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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cnova NV | EU:CNV | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.10 | 7.14% | 1.50 | 1.32 | 1.50 | 1.50 | 1.395 | 1.395 | 68 | 16:40:00 |
CNOVA N.V.First Quarter 2021 Activity
Marketplace and digital marketing expansion driving growth and profitability
High +34% growth of the marketplace reaching 46% of GMV (+7pts) Acceleration of marketplace revenues: +43% in Q1 at €197m on a LTM basis Strong expansion of digital marketing revenues (+43%) Acceleration of Octopia: +86% GMV |
AMSTERDAM – May 6, 2021, 07:45 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced its first quarter 2021 activity.
1st quarter 2021 Highlights
During the 1st quarter 2021, Cnova has strengthened its economic model.
The marketplace, now representing 46% of total GMV (+7pts), was at the heart of Cnova profitable growth, with +34% in the 1st quarter 2021 vs. last year. Marketplace revenues reached €197m over the LTM, growing +38% vs. the previous LTM period, and accelerating in the first quarter with a +43% increase, driven by the growth of digital marketing revenues from sellers.
Digital marketing revenues have increased by +43% driven by the development of our in-house marketing digital platform Cdiscount Advertising.
Octopia, Cnova turnkey marketplace solution for EMEA retailers and e-merchants, grew by +86% and is now connected to 518 websites in Europe. Octopia signed a major EMEA client, a local retail leader with over €1bn revenues, and launched its first marketplace for Géant in April 2021.
GMV (Gross Merchandise Volume) increased by +12% to reach €1,006m. As of March 31, 2021, Cdiscount website served more than 10.5m active customers over the last twelve months (LTM) at the end of the 1st quarter (+15%). Growth has been dynamic in higher margin categories towards Home, DIY & Leisure (+29% in the 1st quarter).
Emmanuel Grenier, Cnova CEO, commented:
“The 1st quarter of 2021 confirmed the good dynamic recorded in 2020 and its relevant positioning, with strong GMV growth and improved profitability in a fast-evolving environment in Europe marked by strong and sustainable underlying trends: more digitalized sales and more home delivery.The solid performance of our B2C activity is driven by a strong marketplace development and accelerated growth of Home, DIY and Leisure categories. We have offered enhanced customer experience through a best-in-class delivery service and a politic of “yes to the customer”, driving to a record high NPS(1).Our B2B activity is developing very well thanks to the dynamic of digital marketing and Octopia. More and more sellers and suppliers are leveraging on our digital marketing platform to accelerate their sales. The ramp up of Octopia, our turnkey marketplace solution, is accelerating with more than 500 websites connected throughout Europe and a first major client launched with our full solution.”
First Quarter 2021 Key Figures
Cnova N.V. | First quarter (2) | Change | |
2021 | 2020 | ||
Key operational metrics | |||
Traffic (millions visits) | 294.0 | 247.2 | +18.9 % |
Orders (3) (millions) | 7.4 | 6.3 | +16.9 % |
o/w Marketplace | 5.0 | 3.9 | +30.3 % |
Items solde (millions) | 12.6 | 11.5 | +9.7 % |
o/w Marketplace | 7.4 | 5.9 | +25.0 % |
Key financial figures | |||
Total GMV (€m) | 1,006.3 | 899.8 | +11.8 % |
Organic GMV (€m) (4) | 997.0 | 882.2 | +13.0 % |
o/w Direct sales | 454.8 | 454.8 | +0.0 % |
o/w Marketplace | 380.5 | 283.4 | +34.3 % |
Marketplace GMV share | 45.6% | 38.4% | +7.2 pts |
Total Net Sales (€m) | 517.9 | 493.1 | +5.0 % |
o/wo Marketplace revenues | 48.7 | 34.1 | +42.9 % |
First Quarter 2021 Highlights
GMV | 1Q21 |
Total Organic Growth | +13.0% |
Marketplace Growth | +34.3% |
Octopia Growth | +86.3% |
Organic GMV posted a strong +13.0% increase in the 1st quarter 2021.
GMV growth was driven by:
Marketplace | 1Q21 |
Marketplace total GMV share | 45.6% |
Marketplace GMV share evolution | +7.2 pts |
Fulfilment marketplace GMV share | +3.5 pts |
Marketplace revenues growth | +42.9% |
Marketplace was the driving force of GMV in the 1st quarter 2021, with a +34.3% GMV growth vs. N-1.
It led to an increased marketplace GMV share, reaching 45.6% in the 1st quarter 2021 (+7.2 pts). The Marketplace benefited from the strong growth of Fulfilment by Cdiscount (+42.5% vs. N-1) whose marketplace GMV share grew by +3.5 points.
Net sales | 1Q21 |
Organic growth | +6.7% |
Net sales amounted to 517.9 million euros, i.e. a +5.0% increase vs 1st quarter 2020. The increase is mainly explained by a +42.9% growth of Marketplace revenues and +44.7% of revenue for Cdiscount Pro.
Traffic | 1Q21 |
Traffic growth5 | +18.9% |
Regarding traffic, Cdiscount ranks #2 in France on average over the quarter with 22m Unique Monthly Visitors. It represents a total of almost 300 million visits during the 1st quarter 2021 (+18.9%).
Business Highlights
Marketplace of products growing double-digit, driving up revenues and profitability
Product mix evolution towards recurring product categories building strong loyalty as well as increased profitability
B2C services showed solid performance despite Covid-19 negative impact on Travel
Enhanced customer experience and record high NPS
Dynamic digital marketing powered by Cdiscount Ads Retail Solution
Acceleration of Octopia, the turnkey marketplace solution for EMEA retailers and e-merchants
C Chez Vous and C-Logistics commercial acceleration, aiming to become leading transportation & logistics service providers in Europe
Acceleration of 2nd-hand offer to help Cnova’s clients consume more sustainably
Cnova reduces its carbon footprint in logistics
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About Cnova N.V.
Cnova N.V., the French ecommerce leader, serves 10.5 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.’s product offering provides its clients with a wide variety of very competitively priced goods, fast and customer-convenient delivery options, practical and innovative payment solutions as well as travel, entertainment and domestic energy services. Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.'s news releases are available at www.cnova.com. Information available on, or accessible through, the sites referenced above is not part of this press release.
This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.
Cnova Investor Relations Contact:investor@cnovagroup.com | Media contact:directiondelacommunication@cdiscount.comTel: +33 6 18 33 17 86 |
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1 Net Promoter Score2 All figures are unaudited3 Total placed orders before cancellation due to fraud detection and/or customer non-payment4 GMV (gross merchandise volume) is defined as: product sales (all taxes included) + other revenue + marketplace business volumes (calculated based on approved and sent orders) + GMV services5 According to the latest Médiamétrie studies
Attachment
1 Year Cnova NV Chart |
1 Month Cnova NV Chart |
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