Claranova Se · EURONEXT:ALCLA
Claranova — FY2019-2020 Earnings Presentation
32 slides from Claranova's earnings presentation, Sep 30, 2020
Slide 1: 2019-2020 Full-year results
2019-2020 Full-year results September 2020
Slide 2: A global technology player
PlanetArt Personalized e- Claranova commerce A global technology player Avanquest Revenue in excess of €400 million Software publisher Present in 3 major digital sectors Products acclaimed by millions of customers Revenue primarily generated internationally myDevices IoT management platform
Slide 3: An innovative and resilient technology Group
An innovative and resilient technology Group Innovation Resilience Innovative technology products Resilient business models founded acclaimed by tens of millions of on freemium B2C1 offerings customers worldwide Recurring Profitable growth Businesses built around recurring Unique expertise in intern
Slide 4: Claranova key figures
Claranova key figures Fiscal year 2019-2020 € 409 million +56% +20% > 50% Revenue Growth Organic growth1 Recurring revenue2 94% 17.4 million € € 29 million €83 million Revenue generated EBITDA1 Cash flow from Available cash outside France operations 1 See the glossary at the end of the presentation.
Slide 5: Full-year results 2019-2020
2019-2020 Full-year results
Slide 6: Claranova exceeds the €400 million revenue bar
Claranova exceeds the €400 million revenue bar… Revenue In € million + 56% 2019-2020 growth 409 + 46% 3-year average growth + 20% Organic growth1 262 162 + 32% Scope impact 2 + 4% 2017-2018 2018-2019 2019-2020 Forex impact 1 See the glossary at the end of the presentation. 6 2 Reflecting the integra
Slide 7: Strong marketing and R&D investment momentum
… supported by strong marketing and R&D investment momentum… Marketing R&D In € million In € million 21 86 15 51 12 31 2017-18 2018-19 2019-20 2016-17 2018-19 2019-20 + 68% + 42% Growth in marketing Growth in R&D investment investment 7
Slide 8: …and preserves its operating profit
… and preserves its operating profit… EBITDA1 In € million + 9% 17,4 Increase in EBITDA 16 4% Operating profitability (EBITDA as a % of Revenue) 4 US$ 5 million Reduction in employee costs under 2017-2018 2018-2019 2019-2020 the Paycheck Protection Program2 , not included in EBITDA 1 See the glossar
Slide 9: An unprecedented context and a defining fiscal year
… in an unprecedented context and a defining fiscal year for our activities EBITDA1 margin decreasing from 6.1% to 4.3% reflecting… … the Personal Creations integration that did not contribute to profitability for its first year of integration … the non-integration of the reduction in employee costs
Slide 10: 1st profit-making year since 2015
1st profit-making year since 2015 In € million 1 Exceptional items mainly comprising expenses and fees incurred for the acquisition of the Personal Creations assets 1 2 Net financial expense including interest on the 2 various loans secured by the Group (ORNANE bonds, Euro PP bonds, borrowings to fi
Slide 11: Strong operating cash flow generation
Strong operating cash flow generation, with a fourfold increase in the period 1 Strong operating cash flow In € million 6/30/2020 6/30/2019 generation (x4), reflecting Group growth and the negative WCR B2C Cash flow from operations 14 15 business model Change in working capital requirements 23 (4) 2
Slide 12: A financial position that remains solid with cash of €83 million
A financial position that remains solid with a cash position of €83 million In € million 6/30/2020 6/30/2019 1 Increase in borrowings following Bank debt (18) (3) US$15 million in loans secured for the acquisition of Personal (48) (48) Creations (partially repaid at Bonds 6/30/2020) and government a
Slide 13: Limited IFRS 16 impact on income statement and balance sheet
Limited IFRS 16 impact on the income statement and balance sheet, nil impact on cash In € million 1 6/30/2020 1 First full year of application of Cancellation of lease expenses 3 IFRS 16 Amortization of right-of-use assets (3) Interest on lease liabilities (1) 2 Impact on net income 2 (0) Limited in
Slide 14: Business Performance
Business Performance
Slide 15: PlanetArt: another year of strong growth
Personalized e-commerce | Revenue In € million 314 Another year of strong growth for the PlanetArt businesses 176 122 Revenue of €314 million, up 78% (including organic growth of 29%) and EBITDA of €14 million 2017-2018 2018-2019 2019-2020 Driven by continued geographic roll-out in Europe, the ramp-
Slide 16: Personal Creations first-year revenue of €88 million
Personalized e-commerce | Successful integration of Personal Creations and deployment of first commercial synergies Get a FREE personalized gift First-year revenue of €88 million, above expectations every month! Integration of Personal Creations activities (reorganization of teams, overhaul of the c
Slide 17: CafePress, a new acquisition for PlanetArt
