Post #1528

JD.com ↔ M.Video-El Dorado 2025 (USD) ├── JD.com (FY 2024) │ ├── Revenue: │ │ $162.3 B │ ├── Net profit: │ │ $5.8 B │ ├── Cash & cash equivalents: │ │ $32.1 B │ └── Net debt: │ │ $2.6 B │ ├── Ceconomy AG → JD.com │ ├── Deal value: │ │ $2.5 B │ └── Stake in M.Video: │ │ 15 % ≈ $0.45 B │ │ (Ceconomy’s share of │ │ M.Video market-cap │ │ ≈ $3.0 B) │ └── M.Video-El Dorado (IFRS 2024) ├── Revenue: │ $4.91 B ├── GMV: │ $6.16 B │ ├── Online GMV: │ │ $4.56 B (74 %) │ └── Offline GMV: │ $1.60 B (26 %) ├── EBITDA: │ $0.41 B │ (8.3 % margin) ├── Net loss: │ $0.22 B │ (vs $0.07 B in 2023) ├── Net debt: │ $1.67 B │ └── Net debt / EBITDA: │ 4.1 × ├── Lease liabilities: │ $0.74 B │ (included in net debt) └── Recent SPO: $0.37 B (May 2025)