CNOVA N.V. 2018 First Half Activity and Financial Results

Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova” or the “Company”) today announced its first half 2018 activity and unaudited financial results.

Strong double-digit GMV growth: €1,614m (+14% y-o-y)

  • 1H18 organic growth: +7.5% y-o-y
  • Multichannel strategy contribution: +6.4 pts
  • Cdiscount à Volonté (CDAV) share: 34.2% (+417 bp)
  • Faster growth in 2Q18 vs. 1Q18

15% y-o-y growth in net sales: €969m

Dynamic progression of the Marketplace

  • Increase in GMV share to 34.4% (+92 bp)
  • Strong acceleration since the beginning of 3Q18

Improved EBITDA: €(4)m vs. €(10)m in 1H17

  • €6m improvement vs. 1H17, despite a higher cost base due to c.50% increase in DC capacity
  • Partly driven by monetization revenue of €29m, up 35% and marketplace growth
  • 2Q18 EBITDA €15m better than 1Q18

Very material improvement in FCF generation, now positive

  • LTM FCF before interest expenses increased by €218m compared to LTM period ending June 30, 2017
  • €337m improvement between 1H18 and 1H17