Continuing growth by Avanquest (+8%) and myDevices (+18%)
EBITDA margin2 target for FY 2023-2024 maintained at around 10%
This press release presents unaudited Group consolidated revenue, prepared in accordance with IFRS.
PARIS, May 07, 2024--(BUSINESS WIRE)--Regulatory News:
Claranova (Paris:CLA):
Revenue trends by division for Q3 2023-2024:
In €m
Dec. 2023
Jan. to Mar. 2024 (3 months)
Dec. 2022
Jan. to Mar. 2023 (3 months)
Change
Change at constant exchange rates
Change at constant consolidation scope
Change at constant scope and exchange rates
PlanetArt
61
60
2%
-2%
2%
-2%
Avanquest
31
29
7%
8%
7%
8%
myDevices
2
2
18%
18%
18%
18%
Revenue
94
91
4%
2%
4%
2%
Revenue trends by division for the first nine months of FY 2023-2024:
In €m
Jul. 2023
to Mar. 2024
(9 months)
Jul. 2022
to Mar. 2023
(9 months)
Change
Change at constant exchange rates
Change at constant consolidation scope
Change at constant scope and exchange rates
PlanetArt
296
314
-6%
-3%
-6%
-3%
Avanquest
92
86
7%
12%
7%
12%
myDevices
7
5
48%
54%
48%
54%
Revenue
395
405
-2%
1%
-2%
1%
Eric Gareau, CEO of Claranova commented: "Claranova's recovery remains on track with growth in revenue of 2% in the third quarter. This positive momentum reflected strong performances by Avanquest and myDevices, while PlanetArt continued to improve the effectiveness of its marketing investments. By continuing to focus on profitability, we expect to achieve our target for the EBITDA margin of around 10% for FY 2023-2024. Claranova is now entering a new chapter in its development. After renewing its governance and management, and rescheduling the maturity of its debt, Claranova is now well positioned to seize profitable growth opportunities and create value for its shareholders, priorities that will be the key focus of the new strategic plan to be unveiled in the coming months."
PlanetArt: a new path for virtuous and profitable growth
PlanetArt, the Group's the personalized e-commerce division, reported Q3 revenue of €61m, down -2% (up +2% at actual exchange rates), bringing total revenue for the first 9 months to €296m (-3% at constant exchange rates and -6% at actual exchange rates). In line with the Group's strategy, its teams continued their efforts to improve the return on marketing investments.
Avanquest: a mature business model delivering an excellent performance
Continuing the trend of the first half, Avanquest's quarterly sales rose 8% to €31m (+7% at actual exchange rates). For the first nine months, the software publishing division reported revenue of €92m, up from €86m year on year, representing growth of 12% (+7% at actual exchange rates).
On that basis, core activities which now account for 90% of the division's sales (vs. 82% one year earlier) and consist of sales of proprietary SaaS software, all registered growth over the period3 and notably + 38% for Adaware, +6% for Soda PDF software and +4% for InPixio. This means that non-core activities now account for only 10% of sales, or €9m at the end of March, 2024, down 43% over the period.
myDevices: on course for profitability with a continuing expanded range of solutions
myDevices, the Group's IoT division, reported Q3 sales of €2m, up 18% (+18% at actual exchange rates) year-on-year. This performance has benefited from revenue generated by deployments with partner companies. As a result, for the first nine months, revenue rose 54% to €7m (+48% at actual exchange rates).
At the end of March, 2024, myDevices had 210 partners and €3.4m in annual recurring revenue (ARR), an increase of 10% (+5% at actual exchange rates) from the first nine months of FY 2022-2023.
Financial calendar: August 1, 2024: FY 2023-2024 revenue October 30, 2024: FY 2023-2024 results
About Claranova:
As a diversified global technology company, Claranova manages and coordinates a portfolio of majority interests in digital companies with strong growth potential. Supported by a team combining several decades of experience in the world of technology, Claranova has acquired a unique know-how in successfully turning around, creating and developing innovative companies.
Claranova has proven its capacity to turn a simple idea into a worldwide success in just a few short years. Present in 15 countries and leveraging the technology expertise of its 800+ employees across North America and Europe, Claranova is a truly international group, with 95% of its revenue derived from international markets.
Claranova’s portfolio of companies is organized into three unique technology platforms operating in all major digital sectors. As an e-commerce leader in personalized objects, Claranova also stands out for its technological expertise in software publishing and the Internet of Things, through its businesses PlanetArt, Avanquest and myDevices. These three technology platforms share a common vision: empowering people through innovation by providing simple and intuitive digital solutions that facilitate everyday access to the very best of technology.
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.
