Claranova (CLA) H2 24/25 earnings summary

Executive summary

• FY24-25 marked a strategic transformation to a pure-play SaaS software publisher, highlighted by the sale of PlanetArt and myDevices, and a renewed focus on core software activities.

• Net income surged to €73m, reversing a €12m loss from the prior year, mainly due to the PlanetArt sale.

• Shareholders' equity returned to a positive €40m, up from negative €8m last year.

• Financial debt was reduced by over €100m, from €153m to €48m, and net debt to €38m.

Financial highlights

• Annual revenue from software activities was €118m, down 3% year-over-year, but up 1.4% like-for-like.

• EBITDA remained stable at €24.1m, with an improved margin of 20.4% (up from 9.3%).

• Net profit reached €73m, primarily due to the one-time gain from the PlanetArt divestiture.

• 94% of revenue was generated internationally.

• Cash flow from continuing operations was €14m; closing cash position post-PlanetArt sale was €10m.

Outlook and guidance

• 2028 targets: €150-160m revenue, 23-25% EBITDA margin, and net leverage close to zero.

• Plans to double B2B revenue share, expand product offering using AI, and transfer to Euronext Growth for greater visibility and lower costs.