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Claranova

Organic growth across the board

Update | Technology | 08 Feb 2019

Claranova reported 53% year-on-year revenue growth for Q219, with organic growth of 36%. All divisions contributed to organic growth, and the Canadian businesses acquired by Avanquest also performed well. While H119 revenue growth rates are ahead of our FY19 growth forecasts, we are maintaining estimates until further detail on profitability is disclosed on 27 March. We believe that the risk to earnings is on the upside.

Claranova

Strong organic growth in Q1

Update | Technology | 08 Nov 2018

Claranova’s Q1 revenue growth of 61% y-o-y was made up of 33% organic growth and 27% growth from the recent acquisitions in the Avanquest business. All divisions showed organic growth in the quarter, prompting an upgrade to our forecasts. We lift our normalised EPS forecast by 1.9% in FY19 and 1.4% in FY20.

Claranova

FY18 results confirm positive momentum

Update | Technology | 08 Oct 2018

After a year of strong growth for PlanetArt and myDevices combined with further restructuring for Avanquest, Claranova reported EBITDA profitability on a group basis. With further growth expected in PlanetArt, acquisitions doubling the size of Avanquest, and operator contracts increasing their contribution to myDevices, we maintain our revenue and EBITDA margin growth forecasts for FY19 and FY20. PlanetArt’s launch in India and recent distribution agreements signed by myDevices both have scope to contribute materially to revenues in the longer term.

Claranova

Adding new sales channels for myDevices

Flash note | Technology | 14 Sep 2018

myDevices, Claranova’s internet of things (IoT) business, has announced two distribution agreements for IoT in a Box. These deals provide access to the reseller and distributor networks of Alibaba Cloud and Ingram Micro, substantially widening the business’s access to the Chinese and US markets. We maintain our forecasts for the myDevices division but note that these deals offer the potential for material revenue contributions once the reseller networks are fully trained up on the product.

Claranova

Clear path to profitability

Initiation | Technology | 10 Sep 2018

Claranova is a group consisting of three businesses focused on mobile and internet technologies with high growth potential. After a long period of restructuring and refocusing the business, the group is demonstrating strong revenue growth and improving profitability. Claranova also has ample funds to make targeted acquisitions to supplement organic growth.