Claranova Se · EURONEXT:ALCLA
Claranova — H1 2021-2022 Earnings Presentation
30 slides from Claranova's earnings presentation, Mar 30, 2022
Slide 1: First-half results
First-half Board of Directors results February 2022
Slide 2: A diversified global technology company
A diversified global technology company FY 2020-2021 FIGURES A portfolio of controlling majority shareholdings in technology companies with strong growth €472m +43% annual revenue 3-year CAGR potential A unique track record in creating, turning 95% around and developing digital companies worldwide 7
Slide 3: H1 2021-2022
H1 2021-2022 3
Slide 4: H1 2021-2022 key figures
H1 2021-2022 H1 revenue Growth at constant Like-for-like growth % of international exchange rates revenue EBITDA EBITDA Net profit Net debt margin (%) 4
Slide 5: H1 2021-2022 highlights
H1 2021-2022 Revenue and EBITDA remained on track at €281m and €23m in H1, in an unprecedented market context, reflecting the benefits of the Group’s multi-sector approach: Board of Directors PlanetArt: slower growth in response to external constraints while continuing to gain market share thanks to
Slide 6: H1 2021-2022
lo, H1 2021-2022
Slide 7: H1 2021-2022 revenue
H1 2021-2022 revenue H1 2021-2022 (%) +4% +1% Revenue stabilized in H1 at €281m (H1 2020- 2021: €278m), up 1%, including: +3% • -6% like-for-like • +3% Forex effect -6% • +4% consolidation scope effect (PlanetArt’s acquisitions of CafePress and I See Me!) Revenue(€m)(1) Return to growth in Q2 with r
Slide 8: EBITDA H1 2021-2022
EBITDA H1 2021-2022 EBITDA (€m)(1) +107% +0% 23 23 EBITDA steady at €23m with an EBITDA margin 11 of 8.2% (vs. 8.3% in H1 2020-2021) Solid performance given the context (end of H1 2019-2020 H1 2020-2021 H1 2021-2022 lockdown measures, iOS 14.5, supply chain pressure, inflation impact on marketing, r
Slide 9: Cash position at December 31, 2021
Cash position at December 31, 2021 In €m 12/31/2021 12/31/2020 Cash flow from operations before €52m in operating cash flow, 22 23 1 changes in working capital (CF) bolstered by unchanged cash flow Changes in working capital (WCR)(1) 35 21 from operations of €22m Taxes and net interest paid (4) (4)
Slide 10: Financial position as of December 31, 2021
Financial position as of December 31, 2021 In €m 12/31/2021 06/30/2021 Bank debt 1 23 14 Increase from a new US$11m loan for 1 the acquisition of I See Me! by PlanetArt Bonds 2 98 49 2 Increase linked to the €50m OCEANES Other financial liabilities 3 27 2 bond issue Accrued interest 2 0 Increase lin
Slide 11: Analysis of Group debt
Analysis of Group debt Financial Payment schedule (€m) debt (€m)(1) 150 An increase of €85m in financial debt between June 2021 and December 2021 4 following the acquisition of I See Me! +€85m 19 (PlanetArt debt), Height Capital's 113 strategic investment (OCEANES bonds)) 19 and the buyout of Avanqu
Slide 12: H1 2021-2022
H1 2021-2022 12
Slide 13: PlanetArt remained resilient in an unprecedented market context
Revenue(M€)(1) +22 % 234 -3% 227 +26 % PlanetArt remained resilient in an 186 unprecedented market context (end of lockdown measures, Apple's iOS 14.5, supply chain pressures, higher customer acquisition, raw materials in transportation costs) H1 2019-2020 H1 2020-2021 H1 2021-2022 Revenue of €227m,
Slide 14: PlanetArt resisted better than its competitors
PlanetArt resisted better than its competitors to ...because its unique (fabless) approach offered flexibility market developments… and resilience Like-for-like growth (%) -14% Q1 2021-2022 FABLESS -19% -6% Q2 2021-2022 MULTIPRODUCT -23% MULTICHANNEL (web & mobile) (prints, books, apparel, home deco
Slide 15: Software activities revenue up 22% in H1
Revenue(M€)(1) + 12 % +22% 51 46 -9% 42 Very good momentum by the Group's software activities with revenue up 22% in H1 H1 2019-2020 H1 2020-2021 H1 2021-2022 Subscription renewals which require no additional marketing costs fueled a 56% EBITDA (€m and %)(1) increase in EBITDA to €8m for an EBITDA m
Slide 16: 60% recurring revenue in H1 2021-2022
