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Nasdaq:CNV

CNOVA N.V. Third Quarter 2022 Activity

GlobeNewswire

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#CNOVA #N.V #Quarter #Activity

                                                
CNOVA N.V.
Third Quarter 2022 activity & update

Cnova posted a -15% like-for-like GMV decrease in Q3 vs. 2021 with a resilient marketplace at -3 % in a persistent context of macro-economic uncertainties and disruptions:

  • Marketplace GMV: -3% vs. 3Q21 (+7% vs. 3Q19)
  • Marketplace GMV share: 52% on average in 3Q22 (+9pts vs. 3Q21, +12pts vs. 3Q19)
  • Marketplace supported by an increase in express delivery share up to 52% (+7 pts vs. 3Q21)

 

Long-term growth strategic pillars well-oriented:

  • Marketplace revenues: €45m in 3Q22 stable vs. 2021 (+26% vs. 3Q19)
  • Advertising services: €17m in 3Q22, 2.6% GMV take rate (+0.5pt vs. 3Q21, +1.4pt vs. 3Q19)
  • B2B expansion: 25 clients signed for Octopia’s marketplace solutions at end 3Q22

 

Efficiency plan to recalibrate SG&A and CAPEX by 2023 is on track confirming year-end target of +€30m

 

Cnova reinforces its industrial partnership with Group La Poste/GeoPost:

  • Acquisition by GeoPost of a 95% majority stake in CChezVous, subsidiary dedicated to the transportation of bulky products, for €64m1
  • Extend collaboration to deliver small parcels throughout Europe

 

Cnova’s ESG performance outlined concretely by:

  • 12% of Cdiscount’s Product GMV were made on “more sustainable” products
  • C-Logistics continues implementing solutions to reduce the environmental impact of its logistics
  • Cdiscount was again awarded for its Gender Parity policy

AMSTERDAM – October 20, 2022, 07:45 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced its third quarter 2022 activity.

During the 3rd quarter of 2022, in a context still marked by uncertain macro-economic conditions and inflation headwinds, Cnova’s overall GMV decreased by –15% on a like-for-like basis, compared to a high comparison base in 2021, with a strong mix improvement towards marketplace driving advertising services revenues expansion.

Marketplace GMV decreased by –3% in…

Read on GNW: CNOVA N.V. Third Quarter 2022 Activity

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