Cnova N.V. Announces Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2015 ; Provides Earnings Guidance for the Year 2016
For the year, the company reported net sales of 3,420.4 million, total operating loss of 210.4 million, loss before tax of 269.1 million, net loss from continuing activities of 265.7 million, net loss attributable to company equity holders of 261.7 million, adjusted net loss for the period attributable to equity holders of company of 220.3 million or 0.05 per share. Negative free cash flow was 69.5 million, net cash from continuing operating activities was 5.3 million and purchase of property, equipment & intangible assets was 74.7 million. Net financial debt was 253.8 million. Operating LBITDA was 128.8 million
For full year 2016, the company targeting continued improvement in operating EBIT.
On a longer term basis, Cnova continues to focus on operational management and is concentrating its efforts on finding the right balance between top line growth and increased profitability while maximizing free cash flow generation. The Company is focusing its core activities on its large markets in order to benefit from near and long term upside potential.