“As anticipated at the beginning of the year, Claranova gradually returned to growth in Q2 2021-2022.
With the end of the health crisis in view, and in response to the industry-wide structural transformation of online marketing channels, PlanetArt continues to adapt its customer acquisition strategy. Initial positive effects on growth were observable starting in Q2. Market potential stands unchanged, PlanetArt’s uniqueness remains intact and we are continuing to gain market share in this rapidly changing industry. Based on these developments, we anticipate renewed growth for our personalized e-commerce division in the coming quarters.
As for Avanquest, its transition into a SaaS software company is now complete and we are starting to reap the benefits of the work accomplished over the last three years. The successful transformation of Avanquest’s business model is confirmed by a growth rate of more than 20% over the period. This positive momentum, in terms of both revenue growth and profitability, is expected to continue in the coming years.
Lastly, myDevices posted a significant increase in recurring revenues over the period and confirmed the ramp-up of subscription offerings for its Internet of Things management platform, harnessing a technology that remains unparalleled in this market.
While Claranova’s financial and operational performance in H1 lagged behind the company’s historical results, this was achieved in a context of severe upheaval that impacted our entire sector. This performance thus offers a clear demonstration of the Group’s structural strength. It underscores the relevance of our multi-sector approach within the technology industry, with considerable potential in each of our activities”, declared Pierre Cesarini, CEO of Claranova.
Claranova reported revenue for H1 2021-2022 (July-December 2021) of €281 million, up 1% at actual exchange rates and down 2% at constant exchange rates. The Group is gradually rebounding, with €193 million in Q2 revenue, up 3% at current exchange rates, compared to a decline of 2% in the preceding quarter. At constant exchange rates and excluding the impact of the acquisitions of CafePress and I See Me!, Group revenue declined 6% over the period like-for-like, including a 3% decrease in Q2 2021-2022.
This gradual return to growth reflects a more limited decline in PlanetArt business in Q2 (-1%, compared to -8% in Q1 at current exchange rates) and an acceleration in software publishing activities, with 26% growth in the same quarter.
The Group continues to foresee a gradual improvement in growth by its PlanetArt division in the coming quarters, in conjunction with continued momentum in Avanquest activities.