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Financial release
10.02.2021
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H1 2020-2021 revenue

Strong growth at constant exchange rates : +25%

  • H1 2020-2021 revenue: €278 million
  • Growth continues at a robust pace, +25% at constant exchange rates,
    + 17% like-for-like
  • Profitability improves significantly in H1 with EBITDA expected to nearly double

With 25% growth at constant exchange rates and strong growth in operating profitability expected for this first half, Claranova once again demonstrates the resilience of its business model and the strength of a digital company that in just a few years has successfully developed product offerings popular with millions of customers throughout the world. Our growth potential remains considerable and is supported by the development of the digital economy, accelerated by the pandemic“, commented Pierre Cesarini, CEO of Claranova group.

Claranova reported revenue for the FY 2020-2021 first half (July-December 2020) of €278 million, up 25% at constant exchange rates. Reflecting the Group’s exposure to North American and UK currencies which weakened against the euro, this period was significantly impacted by exchange rate fluctuations. Taking into account this impact, revenue grew 19% at actual exchange rates. Like-for-like growth, defined as at constant exchange rates and consolidation scope, amounted to 17% (compared to 19% in H1 2019-2020), despite a complex health and supply chain environment, confirming once again the resilience of Group’s businesses.

The public health situation we have been experiencing for one year now remains particularly positive for B2C technology companies like Claranova. Increasing Internet traffic and decreasing customer acquisition costs since the beginning of the COVID-19 pandemic have driven the growth of our activities. The last calendar quarter of 2020, and particularly the year-end holiday period, were nevertheless impacted by severe supply chain bottlenecks (UPS, FedEx and other national postal services), temporarily limiting our ability to deliver our customers in a satisfactory manner. To reduce this pressure on the supply chain and maintain the quality of our services, the Group adopted a cautious strategy of marketing investments. This strategy should be accompanied by a significant improvement in operating profitability in this first half, now expected to nearly double, justifying on an exceptional basis this preannouncement in conjunction with the publication of the H1 revenue. These figures support the targets previously announced for annual revenue of €700 million and operating profitability above 10% by 2023.

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