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    MCap

    GBP23m

    Last close

    GBP0.21

    ▲ 1.50 (7.89%)

    Claranova

    MCap

    EUR82m

    Last close

    EUR1.43

    ▲ −0.03 (−1.79%)

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    GBP1.80

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Claranova (PAR: CLA)

Last close As at 01/11/2024

EUR1.43

▲ −0.03 (−1.79%)

Market capitalisation

EUR82m

Claranova consists of three businesses focused on mobile and internet technologies: PlanetArt (digital photo printing; personalised gifts), Avanquest (consumer software) and myDevices (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.

Latest Insights

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TMT | Update

Claranova — Building the foundations for profitable growth

TMT | Update

Claranova — EBITDA improvement across all divisions

TMT | Update

Claranova — Guiding to strong H124 EBITDA growth

TMT | Outlook

Claranova — Moving closer to 10% EBITDA margin target
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Eric Gareau

    CEO

  • Marc Goldberg

    Chairman

Balance Sheet

Forecast net debt (€m)

102.4

Forecast gearing ratio (%)

4267

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (10.1) (18.3) 4.7
Relative (6.8) (16.3) (2.0)
52 week high/low €2.9/€1.3

Financials

In FY24, Claranova had a relatively stable year from a revenue perspective but expects to report a significant increase in profitability due to its focus on optimising customer acquisition spend and reducing controllable costs. With management continuing to expect an adjusted EBITDA margin of c 10% for FY24, we raised our adjusted EBITDA forecasts by 2.2% in FY24 and 0.4% in FY25. The company expects to report the outcome of its ongoing strategic review when it reports FY24 results on 30 October.

Y/E Jun Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 473.7 28.3 7.2 10.70 13.4 2.2
2023A 507.0 36.3 2.2 4.59 31.2 1.8
2024E 495.5 49.6 18.3 22.75 6.3 1.6
2025E 523.5 55.0 29.9 39.11 3.7 1.5

Research

Update

TMT

Claranova — EBITDA improvement across all divisions

Update

TMT

Claranova — Guiding to strong H124 EBITDA growth

TMT

Update

Claranova — Building the foundations for profitable growth
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Thematics

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media
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