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Claranova (CLA)

Business description

Claranova consists of three businesses focused on mobile and internet technologies: PlanetArt (digital photo printing), Avanquest (consumer software) and myDevices (Internet of Things). It is headquartered in Paris with operations in Europe, the US and Canada.

Stock data

Market cap.€256.2m
Last close€0.65
High / Low (52 weeks)€1.2 / €0.5
Stock market listingEU
Forecast net debt (€m)0
Forecast gearing ratio (%)0
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual9.4(22.9)(22.5)
Relative *9.1(16.8)(10.9)

* % Relative to local index

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Y/E Jun Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2017A 130.2 (5.0) (6.6) (1.79) N/A N/A
2018A 161.5 3.9 3.1 0.67 97.2 N/A
2019E 234.6 16.9 13.6 2.06 31.6 N/A
2020E 274.8 28.5 25.3 3.93 16.6 N/A

Last updated on 21/11/2018

Latest research

Investment summary

Claranova reported revenue growth of 61% y-o-y for Q119, with 45% growth in PlanetArt, 101% in Avanquest (3% organic) and 49% in myDevices. Organic revenue growth for the group was 33%, up from 24% for FY18. The acquired businesses in Avanquest added 27% growth to reported revenues and saw organic growth of 24% for Q119. On the back of better than expected growth, we lift our normalised EPS forecast by 1.9% in FY19 and 1.4% in FY20.

Last updated on 29/11/2018

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 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 29/11/2018

Key management

Pierre Cesarini, CEO
Sébastien Martin, FD

Company address

Immeuble Vision Défense – 89-91
Boulevard National
La Garenne-Colombes CEDEX
France
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