Claranova - Guiding to strong H124 EBITDA growth
Claranova reported a small increase in H124 revenue on a constant currency (cc) basis, as good growth in Avanquest and myDevices offset lower revenue in the larger PlanetArt division. Management expects H124 EBITDA to be at least 50% higher year-on-year (with growth in all divisions), highlighting the focus on profitability over growth. We maintain our EBITDA and EPS forecasts pending H124 results on 20 March.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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