Cnova N.V. reported unaudited sales results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported gross merchandise volume amounted to €943 million (+11.3% like-for-like compared to the same period in 2015). Net sales totaled €584 million (+7.8% like-for-like).

For the full year, the company reported gross merchandise volume amounted to €3.0 billion, an increase of 13.6% versus 2015 on a like-for-like basis. On a reported basis, GMV rose 10.5% compared to 2015. Net sales totaled €1.9 billion in 2016, up 10.7% on a like-for-like basis compared to 2015 (+6.8% on a reported basis). Home furnishings and household appliances accounted for 45% of direct sales in France, while hi tech goods (AV and smartphones) and IT goods represented 36% of direct sales. Marketplace commissions increased by +38% year-on-year. Traffic grew by 10.8% to 842 million visits in 2016.

The company confirms its early 2016 forecast that full year 2016 EBIT at Cdiscount should be slightly positive. The company expects a net cash position close to €180 million at December 31, 2016.