PlanetArt parent Claranova reports six-month results up 25%

GaryPageau ,
French conglomerate and parent of PlanetArt Claranova reported revenue for the first half of fiscal 2020 of €278 million, up 25% at constant exchange rates. Reflecting the group’s exposure to North American and UK currencies which weakened against the euro, this period was significantly impacted by exchange rate fluctuations. Taking into account this impact, revenue grew 19% at actual exchange rates. Like-for-like growth, defined as at constant exchange rates and consolidation scope, amounted to 17% (compared to 19% in H1 2019-2020), despite a complex health and supply chain environment, the company said.
 

 

Jul.-Dec.
2020
(6 months)

Jul.-Dec.
2019
(6 months)

Change

Change at
constant
exchange rates

Change at
constant
consolidation
scope

Change at
constant
consolidation
scope and
exchange rates

PlanetArt

234

186

26%

32%

16%

23%

Avanquest

42

46

– 9%

– 4%

– 9%

– 4%

myDevices

2.2

2.2

– 3%

4%

– 3%

4%

Revenue

278

234

19%

25%

11%

17%

The company said the year-end holiday period was nevertheless impacted by severe supply chain bottlenecks (UPS, FedEx and other national postal services) which temporarily limiting the ability to make deliveries “in a satisfactory manner.” As a result, the company is going to bak off of marketing investments for a time to reduce pressure on the supply chain.

“With 25% growth at constant exchange rates and strong growth in operating profitability expected for this first half, Claranova once again demonstrates the resilience of its business model and the strength of a digital company that in just a few years has successfully developed product offerings popular with millions of customers throughout the world,” says Pierre Cesarini, CEO, Claranova group. “Our growth potential remains considerable and is supported by the development of the digital economy, accelerated by the pandemic.”

The PlanetArt personalized e-commerce business reported revenue of €234 million for the first half of 2020-2021, up 32% at constant exchange rates and 26% at actual exchange rates, marking another six-month period of strong growth despite the health and supply chain conditions which remain difficult, the company said.

Excluding the acquisitions of Personal Creations and CafePress, PlanetArt continued to deliver growth of 23%, up from 22% in the same period last year, highlighting once again the growth potential of its activities as well as their consistency. The division registered double-digit growth both in Europe and the United States for its web-based and mobile apps.

The company also reported increases in the personalized gift business, driven by the ramp-up of FreePrints Gifts, the mobile offering rolled out in the United States at the beginning of the period, and the launch of Personal Creations in the United Kingdom in the first half, the company said.