Cnova NV — FY2020 Earnings Presentation
20 slides from Cnova NV's earnings presentation, Feb 18, 2021
Slide 1: Full Year 2020 Activity & Financial Performance
Cnova Full Year 2020 Activity & Financial Performance February 18", 2021
Slide 2: Forward-looking statements
This presentation contains forward-looking statements. Such forward-looking statements may generally be identified by, but not limited to, words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,”
Slide 3: Agenda
7 Full Year 2020 Business Highlights and Strategic Achievements Full Year 2020 Commercial & Financial Performance Outlook Cnova
Slide 4: Business Highlights and Strategic Achievements
Full Year 2020 Business Highl 's and Strategic Achiev Marketplace expansion dr' ed growth and strong profitability increase Significant Marketplace Record-high Expanding profitability increase acceleration customer satisfaction B2B platform Ae isl pe Financial results Marketplace Platform Digital EB
Slide 5: Business Highlights and Strategic Achievements
Full Year 2020 Business Highlights and Strategic Achievements Pr) Maratea expaaioneachingrecrstigh Pe) reduc ik evtalonto bos repurchases arate rs) Mipenedanioneraperanceassisacton | OR Pe) aunchotaturnaymariatpacsiion 6 ) Promoting Corporate Social Responsibility nova
Slide 6: Marketplace expansion reaching record-high
Marketplace expansion reaching record-high +22% marketplace growth leading to €182m revenues GMV > — GMV share ay revenue! In billion€ In% In million € 38.2% 2019 2020 2019 2020 2019 2020 a Total SKUs available Express delivery GMV share In million 32.2% 2019 2020 2019 2020 2019 2020 = in 4) 1. Incl
Slide 7: Product mix evolution to boost repurchase and marketplace
Product mix evolution to boost repurchase and marketplace Acceleration on DIY & Garden, Home & Deco, Sport and Beauty High-Tech and Appliances | = & Electrical IT Household goods hardware appliances Stable GMV -6 pts GMV share Average marketplace share c.40% Low contribution margin! -2 pts vs averag
Slide 8: Improved customer experience & satisfaction
Improved customer experience & satisfaction Enhanced customer experience and record-high NPS Faster delivery time 2.3m CDAV members driving repurchase Indays! 2019 2020 In million members a @W 2019 2020 “Say yes to the customer” policy Convert your loyalty points into vouchers of CDAV claims get an
Slide 9: Digital marketing acceleration
ital marketing acceleration Increasing product visibility to a targeted and relevant audience Premium ads on strategic visibility spots to promote products & brands revenues 2017 2018 2019 2020 = Suppliers ™ Marketplace sellers id increased profitability through a complete Ad Tech offeri Cnova
Slide 10: Powerful marketplace assets
Powerful marketplace assets Comprehensive & unique solution 1. Cdiscount's logistics incubator 10 years of expertise and investments A €1.5bn GMV marketplace recognized as a leading platform in Europe 13,000 qualitative merchants base of which 2,500 fulfilled by Cdiscount Access to Access to Product
Slide 11: Launch of a turnkey marketplace solution
Launch of a turnkey marketplace solution Set to become a major growth & profitability driver for Cdiscount Huge EMEA market potential Aclear path of profitable growth ahead = More than 200 live distribution channels "Delivering 27 countries cpo Avery DON feuiciiee = Dynamic start of external fulfilm
Slide 12: Promoting Corporate Social Responsibility
Promoting Corporate Social Responsability Being a responsible, inclusive and open e-commerce platform Supporting SMEs during COVID Limiting our environmental impact Promoting solidarity and inclusion Opening our platform to all retailers impacted by COVID lockdowns, with 6-month free 3,000 SMEs appl
Slide 13: Agenda
Agenda Full Year 2020 Business Highlights and Strategic Achievements 7 Full Year 2020 Commercial & Financial Performance Outlook Cnova
Slide 14: GMV underlying growth drivers
Full Year 2020 Commercial & Financial Performance GMV underlying growth drivers Solid organic growth driven by an accelerating marketplace M@Direct sales MM Marketplace Services Ml Others MM Organic growth +10.6pts stipt “10.2% “Oept épt ! +2.2pts +8.6% -0.6p' : | om i i +7.0pts jy iz -1.0pt 4Q20 :
Slide 15: ▪ ,5 • ,5 ,5 ,5 ,5 • ,5 ,5 ,5 • 101 ,5
▪ 501 ,5 • 451 ,5 401 ,5 351 ,5 301 ,5 • 251 ,5 201 ,5 151 ,5 • 101 ,5 51, 5 1,5
Slide 16: Fulfillment, Marketing, Tech and Content costs
▪ • • • 2019 2020 • Fullfillment Marketing Tech and Content G&A
Slide 17: EBITDA & EBIT
Full Year 2020 Comme: EBITDA & EBIT ial & Financial Performance EBITDA! & EBIT (€ millions) " EBITDA +€51m increase to reach €133m * 6.0% of net sales (+2.3 pts) EBITDA EBIT * Outstanding marketplace growth 1333 . a * Direct sales margin improvements ° Increased monetization revenues = Before IFRS16
Slide 18: Free Cash Flow
Full Year 2020 Commercial & Financial Performance Free Cash flow LTM Free Cash Flow (€ millions, twelve month. Other cash Repayment & Change in FCF before Financial FCF from Reduction in EBITDA operating interestson Working Capital Net CAPEX financial expenses excl. continuil Other net financial exp
Slide 19: Agenda
Agenda Full Year 2020 Business Highlights and Strategic Achievements Full Year 2020 Commercial & Financial Performance Cnova
Slide 20: 2021 outlook: accelerate investments toward open platform model
In 2021, Cnova plans to accelerate its investments in order to continue its strategic evolution towards an open platform model leading to: Sustained growth, Enhanced profitability and Cash generation, with 4 clear pillars