From GlobeNewswire: 2024-07-26 11:59:00

Cnova N.V. reports improved financial performance in the first half of 2024, with EBITDA after rents increasing by €2m and free cash flows improving by €101m compared to the previous year. Despite challenges in core markets, product GMV showed a gradual improvement month over month.

The first half of 2024 saw overall GMV declining by 11% compared to the previous year, a significant improvement from the previous trend. Net sales decreased by 19% due to declining GMV and a shift towards Marketplace, which accounted for 65% of Product GMV in the first half of 2024.

Cnova continues to focus on its CSR strategy, with “More sustainable products” representing 22.7% of Product GMV in the second quarter of 2024. The company also saw a growth in NPS by 2.1 points in the first half of 2024, with Marketplace NPS increasing by 3.4 points compared to the previous year.

In the second quarter of 2024, Cnova’s overall GMV decreased by 9.2% compared to the previous year, with Direct sales and Marketplace being key drivers. The company also launched a new brand identity aimed at offering more choice, attractive prices, and sustainable products, with Marketplace GMV share increasing by 6.5 points.

Cnova’s Marketplace GMV declined by 1.8% in the second quarter of 2024, while the company saw positive KPIs including a growing Marketplace GMV share and an increase in Fulfilment by Cdiscount GMV share. The company also invested in generative Artificial Intelligence to enhance customer experience and support Marketplace sellers.



Read more at GlobeNewswire:: CNOVA NV 2024 Second Quarter Activity & First Half