Claranova: share price declines, annual sales judged disappointing

(CercleFinance.com) - Claranova shares were down on the Paris Bourse on Friday morning, following the publication of annual sales deemed disappointing by analysts.


At around 11:15 a.m., the share price was down 2%, while the CAC Mid & Small index was losing around 0.8% at the same time.

The technology group - which holds a portfolio of majority stakes in digital growth companies - reports a 2% decline in sales for the fourth quarter of its 2023-2024 financial year ending June.

These came to 100 million euros, compared with the 102 million euros reported for the same period last year.

For the year as a whole, sales came to 496 million euros, compared with 507 million euros a year earlier, again representing a decline of 2%.

In a reaction note, analysts at Invest Securities point out, however, that the consensus was for sales of 502 million euros.

The brokerage firm also points out that its net financial debt at the end of June stood at 102 million euros, compared with an expected 88 million euros, a reduction of only ten million euros year-on-year despite the capital increase of 18.5 million euros completed at the beginning of the year and improved profitability.

Claranova confirmed its operating profitability target of around 10% for the 2023-2024 financial year, but also warned that its former CEO, Pierre Cesarini, had taken legal action against the group.

Pierre Cesarini, who has been dismissed from all his functions within the company, is claiming 15 million in damages, a claim that Claranova says it considers unfounded.

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