Cnova N.V. 2Q23 Activity Trading Update

CNOVA N.V.
Sales Trading Update

AMSTERDAM – July 12, 2023, 21:15 CEST Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova” or “the Company”), in the context of the conciliation procedure in which the Company’s controlling shareholder Casino, Guichard-Perrachon S.A. (“Casino”) is engaged,¹ today provides an update on its GMV and net sales achieved in the second quarter of 2023².

The Company’s GMV and Net sales, as achieved in the second quarter of 2023, amounted respectively to €668m and €289m, decreasing respectively by -14% and -22% on a like-for-like basis³ in a challenging market environment marked by a still decreasing trend in Home Equipment categories. In this context, marketplace GMV was resilient, decreasing by -2% reaching a record-high GMV share of 60% (+8pts vs. 22). All GMV KPIs are recovering progressively with the second quarter growth above first quarter as highlighted in the table below.

Financial performance (€m)	2Q22	2Q23	Like-for-Like growth
			2Q23	1Q23
Overall GMV	875.6	667.7	(13.2)%	(15.0)%
GMV Cdiscount.com (1P+3P)	632.9	530.5	(16.2)%	(18.7)%
o/w Direct GMV (1P)	306.5	212.2	(30.8)%	(32.5)%
o/w GMV marketplace (3P)	326.4	318.3	(2.5)%	(3.7)%
Marketplace share	51.6%	60.0%	+8.4pts	+8.9pts
Net sales	427.7	289.0	(21.9)%	(24.2)%
Underlying revenue drivers
Direct sales revenues	255.4	176.8	(30.8)%	(32.5)%
Marketplace revenues	44.5	45.5	+2.3%	+1.4%
Advertising services	17.8	18.0	+1.1%	+9.4%

This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.