AMSTERDAM, October 26, 2016, 07:45 CEST — Cnova N.V. (NASDAQ & Euronext in Paris: CNV, ISIN: NL0010949392) (“Cnova” or the “Company”) today announced its unaudited financial results for the third quarter 2016.
As a result of the Reorganization Agreement dated as of August 8, 2016, by and between the Company, Cnova Brazil, and Via Varejo S.A., pursuant to which Cnova Brazil will be reorganized within Via Varejo, Cnova Brazil is classified as a discontinued activity as of January 1, 2015. Therefore, all Cnova financial and operational metrics in this press release refer only to Cdiscount and to Cnova Holding with the exception of Page 4 and Annex C, which provide a summary financial results analysis and selected metrics for Cnova Brazil.
Gross merchandise volume (GMV1): €681 million (+6%)
- Orders: +18.8%
- Marketplace share at 33.3% (+347 bps)
- Nine‐month 2016 GMV: +12.3%
Net sales: €414 million (+3%)
- Including an impact of ‐3% from a pullback of business‐to‐business (“B2B”) sales
- Nine‐month 2016 net sales: +9.1%
Gross profit at Cdiscount France (CDF): €58 million (+6%)
- CDF gross margin: 14.1% (+40 bps)
Operating EBIT at CDF: €2 million (vs €1 million in 3Q15)
- CDF EBIT margin: 0.4%, up +14 bps
- Nine‐month 2016 CDF EBIT: breakeven (vs ‐€11 million 9M15)
Free cash flow (LTM): breakeven
- Net cash from continuing operations fully finances capex