Form 6-K - Report Of Foreign Private Issuer - District Of Columbia Securities And Exchange Commission - 2017 Page 7

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Net financial cash position at December 31, 2016 was €178 million.
Customer offer and service enhancements during 2016 centered on improvement of existing and development of new services,
including:
large items (> 30 kgs): same-day delivery Monday through Saturday;
small items (< 30 kgs): delivery 7 days a week as well as by appointment;
marketplace vendor fulfillment services (logistics and customer relations are handled directly by Cdiscount);
the strengthening of Cdiscount’s competitive position thanks to the implementation of a centralized purchasing platform,
“MaNo,” by Groupe Casino and Groupe Conforama;
the launches of several new innovative services:
Cstream, Cdiscount’s multimedia streaming service;
Cdiscount Mobile, Cdiscount’s price competitive 4G mobile telephone service;
Cdiscount Cloud, unlimited photo storage plus 20 Go of video, music and document storage at no charge for CDAV
customers;
Cdiscount Express (previously Alimentaire Express), Cdiscount’s 1½ hour delivery service in and around Paris, free
by appointment for CDAV members;
the introduction of daily private sale offers to CDAV customers.
2016 perimeter changes:
Over the course of 2016, the Company has undergone a significant reconfiguration resulting in streamlined, more efficient operations.
Perimeter changes include the:
sale of Cdiscount Thailand and Cdiscount Vietnam;
closure of overseas sites Cdiscount Cameroun, Cdiscount Côte d’Ivoire, Cdiscount Sénégal and Cdiscount Colombia; and
merger of Cnova Brazil into Via Varejo.
As a result, 2015 and 2016 consolidated net profit/(loss) from continuing operations and KPIs exclude the activities of these business
units.
4 Quarter 2016 Highlights
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GMV amounted to €943 million for the 4 quarter 2016 (+11.3% l-f-l compared to the same period in 2015) and was boosted by a
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record breaking Black Friday in November.
The 4 quarter 2016 marketplace share of total GMV increased 362 basis points in 2016 and reached 31.4% compared to
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27.8% in 2015. Fulfillment by Cdiscount continues to make progress: the share of marketplace GMV fulfilled by Cdiscount
rose from 3% in December 2015 to 9% in December 2016.
Net sales totaled €584 million in the 4 quarter 2016 (+7.8% l-f-l). All product categories benefited from Black Friday operations (up
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80% compared to 2015), which also contributed to the traffic’s site dynamism.
Gross profit totaled €75 million (+8.5% y-o-y) with a corresponding gross margin of 12.9% (+74 basis points).
Operating EBIT amounted to €1 million compared to €(2) million in 2015. 4 quarter 2016 operating EBIT at Cdiscount was €4
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million.
Net loss from continuing operations amounted to €(19) million with an adjusted EPS of €(0.04).
Net result from discontinued operations amounted to €341 million and presented an adjusted EPS excluding non-recurring items of
€(0.07) and mainly consisted of: i) the gain related to the transfer of Cnova Brazil to Via Varejo in the 4th quarter for €546 million, ii)
Cnova Brazil monthly net result of €(17) million as of October 31, 2016 (date of the transfer to Via Varejo), and iii) €(178) million of
exchanges losses related to Cnova Brazil previously recorded in equity.
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