Last close As at 05/08/2026
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▲ −0.02 (−3.17%)
Market capitalisation
EUR35m
Research: TMT
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.
Claranova |
Potential sale of non-core Avanquest activities |
Disposal |
Software and comp services |
7 June 2023 |
Share price performance
Business description
Analysts
Claranova is a research client of Edison Investment Research Limited |
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Claranova has announced that it is in discussions to sell Avanquest’s noncore 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.
Year end |
Revenue |
EBITDA* |
PBT** |
Diluted EPS** |
DPS |
P/E |
06/21 |
470.6 |
32.9 |
24.2 |
0.37 |
0.0 |
4.9 |
06/22 |
473.7 |
25.5 |
7.2 |
0.11 |
0.0 |
17.3 |
06/23e |
516.8 |
31.8 |
9.8 |
0.16 |
0.0 |
11.3 |
06/24e |
541.8 |
43.8 |
22.3 |
0.34 |
0.0 |
5.5 |
Note: *Pre-IFRS 16. **PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Claranova is in discussions with several potential investors to sell Avanquest’s noncore activities in Europe. This includes third-party software distribution and activities linked to the Micro-Application brand, ie paper products, labels, stickers, etc. These activities currently generate revenue of around $12m/€11m in a contracting market and are less profitable than the Avanquest pre-IFRS 16 EBITDA margin, which was 11.4% in FY22 and 11.0% in H123. Claranova expects to continue discussions throughout June with a view to finalising the sale by the end of July. This leaves the division free to focus on developing proprietary subscriptionbased SaaS software in the key segments of PDF, Security and Photo.
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Research: Healthcare
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