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Financial release
02.10.2018

FY 2017-2018 results

Return to operating profitability confirmed in FY 2017-2018

  • Revenue of €161.5 million, up 32% (+24% at current exchange rates)
  • EBITDA1of €3.9 million, up €8.9 million, with a further margin improvement from
    -3.8% to +2.4% of revenue
  • Strong growth in cash flow from operations to +€5.2 million in FY 2017-2018 from
    -€0.4 million in FY 2016-2017
  • €3.1 million improvement in Net income, Group share, to -€7.9 million
  • Cash of €65.7 million, up €48.6 million

Four years after Avanquest’s reinvention and one year since the birth of Claranova, this year marked a strategic turning point for the Group. We confirmed our profitability1 and demonstrated our ability to generate positive cash flows, while maintaining strong revenue growth. Investments in each of our divisions in recent years are bearing fruit and offer further solid growth prospects. Bolstered by a financing capacity in excess of €65 million, Claranova has strong assets to underpin continued growth and further improvements in profitability”, commented Pierre Cesarini, CEO of Claranova group.

Claranova reports significant across-the-board improvements in results for FY 2017-2018, confirming its return to operating profitability1, while keeping a firm focus on strong growth. For the year ended June 30, 2018, the Group reports consolidated revenue of €161.5 million, up +32 at constant exchange rates (+24% at current exchange rates), generated 93% outside France.

The Group’s operating profitability indicator (EBITDA1) is now positive at €3.9 million, an improvement of €8.9 million year-on-year, with a 6-point increase as a percentage of revenue (+2.4% of revenue in FY 2017-2018, compared with -3.8% in FY 2016-2017). This €8.9 million improvement was achieved despite an increase in PlanetArt’s marketing investment of 28%, highlighting its virtuous growth model. On this basis, Recurring Operating Income (ROI) also increased by +€6.9 million to -€3.7 million, after the impact of share-based payments expenses (€7.1 million). Similarly, Net income, Group share, is -€7.9 million, up +€3.1 million year-on-year. Restated for share-based payments expenses (€7.1 million), ROI would be +€3.4 million and Net income, Group share, would be close to break-even at -€0.8 million.

The Group’s successful development is further confirmed by the generation of positive cash flows from operations of +€5.2 million (-€0.4 million in FY 2016-2017).

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