Cnova N.V. - CNV STOCK NEWS

Cnova N.V. announces the appointment of Steven Geers as an executive board member effective December 21, 2021, succeeding Arnaud Strasser, who resigned on the same day. Geers continues as General Counsel, and his term lasts until the next general shareholders' meeting. The board now consists of 2 executive and 7 non-executive members. Chairman Jean-Yves Haagen expressed confidence in Geers' legal expertise to aid decision-making.

Cnova N.V. appoints Mr. Luc Péligry as the new Chief Financial Officer, effective November 17, 2021. He brings extensive experience in finance, risk management, and logistics, aimed at enhancing performance management across the organization, particularly for Cdiscount and Octopia. Mr. Maxime Dubarry will transition from interim CFO back to Deputy CFO. CEO Emmanuel Grenier expresses confidence in Péligry's ability to contribute significantly to growth initiatives while maintaining financial discipline.

Cnova reported a +8% growth in GMV for Q3 2021, despite soft market conditions influenced by reopening. Marketplace revenues increased to €45m in Q3, totaling €201m LTM (+20%). Digital marketing revenues surged +31% year-on-year, reaching €17m. Notably, the customer loyalty program Cdiscount A Volonté gained +10.8%, with members now totaling 2.4 million. However, due to declining market demand, Cnova will not meet previously set guidance for GMV, sales, and EBITDA for the year.

Cnova N.V. reported strong financial performance for the first half of 2021, achieving a total GMV of €1.99 billion, marking a 2.3% year-on-year increase. Marketplace revenues rose by 17% to €199 million, driven by a 33% growth in GMV share. Digital marketing revenues soared by 44% to €29 million. Octopia's growth more than tripled its GMV to €53 million, up 60% year-on-year. The company confirmed its 2021 EBITDA target of €160 million. Despite a slight net loss from continuing operations of €19.2 million, overall metrics reflect a solid recovery from the previous year.

Cnova N.V. hosted an analyst presentation on June 7, 2021, outlining its capital increase plans to support growth. The company aims for a GMV exceeding €12 billion and sales over €4 billion by 2025, with a projected EBITDA growth of low- to mid-30% CAGR from 2021 to 2025. For 2021, it projects approximately €4.5 billion in GMV, €2.3 billion in sales, and EBITDA over €160 million. The summary emphasizes Cnova's strong performance in the e-commerce sector, supported by its platform Cdiscount and the marketplace solutions from its subsidiary Octopia.

Cnova N.V. is planning a capital increase of approximately €300 million to fund accelerated growth and international expansion. The company reported strong financial performance in 2020, with €4.2 billion in Gross Merchandise Volume (GMV), €2.2 billion in net sales, and an EBITDA of €133 million, reflecting a 62.5% growth. For 2021, Cnova expects EBITDA to reach €160 million, a 20% increase from 2020. By 2025, the aim is to exceed €12 billion in total GMV, primarily driven by its marketplace and tech-enabled B2B solutions via its subsidiary Octopia.

Cnova N.V. reported a strong performance in Q1 2021, with Gross Merchandise Volume (GMV) increasing by 12% to €1,006 million. Marketplace growth was a key driver, rising 34% and now comprising 46% of total GMV. Marketplace revenues grew 43% to €197 million over the last twelve months. Digital marketing revenues also surged, climbing 43%. The company's Octopia solution saw an impressive 86% growth, now connected to 518 websites. Cnova served over 10.5 million active customers, reflecting a 15% increase from the previous year.

Cnova N.V. has published its annual financial report for 2020, now available on its website. The report includes crucial details regarding the company's performance and is filed with the Dutch Authority for the Financial Markets. Additionally, Cnova announced the date for its 2021 Annual General Meeting (AGM) set for May 28, 2021. The meeting will cover various important agenda items, including the adoption of annual accounts and the reappointment of board members. Furthermore, Cnova has appointed Maxime Dubarry as the new CFO, succeeding Gautier Bailly, who left for personal reasons.

Cnova N.V. reported robust growth for the year 2020, driven by its expanding marketplace. EBITDA surged by 63% to €133m, while EBIT multiplied by 3.6x to reach €53m. The company's marketplace GMV saw a 22% increase, notably accelerating in the second half of the year with 30% more orders. Marketplace revenues rose 23% to €182m, with a significant 40% growth in Q4. Positive cash generation was evident, marked by a €21m reduction in net financial debt.