Brief: Cnova H1 EBITDA At EUR 17 Mln

Cnova NV

28/07/2022 06:41

July 28 (Reuters) - CNOVA NV  CNV.PA :
    * 2022 SECOND QUARTER ACTIVITY & FIRST HALF FINANCIAL
PERFORMANCE
    * MARKETPLACE GMV DECREASED BY -11% IN THE 1ST HALF OF 2022
BUT
INCREASED BY +19% VERSUS. PRE-PANDEMIC LEVEL OF 2019
    * DURING THE 1ST HALF 2022, IN A CONTEXT OF UNCERTAIN
MACRO-ECONOMIC CONDITIONS AND INFLATION HEADWINDS, CNOVA POSTED
DECREASING OVERALL GMV BY -10% TOGETHER
    * CNOVA 2022 PRIORITY IS TO RECALIBRATE ITS COST STRUCTURE
TO
PRESERVE CASH AND PROFITABILITY
    * HAS LAUNCHED IN Q2 AN EFFICIENCY PLAN TO SWIFTLY
RECALIBRATE ITS
COST STRUCTURE & CAPEX LEVEL TO THIS CURRENT VOLUME OF ACTIVITY
WITH A €75M SAVINGS TARGET ON A FULL-YEAR BASIS BY THE END OF
2023
    * FOR THE 1ST HALF OF 2022, GROSS MARGIN IS STABLE AS % OF
NET
SALES AND EBITDA REMAINS POSITIVE AT €17M

Source text for Eikon:  ID:nGNE9H4J05 
Further company coverage:  CNV.PA 

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