Coronavirus epidemic: Claranova group activities protected

17 Mar 2020

The Claranova group announces that, to date, the Covid-19 coronavirus epidemic and the measures adopted to curb its spread have had no negative impacts on its activities.

To date, the Mobile division – orders of photos and personalized objects on the Internet/smartphones – and the Internet division – online sales of software solutions and services – which represent over 98% of Claranova revenue, have not observed any impact on their activities. As these are primarily online activities, they are not affected by the travel restrictions on their customers.

At this stage, the lockdown and production stoppage measures adopted in the main countries affected by the virus (China, Italy, South Korea and France) have had no impacts on the activities or supplies of these divisions.

The Internet of Things (IoT) division could be partially exposed, as the software platform myDevices that is designed to manage connected devices depends on the production and deployment of such devices. The risk is not however material, as the activity represents less than 1.3% of the Group’s annual revenue.
The Group notes that Italy and France, which have been hit hardest by this epidemic, represent less than 2% of consolidated revenue.

Claranova has solid fundamentals with cash exceeding €90 million as of December 31, 2019.

Furthermore, Claranova has adopted the necessary measures to protect against the epidemic and rolled out health protection measures in all Group sites.
Employees are now advised to work from home and the Group has provided them with all the tools required to do so. All non-essential trips and meetings have been canceled and replaced by video conference calls, including the presentation of the Group half-year results.

The Company is fully committed to ensuring the safety of its employees and the continuity of its services. We hope that the situation will quickly improve, and our thoughts go out to those persons affected by this epidemic.

In this uncertain macro-economic and health context relating to the spread of the Covid-19 coronavirus, Claranova continues to closely monitor any changes in the situation and will examine these issues in more detail on the publication of its half-year results on March 31.