Cnova NV — FY2021 Earnings Presentation
22 slides from Cnova NV's earnings presentation, Feb 17, 2022
Slide 1: Activity & Financial Performance Full year 2021
nova Activity & Financial Performance Full year 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 & Key Figures
BUSINESS HIGHLIGHTS & KEY FIGURES discount
Slide 4: Highlights and key figures
ey figures ights a ng performance after an exceptional 2020 driven by marketplace & Resilient B2C in a challenging context Expanding B2B platform Dynamic top brands in Direct Sales = Strong Octopia commercial acceleration Solid Marketplace performance * 12 contracts signed with major clients Custome
Slide 5: Strong Ecommerce Platform
STRONG ECOMMERCE PLATFORM discount
Slide 6: Solid Marketplace performance
ig ecommerce platform Solid Marketplace performance mainly driven b' arp increase in express delivery share Marketplace GMV In million € 1,518 2019 2020 2021 In thousand [— no wa 2019 2020 2021 i) Marketplace GMV share Marketplace revenue In% In million € 7 | a! | u 45.2 192.8 149.8 2019 2020 2021 2
Slide 7: Enhanced customer experience
Strong ecommerce platform Enhanced customer experience: faster delivery & after-sales services driving record-high NPS eligible to express delivery 2.5m CDAV mem In million _— In million S124 28 2.5 ha] * End 2019 End 2020 End 2021 2019 2020 2021 Enhancing after sales for CDAV & New clients Fast imp
Slide 8: ❑ 69.2 ❑ 52.4 ▪ 39.7 ▪ ❑ 2019 2020 2021 2019 2020 2021
❑ 69.2 ❑ 52.4 ▪ 39.7 ▪ ❑ 2019 2020 2021 2019 2020 2021
Slide 9: B2B Diversification
B2B DIVERSIFICATION discount
Slide 10: B2B diversification: Octopia
B2B diversification Octopia accelerated with 12 clients signed since its launch 4 mature and competitive offers covering all e-merchants needs to grow or build their marketplace occtopia > Access to Octopia IT platform > Access to Octopia merchants > Access to Cdiscount Fulfilment solutions > Access
Slide 11: C-Logistics & C Chez Vous
B2B diversific: C-Logistics & C Chez Vous to become leaders in e-commerce supply chain Turnkey transport solution for large parcels C-Logistics Full service of supply e-commerce operations Q 22 clients live uf ito QO 1 letters of intent QO Record-high customer review (4.8/5) a Q 2clients live Q 2let
Slide 12: ESG
ESG discount
Slide 13: ESG
ESG Cnova promotes i tives towards environmental, social and governance respons | Reducing the impact of logistics Q Transportation = Commitment to an additional reduction of 7% of Cdiscount.com GHG emissions by 2023 = Deliveries and returns already carbon neutral on Cdiscount.com Q Reducing packagi
Slide 14: Full-Year 2021 Financial Performance
FULL-YEAR 2021 FINANCIAL PERFORMANCE discount
Slide 15: GMV growth with marketplace as main driver
Full-year 2021 Financial performance +8% GMV growth over 2 years with marketplace as the main driver Contribution to GMV growth (in points) +7.0 pts -3.9 pts +2.8 pts -0.0 pt +2.0 pts Direct B2c j. Marketplace sales Services Others Octopia GMV growth +0.1 pt -2.2 pts +2.0 pts -0.4 pt Direct B2c Mark
Slide 16: Gross margin improvement
Gross margi Full-year 2021 Financial performance improvement year after year driven by marketplace and digital marketing Gross margin (% of Net sales) 17.7% +4,5pts over 2y. 21.3% U 22.2% 2019 2020 2021 = A +0.9 pt acceleration in gross margin vs. 2020 (+4.5 pts over 2 years) : Vv Thanks to a strong
Slide 17: SG&A excluding D&A
SG&A excluding D&A (% of Net sales) Full-year 2021 Financial performance SG&A under control (+3.1pts vs. +4.5pts growth in gross margin) despite extra costs supporting 6.2% 2019 G&A BT&C 2020 49% 6.5% 2021 Marketing ™ Fulfilment = SG&A accounted for 17.1% of Net sales, increasing by +3.1 pts vs. 201
Slide 18: EBITDA & EBIT margin increase over two years
Full-year 2021 Financial performance EBITDA & EBIT margin increase over two years EBITDA! & EBIT (€ millions) = EBITDA experienced a robust performance and EBITDA EBIT reached €109m 5 35% ' 25% J v¥ 5.0 % of Net sales 1 1333 I v¥ +33% growth compared to 2019 ! 108.9 | v Strong marketplace growth 1 !
Slide 19: Free Cash Flow
Full-year 2021 Financial performance Free Cash Flow over the last twelve months period 2021 Free Cash Flow (€ million SIDA (Impacted by yy, exceptional — months of Nov. (35) (9) and Dec. at end 2020 Cash from continuing operations, incl. rents: €65m, +43% vs. 2019 433% increase to support Octopia as
Slide 20: Financial liabilities and loans
Other financial liabilities State guaranteed loan State guaranteed loan Account agreement with Casino Net cash pooling agreements Term loan with Casino ▪ ▪
Slide 21: Strategic Outlook
STRATEGIC OUTLOOK discount
Slide 22: Rebalance B2B and B2C activities
Rebalance B2B and B2C acti Cnova plans to keep on investing to further grow while continuing its strategic evolution towards a profitable platform model Growing the : Accelerating the Boosting revenue of development of through more sellers, more fulfilment and better customer satisfaction (NPS) leve