Revenue mix(1) (%) 44% 40% 58% 56% 60% 42% 60% recurring revenue in H1 2021-2022 increasing the predictability of revenue streams H1 2019-2020 H1 2020-2021 H1 2021-2022 Recurring revenue Non-recurring revenue All verticals (PDF, security, photo) contributed to this increase with all showing growth r
Slide 17: myDevices overall H1 growth of +5%
Revenue(M€)(1) 2,2 +5% 2,3 -3% 2,2 0,7 +49% 1,0 +27% 2,3 Overall H1 growth of+5% ( +49% after 1,5 excluding one-off items from the T-Mobile 1,2 partnership) H1 2019-2020 H1 2020-2021 H1 2021-2022 myDevices supporting its commercial Revenue excluding one-off T-Mobile items development by reinforcing
Slide 18: Annual Recurring Revenue up 85% to €1.8m
ARR(€m)(1) +85% 1,8 1,0 0,6 Annual Recurring Revenue (ARR) up 85% to €1.8m as of 12/31/2021 12/31/2019 12/31/2020 12/31/2021 143 partners subscribed to the myDevices platform at the end of December 2021, a threefold increase since December 2020. Market leaders (T-Mobile, Sodexo, BASF, Engie, etc.) a
Slide 19: War in Ukraine: non-significant business exposure
War in Ukraine: non-significant business exposure While complete analysis is in progress, pre-invasion exposure to the Russian market is limited in terms of revenue. Since the invasion, the Group has ceased to accept customers in Russia and Belarus and its products can no longer be downloaded from t
Slide 20: H1 2021-2022
H1 2021-2022 20
Slide 21: Review of 2023 targets
Review of 2023 targets An unprecedented half-year period in: history, marked by an exceptional combination of major unforeseeable developments Despite this context, the Group was successful in keeping revenue and EBITDA on track February 2022 This half-year confirms the relevance of Claranova's dive
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Slide 24: Performances by division
Performances by division In €m H1 2021-2022 H1 2020-2021 Change In €m H1 2021-2022 H1 2020-2021 Change Revenue 227.0 233.7 -3% Revenue 51.2 41.9 +22% EBITDA 17.2 19.3 -11% EBITDA 7.5 4.8 +56% EBITDA (%) 7.6% 8.3% -0.7pt EBITDA (%) 14.7% 11.5% + 3.2 pts In €m H1 2021-2022 H1 2020-2021 Change Revenue
Slide 25: Consolidated Income Statement
Consolidated Income Statement In €m H1 2021-2022 H1 2020-2021 Revenue 280.5 277.8 Raw materials and purchases of goods (84.4) (91.0) Other purchases and external expenses (127.1) (119.1) Taxes, duties and similar payments (0.4) (0.4) Employee expenses (35.2) (32.4) Depreciation, amortization and pro
Slide 26: Earnings per share
Earnings per share (In €) H1 2021-2022 H1 2020-2021 Average number of shares outstanding (in units) 42,616,876 39,200,753 Average number shares outstanding after potential dilution (in units) 46,863,760 39,905,818 Net income per share € 0.10 € 0.27 Net income per share after potential dilution € 0.0
Slide 27: Calculation of EBITDA and Adjusted net income
Calculation of EBITDA and Adjusted net income In €m H1 2021-2022 H1 2020-2021 Recurring operating Income 19.9 20.8 Impact of IFRS 16 on leases expenses (2.0) (1.8) Share-based payments, including social security expenses 0.4 0.0 Depreciation, amortization and provisions 4.9 4.1 EBITDA 23.1 23.1 Net
Slide 28: Simplified Statement of Financial Position
Simplified Statement of Financial Position In €m 12/31/2021 06/30/2021 Goodwill 75.2 64.4 Other property, plant and equipment and intangible assets 20.8 18.3 Right-of-use lease assets 14.6 7.0 Other non-current assets 14.6 7.0 Current assets (excl. cash) 42.8 38.0 Cash and cash equivalents 152.0 90.
Slide 29: Glossary
Glossary Adjusted net income: Adjusted net income is equal to Net income before the impact of share-based payments, including the related social security contributions, other operating income and expenses and fair value remeasurement of financial instruments and excluding the IFRS 16 impact on the r
Slide 30: Analysts & Investors Contact
Analysts & Investors Contact +33 1 41 27 19 74 [email protected] 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 stateme