Cnova N.V. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the year, the company reported net sales of €2,898,912,000 against €3,473,821,000 a year ago. Operating profit before restructuring, litigation, initial public offering expenses, gain from disposal of non-current assets and impairment of assets was €33,296,000 against €23,505,000 a year ago. Operating profit was €1,536,000 against €17,266,000a year ago. Loss before tax was €66,411,000 against €38,382,000 a year ago. Loss for the period was €54,426,000 against €23,006,000 a year ago. Net loss attributable to the company was €51,791,000 against €22,490,000 a year ago. Net cash from operating activities was €284,999,000 against €175,740,000 a year ago. Purchase of property and equipment and intangible assets was €76,641,000 against €54,083,000 a year ago. Adjusted EBITDA was €65,012,000 against €50,759,000 a year ago. Adjusted LPS was €0.06 against €0.06 a year ago.

For the quarter, the company reported net sales of €1,098,596,000 against €917,680,000 a year ago. Operating profit before restructuring, litigation, initial public offering expenses, gain from disposal of non-current assets and impairment of assets was €32,303,000 against €26,222,000 a year ago. Operating profit was €15,396,000 against €21,038,000 a year ago. Profit before tax was €3,019,000 against loss before tax was €4,046,000 a year ago. Profit for the period was €787,000 against €13,398,000 a year ago. Net profit attributable to the company was €1,894,000 against €13,282,000 a year ago. Adjusted EBITDA was €41,976,000 against €35,128,000 a year ago. Adjusted EPS was €0.03 against €0.03 a year ago.

The company expects net sales in the first quarter of 2015 to grow 17.0%, within a plus or minus 200bps deviation, compared with the first quarter of 2014.