Claranova (PAR: CLA)

Currency in EUR

Last close As at 09/06/2023

EUR1.85

−0.02 (−1.07%)

Market capitalisation

EUR85m

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).

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.

Sector

TMT

Equity Analyst

Key Management

  • Pierre Cesarini

    CEO

  • Xavier Rojo

    CFO

Balance Sheet

Forecast net debt (€m)

91.8

Forecast gearing ratio (%)

4590

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (20.7) (6.7) (45.3)
Relative (18.5) (5.0) (50.3)
52 week high/low €3.9/€1.8

Financials

Claranova has announced that it is in discussions to sell Avanquest’s non core activities in Europe. These activities make up less than 15% of Avanquest’s revenues and do not fit with the division’s strategy of developing proprietary SaaS solutions focused on three key segments. On a lower margin than the divisional average, the disposal should improve the profitability of Avanquest.

Y/E Jun Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 470.6 36.5 24.2 37.47 4.9 2.0
2022A 473.7 28.3 7.2 10.70 17.3 2.8
2023E 516.8 36.0 9.8 16.44 11.3 2.4
2024E 541.8 48.1 22.3 33.77 5.5 1.8

Thematics

TMT

MediaWatch – April 2023

Digital Marketing and Internet Media Technology Platform

TMT

MediaWatch – January 2023

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

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