CNOVA N.V. First quarter 2020 Activity

AMSTERDAM – April 17, 2020, 07:45 CEST — Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced unaudited operating data for the quarter ended March 31, 2020.

Company is fully secured and operational with a solid current trading

  • Company is fully operational while ensuring utmost safety for all employees
    • Fully operational and secured: 100% of headquarters homeworking and all 10 warehouses are running
    • Strict sanitary measures in all warehouses: social distancing, masks, disinfection, temperature check
  • Swift initiatives to meet new client needs in terms of delivery and product offerings
    • Product offer focused on essentials: teleworking equipment, home leisure, personal care and daily shop[1]
    • Priority to home delivery: free shipping for all clients from €50 basket, for CDAV clients from €10 basket
  • Solid current trading: fast-growing GMV & a more profitable model through a strong growth of the marketplace and categories with better margins
    • Over the last 4 weeks: +25% GMV growth driven by direct sales (+14%) and marketplace (+40%)[2]
  • Increasing marketplace GMV share: 47.5% (+5.1 pts vs LY)[3]
  • Direct sales margin increase: +5.5 pts vs LY[4]
  • Items sold growth: +44.4% vs LY2
    • All KPIs are accelerating since beginning of April confirming the trend
    • April to date: +35% GMV growth driven by direct sales (+15%) and marketplace (+63%)2
  • Increasing marketplace GMV share: 51.4% (+8.6 pts vs LY)3
  • Direct sales margin increase: +9.5 pts vs LY4
  • Items sold growth: +49.7% vs LY2
  • Solidarity: lead supplier for masks and helping proximity stores through marketplace
    • Supplying masks to public institutions and SMEs: planned delivery of 10m, dedicated website launched
    • Donation of 60,000 masks to medical institutions, tablets and PCs for confined patients
    • Helping French SMEs: simplified marketplace enrolment and 6-month free subscription



First quarter 2020 highlights

  • GMV: 900 million euros, back to growth in early March, stable over the quarter[5]
    • Growth rebound in early March after a challenging start with weak winter sales (2 weeks shorter)
  • Fast growing marketplace share in GMV driven by Fulfillment by Cdiscount
    • Growing marketplace GMV share: 38.3% (+2.4 pts)
    • Fulfillment by Cdiscount: +30% growth, +6.3 pts marketplace GMV share
  • Marketplace of services: x2.4 GMV the first 2 months
    • Very dynamic travel before Covid-19 impacts: x3.3 GMV for the first 2 months
    • Strong +50% Cdiscount Energy GMV growth in 1Q20, with now more than 100,000 clients
  • Expansion of international sales: +57% GMV growth
    • 73 websites connected (+26 vs end 2019), 25 European countries delivered