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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.055 | -3.67% | 1.445 | 1.40 | 1.45 | 1.45 | 1.40 | 1.45 | 579 | 02:01:04 |
CNOVA N.V.
First Quarter 2019 Activity
AMSTERDAM - April 12, 2019, 07:45 CEST - Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) ("Cnova") today announced unaudited operating data for the quarter ended March 31, 2019.
Emmanuel Grenier, Cnova CEO, commented:
"Beginning of the year continued along the same dynamic and supported by the trends observed in Q4 which again shows the relevance of our 2018 strategic initiatives: a booming marketplace, very strong performance of B2C services platform especially travel, development of international sales and roll-out of showrooms.
This first quarter also marked a significant acceleration in innovation across all our business lines with the launch of "Le Lab" marketing incubator, the success of Agrikolis partnership among the 2nd round selection of The Warehouse and Nomagic.AI self-learning arm which is now fully operational. Throughout the rest of 2019, we intend to push our artificial intelligence technological edge with a focus on customer experience enhancement and operational performance improvement."
1st Quarter 2019 Highlights
Organic GMV (gross merchandise volume) posted an increase of +9.2% in the 1st quarter 2019 versus the same period in 2018. GMV growth was notably driven by the marketplace (+3.7 pts contribution to organic growth), B2C services such as travel and energy (+2.9 pts contribution) and Géant showrooms (+2.9 pts contribution). The 1st quarter also benefited from successful winter sales and the 3 "Cdiscount Days" weeks in March with more than 700 attractive deals. Among B2C services, the popularity of travel services exceeded expectations with a GMV that nearly tripled over the 1st quarter 2019 compared to the previous quarter.
The marketplace acceleration remains a key priority for 2019 to achieve Cdiscount's profitable growth objectives. Marketplace GMV share reached 35.8% in the 1st quarter 2019, an increase of +3.2 points. The GMV fulfilled by Cdiscount again experienced a very high +46% growth and gained +5.2 points in marketplace GMV.
Net sales amounted to €527 million in the 1st quarter 2019, a +4.4% organic growth compared to the same period in 2018. The profitable marketplace strategic expansion, which displaces a certain amount of direct sales revenue (essentially only marketplace commission fees are included in total revenue) and the structural decrease in Géant non-food sales[4] have been more than compensated by the successful introduction of new revenue streams coming from showrooms and more diversified monetization initiatives.
Traffic at Cdiscount totaled 255 million visits in the 1st quarter 2019, representing the increasing use of mobile, where traffic grew by +15% y-o-y, representing 68% share of total traffic (+5.7 points) and 45.5% of the GMV (+5.0 points). Since the beginning of 2019, Cdiscount consolidated its #2 status in terms of unique monthly visitors ("UMV") on both desktop and mobile platforms, supported by the highest market growth at +11% y-o-y overall and +28% on mobile. The gap over the #3[5] increased up to 2 million UMV. In addition, the Cdiscount app downloads increased by +18% y-o-y.
Cdiscount's loyalty program, Cdiscount à Volonté ("CDAV") grew its subscriber base by +16% and reached 34.8% of the GMV.
As part of its marketing strategy and best-in-class client experience, Cdiscount is always strengthening its bond with customers. On the main social media, in addition to its extensive 2.9 million fan base (+27% y-o-y), Cdiscount continues to work on developing its specialized communities, with thematic pages successfully developed around Gaming (210k fans, x2 y-o-y), Home & Decoration (600k fans) and more recently, Travel (already more than 80k fans).
Key Business Highlights
Development of the marketplace and its associated services
Ramp-up of the B2C services platform
Enhanced customer experience and multichannel strategy
Monetization initiatives well advanced
Rapid expansion of Europe-wide deliveries now covering 20 countries
Innovation in constant progress across all fields
First Quarter Activity
Cnova N.V. | First Quarter(1) | Change | ||
2019 | 2018 | Reported(1)(2) | Organic(3) | |
GMV(4) (€ millions) | 906.3 | 853.9 | +6.1% | +9.2% |
Marketplace share(5) | 35.8% | 32.6% | +319 bp | |
Mobile share | 45.5% | 40.6% | + 495 bp | |
CDAV share | 34.8% | 33.7% | +109 bp | |
Net sales(5) (€ millions) | 527.0 | 524.2 | +0.5% | +4.4% |
Traffic (visits in millions) | 255.3 | 242.7 | +5.2% | |
Mobile share | 68.4% | 62.7% | +574 bp | |
Active customers(6) (millions) | 9.1 | 8.6 | +5.2% | |
Orders(7) (millions) | 6.5 | 6.5 | +0.1% | |
CDAV share | 35.9% | 33.6% | +226 bp | |
Number of items sold (millions) | 12.2 | 12.2 | +0.0% |
***
About Cnova N.V.
Cnova N.V., one of the leading e-Commerce companies in France, serves 9.1 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 Tel: +31 20 301 22 40 | Media contact: directiondelacommunication@cdiscount.com Tel: +33 5 56 30 07 14 |
[1] Organic growth: figures include showroom sales and services; exclude technical goods and home category sales made in Casino Group's hypermarkets and supermarkets (total exclusion impact of +4.4 pt on GMV growth) and 1001Pneus/Stootie GMV, companies acquired in 4Q18, (total exclusion impact of -1.3pt on GMV growth)
[2] Unique Monthly Visitors, source Médiamétrie in January 2019
[3] Marketplace GMV shares have been adjusted to take into account coupons and warranties and exclude CDAV subscription fee. 1Q18 GMV share has therefore been adjusted by +0.1pt for comparison purposes
[4] From June 2017, Cdiscount has been managing the Hi-tech and Home Furnishing product categories of Géant hypermarkets and Casino integrated supermarket as part of their multichannel strategy
[5] January Médiamétrie study.
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