Claranova (CLA) H2 23/24 earnings summary

Executive summary

• Annual revenue reached €496m, remaining stable at an all-time high, with 1% like-for-like growth and a focus on profitability.

• EBITDA increased 41% year-over-year to €46m, with margin rising from 6.4% to 9.3%, driven by Avanquest and PlanetArt.

• Net loss was €12m, mainly due to significant net financial expenses, including €23.3m in charges from early OCEANE bond redemption.

• Net cash flow from operating activities quadrupled to €40m, supporting significant debt reduction.

• 95% of revenue was generated internationally, highlighting the group's global presence.

Financial highlights

• EBITDA margin improved to 9.3% from prior year.

• Cash and cash equivalents stood at €37m at year-end, after major debt repayments and refinancing.

• Net debt decreased by €10m to €102m, reflecting lower indebtedness.

• Recurring operating income rose to €39m (vs. €25m prior year).

• Group gross debt reduced by €40m (-22%).

Outlook and guidance

• Several new initiatives and AI deployments are expected to drive future growth, especially in PlanetArt.

• The group is actively preparing for compliance with the CSRD directive and strengthening sustainability reporting.

• New “One Claranova” strategic plan aims to accelerate profitability and long-term value creation.

• Sale of myDevices division is being considered as it is no longer strategic.

• myDevices is preparing for expansion into new verticals and distribution channels to increase ARR.