MediaMarktSaturn makes trust the decisive growth driver, ambitious targets for 2028/29

Düsseldorf, 9 July 2026 — CECONOMY AG (“CECONOMY”) is delivering on its three-year strategy, with adjusted EBIT set to more than double to €500m in FY 2025/26, up from €240m in FY 2022/23. Almost all growth areas are exceeding their targets. Building on the success of its Experience Electronics strategy, MediaMarktSaturn’s parent company is now moving into the next phase, aiming to become Europe’s most trusted tech platform through “Moments of Trust.” Trust has always been firmly anchored in MediaMarktSaturn's DNA. What is new is that it is now being harnessed as a strategic management principle and growth driver for the entire business model.

At Capital Markets Day (CMD) 2023, CECONOMY presented its Experience Electronics strategy and set an ambitious target: adjusted EBIT of €500 m by FY 2025/26, more than double the starting level. The company will achieve this target by the end of the current financial year. The brand value[1] of MediaMarktSaturn has also grown significantly, doubling between 2023 and 2025 to around USD 2.1 bn.

The strategy was implemented along Experiences. The company has thereby transformed itself from a traditional retailer into an omnichannel service platform that consistently places customers at the center and offers services and solutions along the full product lifecycle. More than 40% of gross profit is now generated outside the core retail business.

To further increase profitability, the company announced at CMD 2023 that it would focus on nine strategic metrics, known as Key Pledges. Of these, the Group has met three and exceeded five:

·       Loyalty members: more than 58 million

·       Services & Solutions: income share increased to 6% of total sales

·       Marketplace sales (GMV): €800m

·       Retail Media income: €150m

·       Stock reach:[2] improved by 16%

Remko Rijnders, CEO of CECONOMY, said: “We are keeping our promise: our adjusted EBIT will rise to around €500m in FY 2025/26. Going forward, we will focus even more strongly on the trust of our customers. In a world that is becoming increasingly complex and digital, we are the answer: real people, real advice, real solutions. All of this is only possible thanks to our 50,000 employees and their passion for Experience Electronics.”

In a world where rapid technological development and an almost limitless variety of products are making purchasing decisions increasingly complex, consumers are looking for guidance and reliability. The decisive question that millions of customers ask themselves every day is: Who can I trust? The answer: MediaMarktSaturn.

Trust is created through the four established Experiences, all of which are geared toward this goal:

Employee Experience: 50,000 employees in more than 1,000 stores create something every day that no online competitor can offer: genuine personal advice. AI helps them become even better without replacing them.

Shopping Experience: AI-powered product finder, 90-minute delivery, direct payment on the shop floor: MediaMarktSaturn delivers the right product at the right time, across every channel. The focus is on relevance, not volume.

Usage Experience: The trusted relationship does not end at the checkout. From installation, repair and trade-in to refurbished devices, MediaMarktSaturn supports customers throughout the entire product lifecycle — with real-time tracking and personal contact.

Impact Experience: Trust along the value chain: MediaMarktSaturn holds itself and its partners equally accountable — from data ethics to more sustainable practices. The company aims to reduce its Scope 3 carbon emissions by 33% by 2033.

All these initiatives build customer trust and foster closer relationships. The underlying business logic is clear: customers who trust MediaMarktSaturn use the platform more frequently, buy more products, use more services, and are significantly more satisfied. The result is a measurably higher Customer Lifetime Value and a business model that grows stronger as trust increases. The Net Promoter Score (NPS), a measure of customer satisfaction, has risen by ten points over the past three years to 61.

MediaMarktSaturn’s growth areas have developed strongly and become proven drivers of profitability. Together, they are expected to generate more than 50% of the Group’s gross profit by FY 2028/29 — compared to 44% today.

The gross profit of the Services & Solutions business has grown by €300 m over the past three years and is expected to reach €1.4 bn in FY 2025/26. The target for FY 2028/29 is €1.65 bn. One remarkable figure illustrates how well the service offering is being received: NPS in the After Sales & Repair segment has risen by 39 points over the past three years.

The Marketplace has developed rapidly: sales (GMV) will grow from €140 m in FY 2022/23 to €800 m in FY 2025/26, significantly exceeding the CMD target. The target for FY 2028/29 is €1.9bn, supported by rollout in additional countries and the expansion of the fulfillment offering for partners.

The Private Label business is also continuing to gain in importance. In actively served categories such as accessories and small appliances, the Private Label share is already around 11%. The overall target for FY 2028/29 is 7%, including refurbished products.

The Space-as-a-Service concept is evolving into a full Retail-as-a-Service offering: MediaMarktSaturn offers its partners not only floor space in its stores, but also the associated logistics, expertise, promoters, and data-based insights. Gross profit is expected to increase from €50 m to €90 m by FY 2028/29.

Retail Media is significantly exceeding its own expectations: gross profit will rise from €20 m in FY 2022/23 to €150 m in FY 2025/26 — more than three times the original target. By FY 2028/29, gross profit is expected to reach €230 m.

Based on its strong growth areas and stable omnichannel core performance, CECONOMY is setting clear targets for FY 2028/29:

·       Adjusted EBIT of €800m — an increase of 60% compared to FY 2025/26, supported by operational improvements and expected synergies from the partnership with JD.com

·       Net sales of around €24bn, corresponding to a CAGR of 1.3%

·       Free Cash Flow of around €300m

·       An increase in annual investments to around €350m to systematically expand technological and logistics capabilities

·       NPS to increase to 66 points and repurchase rate to rise from around 50% today to 54% by FY 2028/29

Four levers are driving the increase in profitability: higher gross profit from high-margin growth areas, expected synergies from the partnership with JD.com, strict cost discipline with a stable cost ratio, and sales growth slightly above the market. Free Cash Flow will primarily be driven by EBIT improvement and sustained margin expansion.

The planned partnership with JD.com — one of the world’s leading technology and supply chain service providers — is set to give the strategy additional momentum. Both companies share the same fundamental convictions: a consistent customer-centric approach, a strong omnichannel model, and a long-term investment horizon. JD.com itself operates more than 10,000 stores of its own and, like MediaMarktSaturn, has made sustained investments in the omnichannel model. Both sides are convinced that the physical store is a strategic asset.

Through this partnership, MediaMarktSaturn will gain access to JD.com’s leading technology, its omnichannel retail architecture, and its logistics infrastructure — years of technology development compressed into a single partnership. MediaMarktSaturn will remain fully technologically sovereign: its own IT systems, data, and customer architecture will remain independent. JD.com has also committed to building a separate, fully independent European tech stack.

Following the investment control clearances already granted in France and Italy, the German Federal Ministry for Economic Affairs and Energy granted clearance on 29 June 2026, further underscoring the regulatory viability of the transaction. The company continues to expect all approvals to be granted in the second half of 2026.

[1] Source: Brand Finance

[2] The stock reach indicates how many days the current stock level will last to meet demand.