Cnova N.V. Reports Unaudited Sales Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2016
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.