- Revenue steady at €474 million in an unprecedented
context
- Positive business momentum with Q4 revenue of €102 million
(+4% at actual exchange rates)
This press release presents unaudited Group
consolidated revenue, prepared in accordance with IFRS.
“Claranova reported full-year revenue of €474 million for FY
2021-2022, successfully holding its ground during an unprecedented
market environment marked by the Ukrainian conflict and new
marketing restrictions on customer targeting for our PlanetArt
division, curtailing growth for all its businesses. Despite these
challenges, PlanetArt was able to stem the decline in Q4 revenue
thanks to the agility and know-how of its teams and continue to
outperform the competition. In addition, our diversified business
mix further adds to our resilience, and notably Avanquest's strong
growth momentum, with revenue exceeding €100 million in FY
2021-2022, up 18% year-on-year. Also highlighting this trend,
annual revenue for the IoT1 business rose 36% at actual
exchange rates to €5 million, which included nearly €2.5 million in
annual recurring revenue (ARR2), up 75% at June 30,
2022.
Of course, economic developments like higher raw material prices
and increased customer acquisition costs for our main division,
will, as expected, temporarily weigh on our short-term
profitability. Nevertheless, we remain confident in our ability to
rapidly return to growth, and confirm our goal for an EBITDA margin
above 10%3 in FY 2022-2023. This is because the markets addressed
by our divisions remain structurally strong and continue to offer
solid growth prospects", commented Pierre Cesarini, CEO of
Claranova.
Regulatory News:
Claranova (Paris:CLA) reported annual revenue of €474 million
for FY 2021-2022, successfully holding its ground during
unprecedented economic conditions combining the effects of new
marketing constraints for PlanetArt activities (changes to customer
targeting process following the introduction of Apple's new iOS)
and pressure on prices following the conflict in Ukraine. Thanks to
its agility and diversified business mix, Claranova was able to
deliver a strong performance in Q4 2021-2022 with revenue of €102
million, up 4% from last year’s same period). This last quarter
also includes initial effects of the internal marketing adjustments
made to improve customer targeting by the PlanetArt division and
the positive trend for Avanquest software publishing activities and
myDevices Internet of Things businesses, up respectively 9% and
107% at actual exchange rates compared with Q4 2020-2021.
Revenue trends by division for FY 2021-2022:
In €m
July 2021 to June 2022 (12
months)
July 2020 to June 2021 (12
months) Reported basis
July 2020 to June 2021 (12
months) Restated basis4
Change
Change at constant exchange
rates
Change at constant consolidation
scope
Change at constant scope and
exchange rates
PlanetArt
366
380
380
-4%
-9%
-7%
-12%
Avanquest
102
88
86
18%
12%
18%
12%
myDevices
5
4
4
36%
29%
36%
29%
Revenue
474
472
471
1%
-5%
-2%
-7%
Revenue trends by division for Q4 2021-2022:
In €m
April to June 2022 (3
months)
April to June 2021 (3 months)
Reported basis
April to June 2021 (3 months)
Restated basis4
Change
Change at constant exchange
rates
Change at constant consolidation
scope
Change at constant scope and
exchange rates
PlanetArt
76
75
75
1%
-9%
-2%
-11%
Avanquest
25
23
23
9%
2%
9%
2%
myDevices
2
1
1
107%
88%
107%
88%
Revenue
102
98
98
4%
-5%
2%
-7%
PlanetArt: initial positive impacts of the new marketing
strategy
Bolstered by the first effects of the new marketing strategy to
optimize the customer targeting process, PlanetArt reported Q4
revenue of €76 million, up 1% at actual exchange rates. The
division's annual revenue for the period achieved €366 million,
contracting 4% at actual exchange rates compared with a
particularly dynamic FY 2020-2021.
While the impact of marketing constraints since the rollout of
Apple's App Tracking Transparency (ATT) feature continue to weigh
on customer acquisition costs, all PlanetArt teams are fully
focused on getting back on track for growth by rebuilding effective
customer acquisition channels.
Indeed, the division's market potential remains as important as
ever with its growth capacity intact. In addition, PlanetArt
benefits from strong competitive differentiation in terms of its
product lines, business model and geographic presence, which
contributed to further market share gains during this difficult
year. Highlighting its confidence in its growth prospects,
PlanetArt continued to invest over the past 12 months to strengthen
its teams and infrastructure, convinced that it will emerge from
this transition period even stronger and rapidly return to a path
of strong growth.
