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COMPANHIA BRASILEIRA DE DISTRIBUIÇAO NETHERLANDS HOLDING B.V.

(PCAR3)
  Report
Delayed Bolsa de Valores de Sao Paulo  -  04:07:42 2023-02-03 pm EST
18.91 BRL   -3.62%
01/24Companhia Brasileira De Distribuiçao Netherlands B : DISTRIBUIÇÃO - Form 6-K
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01/24Companhia Brasileira De Distribuiçao Netherlands B : EXTRACT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS HELD ON JANUARY 23, 2023 - Form 6-K
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01/13Companhia Brasileira De Distribuiçao Netherlands B : DISTRIBUIÇÃO - Form 6-K
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Casino's Ecommerce arm Cnova defers capital increase and drops earlier guidance

10/08/2021 | 02:12am EST

PARIS, Oct 8 (Reuters) - Cnova NV, the E-commerce arm of French retailer Casino, said it had decided to defer an earlier fund-raising plan, and could no longer confirm financial guidance given in June due to challenging third quarter business conditions.

In June, Cnova had unveiled plans to raise around 300 million euros ($346.50 million) by the end of the year in a sale of new shares, to fund growth and boost its proportion of freely tradeable stock.

"In a timid 3rd quarter market, we confirmed our relevant positioning with a strong ecommerce platform benefiting from a growing loyal customer base and the acceleration of our digital marketing solutions," said Cnova CEO Emmanuel Grenier.

"In this soft market, we have launched several actions to maintain our growth dynamics. In light of this situation, Cnova is no longer in position to confirm its guidance released in June," added Grenier.

In June, Cnova said it was targeting an EBITDA of 160 million euros for 2021, a rise of 20% from 2020.

Cnova's Cdiscount website competes with international groups such as Amazon in France>, with a marketplaces-style platform that links shoppers with third-party vendors selling household goods, electronic equipment and toys.

During the third quarter Cnova posted a 7.5% rise in Gross Merchandise Volume (GMV) in a soft market, which it partly blamed on the re-opening of brick-and-mortar stores as COVID restrictions eased. This notably forced it to boost its pricing competitiveness.

Cdiscount is fully controlled by Cnova, which in turn is 65% controlled by Casino and 34% by Casino's Brazilian business Grupo Pao Acucar.

Parent company Casino, run and controlled by Jean-Charles Naouri, has been looking to boost its profitability and cash flow with asset sales, as well as finding savings through purchasing deals.

Naouri has been looking to ease the debts of both Casino and Rallye, the holding company behind the retailer.

($1 = 0.8658 euros) (Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -8.43% 103.39 Delayed Quote.34.42%
CASINO, GUICHARD-PERRACHON SA 3.61% 12.04 Real-time Quote.23.36%
CNOVA N.V. 0.00% 3.1 Real-time Quote.0.32%
COMPANHIA BRASILEIRA DE DISTRIBUIÇAO NETHERLANDS HOLDING B.V. -3.62% 18.91 Delayed Quote.14.71%
RALLYE 3.41% 3.03 Real-time Quote.13.06%
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Analyst Recommendations on COMPANHIA BRASILEIRA DE DISTRIBUIÇAO NETHERLANDS HOLDING B.V.
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Financials
Sales 2022 42 657 M 8 323 M 8 323 M
Net income 2022 1 214 M 237 M 237 M
Net Debt 2022 7 159 M 1 397 M 1 397 M
P/E ratio 2022 4,50x
Yield 2022 4,95%
Capitalization 5 105 M 996 M 996 M
EV / Sales 2022 0,29x
EV / Sales 2023 0,26x
Nbr of Employees 110 000
Free-Float 58,5%
Chart COMPANHIA BRASILEIRA DE DISTRIBUIÇAO NETHERLANDS HOLDING B.V.
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Technical analysis trends COMPANHIA BRASILEIRA DE DISTRIBUIÇAO NETHERLANDS HOLDING B.V.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 18,91 BRL
Average target price 28,80 BRL
Spread / Average Target 52,3%
EPS Revisions
Managers and Directors
Marcelo Pimentel Mello Chief Executive Officer
Guillaume Marie Didier Gras Chief Financial Officer
Jean-Charles Henri Naouri Chairman
Luiz Henrique Rodrigues Costa Chief Operating Officer
Eleazar de Carvalho Filho Independent Director