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Share Name | Share Symbol | Market | Type |
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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.17 | -11.41% | 1.32 | 1.32 | 1.60 | 1.49 | 1.20 | 1.49 | 959 | 16:40:00 |
CNOVA N.V. First quarter 2022 activity
In a market impacted by a high comparison basis related to curfew, Cnova GMV is -9% vs 1Q21 and +1% compared to pre-pandemic period (i.e. 1Q19), with well oriented KPIs for its 3 strategic pillars:
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AMSTERDAM – April 19, 2022, 07:45 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced its first quarter 2022 activity.
1st quarter 2022 Highlights
During the 1st quarter 2022, the group continued to accelerate on its 3 strategic pillars, with increasing marketplace GMV (+22% vs. 2019, -10% vs. 2021) and digital marketing (x2 vs. 2019, +15% vs. 2021) as well as growing B2B initiatives with Octopia (17 contracts signed) and C-Logistics counting 37 clients.Marketplace GMV increased by +22% vs. 2019 (-10% vs. 2021). The number of sellers reached more than 13,200 with a record-high quality level narrowing the gap with the overall NPS supported by the development of Fulfilment by Cdiscount and Cdiscount Express seller. Marketplace revenues reached €45m, growing +28% vs. 2019 (-7% vs. 2021). On a LTM basis, marketplace revenues reached €192m.Digital marketing revenues reached €16m in the 1st quarter, growing x2 vs. 2019 (+15% vs. 2021), mainly driven by the development of sponsored products thanks to enhanced bidding algorithms powered by artificial intelligence. On a LTM basis, digital marketing revenues reached €71m.Customer loyalty has increased thanks to a record high customer satisfaction measured by the NPS (55.5, +11.4pts vs. 2019 and +4.4pts vs. 2021), with a focus on express delivery and enhanced customer experience on Cdiscount.com. Our loyal customer base increased, with Cdiscount à Volonté (CDAV) reaching 2.5 million members, growing +34% vs. 2019 (+8% vs. 2021).B2B activities are still accelerating. Octopia GMV reached €28m in the 1st quarter of 2022, (+5% vs. 2021) mainly thanks to the development of Fulfilment-as-a-Service, x6 parcels shipped in Q1 vs. 2019 and +9% vs. 2021, and Products-as-a-Service. Merchants- and Marketplace-as-a-Service offers are accelerating with 5 major contracts signed during the 1st quarter of 2022 and clients’ GMV backlog now exceeding €1bn on contracts duration. C-Logistics third party offers benefited from a strong commercial ramp-up with now 37 clients launched or signed, 15 additional customers vs. end 2021.
Total GMV increased by +1% vs. 2019 (-9% vs. 2021) with a strong growth in marketplace (+22% vs. 2019) and reduction in direct sales (-24% vs. 2019) in line with the mix improvement strategy.
Emmanuel Grenier, Cnova CEO, commented:
“In a sensitive and uncertain market, this 1st quarter confirmed our relevant positioning with the strong growth of our 3 strategic pillars compared to the pre-pandemic period while external factors influenced and continue to significantly impact all economic activities.In this challenging context, our ecommerce platform benefited from a continuously growing Cdiscount à Volonté customer base, giving advantage to the strong acceleration of our digital marketing solutions.On the B2B side, C-Logistics and Octopia continued their commercial dynamics, notably with contracts signed with major e-commerce players and retailers confirming our strategic route on this segment.”
First quarter 2022 Key figuresnova N.V.