Avanquest: annual revenue above €100 million (+18%)
Maintaining the momentum of previous quarters, the Group's
software publishing division had Q4 revenue of €25 million, up from
€23 million in the same quarter last year, with 9% growth at actual
exchange rates (2% at constant exchange rates). On that basis, the
division reported annual revenue for FY 2021-2022 of €102 million,
up 18% at actual exchange rates (12% at constant exchange
rates).
Avanquest's proprietary SaaS security and PDF software
solutions, on the other hand, experienced stronger growth:
- For its security solutions (under the
Adaware brand), growth was 24% at actual exchange rates (€43
million for FY 2021-2022 compared with €34 million last year);
- For its PDF solutions (under the Soda PDF
brand), 26% growth at actual exchange rates to €27 million, up from
€21 million one year earlier;
- For its photo applications (under the
InPixio brand), growth was identical to that of Avanquest as a
whole of 18% to €8.2 million (up from €7 million in FY
2021-2022).
This strong growth in its proprietary software was bolstered by
the introduction of new products in FY 2021-2022, including SodaPDF
14, InPixio 12 and Adaware VPN. Furthermore, the integration of PDF
Forge, acquired on July 1, 20225, will contribute to the
improvement of the division's revenues as of the next fiscal
year.
myDevices: €5 million in annual revenue (+36%)
The Group's IoT division recorded Q4 revenue of €2 million, up
107% at actual exchange rates (88% at constant rates). For the full
fiscal year, myDevices had revenue of €5 million, representing
growth of 36% at actual exchange rates (29% at constant exchange
rates).
This increase was accompanied by growth in annual recurring
revenue, with ARR of €2.4 million at June 30, 2022, up 75% from one
year earlier at actual exchange rates. The number of partners
distributing the myDevices technology to their customers rose over
the same period from 82 to 178 distributors, an 85% increase in the
year.
Financial calendar: October 12, 2022: FY
2021-2022 full-year 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 and 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 nearly 800 employees across North America and Europe, Claranova
is a truly international company, 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 a leader in personalized e-commerce, 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.
For more information on Claranova group:
https://www.claranova.com or
https://twitter.com/claranova_group
Disclaimer:
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 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.
Appendices
Appendix 1: Restated Q1 revenue over 2020-2021 and
2021-2022
In €m
Jul. to Sep.
2020
Reported basis
Jul. to Sep.
2020
Restated basis
Jul. to Sep.
2021
Reported basis
Jul. to Sep.
2021
Restated basis
PlanetArt
69.4
69.4
63.8
63.8
Avanquest
19.6
19.2
23.0
22.6
myDevices
1
1
1.0
1.0
Q1 revenue
90.0
89.6
87.7
87.4
Appendix 2: Restated Q2 revenue over 2020-2021 and
2021-2022
In €m
October to December
2020
Reported basis
October to December
2020
Restated basis
October to December
2021
Reported basis
October to December
2021
Restated basis
PlanetArt
164.3
164.3
163.3
163.3
Avanquest
22.4
21.9
28.2
27.8
myDevices
1.2
1.2
1.3
1.3
Q2 revenue
187.9
187.4
192.8
192.4
Appendix 3: Restated Q3 revenue over 2020-2021 and
2021-2022
In €m
January to March
2021
Reported basis
January to March
2021
Restated basis
January to March
2022
Reported basis
January to March
2022
Restated basis
PlanetArt
71.9
71.9
63.6
63.6
Avanquest
22.9
22.5
25.9
25.7
myDevices
0.8
0.8
1.2
1.2
Q3 revenue
95.6
95.2
90.8
90.5
1 Internet of Things 2 Annual Recurring Revenue. 3 EBITDA as a
percentage of revenue. 4The difference with previous published
figures reflects an accounting correction to the Avanquest Software
division’s revenue arising from the application of IFRS 15 on the
recognition of revenue over time from Soda PDF subscriptions
transferred to a cloud-based model in August 2020. Details of the
restatement by quarter for FY 2020-2021 and FY 2021-2022 are
provided in the Appendix. 5 Press release of 4 July 2022
CODES Ticker : CLA ISIN : FR0013426004
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