€290.5m market cap
€7.37 last close
Claranova consists of three businesses focused on mobile and internet technologies: Mobile (digital photo printing), Internet (consumer software) and Internet of Things (IoT). It is headquartered in Paris with operations in Europe, the US and Canada.
Investment summary
Claranova reported 19% underlying growth for H120, further boosted by a strong contribution from the recently acquired Personal Creations. The Mobile business continues its expansion across Europe, while the Internet business is focused on increasing the level of recurring revenues. We have revised our forecasts to reflect higher revenues offset by higher levels of investment in FY20 and FY21.
Y/E Jun |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (fd) (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2018A | 161.5 | 3.9 | 3.1 | 6.31 | 116.7 | 57.5 |
| 2019A | 262.3 | 16.0 | 12.0 | 24.66 | 29.9 | 95.8 |
| 2020E | 419.1 | 25.2 | 21.6 | 30.24 | 24.4 | 8.1 |
| 2021E | 497.0 | 35.6 | 32.0 | 46.89 | 15.7 | 8.2 |
Industry outlook
The digital photo printing business is benefiting from the growth in smartphone photography as well as geographical expansion. The consumer software business recently acquired a group of Canadian businesses to accelerate growth and is looking to leverage website traffic. The Internet of Things (IoT) business is targeting the SME space with its myDevices platform, which provides a simple and effective way to deploy IoT applications.
Last updated on 19/02/2020
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Share price graph
Balance sheet |
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| Forecast net cash (€m) | 24.7 |
| Forecast gearing ratio (%) | N/A |
Price performance
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Key management |
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| Pierre Cesarini | CEO |
| Sébastien Martin | FD |
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