Edison Investment Research - Claranova SE (CLA) Claranova - Strong finish to the year

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Edison Investment Research

Richard Williamson

Claranova - Strong finish to the year

COVID-19 lockdowns were a positive driver of demand for FreePrints photo printing services and also boosted demand for Avanquestâ€™s proprietary software products. With FY20 revenues (â‚¬409m unaudited) coming in 7% ahead of our expectations, we have revised our FY20 forecasts resulting in a 47% upgrade to EBITDA and a 120% upgrade to our normalised EPS forecast. Our FY21 forecasts remain essentially unchanged. The company will report FY20 results on 30 September

13/08/2020 6 EN

Underlying

Claranova SE

Claranova SA, formerly Avanquest SA, is a France-based holding company engaged in the technology industry. The Company operates through three businesses including Avanquest Software, that develops, publishes and markets Personal Computer (PC) software products in several categories, including system utilities, home graphics, digital imaging and small business solutions; the PlanetArt business operates a print-on-demand platform, which features five brands covering both Website and mobile application technologies. Among its applications is FreePrints, a mobile photo printing solution for iOS and Android. The Company also operates through myDevices business, which enables enterprises to design, prototype and commercialize Internet of Things (IoT) solutions through Cayenne, a drag-and-drop IoT project builder. Claranova SA offers its products and services in approximately 100 countries worldwide.

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FR0013426004 Euronext Paris France

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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