY AG appoints two new members of the Management Board. In: DGAP-Adhoc. Retrieved February 1, 2019 .
  15. ↑ The Supervisory Board of CECONOMY AG resolves changes in the group management. ceconomy.de, October 17, 2019, accessed on October 18, 2019 .
  16. ↑ Spiegel Online from December 15, 2016
  17. ↑ Image online from December 15, 2016
  18. ↑ Corporate structure of the Convergenta website
  19. ↑ Ceconomy successfully concludes Russia transaction with m-video / Safmar Ceconomy press release, August 31, 2018
  20. ↑ Ceconomy takes over 24% of the Fnac Darty shares EUWID, July 27, 2017
  21. ↑ Ceconomy sells its share in Metro AG Press release Ceconomy, September 20, 2018
  22. ↑ Metro succeeds in splitting Manager Magazin, July 13, 2017
  23. ↑ finanzen.net GmbH: INDEX MONITOR: Metro splitting whirls up the MDax - 07/12/17 - BÖRSE ONLINE. Retrieved September 6, 2018 .
  24. ↑ Wirecard rises: Founding member Commerzbank is thrown out of the Dax . In: FAZ.NET . ISSN  0174-4909 ( Online [accessed September 6, 2018]).
  25. ↑ CECONOMY ST share - share price - 725750 - Frankfurt Stock Exchange. Retrieved December 16, 2018 .
  26. ↑ CECONOMY VZ share - share price - 725753 - Frankfurt Stock Exchange. Retrieved December 16, 2018 .
  27. ↑ a b BaFin - Significant shares of voting rights according to Sections 33, 38 and 39 of the Securities Trading Act (WpHG). Retrieved January 24, 2019 .