Mediamarkt and Saturn want to sell e-cars

Ceconomy is the parent company of Mediamarkt and Saturn, which together form Europe’s largest electronics retailer. The international retail group based in Düsseldorf operates more than 1,000 electronics stores in twelve countries.

Its CEO is 55-year-old Karsten Wildberger, a doctor of physics who was on the Eon board before joining Ceconomy.

With Ceconomy, he faces major challenges in times of persistent inflation. Wildberger announced that structures would be simplified and complexity reduced. The goal: cost reductions, also in the area of ​​personnel costs. The magnitude of this has not yet been determined; he only wants to give concrete figures in this regard in the summer.

But he is already revealing that Mediamarkt and Saturn should also become part of the e-car market. In an interview with the business week Wildberger explained that they are going into “new, profitable, high-growth categories” and also mentioned the electromobility division.

Specifically, they want to become “partners of automobile manufacturers,” he said. This is already happening abroad, where electric cars are already being offered in some markets, including “suitable packages” for electricity purchases and advice on the subject of e-mobility.

Wildberger now wants to bring this concept to Germany. He left open which car brands he wants to cooperate with. He only pointed out that in Spain they work with Volvo, among others. Sustainability, he explained, is an obligation for Ceconomy – “and at the same time a growth market”.

The topic of cost reduction is also a central topic at Ceconomy, especially in economically uncertain times like the current one. Wildberger cannot remember ever having experienced “times with so many simultaneous crises”.

That is why he has prepared two different scenarios for the financial year. “If the framework conditions do not deteriorate any further and the market for consumer electronics remains stable, we expect a slight increase in sales and a significant improvement in earnings,” he explained. “If the economic environment continues to deteriorate, we must expect sales and earnings to decline.”

He currently considers the positive scenario to be more likely and points out that the company is currently developing well in Germany and is gaining market share. “But we remain vigilant,” he emphasized.