Core Points - Cnova N.V. has announced its 2025 Annual General Meeting of Shareholders (AGM) scheduled for June 25, 2025, at 11:30 a.m. CEST in Amsterdam [3] - The agenda for the AGM includes discussions on the Board report for the financial year 2024, remuneration report, allocation of results and dividend policy, and voting items such as the adoption of annual accounts and reappointment of an Executive Director [8] Company Overview - Cnova N.V. is a leading French ecommerce company serving 6.9 million active customers through its website, Cdiscount, offering a wide range of competitively priced goods and various services [6] - The company also provides B2B solutions internationally through Octopia, Cdiscount Advertising, and C-logistics, and is part of Groupe Casino, a global diversified retailer [6]

Core Insights - Cnova N.V. reported a continued growth in GMV of +2% in Q1 2025, driven by commercial momentum and operational improvements [2][5] - The company executed a recovery strategy effectively, resulting in robust new customer acquisition and enhanced brand recognition [3][4] - Financial performance showed an overall GMV increase to €610.6 million, reflecting a +0.9% change compared to Q1 2024 [4][6] Financial Performance - Overall GMV (including VAT) increased from €605.3 million in Q1 2024 to €610.6 million in Q1 2025, a +0.9% increase [4] - E-commerce platform GMV rose slightly from €579.8 million to €580.8 million, a +0.2% change [4] - Direct sales GMV decreased by -8.2% to €164.3 million, while Marketplace GMV increased by +6.1% to €334.7 million [7] Growth Metrics - Like-for-like (LFL) growth for overall GMV was +2% in Q1 2025, continuing the positive momentum from Q4 2024 [5] - Marketplace GMV grew by +7%, now accounting for 67% of total GMV, an increase of +3.3 percentage points compared to 2024 [5][6] - Product GMV increased by +2% on a LFL basis, with a strong performance in March at +8% [5] Profitability and Investments - Net sales decreased by -5% in Q1 2025, reflecting a focus on profitability and reduced direct sales GMV [6] - EBITDA excluding IFRS 16 was €5 million in Q1 2025, down €2 million from the previous year, primarily due to targeted commercial and marketing investments [6][7] - Advertising services revenues increased by +5%, driven by strong performance in Retail Media [6] Customer Experience and CSR Initiatives - Cnova's NPS (Net Promoter Score) reached a record high, growing by +6 points compared to the previous year, with improvements in both Marketplace and Direct sales NPS [6] - The company's CSR strategy has led to "More sustainable products" accounting for 26.7% of Product GMV in Q1 2025, an increase of +6.9 percentage points from 2024 [6]