Claranova reported 8% organic revenue growth for Q320, despite COVID-19 starting to affect the business from March. Demand has increased in the Printing business since lockdown and in May the Gifting facility in the US started production again. We have increased our FY20 revenue forecast by 3.5% to reflect these factors and increased our EBITDA forecast from €11m to €13m. Our FY21 forecasts are substantially unchanged.
15 May 2020
Claranova - Lockdown drives FreePrints user growth
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Claranova - Lockdown drives FreePrints user growth
- Published:
15 May 2020 -
Author:
Katherine Thompson -
Pages:
5
Claranova reported 8% organic revenue growth for Q320, despite COVID-19 starting to affect the business from March. Demand has increased in the Printing business since lockdown and in May the Gifting facility in the US started production again. We have increased our FY20 revenue forecast by 3.5% to reflect these factors and increased our EBITDA forecast from €11m to €13m. Our FY21 forecasts are substantially unchanged.