This press release presents unaudited Group consolidated revenue, prepared in accordance with IFRS.
Claranova reported strong revenue for H1 2024-2025 (July – December 2024) of €294m, holding steady in relation to last year’s first-half like-for-like (-1% at actual exchange rates). The performance in H1 2024-2025 is all the more noteworthy given the unfavorable year-end holiday season calendar for the Group’s key markets (United States and United Kingdom). In particular, the exceptional proximity of Thanksgiving and Christmas (less than 4 weeks) reduced the number of sale days for key products during this period (greeting cards, gift cards, personalized gifts, etc.). This shorter period also put considerable pressure on the supply chain for delivering personalized Christmas goods such as gift cards made from traditional Thanksgiving photos.
In this context, Claranova’s teams overcame these logistical challenges and confirmed their ability to effectively execute digital marketing campaigns with Q2 2024-2025 revenue remaining steady at €206m versus €207m last year.
In addition to demonstrating the resilience of sales, in line with Group’s strategy, the teams continued to focus on improving profitability. Thanks to this fine-tuned management of sales and the first measures of the “One Claranova” plan (start of work on tax optimization, capitalization of R&D expenses), Claranova is expecting double-digit growth in EBITDA[2] for H1 2024-2025.
Based on this positive momentum for profitability, the Group reaffirms its 2027[3] target of 5%-8%[4] for CAGR or total annual revenue of €575m-€625m, accompanied by an EBITDA margin of 13%-15%, and a ratio of net financial debt to EBITDA of less than 1x.
Eric Gareau, Chief Executive Officer of Claranova commented: “Claranova’s teams were able to overcome the commercial and logistical hurdles created by a tighter calendar for the year-end holiday season. Not only did they execute their plans with success, but they also further improved their operating margins despite 5 fewer promotional days than last year. Thanks to our resilience and agility, we reported solid sales for the first half and are on track for achieving further gains in profitability.“
[1] EBITDA as a percentage of revenue. [2] EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-GAAP aggregate used to measure the operating performance of the businesses. It equals Recurring Operating Income before the impact of IFRS 2 (share-based payment expenses), depreciation and amortization, and the IFRS 16 impact on the recognition of leases. [3] FY 2026-2027 [4] At constant consolidation scope without external growth