Personalized e-commerce | CafePress, a new acquisition for PlanetArt… Acquisition on September 1, 2020 of certain CafePress assets in the United States CafePress is one of the most widely recognized marketplaces in the Unites States, bringing together hundreds of thousands of independent designers T
Slide 18: Creation of a unique platform dedicated to personalized e-commerce
Personalized e-commerce | Creation of a unique platform dedicated to personalized e-commerce E-commerce Personalized e-commerce E-commerce has developed considerably in the past 20 years “Personalized” e-commerce allows companies to address growing consumer demand for original products by offering t
Slide 19: Software: revenue of €90 million with 8% EBITDA margin
Software | Revenue In € million A defining year to prepare the future growth and 83 90 profitability of our software activities 36 Revenue of €90 million (+9%) with 8% EBITDA margin Reflecting the accelerated transition of the perpetual license sales 2017-2018 2018-2019 2019-2020 model to a SaaS mod
Slide 20: Software: continued strong growth perspectives
Software | Continued strong growth perspectives for each of our software businesses Convert, edit and securely Focus on 3 buoyant sectors: PDF, Photo and security through sign your PDF documents our proprietary brands: Soda, InPixio and Adaware Further sustained marketing and R&D investment to suppo
Slide 21: Software: an example in the PDF segment with Soda
Software | Adobe Acrobat PDF 2020 Revenue: ~US$1.4bn (~20% yoy)2 EBITDA: ~ >30%² An example in the PDF segment with our Soda brand Listed company / NASDAQ (US) Strong activity growth (+34%), with 90% subscription sales and operating profitability in excess of 20% Foxit PDF 2019 Revenue: US$54m (+31%
Slide 22: Internet of Things: revenue of €5 million
Internet of Things | Revenue In € million Accelerated commercial roll-out despite the health 5 situation 4 3 Revenue of €5 million, up 51% and losses held to €4 million Reflecting the accelerated commercial roll-out, with close to 2017-2018 2018-2019 2019-2020 500 customers and 5,000 deployments at
Slide 23: Claranova remains confident and well positioned for the future
Claranova remains confident and well positioned for the future A fiscal year closed in an unprecedented context, confirming the Group’s solidity and the resilience of its businesses and teams A Group more than ever well positioned to benefit from the structural changes accelerated by the health cris
Slide 24: Appendices
Appendices
Slide 25: Division performance
Division performance PlanetArt (personalized e-commerce) Avanquest (software publishing) In € million 2019-2020 2018-2019 ∆ In € million 2019-2020 2018-2019 ∆ Revenue 314 176 78% Revenue 90 83 +9% EBITDA 14 11 30% EBITDA 7 10 - 31% EBITDA % 4.5% 6.2% -169 bp EBITDA % 7.9% 12.4% -450 bp myDevices (Io
Slide 26: Consolidated Income Statement
Consolidated Income Statement In € million 2019-2020 2018-2019 Revenue 409.1 262.3 Raw materials and purchases of goods (126.2) (71.2) Other purchases and external expenses (191.4) (122.0) Taxes, duties and similar payments (0.7) (0.4) Employee expenses (55.0) (38.8) Depreciation, amortization and p
Slide 27: Earnings per share
Earnings per share In € 2019-2020 2018-2019 Number of shares outstanding* (in units) 39,200,753 39,200,754 Number of shares outstanding after potential dilution (in units) 39,905,818 39,905,823 Net income per share 0.03 (1.06) Adjusted net income* per share 0.17 0.21 Net income, Group share, per sha
Slide 28: Calculation of EBITDA and Adjusted net income
Calculation of EBITDA* and Adjusted net income* In € million 2019-2020 2018-2019 Recurring Operating Income 13.3 14.3 IFRS 16 Leases (3.1) Share-based payments, including social security expenses 0.0 (0.3) Depreciation and amortization1 7.2 2.0 EBITDA2 17.4 16.0 Net income/(loss) 1.2 (41.4) IFRS 16
Slide 29: Simplified Statement of Financial Position
Simplified Statement of Financial Position In € million 6/30/2020 6/30/2019 Goodwill 61.7 63.0 Other non-current assets 32.0 12.1 Current assets (excl. cash) 33.5 25.5 Cash and cash equivalents 82.8 75.4 Total assets 210.0 176.1 Equity 62.3 63.6 Financial liabilities 68.9 51.9 Lease liabilities 10.1
Slide 30: Glossary
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Slide 31: Glossary
Glossary B2C: Business-to-Consumer. A direct commercial relationship between a company and a private individual. IoT: Internet of Things EBITDA: It is equal to earnings before depreciation, amortization and share-based payments (including related social security contributions), and the IFRS 16 impac
Slide 32: Contact analysts & investors
Contact analysts & investors +33 1 41 27 19 74 contact@claranova.com www.claranova.com Disclaimer This document contains forward-looking statements concerning Claranova’s financial position, operating results, businesses, strategy and projects. Although Claranova believes that the forward-looking st