Cnova N : PR – FRH Cnova

Cnova pursues its path towards a more profitable model
with an EBITDA after rents growing by +36% and free cash-flows improving by +€49m vs. 1Q23
• Like-for-like Overall GMV decreasing by -12% vs. 23, slightly improving compared to 4Q23,
despite some unfavorable comparison base effect from 2023 destocking campaigns and in a still
challenging market for Home & Technical Goods
• Like-for-like Net sales decreasing by -21% vs. 23 as a result of GMV decrease and the continuous
strategic shift to the marketplace now totaling 63.8% of the Product GMV (+7.1pts vs. 23)
• Services revenues amounting to €77m increasing by +4% vs. 23, representing 31.7% of overall
net sales, growing by +7.5pts vs. 231, supported by resilient Marketplace and Advertising
revenues along with fast-increasing B2B revenues by +90% vs. 23, driven by Octopia B2B
solutions and C-Logistics third-party services
• SG&A2 positively impacted by the Efficiency Plan full-year effects, improving by +€13m vs. 23
• EBITDA after rents increasing by +€2m in the 1st quarter 2024 vs. 23, growing by +36%, thanks
to Cnova's turnaround towards a more profitable model
• Free-cash flows before financial interests improving by +€49m in the 1st quarter 2024 vs. 23
• Continuous development of Cnova's CSR strategy
o Growth of"More sustainable products" share: 20% of Cdiscount Product GMV (+4.6pts vs. 23)
o Reduction of delivery GHG emissions by 35%3
• Strong NPS growing by +1.2pt vs. 23, with Marketplace NPS increasing by +2.5pts vs. 23