Claranova reported H120 revenue growth of 68%, of which 19% was organic. Higher than expected marketing spend combined with the first- time consolidation of the lower margin Personal Creations business reduced the growth in adjusted EBITDA to 3%. While Claranova has seen a limited impact on demand from COVID-19 disruption as most business is initiated online, we have taken a cautious stance for H220 due to the potential disruption in supply and production. We note that the company had a net c
15 Apr 2020
Claranova - Factoring in potential COVID-19 risks
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Claranova - Factoring in potential COVID-19 risks
- Published:
15 Apr 2020 -
Author:
Katherine Thompson -
Pages:
9
Claranova reported H120 revenue growth of 68%, of which 19% was organic. Higher than expected marketing spend combined with the first- time consolidation of the lower margin Personal Creations business reduced the growth in adjusted EBITDA to 3%. While Claranova has seen a limited impact on demand from COVID-19 disruption as most business is initiated online, we have taken a cautious stance for H220 due to the potential disruption in supply and production. We note that the company had a net c