First quarter (1) | vs. 2021 | vs. 2019 | ||
2022 | 2021 | |||
Key operational metrics | ||||
Traffic (million visits) | 261.2 | 296.3 | -11.9% | +2.3% |
Orders (2) (million) | 6.0 | 7.4 | -18.2% | -8.1% |
o/w Marketplace | 4.2 | 5.0 | -16.3% | +7.1% |
Items sold (million) | 10.1 | 12.6 | -19.3% | -16.9% |
o/w Marketplace | 6.2 | 7.4 | -15.8% | +1.5% |
Key financial figures (€m) | ||||
Total GMV | 915.7 | 1,006.3 | -9.0% | +1.1% |
Ecommerce platform o/w Direct sales | 887.4 | 979.3 | -9.4% | -1.8% |
372.8 | 454.8 | -18.0% | -24.4% | |
o/w Marketplace (3) | 341.5 | 380.5 | -10.2% | +21.8% |
o/w Services | 73.2 | 52.3 | +40.0% | x2.5 |
o/w Other revenues Octopia | 99.8 | 91.7 | +8.8% | -0.3% |
28.3 | 27.0 | +5.0% | n/m | |
Total Net Sales | 448.9 | 517.9 | -13.3% | -14.8% |
First quarter 2022 Highlights
GMV | First quarter (1) | |
vs. 2021 | vs. 2019 | |
Total growth | -9.0% | +1.1% |
Marketplace growth | -10.2% | +21.8% |
Octopia growth | +5.0% | n/m |
Total GMV posted a +1.1% increase vs. 2019 (-9.0% vs. 2O21). Compared to pre-pandemic period (1st quarter 2019), GMV was stable despite decreasing trend on direct sales due to a voluntary shift to the marketplace. GMV benefited from the high growth of Marketplace, B2C services and the launch of Octopia offers over this 3-year period.
Marketplace | 1Q22 | Change | |
vs. 2021 | vs. 2019 | ||
Marketplace product GMV share | 47.8% | +2.3 pts | +11.5 pts |
Marketplace Fulfilment GMV share | 38.8% | +4.4 pts | +14.2 pts |
Marketplace revenues | €45.2m | -7.1% | +28.4% |
Marketplace continued to be a driving force for Cnova, with GMV increasing by +21.8% vs. 2019 (-10.2% vs. 2021). GMV share increased by +11.5pts vs. 2019 (+2.3pts vs. 2021), benefiting from a growing share of GMV fulfilled by Cdiscount which increased by +14.2pts vs. 2019 (+4.4pts vs. 2021).
Net Sales | First quarter (1) | |
vs. 2021 | vs. 2019 | |
Total growth | -14.5% | -16.0% |
Net Sales amounted to €442.6m, a -16.0% decrease vs. 2019 (-14.5% vs. 2021). This decrease is explained by the decrease of direct sales by -24.4% vs. 2019 (-18.0% vs. 2021) mainly resulting from the acceleration of the profitable shift towards marketplace sales, which are only recognized for the associated commissions.
Business Highlights
Increasing Marketplace revenues and Marketplace GMV share
Expansion of marketplace SKUs eligible to express delivery is a key driver of growth, customer satisfaction and contributes to the development of our loyalty program, Cdiscount à Volonté (CDAV). It is also supporting the product mix improvement strategy towards more recurring and profitable categories. Fulfilment by Cdiscount and Cdiscount Express Seller kept on extending their offering to reach 2.9 million eligible SKUs (+94% vs. 2021).
Our loyalty program Cdiscount à Volonté (CDAV) customer base grew by +33.5% vs. 2019 (+7.6% vs 2021), reaching 2.5 million members. CDAV represented 44.0% of total GMV in the 1st quarter 2022. CDAV members show more purchase recurrence and loyalty than non-CDAV clients.
B2C Services showed solid performance
Enhanced customer experience and record high NPS
Dynamic digital marketing powered by Cdiscount Ads Retail Solution
Acceleration of Octopia, the turnkey tech-enabled marketplace solution
With already 37 clients signed or launched, C Chez Vous and C-Logistics are accelerating in the 1st quarter of 2022
Cnova pursues its CSR strategy to build a sustainable and inclusive European digital leader
Cnova is committed promoting a more sustainable way to consume.
Cnova supports local economies as well
Cnova brings its support to the community to answer societal issues:
Cnova’s HR policy is recognized
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About Cnova N.V.
Cnova N.V., the French ecommerce leader, serves 9.6 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 |
***
1 All figures are unaudited2 Total placed orders before cancellation due to fraud detection and/or customer non-payment3 Including CARS digital marketing4 https://www.greatplacetowork.fr/palmares/best-workplaces-france-2022/
Attachment
1 Year Cnova NV Chart |
1 Month Cnova NV Chart |
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