Earnings release
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Press release March 31 , 2021 . • • . claranova First - half 2020-2021 results TM Continuing strong growth and a very significant improvement in profitability Revenue of € 278 million , up 25 % at constant exchange rates ( + 17 % like - for - like ) Operating profitability more than doubles with EBITDA reaching € 23 million ( + 107 % ) or 8.3 % of revenue Net income multiplied by 7 to € 11 million Record cash position of € 118 million , supported by strong operating cash flow generation of € 40 million The condensed interim consolidated financial statements for the half - year period ended December 31 , 2020 were approved by the Board of Directors on March 31 , 2021. The limited review procedures for the interim financial statements have been completed , and the limited review report will be issued after the verification of the half - year financial report is completed . " More than any year to date , 2020 marked a pivotal milestone in the economy's digital transformation . Our diversified market position in the B2C1 segment , based largely on a freemium business model² allowed us to fully benefit from the economy's rapid digital development within a health context we have been experiencing already for one year . In this context , Claranova achieved record performances in H1 2020-2021 with continuing strong revenue growth , up 25 % ³ to € 278 million , but above all a very significant improvement in operating profitability with EBITDA4 of € 23 million . Operating profitability more than doubled in relation to last year's first half , already exceeding the total annual amount of EBITDA achieved by Claranova over the entire 2019-2020 fiscal year . Similarly , the Group's net profitability 5 grew by a multiple of seven to reach the historic level of € 11 million . These performances are the result of work accomplished over the last few years to strengthen our positions in high - potential digital segments and build resilient business models for each of our divisions . Our growth potential remains considerable . We are more than ever confident in our ability to maintain this trend of profitable growth and reaffirm our goal to achieve annual revenue of € 700 million and an EBITDA margin above 10 % by 2023. " Pierre Cesarini , Chairman and CEO of Claranova Group 1 B2C or Business - to - Consumer refers to the process where businesses sell products and services directly to individual consumers . 2 A penetration pricing strategy that involves proposing a free product to customers who are then charged for complementary products , services and features . 3 Change at constant exchange rates 4 EBITDA ( Earnings before interest , taxes , depreciation and amortization ) is a non - GAAP aggregate used to measure the operating performance of the businesses . It is equal to Recurring Operating Income before depreciation , amortization and share - based payments including related social security expenses and the IFRS 16 impact on the recognition of leases . Details on the calculation of EBITDA are presented in the Appendix to this presentation . In terms of Net Income . ANALYSTS - INVESTORS +33 1 41 27 19 74 ir@claranova.com CODES Ticker : CLA ISIN : FR0013426004 www.claranova.com FINANCIAL COMMUNICATIONS +33 1 75 77 54 65 ir@claranova.com PAGE 1/10