Claranova consists of three businesses focused on mobile and internet technologies: PlanetArt (digital photo printing; personalised gifts), Avanquest (consumer software) and myDevices (internet of things/IoT).
More Claranova content >Investment summary
Claranova reported a revenue decline of 1% for the nine months to 31 March 2022, reflecting a strong performance in Avanquest offset by a tougher period for PlanetArt. The slowdown in PlanetArt’s activities has pushed out the company’s target to achieve €700m in revenue from FY23 to FY24 but the EBITDA margin target of 10% for FY23 still stands. We have revised our forecasts to reflect H1 results and Q322 revenue; we cut our PlanetArt growth forecasts for Q422/FY23 and factor in a contribution from pdfforge from FY23, resulting in reduced EBITDA forecasts for both years.
Y/E Jun |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (fd) (c) |
P/E (x) |
P/CF (x) |
---|---|---|---|---|---|---|
2020A | 409.1 | 20.6 | 11.3 | 20.04 | 17.4 | 6.6 |
2021A | 471.9 | 37.8 | 25.5 | 39.83 | 8.8 | 3.6 |
2022E | 474.7 | 37.6 | 23.6 | 38.25 | 9.1 | 4.2 |
2023E | 530.6 | 48.5 | 34.6 | 57.86 | 6.0 | 3.3 |
Industry outlook
PlanetArt is evolving from a digital photo printing business into a personalised e-commerce business and is focused on expanding its product offering geographically. Avanquest, the consumer software business, is focused on developing and marketing software in three key product areas: PDF, photo editing and security/privacy. The IoT business’s myDevices platform provides a simple and effective way for SMEs and corporates to deploy IoT applications.
Last updated on 30/06/2022Content on Claranova















Sector |
---|
TMT
Access more TMT content
|
Share price graph
Balance sheet |
|
---|---|
Forecast net debt (€m) | 57.2 |
Forecast gearing ratio (%) | 213 |
Price performance
% |
1m |
3m |
12m |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
*% relative to local index |
Key management |
|
---|---|
Pierre Cesarini | CEO |
Xavier Rojo | CFO |