Q1 2021-2022 revenue

9 Nov 2021

A smaller than expected contraction for the quarter

  • €88 million in Q1 2021-2022 revenue down -2% year-over-year vs. an initial guidance of -5%
  • A very strong quarterly performance by Avanquest with an +18% increase in revenue

 

Against the backdrop of particularly unusual economic and technology market conditions, we once again demonstrated the strength of our business portfolio in Q1 2021-2022. With revenue of €88 million, the decrease announced for the beginning of the year has accordingly been narrowed.

After a marked improvement in Avanquest’s operating profitability over the previous fiscal year, the division is back on track with double-digit growth and confirms the success of its strategic shift to a SaaS subscription-based business model. This performance by our software businesses highlights the relevance of the buyout of Avanquest’s minority interests whose completion was announced in early November.

For the first time in five years since its creation, PlanetArt registered a drop in sales in response to a post-Covid lockdown decrease in online traffic and Apple’s new App Tracking Transparency feature. Yet, because of our unique business model (fabless, multi-channel web & mobile), our global presence and our digital marketing know-how, we were able to resist better than our competitors, commented Pierre Cesarini, CEO of Claranova.

 

Claranova today announced revenue for Q1 2021-2022 (July – September 2021) of €88 million, decreasing marginally by 2% at current exchange rates and -5% at constant exchange rates compared to the same period last year. This decrease was minimized thanks to the excellent momentum for Avanquest’s activities (software publishing) with double-digit growth in the first quarter (+18% at current exchange rates, +14% at constant exchange rates). This increase largely offset the impact from the exceptional industry wide downturn of PlanetArt activities during the quarter.

The Group is still expecting a gradual return to growth for these activities in Q2 2021-2022. At constant exchange rates and excluding the impact of the CafePress and I See Me! acquisitions, Group revenue declined 10% on a like-for-like basis in Q1.