Cnova NV — H1 2021 Earnings Presentation
25 slides from Cnova NV's earnings presentation, Jul 27, 2021
Slide 1: Activity & Financial Performance, First half 2021
nova Activity & Financial Performance First half 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: Business Highlights & Strategic Achievements
BUSINESS HIGHLIGHTS & STRATEGIC ACHIEVEMENTS discount
Slide 4: 1H21 Business Highlights and Strategic Achievements
1H21 Business Highlights and Strategic Achievements 1H21 Main Highlights Marketplace, Digital Marketing and Octopia dynamics drove a robust 2021 first half performance larketplace Double-digit Marketplace growth *, Cdiscount Advertising Digital Marketing continued expansion rd Marketplace GMV +10% v
Slide 5: 1H21 and current trading on a dynamic trend
1H21 Business Highlights and Strategic Achievements 15t half 2021 and current trading on a dynamic trend Solid GMV growth over 1H21 vs. 2019 (+13.5%) and 2020 (+2.3%) Growing average Unique Monthly Visitors thanks to dynamic traffic! Last 4 weeks GMV growth € million € million € million (ER) 17.8% 1
Slide 6: Ecommerce Platform Solid Performance
ECOMMERCE PLATFORM SOLID PERFORMANCE discount
Slide 7: Ecommerce platform - Strong B2C performance
Ecommerce platform - Strong B2C performance Marketplace at the heart of Cnova profitable growth strateg Marketplace GMV Marketplace GMV share LTM Marketplace revenue In million € In million € a 747 —_= 38.3% 562 1H19 1H20 1H21 1H19 1H20 1H21 June 19 June 20 June 21 Iment by Cdiscount Bo 34.7% 26.7%
Slide 8: Ecommerce platform - Strong B2C performance
Ecommerce platform - Strong B2C performance Home & DIY supporting ecommerce platform GMV growth bringing higher margin and commissio! NON-TECHNICAL GOODS (+7% in 1H21) wi fast ------- discount. maison » Home, DIY, Leisure, Food & Beauty » Higher marketplace share (62% in 1H21, +4.4pts y.o.y.) » High
Slide 9: Ecommerce platform - Enhanced customer experience
Ecommerce platform - Enhanced customer experience Optimization of user experience & conversion rate through personalization and data enhancing the customer journey Robots filtering more than 100m SKUs on the More personalization spaces and more relevant search engine products a 25% 85/88 <a New algo
Slide 10: Ecommerce platform - Enhanced customer experience
Ecommerce platform - Enhanced customer experience Best delivery & after sales services to reach record-high NPS SKU’s eligible to express delivery 2.3m CDAV members driving repurchase In million € In million members June 19 June 20 June 21 1H20 TH21 Enhancing CDAV program Fast improving overall NPS:
Slide 11: Digital Marketing Acceleration
DIGITAL MARKETING ACCELERATION discount
Slide 12: Digital marketing revenue growth
▪ 28.9 x2.1 20.1 +91% 28.9 +16% ➔ ➔ 1H20 1H21 Google Shopping ➔ Sponsored products ➔ On-site displays, marketing bundle offers, etc.
Slide 13: B2B Rampup Acceleration
B2B RAMPUP ACCELERATION discount
Slide 14: B2B rampup
B2B rampup C-Logi become a lead integrated e-commerce supply Turnkey transport sol for large parcels miliboo: = 13 newclients signed R. 2" J = 6 agreements in principle * Record-high customer review of 4.8/5 for BUT & Miliboo =e Full service of supply e-commerce operations = 1client signed, for whic
Slide 15: Octopia: Tech, Logistics, Products, Operations
Tech Logistics ✓ Products Operations ✓ ✓
Slide 16: B2B rampup - Octopia dynamic ramp-up
B2B rampup Octopia - A dynamic ramp-up wi' Products-as-a- Service Merchants- as-a-Service Marketplace- as-a-Service a commercial acceleration for Merchants- and Marketplace-as-a-Service offer Value proposal Go-to-market Trading update Commercial ramp-up & improvements Add products to hi ; . THIGMy.
Slide 17: Corporate Social Responsibility (CSR) & Innovation
CORPORATE SOCIAL RESPONSIBILITY (CSR) & INNOVATION discount
Slide 18: Corporate Social Responsibility (CSR)
Corporate Social Respon Logistics innovation and soci ity (CSR) tives are turned toward responsi ity and third-party experience improvem 9 Arp P Social responsibility all along the Innovation all along the logistics value chain 4 customer and employee journeys @ Packages designed to be reused 100 ti
Slide 19: Half-Year 2021 Financial Performance
HALF-YEAR 2021 FINANCIAL PERFORMANCE discount
Slide 20: Half-year 2021 Commercial & Financial Performance
Half-year 2020 Commercial & Financial Performance 2-year GMV underlying growth drivers marketplace Contribution to GMV growth (in points) 2.2 pts +13.5% -0.0 pts +7% CAGR -2.5 pts | Direct sales Ml Marketplace Services Ml Others ™ Octopia lM GMVGrowth = Marketplace as the main growth lever: around l
Slide 21: Half-year 2021 Financial performance: Gross margin
Half-year 2021 Financial performance Gross margin Gross margin (% of net sales, € millions, y-o-y growth) = A significant +3.0 pts, acceleration in gross margin (+5.7pts over 2 years) as well as strong double-digit growth in gross profit thanks to: * Astrong Marketplace GMV share increase associated
Slide 22: Half-year 2021 Financial performance: SG&A
Half-year 2021 nancial performance SG&A (% of net sales) 18.7% 19.2% — 23% 3.9% 5.1% 8.2% qH19' 1H20' 1H21 G&A #T&C = Marketing @ Fulfilment 1. Re-presented to consider Haltae (Stootie operations legal entity) financials reclassified in discontinued activities = SG&A accounted for 22.6% of Net sales
Slide 23: Half-year 2021 Financial performance: EBITDA & EBIT
Half-year 2021 Financial performance EBITDA & EBIT EBITDA! & EBIT (€ millions) = EBITDA experienced a robust performance EBITDA EBIT and reached €49m ° 49% of Net sales (+0.2 pt) ° +148.4% growth compared to 2019 * Outstanding marketplace growth * Direct sales margin improvements 10.9 . . | 65 * Inc
Slide 24: Free Cash Flow over the last twelve months
Half-year 2021 Financial performance Free Cash Flow over the last twelve months period LTM Free Cash Flow (€ millions, twelve months) (9) 6) One-off negative impact from Marketplace restricted cash of €50m") {22} Free cash flow before financial expenses: €(6)m | — | | (42) 6) (52) + Change in Other
Slide 25: Other financial liabilities and loans
Other financial liabilities Account agreement with Casino State guaranteed loan State guaranteed loan Cash pooling agreement Term loan with Casino ▪ ▪ ▪ ▪